• Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
Newsletter
Crypto Hoarding
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
Crypto Hoarding
No Result
View All Result
Home Bitcoin

Bitcoin may be entering the later stage of a bull market, crypto analysts say, as talk of a price plunge .. – Business Insider

Admin by Admin
March 23, 2021
in Bitcoin
0
Bitcoin may be entering the later stage of a bull market, crypto analysts say, as talk of a price plunge .. – Business Insider
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
2021 03 17T154822Z_709828542_RC23DM9O9NVB_RTRMADP_3_MORGAN STANLEY BITCOIN.JPG
Bitcoin has soared by more than 700% in a year.

Dado Ruvic/Getty Images

  • Bitcoin conditions are “similar to the second half or later stages of a bull market,” Glassnode said.
  • Analysts pointed to signs of long-term holders spending coins and to a reduction in big wallets.
  • Talk of a bitcoin price plunge has grown; a crypto entrepreneur said there could be a 90% drop.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

Bitcoin may be entering the second half or later stages of a bull market, crypto analysts at Glassnode said on Monday, as nervousness grows in some quarters about a plunge in the price.

Related articles

After Losing $60 Million in Bitcoin, El Salvador’s President Buys More – Decrypt

After Losing $60 Million in Bitcoin, El Salvador’s President Buys More – Decrypt

July 1, 2022
Bitcoin trader says expect more chop, downside, then sideways price action for BTC this summer – Cointelegraph

Bitcoin trader says expect more chop, downside, then sideways price action for BTC this summer – Cointelegraph

July 1, 2022

Glassnode’s weekly analysis found that there had been a pickup in “wealth transfers” from long-term bitcoin holders to newer speculators, which the company said was reminiscent of market peaks.

The report said bitcoin bull markets eventually reach a “euphoric top” that materializes as big holders increasingly spending their coins to realize profits.

Glassnode estimated that long-term bitcoin holders had reactivated about 9% of supply so far in 2021 by spending coins, though this was below the 17% reactivation before the market’s crash in 2017.

“These studies suggest conditions are similar to the second half or later stages of a bull market,” Glassnode said.

The bitcoin price was down 6% on Tuesday, to $54,294, well off a high of $62,000 earlier in March but still up by about 700% from a year ago.

Glassnode also said on Tuesday that the biggest players – wallets with 1,000 to 10,000 bitcoins – had cut their holdings by 307,000 bitcoins since December.

Read more: Hedge funds are ramping up bets against Chamath Palihapitiya’s SPACs and have already taken home $40 million this year. Here’s a detailed look at the wagers they’re making.

Timothy Peterson, an investment manager, tweeted that falls in big holdings “are often but not always associated with bear markets.”

On Monday, Bobby Lee, the founder of the crypto exchange BTCC, told CNBC that 2021 would be a bull market for bitcoin, of the sort that comes around every three or four years. He said the bitcoin price could go as high as $300,000 this year.

But Lee said that the “bubble” was likely to pop. “People should be aware that it could fall as much as 80% to 90% of its value from the all-time peak,” he said.

However, many bitcoin advocates have pointed to growing institutional interest as a reason bitcoin is unlikely to crash as it has in the past. Visa, Morgan Stanley, and JPMorgan are some of the latest big names to get involved.

Share76Tweet47

Related Posts

After Losing $60 Million in Bitcoin, El Salvador’s President Buys More – Decrypt

After Losing $60 Million in Bitcoin, El Salvador’s President Buys More – Decrypt

by Admin
July 1, 2022
0

President of El Salvador Nayib Bukele must truly believe in Bitcoin—or love losing money.Undeterred by the massive losses incurred by...

Bitcoin trader says expect more chop, downside, then sideways price action for BTC this summer – Cointelegraph

Bitcoin trader says expect more chop, downside, then sideways price action for BTC this summer – Cointelegraph

by Admin
July 1, 2022
0

Discussion of the state of the crypto market has been a dominant headline over the past few weeks as non-crypto...

Five reasons bitcoin had its worst quarter in more than a decade – CNBC

Five reasons bitcoin had its worst quarter in more than a decade – CNBC

by Admin
July 1, 2022
0

1. Macroeconomic pressureDuring the quarter, the U.S. Federal Reserve carried out two aggressive interest rate hikes to battle rampant inflation....

Bitcoin on track for its worst quarter in more than a decade – CNBC

Bitcoin on track for its worst quarter in more than a decade – CNBC

by Admin
June 30, 2022
0

Bitcoin is on track to post its worst quarterly loss in more than a decade.The world's largest cryptocurrency has lost...

Bitcoin posts its worst quarter in more than a decade – CNBC

Bitcoin posts its worst quarter in more than a decade – CNBC

by Admin
June 30, 2022
0

Bitcoin on Thursday posted its worst quarterly loss in more than a decade.The world's largest cryptocurrency has lost around 58%...

Load More
  • Trending
  • Comments
  • Latest
Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

April 21, 2021

SteveWillDoIt reveals hacker stole his crypto wallet: “I lost a lot of money” – Dexerto

July 26, 2021
Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

February 11, 2022
DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

April 15, 2021
Why Blockchain-Based IDs Are Better Than Traditional IDs? – The Coin Republic

Why Blockchain-Based IDs Are Better Than Traditional IDs? – The Coin Republic

0

Rivals Ripple and R3 partner up | PaymentsSource – American Banker

0
Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

0

Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches – Coindesk

0
Why Blockchain-Based IDs Are Better Than Traditional IDs? – The Coin Republic

Why Blockchain-Based IDs Are Better Than Traditional IDs? – The Coin Republic

July 1, 2022
After Losing $60 Million in Bitcoin, El Salvador’s President Buys More – Decrypt

After Losing $60 Million in Bitcoin, El Salvador’s President Buys More – Decrypt

July 1, 2022
Bitcoin trader says expect more chop, downside, then sideways price action for BTC this summer – Cointelegraph

Bitcoin trader says expect more chop, downside, then sideways price action for BTC this summer – Cointelegraph

July 1, 2022
Anonymous Bitcoin Whale Just Moved $77M Worth Of BTC Off Coinbase – Benzinga – Benzinga

Anonymous Bitcoin Whale Just Moved $77M Worth Of BTC Off Coinbase – Benzinga – Benzinga

July 1, 2022
Crypto Hoarding

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

Categories tes

  • Bitcoin
  • Blockchain
  • Cryptocurrency Hackers
  • Ethereum
  • Litecoin
  • Ripple

Newsletter

[mc4wp_form]

  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

Copyright (c) 2021 - Crypto Hoarding - All Rights Reserved - web design by TechyRack