Thursday, June 1, 2023
  • Home
  • Crypto
  • DEFI
  • NFT
  • Press Release
  • Contact Us
No Result
View All Result
No Result
View All Result
Home News

Amid Heightened Market Volatility, This Metric Shows Bitcoin Is Still Extremely Bullish ⋆ ZyCrypto

Betty Snyder by Betty Snyder
June 13, 2020
in News
0
As Bitcoin Price Grapples With $9K, A Bullish Pattern Suggests Next Jump Will See It Through To $10.5K
587
SHARES
3.3k
VIEWS

Advertisement
&nbsp

&nbsp
Bitcoin continues trading sideways after seeing a wild volatile move yesterday that saw it plunge below $9,300 before going up to $9,429 in less than 5 hours. Ignoring the few volatile moves, Bitcoin is clearly still flat with its trading volume declining every day.

Bulls are still looking to break the $10,000 resistance level and bears are hoping to at least break the daily 12-EMA which Bitcoin has held for the past week and a half. The overall picture for Bitcoin is still bullish but there is a lot of uncertainty right now and it’s unclear the direction that Bitcoin will choose.

You might also like

Prime Minister of Vietnam visits Genetica: Propelling Vietnam to the forefront of Asia’s Biotech Industry

FUNToken Announces a New pair on Binance – FUN

Meta Cricket League” – World’s First NFT Cricket Game All Set to Release Its Maiden NFT Collection

There are plenty of fundamental metrics that indicate Bitcoin has a lot of potential in the long-term. Unfortunately, fundamentals do not affect the price of an asset in the short-term, which means we could see Bitcoin trading sideways for many more weeks or perhaps even months. 

The Supply Growth Of Bitcoin Almost Flat in Comparison to the US Dollar

Avid cryptocurrency users already know that Bitcoin’s supply is limited. Roughly, every 4 years, the block reward of Bitcoin is cut in half which means that fewer Bitcoins are created. The current supply of Bitcoin is around 18,399,218 and its maximum supply will be 21 million, no matter what.

A recent chart by Robert Breedlove shows the growth rate of Bitcoin compared to the US dollar. Fiat currencies do not have any limit and governments can literally print money out of thin air. There is no limit to how many US dollars the government can create which means that inflation is a high risk. 

Bitcoin is not only capped at 21 million but also many of the existing Bitcoins are most likely already lost forever in wallets that no one can access. Bitcoin and most cryptocurrencies are deflationary by default and the supply rate of Bitcoin will only keep slowing down.

It seems that most fundamental metrics and indicators are in favor of Bitcoin. There is a very real possibility of seeing Bitcoin hit $20,000 again and most likely reaching a new all-time high at the end of the year. 

Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram
DISCLAIMER Read MoreThe views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Previous Post

New research debunks claims of Grayscale buying over 30,000 Bitcoin since halving ⋆ ZyCrypto

Next Post

Protests Rage In Lebanon Over Currency Collapse; Trust Gov’t, or Buy Bitcoin? ⋆ ZyCrypto

Betty Snyder

Betty Snyder

I’m a cryptocurrency and blockchain technology writer. My work has been featured in major publications such as CoinDesk, Bitcoin Magazine, and VentureBeat. I’ve been a respected voice in the cryptocurrency community and my insights into the industry have helped shape its development.

Related Posts

Prime Minister of Vietnam visits Genetica: Propelling Vietnam to the forefront of Asia’s Biotech Industry
News

Prime Minister of Vietnam visits Genetica: Propelling Vietnam to the forefront of Asia’s Biotech Industry

by Alverta O'Conner
March 14, 2023
FUNToken Announces a New pair on Binance – FUN
News

FUNToken Announces a New pair on Binance – FUN

by Alverta O'Conner
April 22, 2022
Meta Cricket League” – World’s First NFT Cricket Game All Set to Release Its Maiden NFT Collection
News

Meta Cricket League” – World’s First NFT Cricket Game All Set to Release Its Maiden NFT Collection

by Alverta O'Conner
April 21, 2022
Blockchain game StarMon announced important news on “NFT SEOUL 2022” in Korea. A new gameplay model will be launched
News

Blockchain game StarMon announced important news on “NFT SEOUL 2022” in Korea. A new gameplay model will be launched

by Alverta O'Conner
January 21, 2022
Blockchain

Metathon is calling for amazing DEVs and Degens!

by Betty Snyder
December 3, 2021
Next Post
Bitcoin Could Benefit From Lebanon As Protesters Vandalize Banks Over The Country’s Currency Crisis

Protests Rage In Lebanon Over Currency Collapse; Trust Gov't, or Buy Bitcoin? ⋆ ZyCrypto

  • Why must you pick a white label crypto exchange solution than developing a new one?
  • Bitcoin Product Demos During the Halving – Bitcoin Magazine
  • Whitelabel Cryptocurrency Exchange platform and it’s 4 salient features!
  • Despite Chaos, The Next BTC Price Rally Could Be Spurred By This Little-Known Bitcoin Indicator
    Crypto Pundit reveals what will likely ignite another parabolic Bitcoin Rally ⋆ ZyCrypto
  • Which is Best Crypto Trading Bot Platform?
  • CoinSwap Space first DEX to provide crypto purchases directly onto any non-custodial wallet via Ramp Network

    CoinSwap Space first DEX to provide crypto purchases directly onto any non-custodial wallet via Ramp Network

    3772 shares
    Share 1509 Tweet 943
  • Altseason Pushed Further Back As Top Altcoins Fall Under Bitcoin’s Spell ⋆ ZyCrypto

    3738 shares
    Share 1495 Tweet 935
  • Filecoin and Polygon Deploy Interoperable Bridge To Expedite Web 3 Development

    3545 shares
    Share 1418 Tweet 886
  • The Cost Of Transacting With Bitcoin Has Dropped By Almost 90% Within A Month ⋆ ZyCrypto

    3320 shares
    Share 1328 Tweet 830
  • CoinSwap Opens Up New DeFi Opportunities With Their Certik Approved DEX

    3032 shares
    Share 1213 Tweet 758

About

Cryptoate site is a comprehensive resource for everything related to cryptocurrency and blockchain. We aim to be a one-stop solution for all your crypto and blockchain news and events.

Email: [email protected]

Recent Posts

  • Understanding Smart Contracts: The Foundation of DeFi Lending
  • Discover Staking Risks and Considerations
  • Bug Bounty Program Governance and Policy Frameworks
  • Symbiosis Adds Arbitrum Nova to Expand DeFi Connectivity
  • How Blockchain Can Revolutionize Game Monetization Models

Catagories

  • Mining
  • Crypto
  • Press Release
  • Price Analysis
  • Cryptocurrency
  • Trading
  • Cryptocurrencies
  • Blockchain

Calender

June 2023
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« May    
  • About Us
  • Contact Us

Associated with Blockchain Press Media Network.

No Result
View All Result
  • Home
  • Crypto
  • DEFI
  • NFT
  • Press Release
  • Contact Us

Associated with Blockchain Press Media Network.