mardi, avril 13, 2021
  • Our partners
  • Our team
  • Our editors
  • Contact
No Result
View All Result
rzo logo
Advertisement
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • RZO COIN
  • Shop
  • Magazine
    • All
    • Audio
    • Camera
    • Laptop
    • Smartphone

    Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

    National Academy of Sciences endorses embryonic engineering

    Jack Dorsey says he’ll continue running both Square and Twitter

    Fujifilm X-T2 review: The definition of a great camera

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    Trending Tags

    • Best iPhone 7 deals
    • Apple Watch 2
    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • iOS 10
    • iPhone 7
    • Sillicon Valley
    • Gaming

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      The Analogue Nt Mini is the perfect NES console for video game lovers

      GoPro’s Karma drone is back on sale after design flaw made them fall out of the sky

  • News

    National Academy of Sciences endorses embryonic engineering

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    Fujifilm X-T2 review: The definition of a great camera

    The Analogue Nt Mini is the perfect NES console for video game lovers

    Using a mind reading device, ‘locked-in’ patients told researchers they’re happy

    Watch Cruise’s self-driving Bolt EV navigate smoothly to SF’s Dolores Park

  • Formation
  • EBOOKS
  • Trading
    • eToro
  • EXCHANGES
    • BLOCKCHAIN
  • Security

    To regain advertiser trust, Facebook is tracking ads by the millisecond

    National Academy of Sciences endorses embryonic engineering

    Google has been asked to take down over a million websites

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    • Computers

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Fujifilm X-T2 review: The definition of a great camera

      Shopify CEO attempts to defend continued hosting of Breitbart’s online store

      SpaceX targets February 18 for Dragon resupply mission to ISS

    • Applications

      Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Jack Dorsey says he’ll continue running both Square and Twitter

  • 🇺🇸
    • 🇨🇭
    • 🇫🇷
    • 🇬🇧
    • 🇨🇦
    • 🇷🇺
  • Home
  • RZO COIN
  • Shop
  • Magazine
    • All
    • Audio
    • Camera
    • Laptop
    • Smartphone

    Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

    National Academy of Sciences endorses embryonic engineering

    Jack Dorsey says he’ll continue running both Square and Twitter

    Fujifilm X-T2 review: The definition of a great camera

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    Trending Tags

    • Best iPhone 7 deals
    • Apple Watch 2
    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • iOS 10
    • iPhone 7
    • Sillicon Valley
    • Gaming

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      The Analogue Nt Mini is the perfect NES console for video game lovers

      GoPro’s Karma drone is back on sale after design flaw made them fall out of the sky

  • News

    National Academy of Sciences endorses embryonic engineering

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    Fujifilm X-T2 review: The definition of a great camera

    The Analogue Nt Mini is the perfect NES console for video game lovers

    Using a mind reading device, ‘locked-in’ patients told researchers they’re happy

    Watch Cruise’s self-driving Bolt EV navigate smoothly to SF’s Dolores Park

  • Formation
  • EBOOKS
  • Trading
    • eToro
  • EXCHANGES
    • BLOCKCHAIN
  • Security

    To regain advertiser trust, Facebook is tracking ads by the millisecond

    National Academy of Sciences endorses embryonic engineering

    Google has been asked to take down over a million websites

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    • Computers

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Fujifilm X-T2 review: The definition of a great camera

      Shopify CEO attempts to defend continued hosting of Breitbart’s online store

      SpaceX targets February 18 for Dragon resupply mission to ISS

    • Applications

      Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Jack Dorsey says he’ll continue running both Square and Twitter

  • 🇺🇸
    • 🇨🇭
    • 🇫🇷
    • 🇬🇧
    • 🇨🇦
    • 🇷🇺
RZO Magazine : Formation Ebooks Crypto univers
No Result
View All Result
Home Uncategorized

4 reasons Bitcoin’s climb to $16k is such a volatile rollercoaster

by
novembre 19, 2020
4 reasons Bitcoin’s climb to $16k is such a volatile rollercoaster
Share on FacebookShare on Twitter


The price of Bitcoin hit $16,000 on November 12 and it is exhibiting extreme volatility. After BTC achieved $16,150, it fell to as low as $15,600 within two hours. There appear to be four major factors behind this volatility.

The potential catalysts are a miners’ sell-off, whales taking profit, the significance of the $16,000 resistance level, and the lack of clarity in market direction.

The daily price chart of Bitcoin. Source: BTCUSD on TradingView

Bitcoin is rallying despite miners selling

According to the on-chain data from CryptoQuant and Glassnode, miners have been selling large amounts of BTC in recent weeks.

The Balance in Miner Wallets indicator from Glassnode shows the amount of BTC held in addresses of miners declined substantially since October. This indicates that miners have been increasingly selling BTC throughout the past three weeks.

Citing the data from Glassnode, a pseudonymous cryptocurrency researcher known as “Double-U” said:

“BTC balance in miner wallets seems to have started stabilizing after experiencing a large drop early November. An important metric to observe as #Bitcoin’s price battles ~15.9k resistance, a big milestone for heading towards new ATHs.”

The sell-off from miners is causing large volatility in the Bitcoin market because stablecoin inflows show a clear increase in buyer demand.

bitcoin
The amount of Bitcoin held in miner addresses. Source: Glassnode

Hence, there is an ongoing conflict between the selling pressure coming from miners and buyer demand from newly entering investors.

Whales are taking profit

Ki Young Ju, the CEO at CryptoQuant, said some wales have started to take profit. The executive noted that large dumps are unlikely, but minor pullbacks could emerge.

In past bull cycles, Bitcoin saw several 20% to 30% drops on the way to a new all-time high. As such, decent-size pullbacks would not be an unusual trend for BTC based on hits historical performance. Ki wrote:

“We might have some $BTC corrections here as the exchange whale ratio(24h MA) hits over 85%, but I think it won’t be a mass-dumping. Before the great sell-offs in 2018 and 2020, the exchange whale ratio(24h MA) were ranging btw 85%-90%.”

Exchange deposits often signify an intent to sell because whales mostly hold their funds on non-custodial wallets. In crypto, non-custodial wallets refer to addresses that the owner have complete control over.

Bitcoin
Bitcoin whales are increasingly depositing into exchanges. Source: CryptoQuant

When whales send their holdings to exchanges, it signifies that they are planning to sell in the near term.

After Bitcoin hit $16,150, which coincided with an increase in deposits from whales, BTC fell nearly 4% within several hours.

$16,000 is an important resistance level for Bitcoin

During a podcast in August 2020, Ark Invest CEO Cathie Wood said that Bitcoin surpassing $13,000 would mark a breakout.

She explained that, in technical terms, BTC exceeding $13,000 would mean little resistance until the $20,000 record-high. Wood stated:

“That $13,000 is important because if we were to get through that, then in technical terms, there would be very little resistance and we would probably be on our way back to the peaks we saw in late 2017 — so, around $20,000. Now, we’re not sure if that is going to happen. We could stay in a new trading range, just at a little bit of a higher level than the recent six to 10. Maybe we’re in the $10,000 to $13,000 range. Nonetheless, a breakout.”

BTC cleanly broke out of $13,000, confirmed $14,000 as support, and whale clusters have confirmed $15,000 as support. It is now on the verge of stabilizing above $16,000, which is critical for a ride to a new all-time high.

Lack of decisiveness above $16k

Albeit analysts believe Bitcoin would likely hit $20,000 by the year’s end, that is a potential 20% gain. Compared to what high-risk assets, like alternative cryptocurrencies, can potentially return, the risk-to-reward ratio for BTC longs is limited.

A pseudonymous, but well-known cryptocurrency trader known as “RookieXBT” wrote:

“To be honest, r/r on Bitcoin longs here is so sh*tty I’m starting to think that Bitcoin is close to putting in the high of the year before retracing / consolidating painfully for a few months December should be for alts. Should be…”

The post 4 reasons Bitcoin’s climb to $16k is such a volatile rollercoaster appeared first on CryptoSlate.





Source link

Tags: 16kBitcoinsclimbReasonsrollercoastervolatile

Laisser un commentaire Annuler la réponse

Votre adresse de messagerie ne sera pas publiée. Les champs obligatoires sont indiqués avec *

Recommended.

Market Wrap: Bitcoin Hangs Around $18K While Ether Locked in DeFi Declines

Market Wrap: Bitcoin Hangs Around $18K While Ether Locked in DeFi Declines

novembre 20, 2020
Bitcoin Was Not a Response to the Financial Crisis of 2008

Bitcoin Was Not a Response to the Financial Crisis of 2008

janvier 24, 2021

Trending.

Bitcoin Eyes $20K-Breakout as Morgan Stanley Predicts Dollar Crash

Bitcoin Eyes $20K-Breakout as Morgan Stanley Predicts Dollar Crash

décembre 3, 2020
DeFi Season? LINK, AAVE, ZRX and COMP Hit Record Price Highs, Outperforming Bitcoin

DeFi Season? LINK, AAVE, ZRX and COMP Hit Record Price Highs, Outperforming Bitcoin

février 5, 2021
Developers Implicated in Alleged Smart Contract ‘Rug Pull’

Developers Implicated in Alleged Smart Contract ‘Rug Pull’

décembre 2, 2020

The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

octobre 25, 2020
First Trust Advisors and SkyBridge Capital apply for Bitcoin ETF

First Trust Advisors and SkyBridge Capital apply for Bitcoin ETF

mars 20, 2021
RZO Magazine : Formation Ebooks Crypto univers

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow Us

Catégories

  • Apple
  • Applications
  • Audio
  • Camera
  • Computers
  • Gaming
  • Gear
  • Laptop
  • Microsoft
  • Photography
  • Review
  • Security
  • Smartphone
  • Uncategorized

Étiquettes

Ahead AllTime Analyst Analysts Apple Watch 2 Bank billion Bitcoin Bitcoins Blockchain BTC Bull Bullish Buying Guides CEO Coinbase crypto Data DeFi Digital Ether Ethereum Exchange fund Heres high Highs Hit Hits investors iOS 10 Litecoin Market Million Mining Mover Options Playstation 4 Pro Price Rally Record Sillicon Valley Trading Wrap XRP

Recent News

A ‘physical’ Litecoin ETF is coming to Germany’s Xetra exchange

A ‘physical’ Litecoin ETF is coming to Germany’s Xetra exchange

avril 13, 2021
Daily Bitcoin Transaction Volume Thriving, Nears Milestone $10 Billion

Daily Bitcoin Transaction Volume Thriving, Nears Milestone $10 Billion

avril 13, 2021
  • Our partners
  • Our team
  • Our editors
  • Contact

© 2020 All rights reserved RZO COIN Website created by Olivier Obé with Wordpress

No Result
View All Result
  • Home
  • Review
  • Apple
  • Applications
  • Computers
  • Gaming
  • Gear
    • Audio
    • Camera
    • Smartphone
  • Microsoft
  • Photography
  • Security

© 2020 All rights reserved RZO COIN Website created by Olivier Obé with Wordpress

en English
nl Dutchen Englishfr Frenchde Germanes Spanish