Following a period of two months of consolidation, Bitcoin underwent a strong breakout at the end of July that took it from the $9,000s to a high at $12,500. But since those highs in late August, Bitcoin has undergone a correction that brought it as low as $9,
The difficulty of mining Bitcoin hit a new all-time high on September 20th, continuing its uptrend since the halving in May this year. PlanB, the creator of the stock-to-flow (S2F) model, commented on the numbers, suggesting Bitcoin is en route to $100,000 with mining difficulty rising "like clockwork.
According to Philip Swift, a Bitcoin analyst and the creator of LookIntoBitcoin.com, sufficient technical and fundamental evidence hint Bitcoin is at an early stage of a bull market.
Swift cited the Spent Output Profit Ratio (SOPR) indicator of Glassnode to suggest a bullish trend might soon materialize.
The Bitcoin
According to Philip Swift, a Bitcoin analyst and the creator of LookIntoBitcoin.com, sufficient technical and fundamental evidence hint Bitcoin is at an early stage of a bull market.
Swift cited the Spent Output Profit Ratio (SOPR) indicator of Glassnode to suggest a bullish trend might soon materialize.
The Bitcoin
Following a period of two months of consolidation, Bitcoin underwent a strong breakout at the end of July that took it from the $9,000s to a high at $12,500. But since those highs in late August, Bitcoin has undergone a correction that brought it as low as $9,
The difficulty of mining Bitcoin hit a new all-time high on September 20th, continuing its uptrend since the halving in May this year. PlanB, the creator of the stock-to-flow (S2F) model, commented on the numbers, suggesting Bitcoin is en route to $100,000 with mining difficulty rising "like clockwork.
Bakkt, the Bitcoin derivatives brainchild of the Intercontinental Exchange (ICE), reported a new all-time high for its Bitcoin futures offering yesterday, with an equivalent of $200 million swapping hands.
With 15,955 futures contracts traded in a single day, Bakkt marks a 36% advance on its previous record of 12,
A new Bitcoin-focused Exchange Traded Product (ETP) will now allow accredited investors to speculate on negative Bitcoin price movements, according to a press release on Monday.
Switzerland’s 21Shares, the issuer of over eleven cryptocurrency ETPs, announced its new Short Bitcoin ETP (SBTC) (Ticker: 21XS) will be available to trade
Global Macro Investor CEO Raoul Pal believes Bitcoin could outperform gold over the long term, arguing that while both stores of value benefit from inflation, Bitcoin has a significantly higher potential upside than the precious metal.
At the Jackson Hole Symposium on Thursday, Federal Reserve chair Jerome Powell announced the
The U.S. Federal Reserve chair Jerome Powell gave the much anticipated Jackson Hole speech on August 27th. As strategists expected, Powell addressed inflation and the Fed’s intent to adjust its monetary policy.
Theoretically, the speech should have buoyed the sentiment around Bitcoin and gold. The Fed said it
The Bitcoin price has been testing the $11,400 support area since August 26th. In the near term, two key on-chain metrics could raise the probability of an extended consolidation phase.
The last time Bitcoin repeatedly tested the $11,400 support level was August 12th. At the time, Bitcoin rebounded
