Around lunchtime, as always, we review the live Bitcoin price and the prices of the top 25 crypto. In addition, we share some signals pointing to a Bitcoin bull run and dwell on miner luck.
We start with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price rises, prices top 25 crypto also rise
At the time of writing, the live Bitcoin price is EUR 37,913.77 ($43,103). This is an increase of 2.86% from yesterday’s Bitcoin lunch.
Sentiment is also positive among the top 25 crypto. We are currently seeing only green numbers with 1 exception. This exception is ChainLink (LINK), which is losing 2.73% from yesterday. The biggest gain today is for Avalanche (AVAX), which is up 10.86% from yesterday. However, as we can see on the Tradeincrypto.com site, this is not the only crypto that is up by double digits when we analyze all live crypto prices.
As we saw before, there are two camps, a group that has a pessimistic view on Bitcoin prices and a group that expects big price jumps. With the positive prices, the latter group is gaining more support again. We look at two bullish signals.
These bullish signals indicate a Bitcoin bull run
There are now several technical factors pointing to a Bitcoin bull run. We look at the Elliott Wave analysis and another particular signal.
BTC Elliott Wave analysis points to strong recovery ahead of new correction
Meanwhile, we see that the Elliott Wave analysis indicates that the heaviest correction wave has stopped as Bitcoin fell towards the top of the zone between $28,000 and $36,000 earlier this week. After this, the price recovered (and we are now seeing this continue). According to analysts, this is the start of a bullish wave that could last several weeks. It is expected that the price of the currency will go back to the price between $ 57,000.- and $ 60,000.- before the next correction has to come.
Bitcoin Dormancy Flow shows bottom signal
A second bullish indicator is the Bitcoin Dormancy Flow. This ratio basically compares price to spending behavior. When this ratio gets around 200,000 one sees this a as a bearish reverse, after which a bullish rally follows. This signal was only seen 5 times before. Each time a strong bull run followed. The overview below shows the development and the origin of the current hit for this ratio.
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Bitcoin entering the Buy Zone on Dormancy Flow.
This bottoming signal has only flashed 5 times before in Bitcoin’s history. pic.twitter.com/0P36jYMzvw
– Will Clemente (@WClementeIII) January 11, 2022
Small Bitcoin miner gets lucky and wins mining reward
One of the other ways to make money from crypto is to mine it. For Bitcoin in particular, there are many candidates who want to mine the coins by validating blocks on the blockchain. This is where mainly large players are active, putting in a lot of computer power. According to experts, the chance of being the first to validate with a small miner is 1 in 10,000 (or 0.000073%). Last night this happened. The lucky miner received the 6.25 BTC (worth $267,000) and the transaction fee reward of 0.1 BTC (worth $4,269).
Want to stay up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly price forecast might be a reading tip.
Note: We never give financial advice, so our contributions should not be interpreted as such. Always do your own research and decide rationally if, when, what and how much you want to invest in.
