What August's record breaking month for crypto flows means for bitcoin

Yahoo Finance2021-09-06

Over the past month, the crypto market has looked like a rising tide for all coins — but data suggest growth across the asset class hasn’t been equal. Last week, Bitcoin (BTC-USD) breached $50,000 for...

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Comments

diversify
2021-09-06
diversify
Cryptocurrency is so environmentally unfriendly though
- Aoyjai:
  Hmmm, wondering what is a good measure.
klo
2021-09-06
klo
J
WealthyKitty
2021-09-06
WealthyKitty
[Smile]
- WealthyKitty:
  [Smile]
xiaobaii
2021-09-06
xiaobaii
Like & comment please, thank you very much
- klo:
  j
- Ezumu:
  cc
Simplewind
2021-09-06
Simplewind
Nice
- xiaobaii:
  Like & comment please, thank you very much

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Although platform's heft doesn’t move the market, the swell of retail investors opening new accounts — especially for tax-advantaged IRA accounts — is an indicator of how curious investors are as they seek more traditional ways to participate in this market.\nBy rough approximation across all accounts, Kline said his clients hold 43% of their portfolio in bitcoin, 27% in ethereum, and the remaining 30 percent in a mix of other cryptocurrencies. The company offers 10 different cryptocurrencies in total, and is planning to more than double their crypto offerings in the fall.\nBack in early May when Ethereum started rising to its all-time high above $4,000, the company saw a large influx of swaps or pairing from BTC to ETH. It signaled many of his clients were shifting their portfolios from BTC to ETH.\nHowever, in recent weeks? “Not so much this time,” Kline told Yahoo Finance.\nTo be sure, there could be a lag. “Retail buyers are looking for percentage growth. While bitcoin reigns supreme, it has relatively stable growth while there is exponential growth happening on ethereum. That’s what really gets their attention,” Kline explained.\nBitcoin's August peak at $50K served as a “key technical and psychological level,” according to Will Clemente, an analyst at crypto mining and hardware broker Blockware Solutions.\nClemente told Yahoo Finance that for the last seven days, bitcoin’s price has remained in what he called a “volatility squeeze.” The idea being that buyers and sellers have balanced each other out, thereby reducing the asset’s typically high volatility.\nBut the analyst suggested that could be about to change. A volatility squeeze for bitcoin usually takes a week to two weeks to resolve.\n“That’s not telling you the direction, it's just telling you that there’s going to be a big move soon,” said Clemente.\nAnalyzing price action alone remains a dominant, more contested method for predicting buyers and sellers around a cryptocurrency. But Clemente’s specialization, on-chain analysis, has quickly become a crucial tool kit of metrics for investors hoping to gleam some clarity into the nascent asset-class.\nSimilar to technical analysis, the on-chain technique tries to forecast future moves based on supply and demand. However, it relies on a far larger quantity of data only available for assets operating on publicly available blockchains.\nWhile Clemente cannot predict the price shift of Bitcoin, he pointed to a handful of supply shock ratios, such as the movement of coin supply from speculators to long term holders and the exchange supply ratio, which shows the number of Bitcoins available to buy on exchanges relative to the overall circulating supply.\nEach of these metrics continue to rise higher after Bitcoin crested above $50,000, according to Clemente. Historically, supply shocks begin before the Bitcoin price moves upward.\nBitcoin Illiquid Supply (RSI)","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":817914759,"gmtCreate":1630897221971,"gmtModify":1676530415340,"author":{"id":"3584861659205722","authorId":"3584861659205722","name":"diversify","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3584861659205722","authorIdStr":"3584861659205722"},"htmlText":"Cryptocurrency is so environmentally unfriendly though","listText":"Cryptocurrency is so environmentally unfriendly though","text":"Cryptocurrency is so environmentally unfriendly though","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/817914759","repostId":1156270360,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5768826,"gmtCreate":1630912423333,"gmtModify":1663233459045,"authorId":3578371382142637,"author":{"id":3578371382142637,"idStr":"3578371382142637","authorId":3578371382142637,"name":"Aoyjai","avatar":"https://static.tigerbbs.com/9dcf5c34602d2433f3133ca6c6fece6a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":817914759,"type":1,"supId":0,"prevId":0,"content":"Hmmm, wondering what is a good measure.","text":"Hmmm, wondering what is a good measure.","html":"Hmmm, wondering what is a good measure."}],"langContent":"EN"},{"id":817077397,"gmtCreate":1630894219319,"gmtModify":1676530414248,"author":{"id":"3583974243419968","authorId":"3583974243419968","name":"klo","avatar":"https://static.tigerbbs.com/e2d3dcf83877ea1c1bf83a2ba2b540df","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3583974243419968","authorIdStr":"3583974243419968"},"htmlText":"J","listText":"J","text":"J","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/817077397","repostId":1156270360,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":817075609,"gmtCreate":1630894085101,"gmtModify":1676530414194,"author":{"id":"3575024526885711","authorId":"3575024526885711","name":"WealthyKitty","avatar":"https://community-static.tradeup.com/news/c2f3d6e51cfe134f5ee2524525692a21","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":8,"crmLevelSwitch":1,"idStr":"3575024526885711","authorIdStr":"3575024526885711"},"htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/817075609","repostId":1156270360,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5766698,"gmtCreate":1630894092388,"gmtModify":1631891164934,"authorId":3575024526885711,"author":{"id":3575024526885711,"idStr":"3575024526885711","authorId":3575024526885711,"name":"WealthyKitty","avatar":"https://community-static.tradeup.com/news/c2f3d6e51cfe134f5ee2524525692a21","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.51%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":8,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":817075609,"type":1,"supId":0,"prevId":0,"content":"[Smile]","text":"[Smile]","html":"[Smile]"}],"langContent":"EN"},{"id":817046417,"gmtCreate":1630893534239,"gmtModify":1676530413815,"author":{"id":"3571345352614779","authorId":"3571345352614779","name":"xiaobaii","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3571345352614779","authorIdStr":"3571345352614779"},"htmlText":"Like &amp; 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