Analysis Crypto by Thebittimes.Com

BTC price bear market bottom targets continue to flow in below $14,000 despite Bitcoin rebounding above $16,000. Bitcoin (BTC) stayed undecided on Nov. 24  as one trader reinforced a $12,000 BTC price target. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price “main target” for bottom $12,000-$14,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $16,500 as an eerie calm continued on the market. The pair nonetheless failed to convince analysts that better times were on the way, and popular commentator Il Capo of Crypto suggested that it was only a matter of time before the downside resumed. On both high timeframes (HTF) and low timeframes (LTF), the picture looked bleak. “Htf: lower lows and lower highs after breaking a monthly redistribution range. Below June's low and at supply zone. Ltf: weak trend caused by a short squeeze (bull trap). Volume dying,” he summarized to Twitter followers on the day: “12000-14000 remains the main targ...

Bitcoin, the market’s largest crypto asset, shed more than 11% of its value over the past day. At press time on Thursday, the king coin was seen exchanging hands at $16,315.48—a level last seen in Q4 2020. BTC/USDT Weekly | Source: TradingView Grayscale Bitcoin Trust Discount Widens Just like Bitcoin investors, even investors of Grayscale’s flagship Bitcoin Trust have been suffering losses lately—for the RoI has consistently remained negative. GBTC shares, as such, provide investors exposure to BTC, without the need to actually buy and HODL the asset itself. Conventionally, institutions prefer this kind of investment route more because of the passiveness offered. Grayscale Bitcoin Trust shares’ discount just hit rock bottom. At press time, it was standing at its all-time low level of 40.73%, with one share priced at merely $8.79. Source: Coinglass Grayscale, on its part, has been trying to convert its Bitcoin Trust into an ETF to reverse the...