Bitcoin's price chart resembles the stock market in the 1930s, suggesting that the cryptocurrency could be heading towards a major drop, according to Bloomberg's senior commodity strategist, Mike McGlone.
The recent price pullback in Bitcoin and the cryptocurrency market is not surprising, as most risk assets typically suffer when the S&P 500 falls; however, volatility for both Bitcoin and the S&P 500 is declining, which suggests mainstream migration and a potential lack of price-pump potential for Bitcoin.
Cryptocurrency traders are preparing for increased volatility in the market after bitcoin's recent plunge, as indicated by on-chain data showing a surge in implied volatility and adjustments in traders' strategies.
Bitcoin price is expected to face volatility following Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole Symposium, with the cryptocurrency market reacting negatively to previous symposiums and a majority of officials favoring further interest rate hikes, potentially increasing the selling pressure on BTC.
In the latest episode of Market Talks, the future of BTC mining, the impact of the upcoming Bitcoin halving, and the ability for miners to hedge their operations with hash rate derivatives are discussed, with predictions that Bitcoin's volatility will decrease over time and the market will experience macro headwinds and potential new lows in the next six months.
Bitcoin may experience a period of stagnation before turning bullish again, according to crypto analyst Jason Pizzino, who believes that the cryptocurrency could remain in its current pattern for the next couple of months before potentially surging in late 2021 or early 2024.
Bitcoin remains on track for a massive bull cycle despite recent price decline, as indicated by broader indicators of its price patterns and the use of logarithmic growth curves. The 200-week moving average is seen as less significant as a key price support level for Bitcoin, and the analyst is also looking for an entry point for Ethereum.
Bitcoin on-chain activity is at multiyear lows, with a decrease in velocity indicating a lack of major trading activity and new investors entering the market, resulting in a stagnant BTC price.
Bitcoin's velocity has decreased to a 3-year low, potentially suggesting that whales are holding onto their positions rather than transferring ownership to new investors. Meanwhile, select altcoins like Toncoin, Monero, Mantle, and Quant are showing signs of strength and could present short-term trading opportunities depending on Bitcoin's next move.
Bitcoin and other cryptocurrencies are experiencing a decline, with Bitcoin falling below $26,000, as traders remain cautious following Federal Reserve Chairman Jerome Powell's speech.
Bitcoin's trading volume has reached its lowest level in four years, with investors waiting for reasons to reenter the market, as the price of bitcoin remains up 57% for the year but has struggled to rebound from its recent decline.
The recent stagnation in the price of Dogecoin following the cryptocurrency market crash has led to a decrease in volatility, with potential for a 170% upward move or a 34% drop, depending on whether the price successfully breaks out of its long-term descending triangle formation.
Bitcoin could experience a major market correction in September, potentially dropping by more than 16% based on historical performance and predictions by crypto analyst Benjamin Cowen.
Crypto prices, including bitcoin and major tokens, experienced a decline due to profit-taking and a general risk-off environment, erasing gains from Grayscale's court victory, with prices weakening ahead of the U.S. jobs report release.
Bitcoin and other cryptocurrencies experience a decline as the Securities and Exchange Commission slows down the decision process for crypto exchange-traded funds.
Bitcoin experienced a decrease in August, with traders successfully predicting a bearish trend using Elliott Wave theory and range movement analysis, resulting in profitable trades; however, further price movements are still uncertain and may be influenced by the decision on the upcoming Bitcoin ETF.
Bitcoin, the pioneer digital currency, is showing signs of declining interest as trading volumes and search traffic decrease, indicating a period of uncertainty and potential downside movement in the market.
The stock market has been stagnant for over a month and it is expected to decline in its next move.
Bitcoin's price has fallen below its 200-week moving average, indicating a bearish trend, but historical data suggests that this could be a buying opportunity for patient investors.
Bitcoin could decline by more than 60% if Apple's market cap continues to decline, according to crypto analyst Nicholas Merten. A plummeting Apple market cap would have a significant impact on Bitcoin and other equities.
A crypto analyst warns that Pepe could decline by more than 50%, Bitcoin Cash (BCH) is likely to keep declining, and Bitcoin will experience volatility before a bull cycle in 2024-2025.
The recent decline in the price of Bitcoin has raised concerns of a larger market downtrend, with Ethereum and Ripple also at risk of falling if Bitcoin weakens further.
The crypto market is expected to experience increased volatility due to economic events such as the downward revision of economic growth forecasts for the eurozone and the looming FTX liquidation, as well as the release of crucial inflation data in the US.
Investors are concerned about the downside potential of Bitcoin due to looming FTX liquidations and the Federal Reserve's monetary tightening, leading to a negative correlation between Bitcoin's price and implied volatility.
Bitcoin (BTC) experiences volatility following a higher-than-expected CPI report, with traders wary of the Wall Street open and inflation concerns.
Bitcoin and other cryptocurrencies advanced on Friday, but a key technical indicator suggests that losses are likely coming.
Bitcoin and other cryptocurrencies experienced a rise prior to the Federal Reserve's decision on interest rates, signaling possible volatility in the market.
Investors are expecting volatility in the stock market to increase after a period of low volatility, as headwinds such as potential interest rate hikes, high oil prices, a government shutdown, and other market uncertainties loom.
Bitcoin and other cryptocurrencies experienced a decline after the Federal Reserve decided not to raise interest rates, suggesting that significant gains may not be anticipated in the near future.
