Inflation | Crypto Profit Bot

Ethereum price breaks out as ‘bad news is good news’ for stocks

June 24, 2022

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Ethereum’s native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears. Ether mirrors risk-on recovery ETH’s price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021. Overall, the upside […]

On the brink of recession: Can Bitcoin survive its first global economic crisis?

June 23, 2022

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Bitcoin (BTC) was a response to the 2008 global recession. It introduced a new way to transact without depending on trust of third-parties, such as banks, particularly failing banks that were nevertheless bailed out by government at the expense of the public. “The central bank must be trusted not to debase the currency, but the […]

Bitcoin price falls below $20K for first time since 2020, Ethereum dips under $1K

June 18, 2022

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Bitcoin (BTC) achieved a bear market first on June 18 as BTC price action gave up $20,000 support. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price crosses under 2017 all-time high Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD sliding under $20,000 for the first time since December 2020, reaching press-time lows of $19,066. […]

BTC price crashes to $20.8K as ‘deadly’ candles liquidate $1.2 billion

June 14, 2022

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Bitcoin (BTC) came within $1,000 of its previous cycle all-time highs on June 14 as liquidations mounted across crypto markets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price hits 18-month lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $20,816, on Bitstamp, its lowest since the week of December 14, 2020. A sell-off […]

Lowest weekly close since December 2020 — 5 things to know in Bitcoin this week

June 13, 2022

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Bitcoin (BTC) begins a new week with a totally different feel to last as BTC/USD seals its lowest weekly close since December 2020. A night of losses into June 13 means that the largest cryptocurrency is now edging closer to beating its ten-month lows from May. The weakness has left few guessing: shock inflation data […]

The total crypto market cap drops under $1.2T, but data show traders are less inclined to sell

June 11, 2022

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The total crypto market capitalization has been trading in a descending channel for the past 29 days and currently displays support at the $1.17 trillion level. In the past 7 days, Bitcoin (BTC) presented a modest 2% drop and Ether (ETH) faced a 5% correction. Total crypto market cap, USD billion. Source: TradingView The June […]

Axie Infinity: AXS price risks deeper losses despite 90% drawdown already

June 11, 2022

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Axie Infinity (AXS) has dropped by roughly 90% after peaking out at $172 in November 2021. AXS’s sharp correction has made it one of the worst performing digital assets among the top-ranking cryptocurrencies. Moreover, it could undergo further declines in the coming months, according to a mix of technical and fundamental catalysts listed below. Low […]

BTC price snaps its longest losing streak in history — 5 things to know in Bitcoin this week

June 6, 2022

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Bitcoin (BTC) starts a new week with some fresh hope for hodlers after halting what has been the longest weekly downtrend in its history. After battling for support throughout the weekend, BTC/USD ultimately found its footing to close out the week at $29,900 — $450 higher than last Sunday. The bullish momentum did not stop […]

5 reasons why Bitcoin could be a better long-term investment than gold

June 3, 2022

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The emergence of forty-year high inflation readings and the increasingly dire-looking global economy has prompted many financial analysts to recommend investing in gold to protect against volatility and a possible decline in the value of the United States dollar. For years, crypto traders have referred to Bitcoin (BTC) as “digital gold,” but is it actually […]

Billionaire Bill Miller calls Bitcoin ‘insurance’ against financial catastrophe

May 27, 2022

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Miller said Bitcoin “functioned without the Fed and without any interference” during times of market turmoil, concluding that “it’s an insurance policy, the way I look at it.” 4802 Total views 80 Total shares Bill Miller the billionaire founder and chief investment officer of investment firm Miller Value Partners, has said he considers Bitcoin (BTC) […]

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Category: Inflation