'Foolish' to deny Bitcoin price can go under $10K — analysis
Investors need a plan to cater for every eventuality, as analysts still focus on $16,000 as a downside target.
Investors need a plan to cater for every eventuality, as analysts still focus on $16,000 as a downside target.
On the surface, this theory makes a lot of sense, and I was a big believer myself that logic would dictate that extra liquidity could be what carries a bull market, maybe even be the sole cause. Until I actually looked at the data. While there was indisputably some positive effect of having extra cash…
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PRESS RELEASE. Cryptostone, a genuinely anonymous, No-KYC blockchain financial ecosystem, has announced the token sale date for the CPS token. After a successful pre-sales round, which has raised over two million USD from thousands of followers, the token will be available for public sale from June 30, 2022. The project is creating the next evolution […]
Institutional investors’ reactions to the bitcoin price crash have been quite similar to that of retail investors. After weeks of outflows, the tides have begun to change, largely credited to the low prices that offer a chance to get into the digital asset before a recovery. The past week saw inflows for the digital asset, although other assets tell a different story. Bitcoin Sentiment Recovers Bitcoin sentiment had declined far into the negative following the price crash of last week. With the digital asset reaching as low as $17,600, it triggered massive sell-offs across the space. However, not everyone in the space had seen the declining prices as a signal to sell. For some, it presented a unique opportunity to get some ‘cheap’ bitcoins which is what is seen across the institutional investors. Bitcoin’s outflows had been ramping up over the previous week due to the low momentum in the market. This had turned for the better last week when the outflow trend had been canceled and money began to flow into the cryptocurrency. Related Reading | Bitcoin Miner Liquidations Threaten Bitcoin’s Recovery The leading cryptocurrency had benefitted the most from this turn in investor sentiment as its inflows came out to $28 million for the week. Now, this is not exactly an impressive figure when it comes to inflows for bitcoin. However, it is important due to not only the market sentiment but the fact outflows had characterized the market for the previous week. It brings the month-to-date inflows for bitcoin to a total of $46 million. Nevertheless, the short bitcoin had gone the other day. This asset saw record outflows for the past week. With a total of $5.8 million, short bitcoin embodied the negative sentiment felt throughout the market recently, coming after reaching a new all-time high of $64 million just at the beginning of the week. BTC begins another decline trend | Source: BTCUSD on TradingView.com Outflows Rock The Rest It would seem that bitcoin would be one of the solitary beneficiaries of the inflow trend for the past week. For the rest of the market, the sell-off trend had taken a stronghold and digital asset investment had seen inflows of $39 million. This brings the total assets under management to $36 billion. It is now sitting at its lowest point in more than a year, accounting for a 59% decline in the last six months alone. However, net flows remain positive at $403 million on a year-to-date basis. Related Reading | By The Numbers: The Worst Bitcoin Bear Markets Ever Ethereum is yet to be free from its bearish hold as outflows remain the order of the date. For the last week alone, Ethereum outflows had reached $70 million. The second-largest cryptocurrency by market cap has now seen 11 straight weeks of outflows with no reprieve in sight. Its year-to-date outflows now sit at a massive $459 million. Multi-asset investment products and Solana would, however, go the way of bitcoin for last week. Both these asset classes maintain inflow trends stubbornly. Inflows for multi-asset investment products came out to $9 million while Solana saw inflows of $0.7 million, presumably from investors who are moving out of competitor, Ethereum, due to fears that the Merge would not be taking place according to schedule. The crypto market has lost more than $100 billion since last week. It is currently sitting at $892.6 billion at the time of this writing. Featured image from US News Money, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
Whenever someone loses funds, lots of people say that's not how to store your keys. They can be compromised easily in that setup. Just wondering what the correct way is in that case. I remember reading the Winkle twins had parts of their keys on paper in multiple locations. And had multiple copies of this…
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SithSwap, a next-generation automated market maker (AMM) on StarkNet, announced it has successfully raised $2.65 million at a $25 million valuation in a seed funding round led by Lemniscap, with participation from Big Brain Holdings, GSR, DWeb3 Capital, Ghaf Capital Partners, as well as angel investors Anthony Beaumont and Etienne Royole. The SithSwap team will…
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I made a site that lets you view the top comments from daily discussion threads of crypto reddits, along with the price of the asset on that given date! Please let me know if you have any feedback (yes I know eth data is pretty spotty, continually adding more data for that). https://crypto-social-sentiment-wq83w.ondigitalocean.app/chart/total/all submitted…
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MATIC moved back into the cryptocurrency top 20 on Thursday, as prices rose by over 25% in today’s session. The token replaced FTT, which entered the list following declines in MATIC on Wednesday. ATOM also rose today, hitting a 12-day high in the process. Polygon (MATIC) MATIC was one of the standout movers in crypto […]
Airdrops are a great marketing tool, but they can have downsides for crypto projects and investors alike. Is there a way around this?