One explanation is that many new and inexperienced traders have joined the market. On-chain analytics firm Glassnode’s founders Jan Happel and Jann Allemann had another: “There is excess greed in the system, with 60% of contracts levered 20x or more."
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Markets Report: Bitcoin dives to $18,100 as $20,000 sparks huge volatility
Unpredictable trading conditions ensue thanks to selling pressure near $20,000, but futures come with $400 of all-time highs
Bitcoin saw a unique day on December 1 as volatility took the market up and down by $1,000 or more. Data from price trackers including CoinMarketCap and TradingView showed BTC/USD fluctuating wildly as it approached the historic $20,000.
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A $1 trillion bitcoin market cap means BTC will hit $47,000, if Bloomberg Intelligence Mike McGLone is right (Photo: Twitter)Bitcoin $47K if 2017 high is breached, Bloomberg Intelligence analyst says
Mike McGlone says BTC ‘has a history of adding zeros,’ and the current all-time high of $20,089 is the main thing standing in the way of a trillion-dollar market cap
A senior commodity strategist at Bloomberg Intelligence says a $1 trillion market cap for Bitcoin is in sight. The only thing standing in the way? Surpassing the current all-time high of $20,089.
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Markets report: Bitcoin hits $16K after 3 years but ‘extreme greed’ abounds
Bitcoin returns to highs not seen since its path to $20,000 but heavy resistance makes its presence felt
Bitcoin saw fresh volatility on November 12 as $16,000 came back into play but bulls saw familiar trouble with support. Data from price trackers including CoinMarketCap showed BTC/USD rising to pass $16,000 for the first time since 2017 on Thursday. The moment had been long coming, but highs of $16,180 swiftly met major resistance.
