No Reason to Short Bitcoin, On-Chain Analyst Explains Why
Those who plan to short the ongoing bull run must think twice, as per on-chain analyst Kim-Young Ju. The chief executive of CryptoQuant, a data analytics firm, said in a Thursday tweet that traders have no reason to place bets on Bitcoin’s potential fall. He explained that despite the cryptocurrency’s short-term downside correction from its […]
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The price of Bitcoin dropped below $16,400 on the day following a massive short-term correction. On-chain analyst Willy Woo attributed the pullback to an overheated bull run. Before the pullback happened, the Bitcoin derivatives market showed signs of extreme buyer demand. The market was dominated by buyers and long contract holders, leaving BTC vulnerable to […]
After the market crash that sent the Bitcoin price falling toward $100,000, the XRP price also saw a notable decline, and this crash has brought it toward an important level. While the digital asset continues to hold above the $2.1 level, it remains critical support and a break below this could be negative for the price. This is outlined by crypto analyst The Alchemist Trader, who has shown what direction the XRP price could be headed in depending on what happens here. XRP Price Threatens Major Support Level After the almost 4.5% decline that ravaged the XRP price over the last week, it....
Bitcoin price may have nosedived to $21,000 but this analyst says it’s not an entirely bad thing. Willy Woo, on-chain expert analyst says that Bitcoin’s recent decline to $21,000 is mostly due to the massive sell-off by traders. However, there’s no reason to hit the panic button because the sell-off is linked to negative net […]
Bitcoin bulls will enjoy domination over the market until its price breaches the $14,000-mark, according to Eugene Loza of EXCAVO.
Since the price of Bitcoin fell below $30,000, numerous forecasts have been made on the currency’s potential future price outlook of the asset. As the biggest cryptocurrency in the world, Bitcoin has amassed price headlines, some of which are optimistic while others are pessimistic. However, a question that lingers is whether another crash is really the end of the world for Bitcoin. In such an event, Mike McGlone, a senior analyst at Bloomberg, believes that even a decrease in price to $10,000 would not be bad for Bitcoin. Bitcoin Still Outperforming The Stock Market A fall in....