Wednesday, June 7, 2023
  • Home
  • Crypto
  • DEFI
  • NFT
  • Press Release
  • Contact Us
No Result
View All Result
No Result
View All Result
Home News

Bullish Sentiments For Bitcoin Reach Fever Pitch Despite $10k Slide ⋆ ZyCrypto

Betty Snyder by Betty Snyder
June 4, 2020
in News
0
Fear, Greed, and Uncertainty: Here are Some Major Sentiments Driving Cryptocurrency Prices Right Now
588
SHARES
3.3k
VIEWS

Advertisement
&nbsp

&nbsp
Bitcoin recently hit the $10,000 critical price level and revived hopes of seeing a higher price. The rally was rather short-lived though as the asset lost -$600 in just 5 minutes on the same day. According to Okex, retail traders took the brunt of it as most bought in during the FOMO just before the crash. $347 million positions were also liquidated across derivatives exchanges in one hour.

However, data from Skew shows that the bullish sentiments among traders are still intact despite the unanticipated crash. Analysis from Okex on the data reads:

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

“The good thing right now is that all futures are showing positive premiums over spot prices across the market — which indicates market participants are still bullish.”

Bitcoin has reached $10,000 for the third time in 2020, the first time was just before the crash on the 12th of March which remains significant for the year. It also hit this price level just before the halving but it doesn’t seem to hold as the price always crashes back down. This is considered to be a major level that must be breached before any significant price move can be seen.

Source: Coin360In a recent tweet, BitMEX CEO Arthur Hayes said no sustained price move will be seen until Bitcoin crosses $15,000. That sounds like a long way to go as pundits have only prognosticated that Bitcoin will reach up to $13,000 by the end of the year. This means it will take some time before the asset takes out Hayes’ $15,000 to even approach 2017’s all-time high. It may however not be out of place as it takes about a year for the halving to show any significant effect on price according to history.

The asset is on the path to recovery again after crossing $9,600 as the market turns green again. Of course, Ethereum is not left out but Cardano is currently leading the top ten assets having gained 10.09% in the last 24 hours. Will the rally be sustained this time or will it be ‘game’ as usual?

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

$10k Proves Tough For Bitcoin Bulls, What’s Next For BTC? ⋆ ZyCrypto

Next Post

3 Reasons Why Analysts Are Bullish on Bitcoin

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
3 Reasons Why Analysts Are Bullish on Bitcoin

3 Reasons Why Analysts Are Bullish on Bitcoin

  • 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: admin@cryptoate.com

Recent Posts

  • Securing Blockchain Technology-DeFi: Challenges & Solutions
  • DEGA Revolutionizes Fundraising with their Gamified Multichain Initial Stakepool Offering
  • Understanding Smart Contracts: The Foundation of DeFi Lending
  • Discover Staking Risks and Considerations
  • Bug Bounty Program Governance and Policy Frameworks

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.