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Tag Archives: Bitcoin

Bitcoin to Break $36K After Breaking Out from 4-Day Range

Bitcoin finally breached the $34,000 price resistance after nearly 4 days of consolidation between $30,000 and $33,500. The top cryptocurrency was trading at $33,880 at 5:42 PM GMT on Monday at press time. After entering a new ATH of $40,000 in the first week of 2021, the cryptocurrency’s bull run took a pause and slowed down significantly for the past two weeks of the year. Bitcoin whales seemed to have accumulated more of the cryptocurrency against the dip, suggesting that the market...

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Bitcoin Price Won’t Exceed $40,000, JPMorgan Says

Bitcoin (BTC) is losing the strength necessary to overcome the key psychological mark of $40,000, Bloomberg reports, citing JPMorgan analysts. JPMorgan says interest in Bitcoin is waning According to experts, the flow of money into the Grayscale Bitcoin Trust (GBTC) may have reached its climax. “Now the influx of institutional money into the Grayscale Bitcoin Trust is not strong enough for Bitcoin to overcome $40,000,”...

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Will Institutions Continue to Pull the Weight for Bitcoin Price Rally?

The range-bound of Bitcoin’s price rally has left many traders waiting for another dip. While there have been swift recoveries in the current market cycle and institutions with large Bitcoin holdings have supported the rebound in price, the question that has continued to plague is for how long? Grayscale, the largest digital asset manager in the world, had the premium on Bitcoin drop below 10% and this is alarming for retail traders. It signals a pause towards the much-awaited...

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Bitcoin Fall: Is This the End of the Bull Run?

While 2021 started out as a promising year for Bitcoin, the last 7 days has shown a fading bullish rally. The price action on the charts as enabled the flagship cryptocurrency to register new ATHs. Bitcoin has reversed all the way from around $42k to $31,924, where it stood at 5:40 PM GMT press time. The reversal poses two questions: does this reversal signal the end of the bull run? Or does it mean a wider scale correction similar to what happened in January 2018? Or as many traders would...

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Commodities Week in Review: January 18 to January 22

Commodities Week in Review: January 18 to January 22 Agriculture  The agriculture sector had one of its worst weekly performances in many months, with most of these commodities recording substantial losses during the holiday-shortened trading week. Ostensibly, there are two explanations for the surprise decline in this part of the commodities sector. The US Dollar Index (DXY), which tracks the greenback against...

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Bitcoin Will Fall Further Before Another Bull Rally, Says Analyst

The Bitcoin dip is not over yet. Analyst predict that the short-term price woes may continue to $26,000. On Thursday, the cryptocurrency fell by 13% in a spot market well-off. Earlier on Friday, it hit a low of $28,845, the lowest since January 4. Few hours after, the Cryptocurrency regained a quick run to $31,000 before pulling a stop. At 12:42 GMT, the pioneer cryptocurrency was trading at $31,645. Ki-Young Ju, the CEO of blockchain analytics firm CryptoQuant mentioned highlighted...

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Bitcoin Price Dropped to $28,800, but Recovered

On January 21, Bitcoin (BTC) exchange rate fell by more than $5,000. The bears increased their pressure and the Bitcoin price nosedived from a high of $35,600 to lows around $30,000. Notably, on the morning of January 22, the price of the leading cryptocurrency dropped below $29,000. On the Bitstamp exchange, BTC price reached a low of $28,800 at 01:00 GMT. At the time of writing, however, the BTC/USD pair managed to recover and is trading at $32,000. According to some analysts,...

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Bitcoin Price Breakdown Targets $25,000 As Investors Remain Positive

After reaching an all-time high of $42,000, Bitcoin is in the bear market as it slides under $32,000. The crypto is risking a drop to under $30,000 before the end of the week. Bitcoin is on the fringes of a massive fall after losing crucial support level. As the flagship cryptocurrency continues to trade at a crucial junction, there’s a mix of views coming from institutions on Bitcoin. The cryptocurrency was rejected $38,000, opening the Pandora box. The market is unsettled mainly...

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Bitcoin Plunges Below $33,000 – Coinbase Whales Behind the Dump

On Thursday, January 21, the price of one bitcoin sank by more than 7% in 24 hours, breaking below the $33,000 mark. According to the head of the analytical resource CryptoQuant, Ki Young Ju, Coinbase whales are behind the dump of Bitcoin pouring onto the exchange. “Of course, bitcoin will reach $100,000 this year, but in the short term, if we do not see significant buyer pressure from Coinbase Pro, I think Bitcoin will enter bear territory,” the head of CryptoQuant wrote on his...

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Billions Moved Out of China in Bitcoin, Says China-based Blockchain Analytics Firm

According to a new report by China-based blockchain analytics firm Peckshield, close to $20 billion in Bitcoin has been moved out of China. The company said: In 2020, the total capital outflow from Chinese exchanges to foreign exchanges reached $17.5 billion, up from $11.4 billion in 2019, with this sum exceeding 1.5% of China’s three trillion foreign reserves The firm conceded that the actual sum of the outflow may be higher as they only track a limited number...

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