Calm before the storm? Analyst says $20K Bitcoin possible in 3 months

The price of Bitcoin (BTC) has been consolidating within a tight range for several months. If the top cryptocurrency successfully breaks out, Bitazu Capital founding partner Mohit Sorout says a record-high would be imminent. Since July 2020, Bitcoin has been ranging between $10,200 and $11,800, a 15% range. It has seen subdued volatility for a prolonged period, except for some short instances of a volatility spike. When Bitcoin stays stable for a long time in a tight price range, a major price movement typically occurs.  Whether a breakout would occur…

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Perfect storm leads to big sell-off for Bitcoin and DeFi: Weekly recap

Digital asset markets were on a parabolic surge until investor confidence took a major hit to close out the week with a bearish tilt due to a perfect storm of negativity. Before reading the rundown, catch up on the most-read stories centered around the price of Bitcoin, the macroeconomic picture and the DeFi phenomenon gaining traction.  A significant drop in equities markets was led by blue-chip stocks that had been at all-time highs. As this occurred, many tokens tied to DeFi platforms corrected sharply, most notably, SushiSwap (SUSHI) which lost…

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A Storm Is Brewing for Ethereum

The latest findings in Cointelegraph Consulting’s biweekly newsletter suggest that Ether won’t sustain its rally. The 365-day market-value-to-realized-value ratio of Ethereum’s native Ether (ETH) token is currently at a two-year high of 1.88. This indicates that Ether’s long-term holders are presently up 88% on their initial investment, on average. This is the highest average profit for Ether’s long-term holders since February 2018, and there’s a rising incentive to sell and take profits. Over the past 30 days, the collective balance of Ether mining pools has shrunk by more than 80,000…

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No Trader Interest or Calm Before the ETH Storm?

Media magnate Steve Forbes recently criticized cryptocurrencies for their volatility, saying that one day they can be a steak, and the next day they can turn into dog food. Price fluctuations have accompanied the digital currency market since its inception and have been an important reason for the interest of traders in cryptocurrency. But it seems that something has gone wrong in the last couple of months. As strange as it seems, Bitcoin (BTC) and Ether (ETH) have been demonstrating unusual stability since late May. And while a relatively stable…

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Bitcoin Price Touches $10K Amid 2020’s Macroeconomic Storm and Covid-19 Fears

On May 7, 2020, the price of a single bitcoin crossed $10,000 per unit in USD value as the network only has four days until the halving, otherwise known as the “quantitative hardening” by some investors. The cryptocurrency’s per annum inflation rate will drop from 3.6% to 1.8% on or around May 12, 2020, as banks like the Federal Reserve flood the monetary system with stimulus by creating trillions out of thin air. The digital asset BTC has made headlines today, as the price per unit has once again crossed…

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Blockchain Expo Tokyo Series Set to Take Business Scene by Storm

Taking place April 1 – 3, Japan’s premier blockchain exposition, Blockchain Expo Tokyo, will feature industry-leading speakers including CEOs, academics, and government officials. The exhibition floor will be packed with companies from various industries, with each focusing on harnessing the power of blockchain technology. The trade show is scheduled twice yearly, with the fall Blockchain Expo Tokyo to be held October 28 – 31. Japan is at the heart of cryptocurrency innovation with its tech-savvy culture and positive regulatory environment. This April 1 – 3, Blockchain Expo is bringing its…

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