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Conversion Value. ET by Mike Murphy. A bitcoin winter ahead? ET by Mark DeCambre.
Bitcoin Price Chart (BTC/USD)
ET by Elisabeth Buchwald. A record number of homes are selling above their asking price and whether life insurance for children is a good investment for them Mar. ET by Andrew Keshner. A bitcoin revolution is underway and MarketWatch is gathering a cast of crypto experts to explain what it all means. Sign up! CleanSpark stock rises after buying nearly 4, bitcoin mining rigs, nearly 50 mobile data centers Mar. ET by Tomi Kilgore. Why It Could Succeed. ET by Barron's. ET by Callum Keown. Meanwhile, Bitcoin has been qualified as a financial instrument in Germany.
Portugal, on the other hand, is well-known as possibly the most crypto-friendly nation in Europe , and does not impose any taxes on crypto gains.
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Bitcoin has already been working for more than ten years, while being itself just the latest in a series of projects that tried to achieve the aim of a censorship-resistant and digital money and store of value. The year will be one to remember due to the devastating effects on humanity and the economy as a result of COVID and government policies, but crypto just had an amazing year.
We had the DeFi summer and the long-awaited institutional buying of Bitcoin, as well as the launch of the ETH2 beacon chain and many other big events. However, I still like to follow several models and indicators as I feel they give me a better sense of the current scenario. This model treats Bitcoin as being comparable to commodities such as gold, silver or platinum.
It is difficult to significantly increase their supply i. Bitcoin is similar because it is also scarce. In fact, it is the first-ever scarce digital object to exist. There are a limited number of coins in existence and it will take a lot of electricity and computing effort to mine the 3 million outstanding coins still to be mined, therefore the supply rate is consistently low. Stock-to-flow ratios are used to evaluate the current stock of a commodity total amount currently available against the flow of new production amount mined that specific year.
For store of value SoV commodities like gold, platinum, or silver, a high ratio indicates that they are mostly not consumed in industrial applications. Instead, the majority is stored as a monetary hedge, thus driving up the stock-to-flow ratio.
BTCUSD - Bitcoin - USD Cryptocurrency Barchart Opinion -
A higher ratio indicates that the commodity is increasingly scarce — and therefore more valuable as a store of value. A more detailed version of the chart and explanation of what everything means can be found here. Profit and Loss metrics answer the question: if all units of a given currency were sold today, how much would investors stand to gain or lose? By looking at the delta between the price when a UTXO was created vs. When looking at this across the entire network, we can see how much of the network is in profit, and how much is in loss.
Any value above zero indicates that the network is in a state of net profit, while values below zero indicate a state of net loss. In general, the further NUPL deviates from zero, the closer the market trends towards tops and bottoms. As such, NUPL can help investors identify when to take profit blue and when to re-enter red.
The color bands follow a logarithmic regression introduced by Bitcointalk User trolololo in , but are otherwise completely arbitrary and without any scientific basis. Back in March , I had written about it being a fantastic time to stockpile on Bitcoin. To zoom in on the chart then:.
5 Ways to Short Bitcoin
However, there still seems to be some room for growth. Early on the morning of January 1st, the Bitcoin-gold rate peaked at The HODL Waves is a data visualization that displays colored bands representing the percentage of total bitcoin and the length of time that bitcoin has been sitting in a given address. This visualization is made possible because the bitcoin blockchain is completely public. You can read the original article that describes them here. By comparing the age of bitcoin sitting in addresses to the current US dollar prices, we can make some interesting conjectures about the bitcoin economy and the sentiment of HODLers.
While the price crash in March was sharp, we can see that the coins shifting hands during that time were coins that had previously moved within the last 6 months, indicating that the crash may have been caused by leveraged traders getting liquidated. Long-term holders were unaffected by the movement, meaning that coins that had been sitting in addresses for longer than 6 months became a higher percentage of the total bitcoin sitting in addresses.
This helps explain the rapid 2 month recovery back to the previous prices. On-chain data provided by Coin Metrics also shows that recent price movements were likely mostly driven by shorter-term and relatively new holders. Long term holders appear unfazed in spite of the severe market downturn. While market cap for most cryptoassets fell, the market cap for most stablecoins increased.
As of January , we can see that The relative strength index RSI is a momentum indicator used in technical analysis that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator a line graph that moves between two extremes and can have a reading from 0 to The indicator was originally developed by J.
Welles Wilder Jr. Traditional interpretation and usage of the RSI are that values of 70 or above indicate that a security is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. An RSI reading of 30 or below indicates an oversold or undervalued condition.
Morgan, whose CEO Jamie Dimon called bitcoin a fraud just three years ago, published an in-depth feature in its flagship research series comparing bitcoin to gold, and saying its price could double or triple if current trends continue. Earlier this year, J. Morgan also agreed to provide banking services to crypto pioneer Coinbase , and has been getting involved in additional ways. Billionaire U. However, he predicts bitcoin will outperform gold in the long run — largely due to millennial and Silicon Valley attraction to the crypto scene. Drunkenmiller made headlines last week for his bearish views on the U.
Mutual fund titan Bill Miller has also taken a fancy to bitcoin. The interesting thing about what happened in the Q4 Bitcoin price run-up, is that most retail investors were sitting by the sidelines. There were relatively few new investors joining in the fun. The big reason, in my opinion, is that most people were acting extra cautious during as the reality is that a lot of jobs and businesses were and are still threatened. Historically, retail floods into Bitcoin after breaking previous all-time-highs.