Bitcoin dips below $16.7K as US GDP meets fresh BTC price 'death cross'
Bitcoin has never seen this particular “death cross” before in its life, one analyst notes as BTC price weakness continues.
Bitcoin has never seen this particular “death cross” before in its life, one analyst notes as BTC price weakness continues.
Analysts expect the bear market to loosen its grip in 2023. Here are five cryptocurrencies to keep an eye on.
The idea is to predict a new price every hour, and then act on this prediction by placing a trade. In order to train the model, I used a dataset with the hourly price of Bitcoin from 2013 to 2022 included. I settled for an hour thinking that 1 minute seemed too close to matter…
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submitted by /u/Status_Floor1746 [link] [comments]
I have a few questions about his statements, are they just incorrect or am I not seeing it in good light? can anyone clarify for me what he means when he says " not decentralized, controlled by small group of people and one day youll need permission to use it"? https://preview.redd.it/bryi636qpg7a1.jpg?width=598&format=pjpg&auto=webp&s=9e8ef0d6189c2750d89ae6a47e2093868311f945 submitted…
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On-chain data shows the Bitcoin MVRV Ratio Triple Ribbon is approaching a bearish cross, a sign that a correction could be coming soon for the crypto’s price. Bitcoin MVRV Ratio Triple Ribbon Is Close To Bearish Crossover As pointed out by an analyst in a CryptoQuant post, the MVRV ratio warns that a new round of decline may be coming for BTC. The “MVRV ratio” is an indicator that measures the ratio between the market cap of Bitcoin and its realized cap. The realized cap is a capitalization model for BTC that calculates a sort of “real value” for the asset by assuming that the true worth of each coin in circulation is the price at which the particular coin was last moved. Related Reading: XRP Accumulation: Key Sharks And Whales Group Hits All-Time High Holdings By comparing this realized cap with the market cap, the indicator tells us whether the coin’s actual price is fair or not right now. Here is a chart that shows the trend in three moving averages (10-day, 15-day, and 20-day) of this metric over the last few months: The three MAs seem to have been closing in on each other in recent days | Source: CryptoQuant These three MAs of the Bitcoin MVRV Ratio together form the “Triple Ribbon” indicator, and crossovers between these ribbons have historically had implications for the price of the asset. As you can see in the above graph, whenever the 10-day MA has passed below both the 15-day and the 20-day versions, while at the same time the 20-day has gone above both the others (thus keeping the 15-day’s position unchanged in the middle), a bearish crossover has formed for BTC. There have been two instances of such a cross during the last few months; the first one occurred back in August when Bitcoin was at the height of its first relief rally of this bear market, while the other one formed in November right as the FTX crash came around. In both of these occurrences, BTC’s price took a deep plunge following the cross formation. Related Reading: Altcoin Indexes Take Beating As Investors Flip Alts For Bitcoin From the chart, it’s apparent that the MVRV Ratio Triple Ribbon has once again been approaching this same kind of bearish crossover recently. If these MAs continue in this trajectory and the cross does end up happening, then it might mean the crypto will see another sharp drop soon. BTC Price Looks like the value of the asset has continued to move sideways in the last few days | Source: BTCUSD on TradingView At the time of writing, Bitcoin’s price floats around $16,800, down 5% in the last week. Featured image from Mark Basarab on Unsplash.com, charts from TradingView.com, CryptoQuant.com
Coinbase continues to impress me. The new director with bast experience adds further credibility for Coinbase. Thoughts 💭? Just wanted to post some positive news regarding exchanges during the negative bashing of Binance etc. "Coinbase also said country operations will be led by new director Cormac Dinan, formerly of Crypto.com, Deloitte and Citi." Coinbase was…
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submitted by /u/RockyRoad413 [link] [comments]
As developers and investors we should stop looking for quick money. Yes, that's the main goal for most of us. But if we choose to build something meaningful, something that's vastly better thanks to blockchain, then the rest is easy. Here's some meaningful developments: Decentralized banking. You can store your money without having to rely…
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