Price analysis
Price analysis 4/18: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT
Bitcoin (BTC) and most major altcoins have started the new week on a soft note and the Crypto Fear and Greed Index has dropped into the “extreme fear” zone, suggesting that investors are still nervous. Bitcoin has declined about 17% year-to-date while the Nasdaq 100 has dropped about 16% during the same period, indicating a tight correlation between the two. In comparison, gold has risen more than 10% in 2022 and its 50-day correlation coefficient with Bitcoin “is around minus 0.4, the lowest since 2018,” according to journalist Colin Wu. Daily cryptocurrency market performance. Source: Coin360 Although the crypto price action has remained bearish, the declining balance of Bitcoin on the crypto exchanges indicates that long-term investors are unperturbed and continue to accumulate at...
Top 5 cryptocurrencies to watch this week: BTC, XRP, LINK, BCH, FIL
Bitcoin (BTC) and most major altcoins have been relatively quiet during the holiday period from Good Friday onward. This suggests that cryptocurrency traders are not initiating large bets during the period when the U.S. equities markets are closed. That could be because of the tight correlation between Bitcoin and the S&P 500 and the uncertainty about the equity market’s performance in the next week. While some analysts expect weakness in the near term, others believe that Bitcoin could be in a consolidation phase with a large portion of its upside in the four-year halving cycle yet to come. Josh Olszewicz, head of research at alternative asset management firm Valkyrie, said: “Interesting. Maybe we never got the blow-off top…because it hasn’t happened yet.” Crypto mar...
Price analysis 4/15: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT
Bitcoin (BTC) remains closely correlated with the S&P 500 but the institutional investors do not seem to be waiting for a turnaround in the United States’ equities market or decoupling to happen before buying more Bitcoin. Notably, 30,000 Bitcoin moved out of Coinbase Pro in a single day, suggesting strong institutional demand. MicroStrategy, the publicly listed company, which is the largest single-wallet holder of Bitcoin, does not seem to be content with its stash of 129,219 Bitcoin. In a letter to shareholders, the firm’s CEO Michael Saylor said that the company aims to “vigorously pursue” and “increase awareness” about its Bitcoin strategy. Daily cryptocurrency market performance. Source: Coin360 Another entity that has been at the forefront of Bitcoin purchases in the p...
What are the worst crypto mistakes to avoid in 2022? | Find out now on The Market Report
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the worst mistakes you should avoid making in crypto. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they talk about the worst crypto mistakes to avoid making in 2022. First up, we have Bourgi, who thinks investors should avoid “analysis paralysis.” In other words, don’t overanalyze. Make decisions based on firm conviction. Don’t just look at the price of a coin or token you’re interested...
Top 5 cryptocurrencies to watch this week: BTC, NEAR, FTT, ETC, XMR
Bitcoin (BTC) dropped from a high of $47,200 on April 5 to a low of $42,107 on April 8, indicating possible selling by short-term traders who may have preferred to lock in their profits. However, the price action is still stuck in a tight range during the weekend, indicating that supply and demand are in balance. Although the Crypto Fear & Greed Index is in the fear zone, Bitcoin whales on crypto exchange Bitfinex remained unfazed and continued to purchase BTC. Interestingly, one large investor continued to buy $1 million of Bitcoin every day, without attempting to time the market, using the strategy of dollar-cost averaging. Crypto market data daily view. Source: Coin360 Another whale that utilized the dip to add more Bitcoin to its existing stockpile was Terra. This week, the wallet ...
Price analysis 4/8: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE
Bitcoin (BTC) and most major altcoins are attempting to defend the immediate support levels, indicating that bears sense an opportunity and are looking to take control of the price action. The short-term price action does not seem to worry the long-term Bitcoin bulls who expect a massive return in the next few years. While speaking at the Bitcoin 2022 conference in Miami, ARK Invest CEO Cathie Wood reiterated her Bitcoin price target of $1 million by 2030. Meanwhile, telecom billionaire Ricardo Salinas said during the conference that BTC and Bitcoin equities form 60% of his liquid investment portfolio. That is a massive increase from his Bitcoin exposure in 2020, which formed just 10% of his liquid assets. Daily cryptocurrency market performance. Source: Coin360 While the long-term may be ...
‘People should invest in all of the major layer-1s,’ says a veteran trader
Scott Melker, veteran trader and pocaster, is convinced that major layer-1 protocols should be part of everyone’s investment portfolio. Instead of picking individual crypto projects, such as NFTs or blockchain games, Melker thinks it makes more sense to bet on the blockchain infrastructure on which these projects are built. “Any of these small projects could absolutely go nuts. But you’re going to have trouble choosing what they are. You should just own the layer-1 and the infrastructure that they’re all built on,” he said in an exclusive interview with Cointelegraph. “You may not own a Bored Ape, but Ethereum holders have certainly benefited from the success of Bored Apes!” he pointed out. Talking about his portfolio construction, Melker revealed that about 6...
Top 5 cryptocurrencies to watch this week: BTC, VET, THETA, RUNE, AAVE
Bitcoin (BTC) is attempting to hold above its closest support level, and traders are watching to see if the price can remain strong and close above the 2022 yearly open price at $46,200 for the second week in a row. April has historically been the best performing month of the year for the S&P 500, according to Sam Stovall, chief investment strategist at CFRA. If history repeats itself and the close correlation between the United States equity markets and Bitcoin continues, it could bode well for the crypto markets in the near term. Crypto market data daily view. Source: Coin360 Another sentiment booster could be that the 19th million Bitcoin entered circulation on April 1. For the remaining 2 million BTC, the crypto markets will have to wait for a long time because the last Bitcoin is ...
Price analysis 4/1: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE
Bitcoin (BTC) has clawed back much of the losses that took place in January and now the focus of traders shifts to April, which has historically been a strong month for the cryptocurrency. According to Coinglass data, Bitcoin has closed April in the red on onlthree occasions and the worst monthly loss was a 3.46% drop in 2015. Although history favors the bulls, the Whale Shadows indicator has noticed that more than 11,000 Bitcoin has left a wallet in which it had been lying dormant for seven to ten years. The movement of similar-sized quantities from dormant accounts has generally resulted in a major top, according to independent market analyst Phillip Swift. Daily cryptocurrency market performance. Source: Coin360 Along with keeping an eye on the crypto markets, traders should ...
Top 5 cryptocurrencies to watch this week: BTC, ADA, AXS, LINK, FTT
Bitcoin (BTC) is attempting to notch its second successive weekly gains and end at the highest weekly closing price year-to-date. According to on-chain data from Glassnode, the recovery in Bitcoin’s price was driven by demand in the spot markets. This is likely to cheer the bulls because history suggests that spot market demand leads to sustained upside. Another positive sign is the strong demand for the ProShares Bitcoin Strategy exchange-traded fund (BITO) in the past two weeks, which pushed its exposure to a record high. Arcane Research said the strong inflows “suggest that Bitcoin appetite through traditional investment vehicles is increasing.” Crypto market data daily view. Source: Coin360 Along with Bitcoin, the broader crypto space is also attracting investors. According to re...
Price analysis 3/21: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
Bitcoin (BTC) and most major altcoins are attempting to start the new week on a positive note by bouncing off their respective support levels. Goldman Sachs became one of the first major banks in the United States to complete an over-the-counter “cash-settled cryptocurrency options trade” with the trading unit of Michael Novogratz’s Galaxy Digital. This could encourage other major banks to consider offering OTC transactions for cryptocurrencies. It is not only select nations that are showing growth in crypto adoption. A report by cryptocurrency exchange KuCoin shows that crypto transactions in Africa have soared by about 2,670% in 2022. Bitcoin Senegal founder Nourou believes that Africa could continue its thousand plus percent growth rates in the next few years. Daily cryptocurrency marke...
Top 5 cryptocurrencies to watch this week: BTC, LUNA, AVAX, ETC, EGLD
Bitcoin (BTC) rose above $42,000 on March 19 but the bulls continue to face a strong challenge from the bears at higher levels. Although Bitcoin’s price has recovered from $37,578 on March 13, Cointelegraph market analyst Marcel Pechman highlighted that the long-to-short net ratio of top traders across three major exchanges shows that professional traders have not been buying aggressively. But while Bitcoin struggles at higher levels, select altcoins are showing strength. Twitter account BTCFuel anticipates that altcoins could be entering “the final leg up of the hype phase” and may peak in the Summer. Crypto market data daily view. Source: Coin360 Glassnode data shows that investors have withdrawn roughly 550,000 Ether (ETH) from centralized exchanges year-to-date. Due to the outflo...
