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Bitcoin’s drop to $10,000 isn’t reason enough to sell

It feels weird writing about Bitcoin’s drop to $10,000 since usually, the headlines are all about Bitcoin’s rise above $10,000. However, with the market as bullish as it is now, a drop to $10,000 seems to be much worse than it actually is, compared to a rise over it. Even so, how bad is it? The sentiment to sell has been rising over the past few weeks, even when the price was over $11,000 and briefly over $12,000, but with last week’s drop to $10,200, and no jumps in the time since the need to sell has become a desperation.…

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Beware hodlers, Bitcoin’s bull run can’t be forced

Despite the fact that Bitcoin has been sending its valuation for a toss over the past few days, long-time hodlers in the market have continued to remain unstirred. In fact, many reports have circulated over the last few weeks, with some suggesting that more than 60% of the total BTC in supply hasn’t moved in a year. Further, Glassnode recently observed that 44% of the same hadn’t been moved in 3 years. Source: Twitter Now, according to data, the charts for the metric ‘Bitcoin: Coin Days Destroyed’ have registered a recent low, a finding suggestive of the fact that long-term…

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Is Bitcoin’s price disrupting ‘Hodling’ cycle?

Bitcoin‘s market price is under a transitional period and the same can be said for the market sentiment at the moment. Correlation is a huge part of the market and any price movement often changes the metric which leads to important alterations. The asset’s price recently topped at $12,500 and it led to an interesting development in the ecosystem. Source: Santiment As indicated in the above chart, Bitcoin’s recent 7 percent drop came at the back of an extremely high spike in terms of Bitcoin’s Token Age Consumed Index. It was believed that the spike in this index caused high…

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