{"id":15695,"date":"2021-12-27T17:16:55","date_gmt":"2021-12-27T16:16:55","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=15695"},"modified":"2021-12-27T17:17:05","modified_gmt":"2021-12-27T16:17:05","slug":"according-to-a-cryptoanalyst-bitcoin-may-be-poised-for-new-gains","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/according-to-a-cryptoanalyst-bitcoin-may-be-poised-for-new-gains\/","title":{"rendered":"According to a cryptoanalyst, Bitcoin may be poised for new gains"},"content":{"rendered":"\n
Since December 23<\/a>, this is the fourth day in a row that bitcoin has traded above $50,000, as $50K has become somewhat of a psychological support level.<\/h5>\n\n\n\n
\"According
According to a cryptoanalyst, Bitcoin may be poised for new gains<\/figcaption><\/figure>\n\n\n\n

BTC may be primed for new increases<\/h2>\n\n\n\n

BTC may be primed for new increases, according to cryptoanalyst Lark Davis\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, after breaking out of its recent downturn.<\/p>\n\n\n\n

After a brief slide to lows of $49,670 during the Christmas weekend, the largest cryptocurrency by market capitalization reclaimed the $51,000 level today. BTC was valued at $51,598 as of press time. Since December 23<\/a>, this is the fourth day in a row that the stock has traded above $50,000.<\/p>\n\n\n\n

Santiment<\/use><\/svg><\/span><\/a>, an on-chain analytics startup, summarizes the $50K support as follows:<\/p>\n\n\n\n

With Bitcoin back over $51k, the sentiment from traders has shifted back into positive range. As expected, $50k has become somewhat of a psychological support level, where traders become optimistic when above this threshold, & skeptical when below.<\/p><\/blockquote>\n\n\n\n

Investor hodling rate reaches 11-month high<\/h2>\n\n\n\n

The amount of “HODLed or Lost Coins” in Bitcoin has reached an 11-month high of 7.25 million BTC, according to on-chain analytics firm Glassnode<\/use><\/svg><\/span><\/a>.<\/p>\n\n\n\n

Lost or HODLed Bitcoins indicate the movement of huge and old stashes, implying a surge in out-of-circulation tokens\u2014those that may have been held in cold wallets by long-term holders or lost due to human mistake with a slim chance of recovery.<\/p>\n\n\n\n

An increase in this indication indicates that a year-long rise in the Bitcoin price, as well as hopes for more gains, may have prompted traders to keep their BTC tokens rather than trading them for other assets.<\/p>\n\n\n\n

The price of Bitcoin (BTC) is fluctuating<\/h2>\n\n\n\n

Bitcoin bulls and bears continue to battle for $52,000 in the absence of breaking news or dramatic tweets, with investors fearful of an overall uneven risk appetite. <\/p>\n\n\n\n

However, as the chances of a local decline reduce, the prospects of a BTC surge beyond now and into the new year remain good.<\/p>\n\n\n\n

The pull of buy-the-dip from its December low of $42,333 is bigger than anything else as investors wait with caution. <\/p>\n\n\n\n

After recovering off intraday lows of $50,480 earlier in the day, the BTC\/USD pair is presently higher. In the last 24 hours, the price of Bitcoin has grown by more than 3.5 percent, signaling that the surge may continue.<\/p>\n","protected":false},"excerpt":{"rendered":"

Since December 23, this is the fourth day in a row that bitcoin has traded above $50,000, as $50K has become somewhat of a psychological support level. BTC may be primed for new increases BTC may be primed for new increases, according to cryptoanalyst Lark Davis , after breaking out of its recent downturn. After […]<\/p>\n","protected":false},"author":29,"featured_media":15704,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[76],"tags":[5371,6217],"class_list":["post-15695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-price","tag-bitcoin-2","tag-btcusd"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/According-to-a-cryptoanalyst-Bitcoin-may-be-poised-for-new-gains.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=15695"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15695\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/15704"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=15695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=15695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=15695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}