Technical Crypto
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On-Chain Firm Announces Bitcoin's Fair Value: What's Next for BTC?
Bitcoin appears to be going through a period of consolidation and profit-taking after eight weeks of extraordinary price growth. According to data, several large BTC transactions have occurred to crypto exchanges in the last few days, suggesting that some whale addresses may be participating in the sell-off. Looking at historical trends, it is clear that the realized price and all-time A period of 14 to 20 months elapsed between the establishment of the high level.
Bitcoin price is trading above fair value, according to on-chain analytics firm reviews: What could this mean?
Bitcoin Fair Value Metric Review from Glassnode
Bitcoin appears to be going through a period of consolidation and profit-taking after eight weeks of extraordinary price growth. The world's largest crypto has seen incredible growth this year, with a particular spike in mid-October.
However, after Bitcoin reached its annual high on December 8, it appears to have experienced a roughly 6% pullback to the $44,500 level, suggesting some investors are trying to realize their profits. According to several on-chain price models from on-chain data provider Glassnode, Bitcoin's current fair value is currently between $30,000 and $36,000.
The 150% increase in Bitcoin's price this year has led to a surge that has taken it above $44,500, but on-chain data shows that the hot streak has cooled slightly after resistance formed at that price level. This has caused many short-term investors to profit from their holdings.
According to the data, several large BTC transactions have occurred to crypto exchanges in the past few days, suggesting that some whale addresses may be participating in the sell-off.
Bitcoin appears to be going through a period of consolidation and profit-taking after eight weeks of extraordinary price growth. According to data, several large BTC transactions have occurred to crypto exchanges in the last few days, suggesting that some whale addresses may be participating in the sell-off. Looking at historical trends, it is clear that the realized price and all-time A period of 14 to 20 months elapsed between the establishment of the high level.
Bitcoin price is trading above fair value, according to on-chain analytics firm reviews: What could this mean?
Bitcoin Fair Value Metric Review from Glassnode
Bitcoin appears to be going through a period of consolidation and profit-taking after eight weeks of extraordinary price growth. The world's largest crypto has seen incredible growth this year, with a particular spike in mid-October.
However, after Bitcoin reached its annual high on December 8, it appears to have experienced a roughly 6% pullback to the $44,500 level, suggesting some investors are trying to realize their profits. According to several on-chain price models from on-chain data provider Glassnode, Bitcoin's current fair value is currently between $30,000 and $36,000.
The 150% increase in Bitcoin's price this year has led to a surge that has taken it above $44,500, but on-chain data shows that the hot streak has cooled slightly after resistance formed at that price level. This has caused many short-term investors to profit from their holdings.
According to the data, several large BTC transactions have occurred to crypto exchanges in the past few days, suggesting that some whale addresses may be participating in the sell-off.
El Salvador's 'Freedom Visa' is running out
El Salvador's National Bitcoin Office said its $1 million 'Freedom Visa' program has received hundreds of applications since its launch on December 7 and expects it to be completely sold out before the end of this year.
El Salvador's National Bitcoin Office (ONBTC) has received hundreds of inquiries and dozens of applications both online and through embassies, a spokesperson told Cointelegraph via email.
“Based on the current level of interest, we expect the program to sell out by the end of the year.”
The Freedom Visa program, launched by the El Salvador government in partnership with the stablecoin company Tether on December 7, aims to open the path to citizenship by granting residence to a thousand people who donate $1 million worth of Bitcoin or Tether to the country.
El Salvador's National Bitcoin Office said its $1 million 'Freedom Visa' program has received hundreds of applications since its launch on December 7 and expects it to be completely sold out before the end of this year.
El Salvador's National Bitcoin Office (ONBTC) has received hundreds of inquiries and dozens of applications both online and through embassies, a spokesperson told Cointelegraph via email.
“Based on the current level of interest, we expect the program to sell out by the end of the year.”
The Freedom Visa program, launched by the El Salvador government in partnership with the stablecoin company Tether on December 7, aims to open the path to citizenship by granting residence to a thousand people who donate $1 million worth of Bitcoin or Tether to the country.
UK All Party Parliamentary Group (APPG) Invited CoinTR Board of Directors to the London Blockchain Regulatory Meeting
CoinTR representatives Ali Eşelioğlu and Şakir Ercan Gül, who were invited as special speakers on behalf of Turkey, expressed their thoughts in the panel that the legislators and banks should take action as soon as possible regarding the Central Banks' approach to digital assets and the opportunities that Web3 offers to traditional finance.
CoinTR representatives Ali Eşelioğlu and Şakir Ercan Gül, who were invited as special speakers on behalf of Turkey, expressed their thoughts in the panel that the legislators and banks should take action as soon as possible regarding the Central Banks' approach to digital assets and the opportunities that Web3 offers to traditional finance.
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