1. Home
  2. bottom

bottom

Crypto Supporters Sift Through the Graveyard of Technical Indicators That Failed to Predict Bitcoin’s Bottom

Crypto Supporters Sift Through the Graveyard of Technical Indicators That Failed to Predict Bitcoin’s BottomAs the end of 2022 approaches, a great number of bitcoin proponents are questioning whether or not the bottom is in as far as the official end of the crypto winter is concerned. The current bitcoin bear run just entered the longest bottom formation since the 2013-2015 bitcoin bear market. Moreover, analysts note that most […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

After More Than 380 Days, Crypto Supporters Celebrate Surviving the Second-Longest Bitcoin Bear Market

After More Than 380 Days, Crypto Supporters Celebrate Surviving the Second-Longest Bitcoin Bear MarketOn Saturday, members of the forum r/cryptocurrency discussed how the current bear market is now the second-longest bear market in the history of bitcoin prices. According to the forum post, the current crypto winter has lasted more than 380 days, just below the longest bitcoin downturn that took place during the 2013-2015 bear market, which […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Bitcoin hodling activity resembles previous market bottoms: Glassnode

Bitcoin’s price had just topped $21,000 at the time of writing — meaning around 45% of BTC holders have an “on-paper loss,” according to Glassnode.

The majority of Bitcoin has been “hodled” for at least three months in behavior bearing a striking resemblance to previous Bitcoin market bottoms, says blockchain analytics firm Glassnode.

In a July 16 tweet, Glassnode noted that more than 80% of the total U.S. dollar (USD)-denominated wealth invested in Bitcoin has not been touched for at least three months.

This signifies that the “majority of BTC coin supply is dormant” and that hodlers are “increasingly unwilling to spend at lower prices,” said the firm.

Bitcoin’s price is $21,013 at the time of writing, down almost 70% from its all-time high of $69,044 in November 2021. The current price puts around 45% of Bitcoin holders with an on-paper loss, according to crypto intelligence firm IntoTheBlock.

According to the Glassnode chart, other times that saw similar levels of Bitcoin hodling were during the end of the bear markets of 2012, 2015, and 2018.

Last week, Coinbase's head of institutional research, David Duong, wrote in a July 12 report titled “The Elusive Bottom” that on-chain data suggests that recent BTC selling has been carried out “almost exclusively” by short-term speculators. Long-term BTC holders “have not been selling into the market weakness,” he added.

“These holders own a highly concentrated ~77% of the total supply, which is down slightly from 80% to start the year but still quite high,” he explained before adding:

“We see this is a positive sentiment indicator as we believe these holders are less likely to sell BTC during turbulent periods.”

Earlier in the month, Glassnode analysts noted that the Bitcoin market had seen an almost complete purge of “tourists,” noting that activity on the network is at levels concurrent with the deepest part of the bear market in 2018 and 2019.

Related: Bitcoin ready to attack key trendline, says data as BTC price holds $20K

Glassnode revealed that the number of active addresses and entities had seen a downtrend since November 2021, implying new and existing investors alike are not interacting with the network.

Additionally, the number of non-zero BTC addresses has reached an all-time high of 42,530,652, according to the firm.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Bitcoin Shatters 1,000,000,000 Address Milestone As Pressure on ‘Diamond Hand’ Crypto Holders Mounts: Glassnode

Bitcoin Shatters 1,000,000,000 Address Milestone As Pressure on ‘Diamond Hand’ Crypto Holders Mounts: Glassnode

Bitcoin has officially surpassed a massive network milestone. Users have now created more than 1 billion Bitcoin addresses, according to the crypto analytics firm Glassnode. Each unique address is essentially a series of letters and numbers representing a virtual location that BTC can be sent to. “Bitcoin (BTC) total number of addresses ever created just […]

The post Bitcoin Shatters 1,000,000,000 Address Milestone As Pressure on ‘Diamond Hand’ Crypto Holders Mounts: Glassnode appeared first on The Daily Hodl.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Will Bitcoin Fall to $13,800? — What an 80% Drawdown Will Look Like From Here

Will Bitcoin Fall to ,800? — What an 80% Drawdown Will Look Like From HereOn Monday, June 15, 2022, the price of bitcoin tapped a low not seen since mid-December 2020 as the price hit $20,080 per unit. A large number of crypto supporters are debating whether or not the drop is the market’s bottom or if the fall could lead to deeper losses. At the time of writing, […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Analyst Suggests Bitcoin’s Bottom Could Be $50K Assuming BTC Surpasses $200K This Cycle

Analyst Suggests Bitcoin’s Bottom Could Be K Assuming BTC Surpasses 0K This CycleThe price of bitcoin in October has shown signs of a double-bubble similar to the bull run in 2013, and speculators have been trying to guess the leading crypto asset’s top. On October 20, cryptocurrency market analyst Justin Bennett discussed bitcoin’s possible price floor after it reaches the top. Bennett suggests the end of this […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Fidelity Executive Believes Bitcoin’s Price ‘Bottom Is in’ After Last Month’s Market Carnage

Fidelity Executive Believes Bitcoin’s Price ‘Bottom Is in’ After Last Month’s Market CarnageOn Monday, Jurrien Timmer, director of global macro at Fidelity and co-manager of the Fidelity Global Strategies Fund, told his 56,000 Twitter followers his perspective on the current bitcoin prices. “In my view, it looks like the bottom is in,” the Fidelity executive explained, sharing a BTC/USD chart. Fidelity’s Jurrien Timmer Attempts to Call Bitcoin’s […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Investor Says Bitcoin Bull Run Is Not Just Getting Started, Run-up Is in the ‘Top of the 7th Inning’

Investor Says Bitcoin Bull Run Is Not Just Getting Started, Run-up Is in the 'Top of the 7th Inning'While bitcoin’s price has been consolidating for quite some time now, every now and then bulls have tried to press the price past the psychological all-time high captured in March. Meanwhile, a few bitcoiners have been saying that the bull market is “just getting started” even though the price has multiplied in value quite a […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum