BITCOIN PRICE: Which Countries Have the Biggest Premiums?

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Right now, with the Bitcoin market cap sitting just under $1 trillion, BTC is only a very tiny fraction of the world’s assets combined. So in the grand scheme of crypto, this is why many analyst believe we’re still so early.

“If Bitcoin captures just 5% of the market cap of other assets on this chart, it’ll be worth over $2M/coin.”

In other trending Bitcoin News today: Bitcoin bears lack ‘balls’ to continue selling into 2022!

BTC bears will probably be too “stoneless” to keep prices down much longer, fresh Bitcoin price analysis argues.

In a Twitter series published Dec. 18, popular account Light summarized the events which led to Bitcoin’s recent 39% correction.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes & Resources:

https://cointelegraph.com/news/binance-ceo-cz-richest-crypto-billionaire-at-96b-bloomberg

https://cointelegraph.com/news/disney-patents-technology-for-a-theme-park-metaverse

https://cointelegraph.com/news/most-bullish-macro-backdrop-in-75-years-5-things-to-watch-in-bitcoin-this-week

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The Bitcoin price performance since difficulty bottom chart shows the formation of a cup pattern peaking in spring 2021.

This BTC price prediction tool puts Bitcoin at an astonishing $400k by then.

Right on cue, analyst @100trillion USD, also known as PlanB, tweeted a chart.

It’s based on a ratio of current price over bottom price ($3.7k – December 2018) against time and represented by mining difficulty.

The chart shows four distinct cycles, each beginning with low mining difficulty that corresponds with a low ratio of current price/bottom price. In each case, the ratio increases in line with mining difficulty until it peaks at around 120,000 – 140,000 blocks.

With this comes a dip in the ratio as mining difficulty gets increasingly hard. Current mining difficulty is at 80,000 blocks and based on the previous three cycles, there is room to grow up until the cup ceiling.

With that in mind, a ratio of 10, or 10 times the bottom ($3.7k), puts Bitcoin (BTC) at around $37k come halving time. What’s more, a climb towards the ceiling will see a ratio of around 100, or 100 times the bottom, putting Bitcoin at $370k by spring 2021.

BITCOIN SEES ITS FIFTH LARGEST HOURLY PRICE CRASH EVER

Bitcoin’s fifth largest hourly price drop in history happened today, according to data from Coin Metrics. In a shock brutal crash, BTC shed around $1,000 in value in less than one hour.

What does it mean?

“Today marks Bitcoin’s fifth largest hourly price drop in price history. A ~$1000 drop in under an hour. The only other time we’ve seen a greater dollar price drop is at the Dec. 2017 peak.”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Bitcoin’s hourly price change in % terms paints a much different picture.A 9.1% hourly drop ranks 122nd.

In 2013, the month of April alone saw Bitcoin drop >9% more than 20 times. pic.twitter.com/3V2dKd2ibI

— Yassine Elmandjra (@yassineARK) February 19, 2020

Today marks Bitcoin’s fifth largest hourly price drop in price history.A ~$1000 drop in under an hour. The only other time we’ve seen a greater dollar price drop is at the Dec. 2017 peak.

Data via @coinmetrics pic.twitter.com/5l0eOehKu4

— Yassine Elmandjra (@yassineARK) February 19, 2020

Bitcoin, while fundamentally is designed to go up over the ‘long’ term is currently being driven by derivative markets. Short term and mid term price trends caused by overleveraged traders can go any direction they want.

What can’t be faked, is the decade long bullish trend

— Jacob Canfield (@JacobCanfield) February 20, 2020

The Bitcoin halving is bigger than you know.

The daily global #Bitcoin demand will be higher than the daily release of #BTC; this was not the case in 2012 or 2016.

When the daily supply can’t fulfill the daily demand, we know what happens.

We’re in new territory #Crypto kids👍

— BITCOIN • XRP (@XRPjedi) February 18, 2020

Bitcoin Sees Its Fifth Largest Hourly Price Crash Ever

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The Bitcoin price likely reached its low when it hit $3,700 earlier this month, veteran trader Tone Vays has forecast as markets remain up 70%.

In the latest episode of his Trading Bitcoin YouTube series on March 29, Vays repeated his previous claim that, logically, the BTC price should bottom at 20% of its 2019 highs — $2,800.

Vays on $2.8K: “I don’t think it’s likely anymore”

This could occur before May’s block reward halving and not endanger Bitcoin’s long-term perspective, he said, but a dive after that event could have grave consequences.

After March 12, when Bitcoin (BTC) bounced off 15-month lows of around $3,700, Vays now thinks that Bitcoin will not return to put in lower levels.

“I don’t think it’s likely anymore,” he summarized.

“Because I think this incident, this event earlier this month was close enough $2,800 that I’m no longer expecting $2,800.”

Since the bounce, Bitcoin has broadly maintained higher support, with the recovery reaching almost 90% in the subsequent two weeks.

Continuing, Vays suggested that in fact, $2,800 would have appeared during the dive and that it was only the crashing of derivatives giant BitMEX which prevented it.

“If BitMEX did not go down, we probably would have $2,800 and maybe even lower,” he said. 

“It’s very possible that if BitMEX didn’t crash, the selling would have just accelerated, but right now, I’m under the assumption that the low is in.”

Bitcoin Price Reclaims $6K as Traders Eye New BTC Futures Gap Above

The past 24 hours had seen the pair dip to lows of $5,870 after signaling weakness throughout the weekend.

Those were short-lived, however, with Bitcoin regaining lost ground within hours. 

Now, hopes were high that price action would remain more bullish, allowing Bitcoin to close a new futures gap left at the end of trading on Friday. 

The gap lies between around $6,300 and the closing price of Friday’s CME futures session at $6,680. 

As Cointelegraph reported, Bitcoin has very often returned to trade at levels left behind by futures markets — before its price volatility surged in mid-March, just one gap remained, much higher at $11,800.

For Cointelegraph Markets analyst Michaël van de Poppe, however, there was overall still a bearish trend in Bitcoin, despite the upside potential posed by the gap.

“The first level for support held and we’ve pushed upwards. There’s also the CME Gap, probably the reason why we’re moving, so that could be closed first,” he tweeted on Monday. 

“This means that a $6,050 flip could trigger another push to $6,400-$6,500, before further down.”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

$BTC #BITCOINThe first level for support held and we’ve pushed upwards. There’s also the CME Gap, probably the reason why we’re moving, so that could be closed first.This means that a $6,050 flip could trigger another push to $6,400-$6,500, before further down.

Still bear pic.twitter.com/bn0BHHRDHd

— Crypto Michaël (@CryptoMichNL) March 30, 2020

https://cointelegraph.com/news/bitcoin-price-reclaims-6k-as-traders-eye-new-btc-futures-gap-above

https://cointelegraph.com/news/bitcoin-price-likely-bottomed-in-37k-bitmex-crash-says-tone-vays