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Even Bitcoin Fundamentals Are Hinting At a Significant Correction Ahead

Bitcoin just had its largest 48-hour pullback since May 2020, back when the asset’s halving took place. The drop in price has the cryptocurrency now trading below a key fundamental level. A deeper dive into other Bitcoin fundamentals may be hinting that a more severe correction that may have only just started. Here’s what the cryptocurrency’s underlying network metrics are saying about what’s about to come in terms of price action across the crypto market. Bitcoin Energy Value, Production Costs, and Hash Ribbons Potentially Signal Deep Downside Technical analysis across any and all assets is exactly the same: open up…

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Warren Buffet Buys Gold Against his Previous Beliefs, Is Bitcoin Next?

Reportedly, Warren Buffet has bought 21 million shares of Barrick Gold. A gold mining company which has maintained a strong correlation with movement in Gold. What Changed Warren’s Mind? In a statement from his previously held believes, Buffet stands for a counter-trading strategy to make money in the market. He says that the rhetoric of an economic collapse drives the masses to gold, whereas one should be deploying their assets into businesses to combat the high rates. Hence, his choice of inflationary hedges are apparently businesses, farms or real estate; specifically coco-cola, IBM etc., Nic Carter, the founder of Coinmetrics…

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Charles Edwards: BTC Could Shoot Up with Banks’ Help

Charles Edwards – the digital asset manager at Capriole – says the price of bitcoin could easily shoot up to $20,000 if U.S. banks put in at least one percent of their assets into crypto. Charles Edwards: Banks Can Make BTC Hit $20,000 This may be asking much from banks, but one percent, for the most part, isn’t much, and it looks like interest in bitcoin has been increasing over the past several months between both retailers and institutional players alike, so perhaps the figure he’s suggesting isn’t that out of place. On Twitter, Edwards stated: If U.S. banks put…

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Analysts Claim Bitcoin’s 76 Day Stability ‘Bullish’: Hash Ribbons Cross and 2016 Patterns

The price of bitcoin has been very stable lately, and the crypto asset has been trading in a less volatile range just above $9k per coin for 76 consecutive days. After the third halving, the price of bitcoin has also been far more stable, in contrast to the price action after the second halving. However, bitcoin’s price still seems to be following a similar route to 2016 when the digital asset’s price trended sideways for quite some time, until it eventually led to the all-time price highs in 2017. Cryptocurrency investors and evangelists have been discussing how bitcoin (BTC) prices…

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