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Author Topic: BTC price exceeds $10,000 on Feb 10th … on-chain and off-chain growth positive  (Read 75 times)
Xangle
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February 11, 2020, 08:57:49 AM
 #1

[Xangle Briefing] BTC price exceeds $10,000 on Feb 10th … on-chain and off-chain growth also positive
https://xangle.io/mainnet-stats

BTC price hitting $10,000 indicates a 41% increase from the beginning of the year.

1) On-chain Activity
- [6th February] Bitcoin reaches 500 million transactions (milestone)
- [11st February] 24H Transaction volume $10.9B (+100.67%) & 0.74M new addresses (+7.85%)

2) Off-chain Developments
- [December 2019] Rakuten offers to exchange Rakuten Super Points for crypto assets including BTC.
- [December 2019] Bakkt launches Bitcoin Options
- [January 2020] CME Globex launches bitcoin futures & options
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February 11, 2020, 09:31:21 AM
 #2

The price has already fallen and again below $ 10,000 for bitcoin. Therefore, there will be a lot of news about bitcoins that have reached the mark of $ 10,000, because I think that the price may slightly exceed it, then roll back. Now the main thing is to gain a foothold at the level of 9800-9900.

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February 11, 2020, 10:08:56 AM
 #3

The price has already fallen and again below $ 10,000 for bitcoin. Therefore, there will be a lot of news about bitcoins that have reached the mark of $ 10,000, because I think that the price may slightly exceed it, then roll back. Now the main thing is to gain a foothold at the level of 9800-9900.

We are below $9,800 now and it is still falling at the time of writing. Though I'm positive about Bitcoin, there's still a slight chance that what happened in October 2019 might happen this time too where Bitcoin reached $10,000 and still fell $8,000. The halving is near (As my source say, this May) and I hope that this will be the driving force to go beyond $10,000.

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February 11, 2020, 10:47:17 AM
 #4

The price has already fallen and again below $ 10,000 for bitcoin. Therefore, there will be a lot of news about bitcoins that have reached the mark of $ 10,000, because I think that the price may slightly exceed it, then roll back. Now the main thing is to gain a foothold at the level of 9800-9900.

We are below $9,800 now and it is still falling at the time of writing. Though I'm positive about Bitcoin, there's still a slight chance that what happened in October 2019 might happen this time too where Bitcoin reached $10,000 and still fell $8,000. The halving is near (As my source say, this May) and I hope that this will be the driving force to go beyond $10,000.

This just shows the nature of Bitcoin volatility and how fast price can change. Temporary price rise doesn't mean continuous growthw and corrections are possible at any moment.
Currently price pulled back with tendency to go even lower. We can see that price stayed in a range of 10000| for a very short time so don't make big plans yet.

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February 11, 2020, 11:04:57 AM
 #5

1) On-chain Activity
- [6th February] Bitcoin reaches 500 million transactions (milestone)
- [11st February] 24H Transaction volume $10.9B (+100.67%) & 0.74M new addresses (+7.85%)

The number of transactions is still below 2019 levels:



The value of tx is nowhere near 10 billion


Actually the peak was at around 5 billion during the 2017 rush when BTC reached 20k.

I don't know what you use to calculate that but I have a feeling you aren't excluding change from the transaction count.





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February 11, 2020, 12:03:01 PM
 #6

https://twitter.com/bitfinex/status/1227163103332327424?s=20

Just saw this and whenever I have seen these in the past with Bitfinex or Bitmex then we have seen either a pump or dump with BTC.

Hopefully, it will be a upward trend this time and the wave continues.

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February 11, 2020, 05:24:05 PM
 #7

Seeing as how BTC has moved from time to time every increase it does, I doubt it would stay at $9.8k for long. That is, if it continues the same pace that it has had in the past month, then it shouldn't stay at the current price range for more than a week or so. Still, even if everything goes contrary to what I say, volatility is a nature of BTC so there's nothing we can do.

The price has already fallen and again below $ 10,000 for bitcoin. Therefore, there will be a lot of news about bitcoins that have reached the mark of $ 10,000, because I think that the price may slightly exceed it, then roll back. Now the main thing is to gain a foothold at the level of 9800-9900.
If it fails to get a foothold at $9.8 though, it may actually continue going down back to $8k. That's already an optimistic outlook though. Still, BTC has continuously shown such habits the last month, where it goes down a bit after pushing through and stays at the same price for a few days before going up again. Hopefully, we can expect the same for this time.

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February 11, 2020, 08:11:48 PM
 #8

Well it surpass 10k but will go again down if somoen will keep sell it, and maybe grow will continue in March.
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February 12, 2020, 02:23:05 PM
 #9

[Xangle Briefing] BTC price exceeds $10,000 on Feb 10th … on-chain and off-chain growth also positive
https://xangle.io/mainnet-stats

BTC price hitting $10,000 indicates a 41% increase from the beginning of the year.

1) On-chain Activity
- [6th February] Bitcoin reaches 500 million transactions (milestone)
- [11st February] 24H Transaction volume $10.9B (+100.67%) & 0.74M new addresses (+7.85%)

2) Off-chain Developments
- [December 2019] Rakuten offers to exchange Rakuten Super Points for crypto assets including BTC.
- [December 2019] Bakkt launches Bitcoin Options
- [January 2020] CME Globex launches bitcoin futures & options

Based from the given sets of ideas, we could really see the positive developments in the standing of Bitcoin. This proves to be a great sign for the value of it in the future.

Bitcoin in the present is rapidly increasing in its value, from the sudden dump in the earlier days to the restoration of its new high value and reaching of the $10,400 value. It is certainly becoming a fact that the halving is technically affecting the price of Bitcoin even if it is still months away.

What could we expect when the halving comes? I think we should hold and store Bitcoin as much as we can.

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February 16, 2020, 02:59:14 PM
 #10

The price is now below $10,000 but the fact that it again reached such value is a good thing knowing how low the market prices became on the previous years after the all time high. It is quite a good sign that the market is slowly being back to its feet. The price is again falling but there nothing to worry , it will again rise, given that halving is approaching, changes might be observable.
Well it surpass 10k but will go again down if somoen will keep sell it, and maybe grow will continue in March.

in the mid year I guess. There will be adjustments due to the anticipated events and it might highly affect the investors which may reflect to the market price of Bitcoin so the best thing is to wait for further market behavior.
The price has already fallen and again below $ 10,000 for bitcoin. Therefore, there will be a lot of news about bitcoins that have reached the mark of $ 10,000, because I think that the price may slightly exceed it, then roll back. Now the main thing is to gain a foothold at the level of 9800-9900.

We are below $9,800 now and it is still falling at the time of writing. Though I'm positive about Bitcoin, there's still a slight chance that what happened in October 2019 might happen this time too where Bitcoin reached $10,000 and still fell $8,000. The halving is near (As my source say, this May) and I hope that this will be the driving force to go beyond $10,000.

This just shows the nature of Bitcoin volatility and how fast price can change. Temporary price rise doesn't mean continuous growthw and corrections are possible at any moment.
Currently price pulled back with tendency to go even lower. We can see that price stayed in a range of 10000| for a very short time so don't make big plans yet.
The good thing is to see the brighter side. The price indeed fell but the fact that it is not that deep, we should still have our hope to the future of its market price for this year.

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February 16, 2020, 04:25:02 PM
 #11

It fell quickly back below the $10,000 mark, but held off at  a range of -$100 to -$300. That can not be considered s crash. According to CMC it currently sits at; $9868, and it's fluctuating very quickly.

It would be great if we can build a temporary support level at about $9800 (or slightly higher or lower).
Stable levels at these prices would attract more investors and increase the number of transactions let to more development both on and off chain.
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