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Btcusdlong

Bitcoin targets 70K! - #BTC AnalysisBitcoin and risk assets have been looking great lately. I believe the upward momentum will continue in the upcoming weeks. The golden bull run is coming for crypto, in my opinion. Current state: I believe we tested diagonal resistance and were rejected there (possibly taking profits from those who bought at the bottom). I would expect a retracement to the 'Long Zone' marked on the chart. The retracement may potentially take a bit longer and might create a range for a couple of days. However, after the retracement, I do expect to see 70K being smashed rapidly.
Long
by UA_CAPITAL
Bitcoin's Extreme Futures: $15 or $ 50,000,000?!!Hello Traders, I'm excited to share a unique analysis of Bitcoin, the leading force in the crypto market. This analysis delves into the long-term trends on a weekly chart, viewed on a logarithmic scale. When I began studying the curvature of Bitcoin's price movement, I observed what appears to be a quarter-circle or elliptical pattern forming over the years. This curved channel, which I've approximated using the Fibonacci circles tool, suggests that we're nearing a critical turning point. Why do I think this way? The key lies in the slope of the chords within this curve. As the slope decreases—from 66 degrees down to 34, 21, 12, and finally 2 degrees—it indicates that we are at the top or the peak of this quarter-circle. The 2-degree slope, which is minimal, suggests that we are at a crucial point where the curvature, spanning 15 years, might lead to a significant shift in Bitcoin's trajectory. Given the significance of this curvature and the time it represents, we're faced with two possible scenarios: Scenario 1 (Bearish): If we apply a mirror to the quarter-circle, Bitcoin could correct by 50% on a logarithmic scale, potentially plummeting to as low as $15. This drastic scenario might be triggered by extreme global events, such as a major energy crisis or even a world war. Scenario 2 (Bullish): On the other hand, if we mirror and flip the quarter-circle to form a full wave, Bitcoin could soar to unprecedented heights, potentially reaching $50 million. Such a surge might be driven by a civil war in the United States, a global currency war, or other major upheavals in the financial system. In conclusion, the current time and date are pivotal as they could significantly influence Bitcoin's future trajectory. This analysis is hypothetical and intended to stimulate discussion and exploration of possible outcomes based on the algorithmic scale. Whether Bitcoin is heading towards a substantial correction or an extraordinary rise, this phase could potentially redefine the limits of what we currently envision in the cryptocurrency world. CRYPTO:BTCUSD
CRYPTO:BTCUSD
by Eymen-GUVEN
1
Bitcoin Hashrate Emerges as Valuable Asset in Financial MarketsThe financialization of Bitcoin hashrate is rapidly emerging as a unique investment opportunity. Bitcoin's economic structure, especially the halving events every four years, pressures miners to optimize costs, driving them towards two primary energy strategies: grid-tied and co-location with power generators. Grid-tied miners benefit from economies of scale and participate in demand response services, while co-located miners target renewable energy sources, exploiting mismatches in energy demand and supply, according to Coindesk. As Bitcoin mining continues to evolve, hashrate is being recognized as a distinct commodity with features like fungibility and divisibility, making it an attractive asset class. Investors can now engage in mining without owning hardware, using derivatives to hedge against price fluctuations. The profitability of mining is determined by the difference between hash price (market value of mining power) and hash cost (expenses related to mining). A profitable operation requires the hash price to exceed hash cost, with competition and energy costs influencing this dynamic. The market has also seen the introduction of hashrate-linked financial products, providing more data points to predict network events' impact on blockspace demand and transaction fees. For instance, during periods of high blockspace demand, miners can lock in future revenue by selling hash price futures. As Bitcoin's ecosystem continues to grow, the role of hashrate as a tradable asset is expected to gain further significance, attracting more attention from capital markets.
BINANCE:BTCUSDLong
by ShumbaFx07