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The low profitability of BTC mining is still puzzling for many crypto fanatics and investors. There’s no surprise here, given the ever-increasing energy costs. Moreover, the bear market is also significantly impacting Bitcoin’s mining difficulty. As for now, making reasonable profits from mining Bitcoin is not probable. This fact, however, doesn’t
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A Bitcoin on-chain metric still hasn’t formed the same condition as in the previous bottom, suggesting that the current low may not be in yet. Stablecoin Exchange Inflows (Top 10) Hasn’t Shown Any Spikes Recently As pointed out by an analyst in a CryptoQuant post, the top 10 stablecoin exchange inflows saw
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On-chain data shows Bitcoin holders have done some rapid fresh accumulation recently, something that may lead to bottom formation for the cycle. Bitcoin 1w-1m Realized Cap UTXO Age Bands Have Sharply Gone Up As pointed out by an analyst in a CryptoQuant post, the percentage of the BTC realized cap that was
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Calling the bottom in Bitcoin is no easy task. Prices tend to fall more dramatically and faster than anyone is prepared for and is the investing equivalent of catching a falling knife. Yet if anyone is equipped to accurately call the bottom in crypto, it would be Charles Edwards, fund manager
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Bitcoin's price needs to trade above its 21-week moving average to confirm a bottom, one trader said. Original Source
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Ether (ETH) rallied 5.5% in the early hours of Nov. 29, reclaiming the critical $1,200 support. However, when analyzing a broader time frame, the 24% negative performance in the past 30 days significantly impacts investors' sentiment. Moreover, investors’ mood worsened after BlockFi filed for bankruptcy on Nov. 28.Newsflow remained negative
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Bitcoin (BTC) bears have been in control since Nov. 11, subduing BTC price below $17,000 on every 12-hour candle. On Nov. 28, a drop to $16,000 shattered bulls' hope that the 7% gains between Nov. 21 and Nov. 24 were enough to mark a cycle low at $15,500.The most likely
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Bitcoin (BTC) still risks a drop to below $7,000 in this bear market, the latest worst-case scenario prediction warns.In its latest livestream broadcasted on Nov. 24, trading platform DecenTrader revealed targets for a BTC price bottom.Analyst flags “oldschool, rock-hard support” for BitcThe most recent in a series of BTC/USD forecasts,
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The downfall of FTX has also left its mark on the Ethereum (ETH) price. Over the last 30 days, Ether has recorded a drop of around 20%. At press time, the price was at $1,171, just above the crucial support level of $1,100. In the short term, the ETH price has found
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Bitcoin (BTC) hodlers may need to triple their on-chain losses for BTC price to put in a macro low.According to market research firm Baro Virtual, the 2022 bear market is not yet harsh enough to match historical downtrends.Bitcoin losses “only” total $671 millionWith analysts predicting a return to $14,000 or
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