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CoinNews

At $61,594 Bitcoin is at fair market price according to the power law model

by CoinNews
written by CoinNews

On a monumental day for Bitcoin, where it opened at $56,900, the flagship digital asset has officially exited the bear market according to the Bitcoin Power Law model. After surpassing $61,000, it has now reached the ‘fair price’ of $61,594, aligning with the projected power law price.

Power law model for Bitcoin's price (Source: Bitcoin fair price)
Power law model for Bitcoin’s price (Source: Bitcoin fair price)

First posited by Giovanni Santostasi, the Bitcoin Power Law is a model that attempts to predict Bitcoin’s long-term price trajectory based on its historical tendency to follow a roughly straight line when plotted on a logarithmic scale. This pattern suggests an underlying pattern to Bitcoin’s growth.

The model distinguishes between “fair price” (the trend line representing an average valuation) and “bottom price” (historically about 58% below the fair price, indicating a potential floor). These values are calculated using a formula based on the number of days since Bitcoin’s creation (Genesis Block) and a specific exponent:

Fair Price = 1.0117e-17*(days since Genesis Block)^5.82.

The chart below shows a section of the power law model and its relative fair price as shared by Santostasi on Feb. 25. Bitcoin has since passed the current ‘fair price,’ indicating it is heading toward the bull market ‘bubble’ identified as a key component of each Bitcoin halving cycle within the power model.

Bitcoin power law chart (@Giovann35084111)
Bitcoin power law chart (@Giovann35084111)

Within the power law model, the price deviates from the ‘fair value’ above and below during bull and bear markets but ultimately returns to the fair value over time. Historically, the model has been highly accurate. However, it’s important to note that this is a model, and while it has held up surprisingly well at times, market forces can change, and the model cannot account for all factors potentially influencing Bitcoin’s price.

The post At $61,594 Bitcoin is at fair market price according to the power law model appeared first on CryptoSlate.

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Finance

Is leap day lucky for the stock market? Here’s what history says.

by CoinNews
written by CoinNews

Leap day 2024 is almost upon us and investors may be wondering if a date associated with once topsy-turvy traditions has any significance for a stock market that’s kicked off the year with an epic rally.

The answer, though it should be taken with a huge grain of salt, is that leap days tend to be not so lucky for stock-market investors. The S&P 500
SPX
and Dow Jones Industrial Average
DJIA
have both tended to decline on Feb. 29, which is added to the calendar in leap years, which occur every four years.

Why the grain of salt? The sample size is quite small and likely not big enough to pass muster with statistically minded traders, said Matthew Weller, global head of research at City Index and Forex.com, in a note earlier this week.

Nevertheless, “it’s still worth being aware of the potential for lower than usual stock market returns on leap day,” Weller wrote, observing that for those more inclined to track recent trends, the stock indexes have fallen on each of the last three leap days when the market was open. Feb. 29 fell on a Saturday in 2020, the most recent leap year.


Dow Jones Market Data

According to Dow Jones Market Data, the S&P 500 has seen a median fall of 0.3% on the 13 leap days going back to 1952 (leap day in 2020 fell on a Saturday, when the market was closed). That compares to a median rise of 0.05% for the index on all other days since 1950. The S&P 500 has turned in a positive performance on just four of those leap days, or 31% of the time, versus a 52% positive rate on all other days.

It’s a similar story for the Dow, with the blue-chip gauge posting a median decline of 0.13% on leap days versus a median 0.05% gain on all other days. It’s up just 38% of the time on leap days, versus 53% for all other days.

Stocks are rolling into leap day this year with a head of steam. The Dow and S&P 500 have notched more than a dozen record finishes each so far in 2024. Through Tuesday’s close, the Dow had gained 2.2% in February and 3.4% in the year to date. The S&P 500 was up 4.8% in February and 6.5% since Dec. 31.

“Acknowledging the obvious sample-size limitations of this analysis, there’s at least some statistical evidence that the stock market has tended to underperform on leap day, so bulls may want to exercise caution, especially after U.S. indices’ strong performance over the last month (and indeed last four months!),” Weller wrote.

—Michael Destafano contributed.

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CoinNews

Peter Brandt Raises Bitcoin Price Target to $200,000 for the Current Bull Market Cycle

by CoinNews
written by CoinNews

Peter Brandt Raises Bitcoin Price Target to $200,000 for the Current Bull Market CycleVeteran trader Peter Brandt has provided an update on his bitcoin price prediction. He explained that the price target for “the current bull market cycle” scheduled to end in Aug/Sep next year has been raised from $120,000 to $200,000. Peter Brandt on Bitcoin Bull Market Cycle Peter Brandt provided an update on his bitcoin price […]

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Finance

Warren Buffett says the stock market is increasingly ‘casino-like’—and young investors need to remember this ‘one fact of financial life’ to avoid the mess

by CoinNews
written by CoinNews

Berkshire Hathaway CEO Warren Buffett shared a moving tribute to his fallen friend and right-hand man Charlie Munger in his annual shareholder letter over the weekend. The Oracle of Omaha lauded Munger as the “architect” of Berkshire’s success, eulogizing the “abominable no-man” by discussing some of his favorite whipping posts—including his comparison of the modern stock market to a casino.

“For whatever reasons, markets now exhibit far more casino-like behavior than they did when I was young,” Buffett wrote, adding that “though the stock market is massively larger than it was in our early years, today’s active participants are neither more emotionally stable nor better taught than when I was in school.”

Buffett’s words of caution were definitely a throwback to some of Munger’s favorite lines. Throughout his more than 75-year career, Munger argued that there were two types of people who buy shares in the stock market: investors and speculators. The investors—who are, above all, disciplined, hard-working, and thoughtful when buying assets—were always Munger’s people. But the speculators—those who seek nothing more than a quick buck without care for the intrinsic value of what they’re buying—well, Munger really didn’t like them much.

“They love gambling, and the trouble is, it’s like taking heroin,” he said in an April 2022 interview with Berkshire Hathaway investment officer Todd Combs. “A certain percentage of people when they start just overdo it. It’s that addictive. It’s absolutely crazy, it’s gone berserk. Civilization would have been a lot better without it.”

Like Munger, Buffett fears that too many modern investors have become entranced by speculative investing. Rather than digging into Securities and Exchange Commission (SEC) filings to find the best possible business to invest in, too many investors, particularly young investors, are simply buying stocks that are trendy, hoping someone else will pay more for them a few months, days, or even hours down the line. What or who does Buffett blame for this rise in “casino-like” behavior in the markets? Well, the democratization and gamification of trading is certainly not helping. As the billionaire put it: “The casino now resides in many homes and daily tempts the occupants.”

Becoming a stock market ‘casino’

Part of the reason the stock market is becoming increasingly “casino-like,” according to Buffett, is simply that buying and selling stock has never been easier—or more fun—due to the rise of online trading applications. The SEC is happy about the first part of that sentence, but not so much the second. Here’s how SEC Chair Gary Gensler put it in a statement in 2021 after launching an investigation into the gamification of trading applications:

“While these new technologies can bring us greater access and product choice, they also raise questions as to whether we as investors are appropriately protected when we trade and get financial advice…In many cases, these features may encourage investors to trade more often, invest in different products, or change their investment strategy.”

Like Gensler, Buffett is worried that the gamification of trading is leading to an increase in speculators in the market, and in this modern era of connectivity, the Berkshire CEO worries that could lead market “panics” to happen more rapidly.

“Speed of communication and the wonders of technology facilitate instant worldwide paralysis, and we have come a long way since smoke signals,” he warned. “Such instant panics won’t happen often—but they will happen.”

Remember this key ‘fact of financial life’—and you’ll avoid gambling in the market

For the speculators that are using the stock market like a casino, Buffett had one main tip: Remember who is really making money from your gambling—the House.

“One fact of financial life should never be forgotten,” he wrote. “Wall Street – to use the term in its figurative sense – would like its customers to make money, but what truly causes its denizens’ juices to flow is feverish activity.”

Modern brokerage firms, at times, entice investors into stocks or complicated derivatives with new and fancy features on their trading apps. But they aren’t doing it to help the average retail investor, they’re doing it because they make money from fees on every trade. That means the more trades, the better it is for the House, even if that’s not true for investors.

During periods where more of the general public gets interested in stocks, Buffett explained, “whatever foolishness can be marketed will be vigorously marketed – not by everyone but always by someone.”

The Berkshire CEO noted that when the scene then “turns ugly,” and speculators lose money during a market meltdown, they shouldn’t expect a helping hand—or justice—either.

“The politicians then become enraged; the most flagrant perpetrators of misdeeds slip away, rich and unpunished; and your friend next door becomes bewildered, poorer and sometimes vengeful,” he wrote. “Money, he learns, has trumped morality.”

This story was originally featured on Fortune.com

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CoinNews

Stablecoin Market Jumps by Over $2.5 Billion in 10 Days, Led by Rise in Key Players

by CoinNews
written by CoinNews

Stablecoin Market Jumps by Over $2.5 Billion in 10 Days, Led by Rise in Key PlayersIn the opening fortnight of February, the stablecoin domain expanded by $1.7 billion, marking a significant rise. The value of the fiat token crypto market has once again risen witnessing an increase exceeding $2.5 billion over the past ten days. Specifically, three stablecoins have driven this upswing, with the stablecoin ethena usde at the forefront […]

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Finance

2 Stocks I Just Bought — Even With the Market Near All-Time Highs

by CoinNews
written by CoinNews

The S&P 500 is at its highest level ever, but that doesn’t mean that there aren’t any bargains to be found in the market. In fact, both I and colleague Tyler Crowe recently bought some stocks that look like incredible values for long-term investors, and in this video, we’ll tell you all about them.

*Stock prices used were the afternoon prices of Feb. 22, 2024. The video was published on Feb. 23, 2024.

Matt Frankel has positions in PayPal. Tyler Crowe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends PayPal. The Motley Fool recommends the following options: short March 2024 $67.50 calls on PayPal. The Motley Fool has a disclosure policy. Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

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CoinNews

Could It Hit $6 Trillion Market Cap?

by CoinNews
written by CoinNews

In recent years, the debate surrounding Bitcoin’s (BTC) potential market share relative to gold has garnered significant attention, as recently approved Bitcoin Exchange-Traded Funds (ETFs) can bring Bitcoin significantly closer to gold in key metrics.

Jurrien Timmer, Director of Global Macro at Fidelity Investments, has put forward an analysis that sheds light on this subject. By examining the value of “monetary gold” and Bitcoin’s market capitalization, as well as considering the impact of halvings on Bitcoin’s supply, Timmer presents insights into the future dynamics of these two assets. 

Gold Vs Bitcoin

Timmer’s analysis begins by estimating the share of gold held by central banks and private investors for monetary purposes, excluding jewelry and industrial usage. While this estimation is not exact, based on data from the World Gold Council, Timmer suggests that monetary gold accounts for approximately 40% of the total above-ground gold.

Drawing upon his previous calculations, Timmer posits that Bitcoin has the potential to capture around a quarter of the monetary gold market, with monetary gold valued at around $6 trillion and Bitcoin’s market capitalization at $1 trillion.

Timmer further delves into the impact of Bitcoin halvings on its price. Historically, halvings have had a substantial effect on Bitcoin’s value. However, Timmer raises the hypothesis that diminishing returns may occur in the future as the incremental supply of new Bitcoin decreases.

By comparing the outstanding supply and incremental supply of Bitcoin with those of gold, Timmer demonstrates that the diminishing impact of the halvings is likely to be more pronounced in the future. 

As the number of coins available for mining dwindles, the influence of each subsequent halving event on Bitcoin’s price may diminish. This insight prompts Timmer to explore alternative ways to project Bitcoin’s price trajectory.

BTC’s Price Projections

To account for the diminishing impact of halvings, Timmer introduces the concept of a modified Stock To Flow (S2F) curve. This curve is derived by overlaying an asymptotic supply curve, representing the percentage of coins mined relative to the final supply cap, onto the original S2F curve.

Timmer proposes using a regression formula incorporating PlanB’s original S2F curve and the asymptotic supply curve as independent variables. This modified S2F curve aligns more closely with the supply dynamics of gold, reflecting a scenario in which Bitcoin’s scarcity advantage continues, but its impact on price gradually diminishes over time.

Bitcoin
BTC’s price projections from gold’s S2F. Source: Jurrien Timmer on X

Using the modified S2F model and considering the supply characteristics of gold, Timmer generates hypothetical price projections for Bitcoin that place the cryptocurrency at approximately $100,000 by the end of 2024.

According to Timmer, if Bitcoin were to capture a quarter of the monetary gold market, it would represent a remarkable shift in the global distribution of wealth, which would gradually drive up the cryptocurrency’s price over the coming years.

Bitcoin
BTC’s price is currently valued at $51,100 on the daily chart. Source: BTCUSD on TradingView.com

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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CoinNews

Nvidia sets stock market record with $247 billion addition to market cap in one-day – Bloomberg

by CoinNews
written by CoinNews

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CoinNews

How Bitcoin ETFs, the halving, and bull market is shaping crypto, according to Bitget

by CoinNews
written by CoinNews

In this interview with Jamie Elkaleh, Bitget Regional Growth & Country Manager, we delve into the dynamic landscape of the crypto market, examining the pivotal roles of Bitcoin Spot Exchange-Traded Funds (ETFs), the anticipated Bitcoin Halving in April 2024, and the current bullish market cycle. Jamie offers a comprehensive overview of Bitget’s impressive user growth, driven by innovative initiatives and a strong focus on inclusivity and user experience.

The conversation further explores Bitget’s strategic approach to catering to novice and experienced traders, unveiling upcoming features and developments poised to revolutionize the trading experience. Additionally, Jamie sheds light on Bitget’s commitment to transparency, security, and user education, ensuring a safe and informed trading environment amidst increasing regulatory scrutiny.

This interview promises valuable insights into the future of crypto trading and the strategic vision propelling Bitget’s growth and success.

Disclaimer: The following is a sponsored interview in partnership with Bitget.

What is your perspective on the current state of the crypto market, including the impact of the Bitcoin ETFs, the halving, and the ongoing bull market cycle?

The crypto market, especially Bitcoin, is experiencing a surge in optimism, driven by key developments such as the approval of Bitcoin Spot Exchange-Traded Funds (ETFs), the upcoming Bitcoin Halving in April 2024, and a bullish market cycle. The SEC’s approval of Bitcoin ETFs has attracted mainstream and institutional investors, boosting investment and market acceptance. Institutional involvement and the anticipated Bitcoin Halving, which historically leads to price increases due to reduced Bitcoin supply, are fueling market excitement.

Additionally, the rise in Bitcoin trading volumes and interest in decentralized finance (DeFi) and non-fungible tokens (NFTs) within the Bitcoin ecosystem are contributing to market liquidity and stability. However, despite a generally bullish outlook, investors are advised to exercise caution and consider broader economic and regulatory factors in their decisions.

Can you share insights into Bitget’s recent user growth and the initiatives that have contributed to this growth?

Bitget has experienced significant user growth due to a combination of improving user experience, introducing top-tier listings, and expanding its team to over 1,600 members during the bear market. Notably, Bitget’s derivatives trading volume surpassed market growth by 28%, with a 9.4% increase in spot trading volume, outperforming the market’s 2.6% growth. The platform has become a leader in copy trading, with copy traders generating over $15 million in profits from more than 2.2 million profitable trades. In January alone, Bitget attracted 4,400 elite traders and over 26,990 new followers.

Key to its growth has been initiatives like Blockchain4Her, dedicating $10 million to gender diversity and inclusivity in blockchain, Blockchain4Youth, investing $10 million to drive web3 adoption and strategic partnerships, such as the #MakeItCount 2024 campaign with Lionel Messi. Bitget’s commitment to social impact, alongside financial innovation, is evident in its efforts to bridge gender diversity gaps and in attracting banking sector professionals to the crypto industry. The addition of 52 new digital assets and leadership in copy trading further positions Bitget as a forward-looking platform, ready to serve a diverse and expanding global audience.

Bitget is known for enhancing the user experience. Could you elaborate on the consumer-centric features aimed at both novice and experienced traders, ensuring inclusivity?

Bitget has strategically positioned itself as a user-centric platform catering to both novice and experienced traders through a wide array of features designed to enhance the trading experience and ensure inclusivity. Here’s a detailed look at how Bitget achieves this through its consumer-centric features:

For Experienced Traders

  • Bitget API: Offers experienced traders the ability to trade faster and more flexibly by integrating various APIs such as Spot trading API, Futures trading API, and Copy trading API. This includes Market APIs, Trading APIs, P2P APIs, Spot Margin Trading APIs, and Market WebSockets for both spot and futures trading. These APIs are designed to meet the needs of institutional and professional users, providing specialized solutions based on user requirements.
  • Copy Trading: Bitget introduces Futures Copy Trading API and Spot Copy Trading API, catering to those who prefer a hands-off approach but with a professional touch. This feature is especially appealing for users who wish to leverage the expertise of successful traders.
  • Market Makers: Offers better funding rates, lower latency, higher trading limits, and direct contact with business development for tailored support.
  • Quantitative Trading: Provides free standardized API and SDKs in five programming languages, accompanied by 24/7 professional customer service, facilitating automated and algorithmic trading strategies.
  • Third-Party Platform Integration: Allows for sharing of Bitget’s liquidity, integration of Bitget’s copy trading services, and a non-disclosure broker model, enhancing the platform’s flexibility and reach.

For Novice Traders

  • Bot and Copy Trading: Recognized for its top-ranking global copy trading solution, Bitget enables novice traders to mimic the trades of successful traders, thereby reducing the learning curve and increasing the chances of success without the need for extensive market knowledge.
  • Learn2Earn: A program designed to promote continuous learning among both novice and experienced traders. This initiative rewards users for engaging with educational content about trading and the industry, fostering a culture of knowledge and skill development.
  • Bitget Wallet: A multi-chain ecosystem with aggregated DEX liquidity, ensuring that even those new to trading can manage their assets efficiently and securely across different blockchains.

Inclusive Features for All Users

  • Spot Trading: Offers immediate trading with current market prices, available for both novice and experienced traders.
  • Futures Trading with Liquidity: Provides the opportunity to trade on future prices of assets with enhanced liquidity.
  • Margin Trading with Leverage: Enables traders to borrow funds to increase their trading position, amplifying potential returns.
  • Convert Trading with Zero Fees: Allows users to convert cryptocurrencies without incurring transaction fees, making it accessible and cost-effective for all traders.

What are the key focus areas in Bitget’s roadmap for the next year, and are there any new developments or features that users can look forward to?

GetScribe for Bitget Wallet: This is an innovative feature that marks Bitget Wallet as the first to offer a full-stack omnichain inscription management. GetScribe supports over 19 blockchains, including major ones like Bitcoin, Ethereum, Polygon, and Avalanche. It facilitates single and batch inscriptions, features an integrated inscription market leaderboard for real-time ranking lists and price fluctuations, and provides market competition data.

An upcoming launchpad function for BRC-20 tokens will give users early access to high-potential tokens, enhancing the wallet’s utility and attractiveness to users interested in emerging tokens.

  • Bitget Spot P2P Market: Bitget has introduced a P2P Spot market, a pioneering move among top 10 crypto exchanges, initially featuring three tokens (ORCA, BTCS, and DIMO). This market allows users to trade unlisted tokens with demand and supply, expanding trading opportunities and enabling access to new and potentially valuable tokens before they are listed on major exchanges. This feature democratizes access to emerging tokens and can lead to early investment opportunities.
  • Smart Copy Mode for Futures Copy Trading: As the leading platform for crypto copy trading, Bitget has launched a new smart copy mode and introduced independent futures copy trading accounts. This development allows users to follow the investment strategies of Elite Traders with enhanced analysis and customize their investment amounts relative to their total assets, offering a more tailored and potentially more successful copy trading experience.
  • Upgraded Platform Wallet Addresses with MPC Security Technology: Bitget has upgraded user wallet addresses to incorporate Multi-Party Computation (MPC) technology, significantly enhancing security. This eliminates single points of failure and ensures transaction security without exposing private keys. The addition of Trusted Execution Environment (TEE) technology further strengthens hardware security, providing users with increased confidence in the safety of their digital assets on the platform.

The Bitget Token (BGB) has been a top performer. What factors have contributed to its success, and what role does it play in the Bitget ecosystem?

Bitget is committed to making cryptocurrency more accessible and integrating DeFi and CeFi on its platform. The BGB token, central to Bitget’s ecosystem, embodies a vision for a user-friendly and inclusive crypto space. BGB, serving as more than just a token, is key to a comprehensive Web3 ecosystem that supports cryptocurrency holdings, community tokens, NFTs, and decentralized apps.

Recently, BGB achieved a new all-time high (ATH) of $0.9, marking a 14.7% increase over the last 30 days and standing out as one of the best-performing CEX tokens.

Aimed at enhancing the trading experience, Bitget plans to delve deeper into copy trading and broaden the range of financial products and services offered. BGB holders benefit from exclusive privileges such as fee discounts, access to Launchpad and Launchpool services, and more, with plans to introduce additional features like a BGB lottery and zero withdrawal fees. Currently, 1.4 billion of the total 2 billion BGB tokens are in circulation, reflecting Bitget’s commitment to a risk-free, globally inclusive cryptocurrency ecosystem.

How does Bitget ensure transparent operations and prioritize safety for its users, especially in the context of increasing regulatory scrutiny?

Bitget ensures transparent operations and prioritizes user safety by maintaining a $422 million Protection Fund and implementing a Proof of Reserves system. The Protection Fund, comprised of 6,500 BTC and 137 million USDT, offers an extra security layer against cybersecurity threats. Additionally, Bitget guarantees 100% of users’ assets in reserves, verified monthly through cryptographic proofs and audits.

This Proof of Reserves process allows users to independently verify their assets, ensuring Bitget has sufficient reserves to cover all withdrawals. The platform’s commitment to transparency and integrity is further demonstrated by the publication of reserve ratios and the open-source proof of reserves code on GitHub. These measures provide a robust framework for protecting user assets and maintaining trust in the face of regulatory scrutiny.

As a popular exchange, how does Bitget’s infrastructure handle a vast influx of new users while ensuring stability and efficiency?

Bitget’s approach to handling the vast influx of new users while ensuring platform stability and efficiency is multifaceted, reflecting its commitment to providing a seamless trading experience for its users worldwide. With a workforce of over 1,600 employees spread across 60 countries and regions, Bitget leverages its global talent pool to maintain a robust and responsive infrastructure. This international team comprises professionals from various industries, bringing a wealth of knowledge and expertise to the platform.

In contrast to other exchanges that may reduce staff during bear markets, Bitget has strategically expanded its team during these periods. This expansion is not just about numbers; it’s about enhancing our capacity to address the needs of our growing user base effectively. The operations and support teams, available 24/7, are a crucial part of this strategy. They ensure that user queries are resolved promptly and any potential issues are addressed efficiently, contributing to the overall stability of the exchange.

This proactive approach to scaling its workforce reflects Bitget’s commitment to user satisfaction and platform reliability. By continuously growing and adapting to the needs of its users, Bitget ensures that it remains a stable and efficient platform for cryptocurrency trading, even as the number of users continues to rise.

In light of regulatory changes such as the ‘cooling-off’ rule, how is Bitget providing educational resources and market insights to help users navigate these developments?

In response to regulatory changes like the ‘cooling-off’ rule, Bitget is enhancing user education and providing market insights through several initiatives. Firstly, Bitget has adapted its platform to comply with the Financial Conduct Authority’s (FCA) new regulations by implementing the ‘cooling-off’ period, clear risk warnings, and creating a webpage tailored for UK users. This webpage restricts access to approved trading features and does not promote campaigns or offers to UK users, ensuring compliance with local regulations.

Moreover, Bitget collaborates with an FCA-approved third-party agency for all marketing approvals, ensuring that all promotional content meets regulatory standards. To further support its users, Bitget offers two key educational resources:

  • Bitget Research: This platform provides institutional-grade analysis of the cryptocurrency industry, offering insights and research to help users understand market trends and developments.
  • Bitget Academy: Aimed at empowering users from beginners to more advanced traders, Bitget Academy offers a wide range of educational materials, including in-depth guides, practical tips, and market updates. These resources are designed to help users navigate the complexities of the cryptocurrency market, improve their trading skills, and make informed decisions.

All these resources are free and easily accessible, demonstrating Bitget’s commitment to educating its users and helping them navigate the ever-evolving cryptocurrency landscape amidst regulatory changes.

Connect with Jamie Elkaleh

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CoinNews

Bitcoin Technical Analysis: BTC Price Oscillation Reflects Crossroads and Market Indecision

by CoinNews
written by CoinNews

Bitcoin Technical Analysis: BTC Price Oscillation Reflects Crossroads and Market IndecisionBitcoin’s value on Friday added another page to its unfolding story, registering just under $51,000, showing a modest decline from its 24-hour peak of $51,965 down to a trough of $50,877. Despite this dip, bitcoin’s 24-hour trading volume remains at $25.07 billion, highlighting the crypto asset’s persistent market vigor. Additionally, the leading digital currency’s market […]

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