Author: Tony Spilotro

Lolli, a BTC-back Bitcoin rewards program, has just completed a a $5M pre-Series A funding round, backed by a variety of popular internet celebrities and influencers.

Here’s more on what names are behind the $5 million in investment, and how Lolli has grown since its inception.

Internet Celebrities, Alex Ohanian and Serena Williams, Invest $5M In Bitcoin Rewards Firm

Bitcoin rewards company Lolli just revealed it has successfully raised $5 million in funding as part of a pre-Series A funding round with a notable list of investors.

Of those involved are several internet celebrities, including Reddit co-founder Alexis Ohanian, popular YouTuber Jimmy “MrBeast” Donaldson, Casey Neistat, Philip DeFranco, and CodyKo. Other notable figures include Serena Williams, who join other early investors such as Ashton Kutcher and Michelle Phan.

Related Reading | This Bitcoin Metric Says The Top Is Still 350% Away

These investors have become involved through their respective firms, Serena Ventures, her husband’s Seven Seven Six, and Mr. Beast management company Night Media, who are building into the future of Lolli alongside Digital Currency Group and others.

Lolli co-founder Alex Adelman says the company has issued more than $3 million in Bitcoin rewards to date, ranging around an average of 7% BTC-back rewards at a growing list of major retailers.

Bitcoin has grown significantly, but these bullish factors could fuel another leg higher | Source: BTCUSD on TradingView.com

Top Lolli Users Earn 2 BTC, More Than $3 Million In Rewards Combined

Lolli boasts more than 250,000 users who can earn BTC back on purchases at retailers like Macy’s, Best Buy, Sephora, Foot Locker, and hundreds of others. These 250,000 users have collectively earned more than $3 million in Bitcoin rewards since the program’s inception.

Related Reading | Bitcoin Technicals Overheated, But Bullish Fundamentals Remain Unfazed

Top users, says the company, have earned as much as 2 BTC. Most have generated enough returns on the BTC they’ve earned, to pay for the original purchases they made in the first place.

The rewards program works through a browser extension for Chrome, Firefox, Brave, and others, letting users know when they’ve landed on a partner that they can earn rewards with. Once Lolli is enabled in-browser, simply complete the transaction, and BTC will eventually be credited to your account.

https://twitter.com/CircaDiem/status/1374714223570

That same account can also be tied to a smartphone app that lets users open a “loot box” for a daily stack of Bitcoin. Granted, these are typically tiny stacks of satoshi – the smallest unit of account of BTC – but there’s an occasional chance to win much larger cryptocurrency surprises.

The company will use the recent funding to build out the mobile app into a full shopping experience, and expand outside of the United States United States. Lolli is free to use, and at only 250,000 users globally, has enormous room to grow.

Featured image from Lolli, Charts from TradingView.com

Bitcoin price is back in the mid-$50,000 range, unable to push any lower despite bears best efforts and overheated technical indicators pointing to a potential trend reversal. However, several fundamental factors are proving to be too strong, and are setting the stage for the next leg up in the ongoing cryptocurrency bull trend instead.

Here’s what rising stablecoin supply says in the face of diminishing BTC reserves on exchanges, and what it could mean for all of crypto.

Fundamental Factors Have Fueled The Cryptocurrency’s Recent Rise To Stardom

Cryptocurrencies, like all free markets, are driven by the dynamic forces of supply and demand. Other factors, such as regulatory, political, environmental, and economical issues can also have a dramatic impact.

Related Reading | Bitcoin Technicals Overheated, But Bullish Fundamentals Remain Unfazed

Two examples of one extreme or another, include the Black Thursday market crash due to pandemic panic, and the polar opposite move to the upside due to a BTC supply shock.

Bitcoin has grown significantly, driven by bullish fundamentals | Source: BTCUSD on TradingView.com

A shift in avalaible supply and increasing demand for Bitcoin, has brought the price per coin to more than $60,000 at the high. Technicals have been mostly overheated the entire way up, and are reaching a boiling point.

Yet prices still aren’t falling any deeper than the mid-to-low $50,000 range, and it could be due to just how strong fundamental factors are currently.

The Bullish Factors Keeping Bitcoin Afloat, Another Leg Up Possible

Among the factors keeping Bitcoin price action afloat despite technical momentum indicators turning sharply down, is the continued lack of BTC on crypto exchanges. The liquidity crisis that has driven up prices so far, remains a vital factor in the buoyancy.

Related Reading | This Bitcoin Metric Says The Top Is Still 350% Away

Next, stablecoin supply has been steadily rising again, one of the primary factors behind each bullish impulse on the way up. Quant analysts have said that fresh USD was necessary to push higher, however, an increase in stablecoins could shift more capital into Bitcoin, and have a similar impact.

Stablecoin reserves continue to rise while BTC held on exchanges drops further | Source: CryptoQuant

If the leading cryptocurrency by market cap can sustain the current support levels and keep several bearish technicals at bay, then another leg up is the only way ahead. A continued rise could squeeze shorts at current all-time highs, causing prices to return to their parabolic trajectory.

If not, however, technicals will have outweighed fundamentals for the first time during the bull market, and it could result in the first more sizable correction since it all first began.

Will the increasing supply of stablecoins and low BTC reserve be enough to shake off momentum flipping bearish?

Featured image from Deposit Photos, Charts from TradingView.com

Bitcoin price is currently reeling due to a series of rejections above $60,000. After such a powerful impulse upward, technicals are severely overheated and beginning to turn down.

But regardless of any technical-driven selloff that might result, such continued bullish fundamentals in the leading cryptocurrency by market cap could keep prices from going too low, and rebounding quickly even if they do.

Bearish Bitcoin Technicals Hint At First Serious Correction Ahead

After six full months of green candles and growth of nearly $10,000 per month during that bullish stretch, the top cryptocurrency is finally starting to pull back from record highs.

With the critical quarterly close just a week away, Bitcoin would need to pump by more than $30,000 to avoid the first ever bearish divergence. Most timeframes below it down to the weekly, are also starting to signal a downturn ahead.

Several technical indicators suggest that Bitcoin should see a correction ahead | Source: BTCUSD on TradingView.com

The MACD – a momentum measuring indicator has flipped bearish for the first time in months, while the Stochastic indicator is running out of room within an ascending trendline after spending all of 2021 so far in zone that leaves the cryptocurrency exposed to the risk of a reversal.

Related Reading | Coinbase Bitcoin Outflows Are The Strongest Bullish Signal “Ever”

The weekly Relative Strength Index also lost the uptrend line, and has since confirmed it as resistance, matching the pattern from the 2019 peak.

This is just the tip of the iceberg in terms of bearish signals, but fundamentals are here to save the day.

Why Fundamentals Will Keep The Crypto Bull Market Running Strong

There’s no denying that by most technical indicator’s standards, things should be bearish for Bitcoin and could be in terms of price action in the near term. However, fundamentals are simply so strong, that even this heated of technical signals won’t stay that way very long with a decent reset in price action.

Any corrections in Bitcoin are likely to be bought up extremely fast due to the ongoing secular shift, and limited supply.

On-chain metrics show BTC reserves remain low, and fundamentals are healthy | Source: glassnode

The amount of BTC held on exchanges continues to diminish, with more than ten thousand of what little coins remain leaving Coinbase at a weekly rate.

There’s already a supply shock due to the cryptocurrency’s halving last year, and the sudden demand from institutions and corporations with deep wallets.

Holders have very little interest in selling at current levels. Will it pay off? | Source: glassnode

Bitcoin investors during this cycle, have mostly been unwilling to sell and haven’t reached the peaks that are reminiscent of past bull market tops.

Bitcoin miners have also reduced the sell pressure they were putting on the market, leaving only large sized whales left to help push overheated technicals along.

Related Reading | Bullish Bitcoin Miners Cease Selling For The First Time Since 2020

These whales have indeed been selling, causing one of the largest reductions in wallets of whale size historically. With big sellers who bought coins long ago finally gone, all that’s left are an incoming wave of whales, ready to buy what’s available of the dwindling supply.

This could indicate, that any deeper selloff will be swift, violent, but lead back to higher prices ultimately, thanks to just how bullish Bitcoin fundamentals are.

Featured image from Deposit Photos, Charts from TradingView.com

Bitcoin price is down nearly 10% from recent highs set earlier this month, but the underlying strength of the price action is beginning to fade ever so slightly.

The weekly MACD is also turning , potentially ready to cross over for the first time in months. Here’s how such a bearish crossover could result in as much as a 50 to 70% correction in the leading cryptocurrency by market cap.

Is The Bitcoin Bull Market Coming To A Conclusion Soon?

Bitcoin by most standards has been in uptrend for a full year now, dating back to Black Thursday in March 2020. The trend began to turn slightly up even before then, dating back to the bottom of the bear market in 2018.

From that bottom, the top cryptocurrency rocketed from lows but momentum finally ran out before new highs were reached. This last push, was successful in breaking through former resistance and setting a new all-time high three times the last cycle’s peak.

Related Reading | This Bitcoin Metric Says The Bull Market Might Soon Be Over

However, things could be once again turning down, much like they did in 2019. Or worse yet, according to the Moving Average Convergence Divergence on weekly timeframes, this could be the end of the bull market for some time.

At the very least, data shows that if a bearish crossover happens – something that Bitcoin is just inches away from – a between 50 to 70% correction typically follows.

Momentum is turning down, and past instances show steep corrections | Source: BTCUSD on TradingView.com

What Momentum Says About The Current Cryptocurrency Market Cycle

Looking at the above chart, the correlation between the logarithmic version of the MACD and past peaks are undeniable. When the MACD crosses bearish on weekly timeframes, it has been a reliable signal the top is in.

The one catch, is that the reading must be above 0.25 to be effective in spotting the top. It’s also worth noting, that each top actually happened before the bearish crossover, which is why the MACD has a notorious reputation as a lagging indicator.

A more detailed look at the LMACD reveals a lot about price action | Source: BTCUSD on TradingView.com

Removing price action, and focusing on the details of the LMACD alone, tells an in-depth story about price action over the last several years.

Any red arrows marked a medium-to-long-term top. Each were above the key level of 0.25, and three out of four are brushing up a descending trendline, which the LMACD is currently touching now. Two out of those three were tops, but there’s no telling if the third time is the charm.

Arrows marked in orange also show yet another 50 to 70% collapse after the original 50 to 70% crash has concluded, but those were sweeps of bear market lows. Blue arrows are a lot more confusing, resulting in bearish crossovers and selloffs, but also an immediate resumption of the bull trend.

Related Reading | Following Bitcoin “Reset,” It’s “Off To The Races Again”

Which is what brings Bitcoin to an interest inflection point currently. The LMACD is, as mentioned, touching a trendline dating back nearly a decade worth of bull market tops, adding credence to any theories that the peak of this cycle could be in already.

But its worth mentioning also, that due to the several blue arrows, and the fact that Bitcoin already broke through one descending trendline (red dashed line) could suggest that this current run is going to break more than just price records.

Finally, although a top could be in for now, there’s no ruling out a 2013-like scenario where there were two distinct peaks only seven months apart. That would imply that any bearish crossover, would ultimately turn back up similar to 2017, but bring with it another peak just like 2013.

Featured image from Deposit Photos, Charts from TradingView.com

Bitcoin price is struggling to get back over $60,000 where the current all-time high record stands. However, according to one top crypto researcher’s take on the cryptocurrency’s Energy Value, the top is still as much as 350% away from here.

A rise from current prices by 350% as predicted, would bring the price per coin to as high as $260,000 each, matching the expected targets of other analysts. Here’s more about Bitcoin’s Energy Value Oscillator and why the analyst in question believes the bull market still has so much more room to grow.

Bitcoin Could Climb To $260,000 Per Coin, Based On Energy Value Oscillator

Bitcoin is a disruptive technology with the potential to change the world and money forever, but it also could be a complete failure. As time goes by, however, the scenario where the cryptocurrency fails diminishes, and instead, it continues to prove its potential to the world.

The cryptocurrency network takes energy and converts it into monetary power. It does so through a complex process called proof-of-work that involves specialized computers called miners.

Related Reading | Following Bitcoin “Reset,” It’s “Off To The Races Again”

As the cryptocurrency’s network grows, and more energy is being pumped into keeping it in operation – incentivized by new coins – the Energy Value of each coin also grows.

The Energy Value Oscillator, created by Bitcoin expert Charles Edwards, measures that activity and turns it into a technical indicator rooted in fundamentals – much like Edwards’ various other tools, such as the Hash Ribbons and more.

Comparing this tool and how high the metric rises during bull markets, Edwards projects another 350% rise in the future for the price per BTC.

Theoretically, Bitcoin could rise another 350% compared to past cycles | Source: BTCUSD on TradingView.com

A 350% rise from current levels where the coin is trading now, would result in another $200,000 increase to a price of around $260,000 per coin.

Using the chart above, pulses of this nature are typically sharp and swift, over almost as fast as they begin. The current bull market going by previous cycle standards, only appears to be just beginning, and if did ultimately top out similarly to past cycles, would result in Edwards’ price target of $260,000 per BTC.

Related Reading | Data Shows Bitcoin Peaks Last Roughly 40 Days: When To Sell Your Coins

The one anomaly on the chart, as Edwards points out, was due to the introduction of ASIC miners, which created a sharp uptick in hash power being contributed to the Bitcoin network.

Peaks in bull markets are so visible because so many participants are pilled in at the top, looking for a piece of the pie. If the tool works the same in the future as it has in the past, that top appears to be nowhere near in sight.

Featured image from Deposit Photos, Charts from TradingView.com

Bitcoin is constantly the subject of controversy, bringing out pundits, skeptics, and critics of all kinds and of various domains. Economists call it a bubble, investors call it rat poison, and environmentalists claim it is slowly killing the planet.

Energy FUD is an easy target for the cryptocurrency due to the complex, proof-of-work consensus algorithm that requires power to operate, but according to a relatively new figure in Bitcoin investing, the answer to dispelling the energy FUD lies in Elon Musk. But why?

The Bitcoin Network Energy Consumption Conundrum

When Bitcoin was first introduced more than ten years ago by Satoshi Nakamoto, nothing else like it existed in the world. Today, thousands of cryptocurrencies exist all based on some form of the original blockchain technology that launched with the Bitcoin network.

To solve the double-spend issue plaguing past attempts at making digital cash, and to keep the network itself and its assets decentralized – meaning able to function without a third-party intermediary such as a bank – Satoshi added the proof-of-work consensus mechanism.

Related Reading | This Bitcoin Metric Says The Bull Market Might Soon Be Over

Mining is the intensive process of converting energy into the computing power necessary to keep this system in operation. The larger the Bitcoin network grows, the more computing power and therefore energy is required to keep it chugging along.

The network now consumes more energy than small countries like Switzerland and Argentina, and as it expands, so will the demand for energy. The recent growth of Bitcoin adoption almost overnight has environmentalists sounding the alarms, but it isn’t nearly as bad as it seems.

In fact, one CEO could be the answer to the energy FUD once and for all.

This retest could be a once-in-a-lifetime opportunity to get in before it is too late | Source: BTCUSD on TradingView.com

Coming To Save Crypto: How Elon Musk Is The Answer To Energy FUD

Elon Musk has now become synonymous with crypto, whether he meant to or not. For years, the Tesla and Space X CEO has spoken out on Twitter about Bitcoin and Dogecoin, even being cheekily labeled as the “CEO of Dogecoin”

Musk’s Tesla recently disclosed a substantial BTC buy, adding the green-focused company to the many who now hold the cryptocurrency as part of their corporate treasure strategy.

Relative newcomer to the Bitcoin space but heavy hitter, Anthony Scaramucci, says that Musk is the best come back to any claims regarding the ongoing energy FUD surrounding the crypto sector.

Related Reading | Following Bitcoin “Reset,” It’s “Off To The Races Again”

Scaramucci claims that “no living person has done more to protect the planet against climate change” than Musk, and the idea he’d support something so harmful to the environment is “absurd.”

Instead, he says that Musk sees the future in a different view, and understands that renewable energies will replace the current environmentally harmful mining processes keeping Bitcoin going, and will convert that renewable energy into monetary value with the potential to demonetize gold, art, equities, and just about everything else.

Featured image from Deposit Photos, Charts from TradingView.com

Bitcoin price has retraced 10% from highs and is still reeling from the rejection from above $60,000. The pullback has caused two important long-term moving averages to come dangerously close to death-crossing, that when crossed in the past have signaled that the top is in for the bull market.

Here’s what data says about the coming end of the bull market, when it might happen, and how many days left approximately you’d have left to sell your coins at the highest profit if the signal is correct. If it is not, Bitcoin price could be on the cusp of an unprecedented uptrend unlike never before.

Picking The Bitcoin Bull Market Top Could Be As Easy As Pi

Bitcoin price has appreciated more than 1,500% from Black Thursday 2020 low to the highs set over this weekend above $60,000.

The leading cryptocurrency by market cap couldn’t sustain buying above the rounded number more than three times the former peak set in 2017, and has since come crashing back down by as much as 10% so far.

Related Reading | Bloody Monday: Bitcoin Selloff Saw Record $1.6B In Liquidations

Debate has begun to if whether or not the top of the bull market is near, or potentially already in at this point. Adding fuel to these bearish takes, is the fact that the 111 day moving average is only 3.6% away from the “2X 350 day MA,” and in the past the metric has called “tops pretty well.”

According to one sharp-eyed crypto analyst who discovered the recurrence, when this behavior occurs on PositiveCrypto’s “Pi Cycle Top Indicator” it typically has appeared within four to ten days from the top of each bullish impulse.

PositiveCrypto's "Pi Cycle Top Indicator" has historically called past market tops | Source: BTCUSD on TradingView.com

In 2017, the peak of the bull run arrived just one day before the cross took place, with the metric reaching 3.6% distance just ten days before. Both times in 2013, 3.6% distance was achieved within a week from the top, and the top was within a week from the crossover one way or another.

The one anomaly was during 2011, when the cross arrived 40 days ahead of the peak. This time around, the two moving averages only just reached the critical 3.6% distance, but who knows what happens next.

Related Reading | Data Shows Bitcoin Peaks Last Roughly 40 Days: When To Sell Your Coins

Does that mean a peak is near? Or could the current bull market be so powerful, its is as if the cryptocurrency is reliving its early days of price discovery and the early 2011 anomaly is the more accurate direct comparison? Only time will tell.

If there is only limited time left in the current bull market, the same metric does also suggest that there could be yet another significant move higher before the peak is in.

Featured image from Deposit Photos, Charts from TradingView.com

Bitcoin price is still plummeting from a rejection at new highs set this weekend, and struggling to maintain support at former resistance levels. On the way down, the buying pressure has been far less than it was on the way up, which has one top cryptocurrency quant analyst warning that fresh USD capital is necessary for new highs.

Here’s what it might take for the leading cryptocurrency by market cap to make a full recovery and move beyond $60,000, according to key fundamental factors.

Fresh USD Inflows To Spot Exchanges Necessary For Further Bull Market Momentum

Bitcoin has been in an ongoing uptrend ever since Black Thursday of last year, when markets crashed globally due to the onset of the pandemic.

During the last year, months at a time were spent with the most dominant spot exchange in the United States, Coinbase, had a substantial price premium over other stablecoin-denominated exchanges.

Related Reading | Bloody Monday: Bitcoin Selloff Saw Record $1.6B In Liquidations

Cryptocurrency exchanges like Coinbase offer investors a direct fiat on-ramp into Bitcoin, Ethereum, and dozens of altcoins. When cash is pouring into the crypto asset class, the premium appears. When cash is bleeding back out, the premium diminishes, and can even tip in favor of stablecoin trading pairs.

I think $BTC would take some time to get another leg up in terms of demand/supply.

1/ Too many $BTC holdings in USD compare to stablecoin holdings on spot exchanges.

2/ BTC market cap is too big to get another leg up by leveraging stablecoin market cap solely. pic.twitter.com/daXPaKU3U1

— Ki Young Ju 주기영 (@ki_young_ju) March 17, 2021

According to Crypto Quant CEO and fundamental analyst Ki Young Ju, spot inflows will need to return bringing a fresh supply of USD into the market before new highs are set. For now, there’s simply not enough stablecoin inflows to sustain the current Bitcoin market cap, and a “reset” could be coming.

Fundamentals Suggest Bitcoin FOMO Is Waning, What It Might Take For New Highs

Fundamentals point to lower spot inflows at Coinbase, even despite thousands of coins leaving the platform each week.

Until more money comes flowing in, the leading cryptocurrency by market cap is at risk of losing an important uptrend line, pictured below.

Unless significant spot inflows come in, Bitcoin could lose this trendline | Source: BTCUSD on TradingView.com

Losing the trendline would send Bitcoin back to prices around $46,000 where a retest of former support turned resistance would occur. The deeper selloff could bring into question if a double top will form, with a downside target of around $32,000 based on the measure rule.

Related Reading | Data Shows Bitcoin Peaks Last Roughly 40 Days: When To Sell Your Coins

The full correction – if it stops there – would be nearly a full 50% correction in price. At some point along the way, the price per BTC should become attractive enough for spot inflows to return. The only questions that remain, are when that happens and at what price.

Any deeper and the leading cryptocurrency by market cap could be in for another bear market and a full 80% retracement from highs.

Featured image from Deposit Photos, Charts from TradingView.com

Bitcoin price fell yesterday by over 10%, and price action has been on a downward descent since. The selloff was in response to a variety of factors, including the introduction of a new ban in India, a CFTC probe into Binance, and a debate over what was thought to be whale moving a billion in BTC.

During the correction, the second-highest record ever was set for largest amount of money liquidated in long positions. Interestingly, the last major correction was far deeper, but saw a similar level of liquidations. Here’s what that means for market sentiment, and how that could impact Bitcoin price action in the days ahead.

The second highest ever total long liquidations happened during yesterday's blood bath | Source: BTCUSD on TradingView.com

Monday Bitcoin Bloodbath Results In Second-Largest Purge Of Longs Ever

During most of 2020 aside from the initial onset of the pandemic, Bitcoin price was immune to any negative news, and kept on climbing against all odds.

The asset’s perfect storm macro environment has propelled it into the limelight of the finance industry, and to a price beyond $60,000 per coin over this weekend’s high.

Related Reading | Bitcoin Could Close March With First Ever Quarterly Bear Signal

Whether its due to technicals being overheated, a string of bad news, or the fact that traders were so heavily overleveraged, a selloff cut the price per BTC back by 10% starting late Sunday night into Monday afternoon.

The selling continues, though bulls are showing signs of building support. During the madness, some $1.6 billion of margin longs were liquidated, according to data from Arcane Research.

More than $1.6 billion in over leveraged traders were liquidated on Monday | Source: Arcane Research

Why Did The Correction Wipe Out So Many Cryptocurrency Traders?

Bitcoin is in a bull market, and whenever the trading range makes a clean breakout, the asset has been traveling at the rate of tens of thousands per month.

The trend has been “only up” resulting in very few pullbacks aside from this latest one, and two other sizable corrections. The largest ever recorded, according to Arcane Research, was only a mere few million higher than the most recent crash, even despite a significantly less severe decrease in the same timeframe.

Related Reading | Data Shows Bitcoin Peaks Last Roughly 40 Days: When To Sell Your Coins

Clearly, sentiment is overly bullish, and that has left some bulls too eager to get into position for the next move higher. Many in Bitcoin could also now be in enormous profit, much more willing to take a gamble at current levels than before.

Whatever the reason, the traders have been targeted, and could act as a floodgate of liquidity until the leverage across the market decreases, and prices can rise again naturally.

Featured image from Deposit Photos, Charts from TradingView.com

Bitcoin price has retraced by more than 10% following new record highs set over the weekend, however, according to one capital manager, the cryptocurrency holding above $52K would keep price action within a long-term rising bull channel.

If that happens, the first ever cryptocurrency will remain on track for $100K or more in the coming months ahead. Here’s a closer look at the bullish uptrend channel keeping the ongoing rally afloat, and what might happen next.

Bitcoin Must Hold Bull Trend Channel At $52K, Claims Capital Manager

Speculation over Bitcoin price action has turned from blasting toward new highs to correction. The leading cryptocurrency by market cap bled out more than 10% in a sharp move overnight, which could be the start of some deeper downside.

Related Reading | Expert Take: Bitcoin Has Become A Monetary “Manipulation Gauge”

But as long as Bitcoin price holds above $52K, according to Vailshire Capital CEO Jeff Ross, a long-term, parallel bull channel will remain in tact.

The parallel uptrend channel, according to Ross’ chart, began with a breakout above the former all-time high at $20K Since then, price action has ping-ponged within the rising, bullish channel, taking the asset to three-times that former peak.

Bitcoin price is still trading well within the parallel bull trend channel | Source: BTCUSD on TradingView.com

Crypto Correction Within Larger Bull Trend “Confines,” Track To $100K Intact

Ross also says that if this uptrend channel holds, Bitcoin price is well on its way to prices of $100K per coin or higher in the coming months all based on the current technical picture.

Fundamentally, Ross says that on-chain metrics such as address growth and blockchain activity are bullish, and the macro environment is “wildly bullish” for Bitcoin.

Related Reading | Bitcoin Price Could Close March With First Ever Quarterly Bear Signal

The comment is likely in reference to that fact that the US government just issued another trillion dollar stimulus package, in which checks will begin showing up in the accounts of potential crypto investors this week.

Ongoing monetary supply expansion and fresh and free capital ready to flow into the cryptocurrency’s market cap, could keep the price per coin increase coming.

Several technicals are also favoring bears, which could make for an interesting and volatile few weeks ahead and March comes to a close.

Bitcoin is indeed “wildly bullish” by most standards, however, March is the worst month in the asset’s short history, and there are bearish divergences stacking on the quarterly candle closing at the end of the month for the first time ever.

Can the bullish uptrend channel Ross points out withstand the factors above, and can stimulus money keep the macro environment far too bullish for bears to gain an edge?

Featured image from Deposit Photos, Charts from TradingView.com

Bitcoin price has pulled back slightly from highs, but the trend has been up for over a year now, and is likely to continue as the nascent technology becomes widely adopted by institutions and traditional market investors.

In the future, the cryptocurrency, according to a top industry figure, will become a “report card” of sorts, scoring the government and its management of monetary policy. Here’s what that means for Bitcoin and why the asset will eventually take on such a role.

Bitcoin To Become Report Card On The Government

The narratives driving Bitcoin these days are nearly endless. There’s the devaluing of precious metals through the digital gold narrative; the currency as the future of collateral; “the stimulus asset”; and much more.

Related Reading | Bitcoin Price Could Close March With First Ever Quarterly Bear Signal

The next narrative and role that the cryptocurrency is will play, according to Galaxy Digital CEO Mike Novogratz, is “report card for how citizens think the government is doing managing their finances.”

“We’re in uncharted territory with how much money we’re printing and #Bitcoin is a report card on that.” – @novogratz pic.twitter.com/SHavy76xSh

— Swan 🦢 SwanBitcoin.com 🚀 (@SwanBitcoin) March 15, 2021

These sentiments echo Bitcoin expert Preston Pysh, who recently called the cryptocurrency a “manipulation gauge.” Both comments are in reference to the asset growing rapidly in response to ongoing money supply expansion, driven by government-led stimulus packages.

The United States, for example, has just approved and begun issuing stimulus checks to taxpayers in the amount of $1,400 a piece.

Bitcoin is already working as a report card, giving the government a failing grade | Source: BTCUSD on TradingView.com

Cryptocurrency Will Complete “Secular Shift” Before Making The Grade

Currently, the cryptocurrency is pulling back after a rejection from new highs, but this latest abuse of taxpayer money and a multi-trillion dollar bill that the country’s citizens will foot for years, says that Bitcoin will grow significantly if the report card theory is sound.

When stimulus efforts first began rolling out in 2020, Bitcoin price was still reeling from the Black Thursday panic selloff when the pandemic first struck. The first stimulus checks sent out at $1,200 invested in BTC, would now be worth over $11,000 today.

Related Reading | Expert Take: BTC Has Become A Monetary “Manipulation Gauge”

Those who voted against the government with their dollars that day, now have substantial profits to show for it. The more the government mismanages monetary policy, the larger the cryptocurrency’s market cap will grow, enabling the “report card” effect that Novogratz speaks of.

But before then, he says Bitcoin still has to complete the ongoing “secular shift” in which the asset class has become validated in the eyes of finance, and now every insurance fund, endowment, and more must begin adding it to their portfolio, or risk missing out on capital growth in a disruptive sector.

Featured image from Deposit Photos, Charts from TradingView.com

Bitcoin price has been an uptrend for a year now, and given the strength of the move and the fact the asset is now at more than $50,000 per coin, begins to bring up the question: when to start selling your coins?

According to past crypto bull market data, the final push to the peak and remaining third of the bullish impulse, lasts for a period of only forty days before it is all over. But is it possible to know when this is happening or when it is about to end?

Velocity And Volatility At The Top Gets Fast And Furious

The cryptocurrency asset class is highly speculative in nature, but is beginning to become more fundamentally sound as adoption takes place and proof of concepts become working products.

However, thanks to Bitcoin’s block reward halving recurring every four years, thus far, crypto market cycles can be timed with some accuracy.

Related Reading | Bitcoin Could Close March With First Ever Quarterly Bear Signal

Following each halving, it is time to stop trading Bitcoin, and instead hold for the next phase of markup. Timing the top, however, isn’t so simple.

Each move when measured and divided into thirds, sees the fastest and most violent move in the final third. According to data, these periods and the final one-third stretch of the bull run, happen within a timeframe of only forty days and forty nights.

Both cycles the top cryptocurrency only spent forty days in the top third. | Source: BTCUSD on TradingView.com

Timing Bitcoin Peaks And Crypto Market Cycles: When To Sell Your Coins

Within those forty days, Bitcoin price completes its final parabolic push, and sees the first break of that advance that it cannot recover from.

Missing this final one third stretch, results in significant losses – as much as 50% off the asset’s peak almost immediately.

Data also says that assets that have gone parabolic, once broken, retrace 80% or more. Iconic commodities trader Peter Brandt accurately called for the cryptocurrency’s bottom range nearly a full year in advance using these reliable metrics.

During the last bull market, Bitcoin price dropped from $20,000 to only $3,000 – leaving many investors stuck holding for another cycle to cash out in profit.

Related Reading | Bitcoin “Cheat Sheet” Calls For Next Leg Up To $77K

The cycle before it, Bitcoin price also retraced 80% and it will do it again when this cycle has concluded. Regardless of this risk, investors still get in and try to get out at the right time.

Past cycle tops have almost always historically happened in November and December, which is has historically been a time when markets reach their cyclical peaks. It is not entirely clear why this is, but due to this being a widely known fact, any peaks could be front run during this bull run.

Other ways to potentially time the top, is to watch for the monthly RSI to reach highs from past bull cycles, and only then its playing a guessing game as to when the top is actually in.

Featured image from Deposit Photos, Charts from TradingView.com

Bitcoin price just pulled back 5% from the now rejected retest of the asset’s current-standing all-time high. The leading cryptocurrency by market cap was struggling with resistance as it was, but news breaking that Binance is the focus of a CFTC probe caused the pullback to worsen sharply.

Here’s a brief breakdown of what’s going on in this developing situation, and what this could mean for the cryptocurrency’s ongoing uptrend.

Breaking: Commodity Futures Trading Commission Opens Investigation Into Binance

According to a breaking report circulating from Bloomberg News, leading cryptocurrency exchange Binance is the subject of an ongoing CFTC probe. The Commodity Futures Trading Commission is investigating if Binance served US customers, allowing them to trade cryptocurrency derivatives trading products that are in violation of US regulations.

Related Reading | Bitcoin “Cheat Sheet” Calls For Next Leg Up To $77K

The CFTC is among the chief regulatory enforcers in the United States, alongside the Securities and Exchange Commission, and have launched investigations into BitMEX and Tether in the past.

Binance commands a lion’s share of the total cryptocurrency market trading volume, and its footprint extends into CoinMarketCap, and just about everywhere else the industry touches. The significance of the breaking news caused Bitcoin to add to its now 5% pullback from recent highs.

Bitcoin price has retraced by 5% so far, but could more downside be coming? | Source: BTCUSD on TradingView.com

Could Negative News Turn Sentiment And Derail The Bitcoin Bull Run?

Bitcoin price is undeniably overheated by most standards. Technicals have issued bearish divergences for months on end, overbought conditions are prominent on most timeframes, yet pullbacks have lasted only briefly as dip buyers scoop up BTC at whatever price they can get.

But with technicals this overheated, what could start as a small 5% correction on negative news could have a butterfly effect that causes a reset in price action and sentiment.

Related Reading | Bitcoin Could Close March With First Ever Quarterly Bear Signal

Bitcoin has gone nearly a full year in an uptrend with very little time spent correcting. On the anniversary of the catastrophic Black Thursday selloff, a certain panic could still be in the air that causes a domino effect and sends Bitcoin toppling further.

For now, support at $55,000 is holding, but losing it could cause another drop to $50,000 where support will need to hold, or risk a larger scale reversal.

Featured image from Deposit Photos, Charts from TradingView.com