Market Data Suggests American Investors Are Boosting The BTC Price Rally

Market Data Suggests American Investors Are Boosting The BTC Price Rally
фото показано с : zycrypto.com

2020-5-4 11:27

The bitcoin rally experienced since late March was driven by American investors, interested in diving into cryptocurrency before the halving event.

American exchanges have seen an increase in the number of users and investors, willing to trade at a premium when compared to non-US based exchanges. This is a reflection of how much more interesting BTC is to Americans as the halving event comes closer.

Source: CoinDesk

According to data provided by Skew —a data analytics firm for Bitcoin and Ether derivatives— the Bitcoin futures traded on the Chicago Mercantile Exchange (CME), has recovered at a much quicker pace than non-American exchanges.

CME bitcoin futures open interest continues to rebound pic.twitter.com/mZBxFRWyDZ

— skew (@skewdotcom) April 28, 2020

The halving event is less than two weeks away, so investors, miners, and whales, have been buying BTC probably with intention of shorting it after the halving. However, others could be looking for a long term investment that could be much profitable as time passes. If BTC follows past trends, the rise in price should be almost exponential, but as of right now, BTC has overshadowed gold as the most profitable investment of 2020.

Miners have been preparing form months to see their rewards cut from 12.5 BTC per mined block to 6.25, so their production costs will double. As a result, some small miners have started to sell part of their equipment to stay afloat, while others are migrating from one coin to another.

Bitcoin increased by 130% from March 12, the day which is now known as the Black Thursday —where it fell by 50% following a global trend sparked by the WHO and its declaration of the Coronavirus as a global pandemic.

Currently, bitcoin is being traded at around $8828 fighting against the resistance of the $9000 price point. Even though it failed yesterday, the Bull run of that day caused a lot of excitement in a crypto community eager to see some green after the carnage.

The halving event has kept the whole crypto community expectant of what could happen during just before and after it. So much was the interest that searches of terms related to that event started trending on Google and Twitter.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Rally (RALLY) на Currencies.ru

$ 0.0004604 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0004604 - H: $0.0004604
Капитализация $0 Rank 3603
Цена в час новости $ 8.73E-5 (427.38%)

american investors rally exchanges willing trade users

Источник: zycrypto.com

american investors → Результатов: 111


After The Crypto Price Crash During COVID-19, BTC Mining Hash Rate Has Regained 34%

A North American Bitcoin mining operator Bitfarms shared that they continued to mine BTC despite the violent sell-off triggered by investors' fear over the COVID-19. Interim CEO and Chief Strategy Officer, Emiliano Grodzki said, “We are pleased to see that, despite the challenges to traditional markets, our scale and quality of operations has allowed us […]

2020-4-8 21:28


62-year-old American earned $ 147 million on fraudulent cryptocurrency schemes

The American pleaded guilty to deceiving 70,000 people who invested in his fraudulent cryptocurrency schemes. In total, he managed to get about $ 147 million from defrauded investors. According to the Department of Justice, US citizen Steve Chen pleaded guilty to conspiracy to fraud, as well as tax evasion. From July 2013 to September 2015, […]

2020-2-24 10:50


Nvidia Claims Investors’ Cherry-Picking Information, Not Misled about Crypto Mining Boom

Nvidia has urged a California federal judge at a hearing on Friday to dismiss a case against it brought by investors who claim that the company misled them about cryptocurrency mining revenues. The American technology company that designs graphics processing units (GPUs) says the plaintiff cherry-picked information and relied on a Morgan Stanley analyst and […]

2019-12-8 19:05


Фото:

Moonday Mornings: eBay, Mastercard, Visa, Stripe, and Mercado Pago leave Facebook’s Libra Association

Good morning forkers, it’s that time of the week again. It’s Hard Fork’s wrap-up of the weekend’s cryptocurrency and blockchain headlines you shouldn’t miss. Let’s get to it. 1. Facebook‘s “cryptocurrency” Libra is facing yet more challenges as Mastercard, Visa, eBay, payment system provider Stripe, and South American partner Mercado Pago have pulled out of the troubled project, The Financial Times reports.

2019-10-14 11:40


American Express’s Mention of XRP Causes A Ripple Boom But Is It Worthy or FOMO?

Ripple is already a platform with a substantial following, but today’s progress is much different. American Express is one of the most well-known and elite credit card companies in the world, and it seems that cryptocurrency investors took some words from an old blog to heart. The blog, which is not an official announcement and […]

2019-7-7 01:03


Konstellation Network Wants To Disrupt Financial Services Implementing Blockchain With its New Partners

Korea-based Konstellation [DARC] is gaining momentum in expanding the alternative investment ecosystem due to its innovative technology and partners DarcMatter, the parent company of Konstellation, partnered with RocketDollar recently, a company that enables the ability of American workers to include cryptocurrency investments into their retirement portfolio.

2019-6-19 08:00


Coinbase CEO Points Out Crypto Winter Volumes Were Not So Chilly In South American Countries

“No Crypto Winter” In Latin America Coinbase CEO As Bitcoin (BTC) passes resistance level after level in 2019, it's safe to say that the crypto-winter is over. Now, many crypto enthusiasts and investors are looking forward to all round growth in Exchange-traded Funds (Etfs), halving spikes as well as institutional interests. The CEO of Coinbase, […]

2019-5-31 21:51


Фото:

Grayscale Reports $3.2 Million Average Weekly Investments in Bitcoin Trust

The first quarter of 2019 was bullish for the digital asset management firm Grayscale Investments and the company is gearing up to have another run. According to a first quarter “Digital Asset Investment Report” from the company, published on May 13, 2019, product inflows from Grayscale Investments grew by 42 percent over Q4 2018.

2019-5-15 19:23


American Success Story or Impending Disaster? Experts Wary of Lyft’s IPO

The story of Lyft’s rise to glory is quite a tale. The ride-hailing service filed to go public on Friday with a potential valuation of $20 billion to $25 billion, with a familiar prospectus which shows rising revenue which could one day turn into immense future profits as well as overall losses which could send the company under without a cash injection.

2019-3-4 18:32


дальше еще 62 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin “Profit-Taking Has Completed,” Top Analyst Reveals

An analyst has explained how profit-taking looks to have finished for Bitcoin in what has been a “very healthy reset” for the market. Bitcoin SOPR Suggests Profit-Taking From Investors Has Cooled Off In a new post on X, analyst Willy Woo has discussed about the latest trend occurring in the Bitcoin Spent Output Profit Ratio (SOPR).

4 Key Reasons Why The Bitcoin Bull Run Is Far From Over

In an analysis shared via X, renowned crypto analyst Ted (@tedtalksmacro) has provided compelling evidence to support his assertion that the current Bitcoin bull run is far from over. Ted’s insights are based on four critical indicators related to traditional finance and crypto liquidity, each pointing to sustained growth in the near future.

Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns

On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross still has a high value, a sign that may be bearish for BTC. Bitcoin NVT Golden Cross Is Still Near Historical Top Zone In a CryptoQuant Quicktake post, an analyst discussed the recent trend in the NVT Golden Cross for BTC and its implications for the price.

Bitcoin Hash Ribbons Form Capitulation Signal: What It Means

On-chain data shows the Bitcoin Hash Ribbons have recently gone through a crossover. Here’s what it could mean for the cryptocurrency. Bitcoin Hash Ribbons Suggest Miner Capitulation Is On As explained by CryptoQuant community manager Maartunn in a Quicktake post, miners are capitulating right now if the Hash Ribbons indicator is to be believed.

Bitcoin Deja Vu: Indicator Mirrors Pattern That Led To 2021 Top

On-chain data suggests a Bitcoin indicator is currently mirroring the same trend that led to the top of the bull run in 2021. Bitcoin Long-Term Holder Distribution Appears To Be Ending As explained by CryptoQuant community manager Maartunn in a post on X, the BTC long-term holders are currently showcasing a trend that’s reminiscent of […]

Bitcoin HODLer Profit-Taking Calms Down After Wild Selling Spree: Green Sign For Rally?

On-chain data shows the Bitcoin long-term holders have finally cooled off their profit-taking after showing a wild selloff just earlier. Bitcoin Coin Days Destroyed Has Calmed Down For BTC Recently As pointed out by BTC on-chain research account “The Bitcoin Researcher” in a post on X, the Coin Days Destroyed In Profit metric has declined […]

Bitcoin Supply Shock: Exchange Inflow Trend Lowest Since 2015

On-chain data shows the Bitcoin exchange inflow trend has been at its lowest in almost a decade recently, a sign that may be bullish for the asset. Bitcoin Exchange Inflows Have Been On The Decline Recently As pointed out by CryptoQuant author Axel Adler Jr in a post on X, the BTC exchange inflows have […]