Bitcoin Upward Momentum ‘Highly Likely’ To Continue, On-Chain Data Shows
Although Bitcoin (BTC) appears to have stalled in the mid-$100,000 range, on-chain data indicates that the top cryptocurrency’s bullish momentum is far from over. BTC recently hit a new all-time high (ATH) of $111,980, prompting several crypto analysts to forecast even higher prices in the near term. Bitcoin Rally Far From Over, Data Suggests According to a recent CryptoQuant Quicktake post by contributor Crypto Dan, Bitcoin is still “highly likely” to continue its upward trajectory. The analyst shared the Bitcoin Net Realized Profit/Loss (NRPL) chart to support this outlook. Related....
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As Bitcoin (BTC) reels amidst escalating geopolitical tensions between Israel and Iran – dropping from $110,530 on June 9 to just above $106,900 today – concerns are mounting that BTC’s upward momentum may have stalled. However, on-chain data suggests that both Bitcoin whales and retail investors still anticipate further upside for the leading cryptocurrency. Bitcoin Whale And Retail Inflows To Binance Tumble According to a recent CryptoQuant Quicktake post by contributor Darkfost, Bitcoin inflows to Binance crypto exchange from two distinct cohorts – whales and retail....
After a sharp drop, Bitcoin has reached a key point, from where the medium-term trend could continue. What is necessary for that continuation? Will the upward trend continue? The short-term downward trend was just a correction towards the upward trend. That’s why there was a rebound and the upward trend still has momentum. For the upward trend scenario to become as likely as possible, two things need to happen. First, Bitcoin’s price has to fortify at the level of $450 and form a turn. Second, the market has to avoid a downward scenario with a fortification and a turn at the level of $446.....
On-chain data shows Bitcoin miners are still in the process of accumulation, despite the crypto recently reaching new all-time highs (ATHs). Bitcoin Miners Continue Their Accumulation As pointed out by an analyst in a CryptoQuant post, BTC miner reserves have continued the trend up recently, despite the coin hitting new ATHs. The “miner reserves” is […]
Bitcoin has come a long way. Decentralized currency is still largely stigmatized and rarely fails to confuse beginners. But interest has expanded quite a bit since it only touched the radar of skeptical cryptography mailing list readers. According to a fresh national-wide survey from the Conference of State Bank Supervisors (CSBS), 6% of respondents are 'very likely' and 12% are 'somewhat likely' to purchase Bitcoin. 17% said they weren't sure. Yet, younger voters averaged much higher. 43% of 18-24 year old participants indicated they were ‘very likely’ or ‘somewhat likely’ to purchase....
Data shows Bitcoin should seal both its best Q3 on record and its second-highest lifetime quarterly close on Sep. 30. Bitcoin (BTC) is on track for its best third quarter ever, data shows as Q3 2020 has just one day left to go.According to price records from on-chain analytics resource Skew, this year should produce Bitcoin’s strongest Q3 in its history.BTC price challenges Q2 2019 closeBTC/USD traded at around $10,680 at press time on Sep. 30. That number comfortably beats any other Q3 close on record, the next highest being last year’s $8,310.What’s more, Bitcoin may seal the second-best....