Despite the weak price dynamics in June, BTC was withdrawn from exchanges at the most impressive rate ever. 

Continue reading “BTCUSD exchange rate forecast for July 11 — 17”

Long-Term-Holder Spent Output Profit Ratio (LTH-SOPR) is entering the “in profit” zone, where the value is less than 1, suggesting that more coins are being sold by LTH. As you can see on the chart, BTC can stick in this zone anywhere from 6 to 12 months before it goes into an uptrend, followed by the hike of the BTC price. It is historically between 0.5 and 0.6 indicating a bottom, and though we have not yet reached it, we are getting very close to it. 

Continue reading “BTCUSD exchange rate forecast for July 4 — 10”

BTC suffered one of the harshest deviations below the 200-day trend in history. At the moment, the Meyer ratio is 0.478, which means that the BTC price is trading at 52.2% compared to the 200-day moving average.

Continue reading “BTCUSD exchange rate forecast for June 27 – July 03”

Cryptocurrencies were exposed to the liquidity crisis which is typical of the crypto space, it led to a drastic fall in the price of crypto even before the Fed’s rate hike on Wednesday. Once again, it was caused by the liquidation of large positions owned by Three Arrows Capital, a notorious crypto hedge fund, resulting in the outbreak of contagion across several DeFi platforms. Things were looking bad last Monday, even before the U.S. markets started trading. 

Continue reading “BTCUSD exchange rate forecast for June 20 — 26”

Bitcoin entered an oversold zone, where the hash rate begins to go offline, as expected – the low BTC price compared to mining costs will compel miners to suspend bitcoin mining until its price regains its footing.

Continue reading “BTCUSD exchange rate forecast for June 13 — 19”

Over the last week, the flow of miners entering exchanges was at its peak since January, which is a sign that they are seeking to sell the mined BTC. The drop in the price of bitcoin is putting a strain on the profitability of BTC miners, forcing many of them to trade their BTCs as soon as they are mined to cover transaction costs.

Continue reading “BTCUSD exchange rate forecast for June 6 — 12”

Crypto whales, who own more than $1 million worth of BTC, have been selling their bitcoin holdings since May 5, causing BTC prices to plummet from $40,000 to $30,000. The good news is that last week, apparently, asset sales started to decline. It means that the sales pressure from these whales is coming to an end.

Continue reading “BTCUSD exchange rate forecast for May 30 — June 5”

Last week, delegates from 44 countries met at a 3-day conference on financial inclusion at Bitcoin Beach in El Salvador to discuss the first-ever crypto. Ostensibly, it turned out that BTC was well received by the people present, including representatives from Paraguay, Ghana, and Egypt. The LUNA collapse didn’t excite all investors, some saw the drop as an opportunity to restock. Among them were crypto-funds.

Continue reading “BTCUSD exchange rate forecast for May 23 — 29, 2022”

Over the past week the crypto market was not very auspicious. The BTC price hit a low of $25,500 after Wednesday’s release of better-than-expected data regarding the U.S. consumer price index. Nevertheless, the value of the first-ever crypto began to regain momentum and now Bitcoin is worth $29,645. In our traditional forecast, we will figure out what to anticipate in the coming week.

Continue reading “BTCUSD exchange rate forecast for May 16 — 22”

Over the past week the crypto market was not very auspicious. Amid the collapse of shares of tech companies there was expected a weakening of the cryptocurrency market. Nevertheless, with the fall of shares of tech businesses, BTC managed to hold on at around $37,000. Let’s check out in our traditional BTCUSD exchange rate forecast what awaits us in the forthcoming week.

Continue reading “BTCUSD exchange rate forecast for May 2 — 8, 2022”