Monat: Januar 2023

Bitcoin Unfazed by Genesis Bankruptcy, Ready for Another Bull Run

– Bitcoin has not reacted negatively to the news of Genesis, one of the largest crypto lenders, filing for bankruptcy.
– This suggests that the news of the Genesis bankruptcy was already priced into the price of the asset, and that it would take a true market-disrupting event to trigger another downtrend for BTC.
– This puts the cryptocurrency in a position for more upside rather than decline, meaning a fall below $20,000 could be farther away than the bears would like.

The news of Genesis, one of the largest crypto lenders in the world, filing for bankruptcy has not had a negative impact on Bitcoin’s price. This is unsurprising given that the crypto lender had been considering filing for bankruptcy for quite some time and has been exploring its options. Such news had been priced into the price of the asset, and it appears that the bias and fear that such news would carry has already been digested by participants in the space.

The lack of negative movement from Bitcoin in response to the news of Genesis‘ bankruptcy could cement the digital asset’s path to the upside in the coming weeks. This suggests that the current price level of Bitcoin appears to be a fair price, and that it would take a true market-disrupting event to trigger another downtrend for BTC. With this news, a fall below $20,000 becomes even more unlikely, putting the cryptocurrency in a position for more upside rather than decline.

The resilience of Bitcoin in the face of negative news can be seen as a sign of its strength and may indicate that the digital asset is ready for a new leg up in the near future. This is evidenced by the lack of fear and panic in the market, despite the dreaded news of a Genesis bankruptcy finally becoming a reality. With this in mind, traders and investors should be prepared for the possibility of Bitcoin continuing its current bull run and making higher highs in the near future.

The news of Genesis‘ bankruptcy may have been an opportunity for bears to push the price of Bitcoin lower, but it appears that the digital asset is unfazed and is still on track to reach new heights in the coming weeks. This could be a sign that the crypto market is maturing and that Bitcoin is becoming increasingly resilient to major market events. If this is the case, it could be a sign of good things to come for the digital asset and its investors.

Crypto Stocks Surge: Top 5 Bitcoin Mining Companies See 10% Gains

• Top five leading Bitcoin mining companies have seen their stocks surge in value, recording solid gains in recent weeks.
• Riot Blockchain, Hive, Marathon Digital, Hut8, and Bitfarms have all gained at least 10% in value this week.
• Despite some negative news spreading in the industry, major assets in the crypto industry have been in the green for the past weeks.

Recently, the crypto market has seen a significant rally, and the stocks of the top five leading Bitcoin mining companies have been in the green since the beginning of this week. Investors have been watching the markets closely to see if this is indeed the long-awaited bull run. As the market continues to surge, major crypto stocks have seen impressive gains in the last few weeks.

Riot Blockchain (RIOT) has seen the biggest gains of up to 43% this week, with a closing price of $6.13 in after-hours trading on Thursday. Hive Blockchain Technologies has also seen a significant spike of 37.6% in the last 24 hours and a total gain of 76% since the beginning of the week. Marathon Digital (MARA) has recorded a 30.9% increase in value and is up by 65% since the start of the week. Hut8 and Bitfarms have both seen gains of at least 10% this week.

Though some negative news has been circulating in the crypto industry, major crypto assets have continued to remain in the green for the past weeks. This is a positive indicator for the industry and suggests that investors may be expecting a sustained long-term rally. The coming weeks will be crucial in determining if this is indeed the much-anticipated bull run.

Cardano (ADA) Recovers One-Third of Lost Value, Whale Accumulation Increases

• The crypto market saw a decline, resulting in Cardano (ADA) hitting a two-year low of $0.24.
• ADA has since recovered about one-third of its lost value, now trading around $0.2687.
• Cardano is witnessing increased whale accumulation of its native token, ADA.

The crypto market has gone through a turbulent period over the past few months. Following the overall decline, Cardano (ADA) recorded a two-year low. The coin fell to $0.24 through a four-week bearish impact. ADA lost over 25% of its value through its fall in December 2022.

Volatility is one of the major attributes of the crypto industry. At times, the price action of crypto assets is the main attractive aspect for traders and Investors as they can reap massive rewards when there is high volatility.

Fortunately, Cardano’s token is gradually staging a rebound this January. ADA has impressively reclaimed about a third of its lost value at the beginning of this year. At the time of writing, ADA is trading around $0.2687, indicating an increase over the past 24 hours. ADA price is spiking after a significant plunge the previous year.

Currently, ADA boasts a market cap of about $9.123 billion and a market dominance of about 1.11%. As per CoinMarketcap ranking, ADA is now rated in the 9th position of top crypto assets in capitalization. If ADA continues to stay in recovery mode and jumps above the $0.30 mark, it might replace Dogecoin taking the eighth top spot by market capitalization. Investors that bought ADA at the support level of $0.24 are minting profits, adding more pressure on the resistance at $0.27.

Cardano is also witnessing more whale accumulation of its native token, ADA. Data from WhaleStats shows that huge holders of BNB tokens are now massively purchasing ADA. This, in turn, is helping the coin to stay in the recovery mode and reach higher levels.

In spite of this, the crypto market is still quite unpredictable. Although Cardano has successfully recovered some of its lost value, it is important for investors to be cautious and not get carried away by the short-term surge. It is always advisable to diversify portfolios and not invest more than one can afford to lose.

Identify Tops and Bottoms in Bitcoin Markets with the MVRV MACD Oscillator

• The Bitcoin MVRV MACD oscillator is an indicator that measures the ratio between the market cap and the realized cap.
• When the MVRV is greater than 1, it means BTC is overpriced right now, while having values below the threshold suggests it’s underpriced.
• The MACD oscillator of the indicator is the difference between the short-term and long-term exponential moving averages (EMA) of the metric in question.

Bitcoin MVRV MACD oscillator is a powerful tool used by crypto traders and analysts to identify the tops and bottoms of a market. It measures the ratio between the market cap and the realized cap, which is a capitalization model for Bitcoin that values each coin in circulation at the price at which it was last moved. This is different from the normal market cap which takes the same current Bitcoin price as the value of all the coins.

When the MVRV is greater than 1, it indicates that Bitcoin is overpriced at the moment. Values below the threshold suggest that it is undervalued. To use MVRV as a trading tool, the MACD oscillator of the indicator is used. This is the difference between the short-term and long-term exponential moving averages (EMA) of the metric. The EMAs used for this purpose are the 50-day and the 100-day versions.

By plotting the Bitcoin MVRV MACD oscillator, traders can detect both the highs and the lows in the price, as well as the greater trends. This can be seen in the chart below, where the metric seems to have approached a value of 0 recently. Therefore, it is a great tool to have while trading Bitcoin, as it helps to identify potential entry and exit points.

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