What Bitcoin’s Valuation Says About Its Volatility

Noelle Acheson is a veteran of company analysis and CoinDesk’s Director of Research. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a weekly newsletter focused on institutional investment in crypto assets. Sign up for free here. For a primer on crypto valuation concepts, you can download our free report here. Most of us think we understand the term “volatility.” We digest headlines about tense political situations around the world; we are wary of explosive chemical compounds; some of…

Bitcoin’s Total Share of Crypto Market Now Highest Since March 2017

View Bitcoin’s price recovery from the Aug. 29 low of $9,320 is backed by an uptick in the dominance rate to 30-month highs. Weak trading volumes, however, indicate the recovery could be short-lived and a fall back to $9,750 could be in the offing in the next day or two. Weekly chart indicators continue to call a bearish move. A high-volume UTC close above the bearish lower high of $10,956 (Aug. 20 high) is needed to revive the short-term bullish outlook. A weekly close (Sunday, UTC) above $12,000 is needed…

Global Stock Markets’ Aghast August Dumped 17x Bitcoin’s Market Cap – CCN Markets

A brutal August makes a notable setback for markets home and abroad. | Source: Shutterstock By CCN Markets: August was a brutal month for investors across the world. Global stock markets shed $3 trillion as a dirty cocktail of recession warnings and trade war escalation rocked the markets. To put that into perspective, $3 trillion is 17 times larger than the entire market capitalization of bitcoin, all wiped out in a month. It’s a reminder that bitcoin’s market cap is still a drop in the ocean. A tiny, nascent asset…

Infographic: Bitcoin’s Market Cap in Perspective

Bitcoin has always been the leading cryptocurrency in market capitalization — the total value of its circulating supply in dollars — by a wide margin. But how does bitcoin’s market cap compare to the rest of the world’s markets and assets? As this infographic illustrates, bitcoin’s market cap is dwarfed by traditional asset classes. It is much smaller than other stores of value like gold and the global real estate market. Vastly more money has been invested in Silicon Valley. And bitcoin is similarly overshadowed by the gross domestic products of…

Bitcoin’s Growing UTXO Problem and How Utreexo Can Help Solve It

Scalability is still a point of concern for Bitcoin — but clever minds continue to produce innovative proposals to resolve bottlenecks. One of the specific scalability concerns is the growth of the unspent transaction output (UTXO) data set held by Bitcoin nodes. This is the list of all (fractions of) bitcoin in existence and details on how it can be spent. Unfortunately, this list tends to grow over time, particularly as new users enter the system — they’ll have their coins reflected in UTXOs as well. In an attempt to…

Bitcoin’s Price is Up More Than $1K Since Bakkt Futures News

View Bitcoin has risen by $1,000 since Friday’s announcement by Bakkt exchange that it will be launching physically-settled bitcoin futures on Sept. 23. The price rise has neutralized the bearish setup on the intraday charts seen last week. The gains could be extended further to $11,000, as the hourly chart is reporting a bullish continuation pattern. The weekly chart continues to call a deeper pullback to $9,000 with key moving averages (MAs) producing a first bearish crossover since February. A weekly close above $12,000 is needed for a complete bullish…

Why the Inverted Yield Curve Failed to Boost Bitcoin’s Price

Wednesday’s yield curve inversion should have been bullish for bitcoin since it’s a major recession indicator, but the BTC price fell. Market observers explain why. | Source: Shutterstock By CCN Markets: The inverted yield curve on Wednesday should have been a catalyst in moving the bitcoin price higher. That’s because it signaled a recession, which tanked the stock market. It was just about a week ago that the bitcoin price rose in the wake of macroeconomics that sank the stock market. Observers cheered that finally the crypto was being seen…

Bitcoin’s Price Looks Set for a Drop to $10K

View Bitcoin appears on track to test the psychological support of $10,000, as the daily chart moving averages and other key indicators have turned bearish. A high-volume price breakdown seen on the hourly chart also favors a drop to $10,000. However, the hourly chart indicators are reporting a bullish divergence. So, a price bounce to $10,700 could precede a drop to $10,000. The outlook as per the daily chart would turn bullish if prices print a UTC close above $12,000. Bitcoin (BTC) is looking south, having retraced more than 50…

This Chart Perfectly Shows Bitcoin’s Brutal Dominance over Altcoins

Bitcoin’s dominance over altcoins grows ever stronger. Source: Shutterstock By CCN Markets: Bitcoin raged back into a bull market in 2019, leaving the rest of the cryptocurrency market in the dust.  While bitcoin is up 178 percent this year alone, Ripple (XRP) and Stellar (XLM), are down more than 15 percent. Despite desperate hopes of an ‘altseason’ surge, most altcoins remain stagnant while bitcoin’s dominance has gone from strength to strength, currently sitting at 71 percent according to Messari. One chart, created by on-chain analyst Willy Woo, perfectly captures bitcoin’s…

Bitcoin’s Bulls Now Have a Target of $13.2K, Monthly Chart Suggests

View Bitcoin charted an “inside bar” pattern last month, making $13,200 the level to beat for the bulls. A convincing move above $13,200 would imply a resumption of the rally from lows near $4,050 seen in April. A break below $9,049 (July’s low) would confirm a bearish inside bar reversal on the monthly chart. The hourly chart indicates prices could drop below $11,000 in the next 24 hours or so. The bearish case would weaken if lower-highs pattern on the hourly chart is invalidated with a move above $11,431. Bitcoin…