$9,000 would be the ideal “buy the dip” opportunity, says Vays, with $7,000 soon to form Bitcoin’s untested 200-week moving average.
Crypto markets provide a bird’s-eye view of a burgeoning crypto economy including Bitcoin (BTC) and a host of other crypto networks. The cryptocurrency market is radically different from the traditional global financial and commodities markets. Not only is the structure of these underlying assets fundamentally different, as they are natively digital and noncustodial in many cases, but the market participants are different as well.
Cryptocurrency networks such as Bitcoin feature a unique composition of stakeholders. There are the miners, which provide security and uptime to the network while earning cryptocurrency for their efforts; traders and investors navigating the ebbs and flows of the market for maximum profits; developers, who are the open-source builders working toward scaling and improving these protocols; and individual users, who may speculate or use their crypto to some productive capacity.
The dynamics among these stakeholders in these decentralized, open, permissionless systems are in striking contrast to traditional finance and are main topics of discourse in the space.
Stay tuned to news, analysis and in-depth coverage of crypto markets with Cointelegraph.
Bears lurk as Bitcoin price is down and $284M in CME BTC options are set to expire on Friday.5434
Bitcoin and altcoins are at risk of a deeper correction if they do not rise above their immediate resistance levels soon.7296
High annual percentage yields are enticing to DeFi investors but are whales the only people making money?4694
Leading DeFi token Uniswap has seen massive losses recently following in the footsteps of CRV and SUSHI.2913
Rising by $200 each month, the 200-week moving average has formed an implied BTC price floor since Bitcoin first appeared in 2009.6579
Retail traders were rattled by Bitcoin’s $900 drop but BTC options data remains bullish ahead of Friday’s expiry.8322
New survey data shows institutional investors intend to increase their Bitcoin allocations regardless of short term dips in BTC price.8189
Earth is reaching a historic “inflection point,” Keiser warns after Singapore’s central bank admits that more debt is not an option for anyone.6154
2020 is showing that investors are more skewed to hodling than speculating, says Delphi Digital, in line with various findings from the past few months.7117
Ethereum’s correction triggered a DeFi-token collapse which resulted in YFI and UNI dropping by 46%.12991
The market has taken a bearish turn and Bitcoin and altcoins will need strong relief rallies in order to restore their uptrends.19112
Ethereum price corrected 16% in 4 days, led by these three key factors.16933
The market is red and Bitcoin price may close the $9.6K CME gap if $10.2K fails to hold as support.8049
Bitcoin has not seen three positive consecutive quarters since 2017, historical data shows.6215