• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

    2023-09-28

    Valentino Rossi Steps into The Sandbox with ValeVerse

    2023-09-27

    Opportunities for Artists and Creators at Decentraland Music Festival 2023

    2023-09-26

    Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

    2023-09-25

    Upland and KABOOM! Unite to Address Playspace Inequity

    2023-09-22
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Ripple files motion to block SEC appeal attempt

    2023-09-04

    JP Morgan believes SEC will be forced to approve ETFs after losing case against Grayscale

    2023-09-03

    Ripple Files Motion To Oppose SEC Appeal Over Landmark XRP Ruling

    2023-09-03

    U.S. SEC Punts on Bitcoin (BTC) Spot Exchange-Traded Fund Approvals, Delays Decisions Until October

    2023-09-02

    Navigating the significance of legal opinions in the crypto sphere

    2023-09-02
  • Learn

    What Is Toncoin (TON)? Everything You Need To Know

    2023-09-28

    What is NBA Top Shot? A Beginner’s Guide

    2023-09-22

    What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-21

    SingularityNET (AGIX) Price Prediction 2023 2024 2025

    2023-09-18

    What Are Altcoins? Best Altcoins to Buy  – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-08
  • Market Cap
CryptoNewsMetaverse
Home»Bitcoin»Bitcoin Shoots Past $18,000 In A Ninth-Successive Winning Streak
Bitcoin

Bitcoin Shoots Past $18,000 In A Ninth-Successive Winning Streak

2023-01-12No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The world’s largest cryptocurrency Bitcoin (BTC) made a strong move on Wednesday amid the broader market rally. At press time, BTC is trading 4.55% up at a price of $18,224 and a market cap of $350 billion.

This is the ninth-successive day of gains for Bitcoin registering its largest winning streak since 2020. It’s been a great start to the year 2023 with the BTC price up by more than 10$ in the first 12 days.

The recent momentum in the crypto space has been supported by optimism on Wall Street. Analysts are betting that the inflation will cool down and the Fed will slow down the rate of interest-rate hikes has built positive investor sentiment for risk-ON assets.

This is certainly a fresh start for Bitcoin and the rest of crypto after undergoing brutal corrections in 2022. Speaking to Bloomberg, Michael Purves, founder of Tallbacken Capital Advisors said:

“Risk assets have been rallying, I think, for the reason that the terminal rate is coming slowly but surely into the foreground and positioning has been bearish and transitioning, which means bullish near-term price action”.

The regulatory issues surrounding the crypto market still continue to be an overhang and institutions are likely to wait further until the market clears up. Noelle Acheson, author of the “Crypto Is Macro Now” newsletter said: “There is little doubt that large players will come back into the market when the outlook is less murky, pushing up transactions and also price”.

Will Bitcoin Climb to $20,000?

Amid the recent rally in the BTC price, market optimists believe that it will go to touch the $20,000 level once. However, on-chain data suggests that traders are seizing the profit opportunities here. Thus, it could be followed by a correction in the future. On-chain data provider Santiment reported:

The small profit opportunities for $BTC have been seized by traders, & yesterday was the 2nd largest profit vs. loss ratio of the past year. The top profit take spike resulted in a -18% the following month.

Courtesy: Santiment

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



Source link

Bitcoin NinthSuccessive Shoots Streak Winning
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

U.S. SEC Punts on Bitcoin (BTC) Spot Exchange-Traded Fund Approvals, Delays Decisions Until October

2023-09-02

Ex-SEC chair Jay Clayton says approval for a spot Bitcoin ETF is ‘inevitable’

2023-09-01

Approval of a Spot Bitcoin ETF in the US Is Inevitable, Says Former SEC Chair Jay Clayton

2023-09-01

Grayscale’s SEC Victory Being Overhyped by Bitcoin Bulls, Says Nicholas Merten – Here’s Why

2023-08-31
Add A Comment

Leave A Reply Cancel Reply

Top Posts

EOS impresses investors on price chart, but here’s the major issue

2022-08-25

Is AI Listening in on Your Keystrokes?

2023-08-07

Solana’s ‘far too many red flags’ too much for this exec

2022-04-17

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$26,931.00-0.61%
  • ethereumEthereum(ETH)$1,665.650.57%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.05%
  • binancecoinBNB(BNB)$215.600.21%
  • rippleXRP(XRP)$0.534.80%
  • usd-coinUSDC(USDC)$1.000.00%
  • Lido Staked EtherLido Staked Ether(STETH)$1,666.460.69%
  • dogecoinDogecoin(DOGE)$0.0619690.94%
  • cardanoCardano(ADA)$0.2493980.25%