Bitcoin analyst and co-founder of software firm Hypersheet Willy Woo believes that on-chain metrics show that BTC is not in a bear market despite observing “peak fear” levels. Speaking on the What Bitcoin Did podcast hosted by Peter McCormack on Jan. 30, Woo cited key metrics such as a strong number of long term holders (wallets holding for five months or longer) and growing … [Read more...] about ‘Peak fear’ but on-chain metrics say it’s not a bear market
Peak
Bitcoin will peak at $253K, Ethereum at $22K this cycle if 2016 halving bull run repeats
Bitcoin (BTC) may be over seven times higher than at its last halving, but if history repeats, that number could grow another 300% and more.As tracked by on-chain data source Ecoinometrics this month, BTC/USD has the potential to eclipse estimates simply by following historical precedent.Bitcoin: Compared to 2017, you ain’t seen nothing yetBitcoin currently trades 7.3 times its … [Read more...] about Bitcoin will peak at $253K, Ethereum at $22K this cycle if 2016 halving bull run repeats
Stablecoin activity drops after May peak
Stablecoin usage lost steam amid the recent crypto market downturn. From peaking at nearly $2 billion on May 19, the daily transaction volume has fallen off its 2021 average by about 60%. The significant drop begs the question about stablecoin activity in the current market environment.Unsurprisingly, the two cryptocurrencies that remain in a tight race for stablecoin dominance … [Read more...] about Stablecoin activity drops after May peak
Buy the rumor, sell the news? $10K Ethereum options are 88% down from their peak price
This year's 500% accumulated gain took Ether's (ETH) price to a $4,380 all-time high on May 12, and this rally was even more robust than the late-2017 move. The famous bull market, or bubble, depending on how you see it, took Ether's price on a 390% rally from $290 in November 2017 to $1,420 in mid-January 2018. Maybe this year's mega rally was a DeFi and NFT bubble that will … [Read more...] about Buy the rumor, sell the news? $10K Ethereum options are 88% down from their peak price
Historically accurate Bitcoin metric nears the next ‘potential’ price peak
Bitcoin (BTC) losing over 50% in a month may have a big silver lining as lower prices set up a classic bull flag.On Thursday, Philip Swift, creator of the Pi Cycle Top indicator, said that this year could still see a major Bitcoin price high. BTC price drop’s saving grace?Pi Cycle Top uses two moving averages — the 111-day and the 350-day multiplied by 2 — to determine likely … [Read more...] about Historically accurate Bitcoin metric nears the next ‘potential’ price peak