A cryptocurrency investor achieved a remarkable profit of $131.72 million by investing in Ether during the 2022 bear market and holding it through two years of uncertain market conditions. Blockchain analytics firm Lookonchain identified an Ether wallet address of this investor, showcasing the long-term benefits of holding through market volatility. The term “diamond hands” refers to individuals who maintain their investments despite price fluctuations and market turbulence. According to Lookonchain, the investor purchased 96,639 ETH from the Coinbase crypto exchange between September 3 and 4, 2022, when Ether was trading at approximately $1,567. As a result, the investor acquired $151.42
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Ethereum Transaction Fees and Destruction Rates Surge Despite Decline in Active Accounts
According to data from The Block, Ethereum’s transaction fees (7-day moving average) have experienced a significant surge over the past three weeks. As of September 2021, the latest fee stands CryptoIntelligence
Bitcoin Price Regains Strength: Is a New Rally Brewing?
Bitcoin price gained pace above the $62,500 resistance. BTC even cleared the $63,200 level and is now consolidating gains above $63,500. Bitcoin is gaining pace above the $63,200 resistance zone. The price is trading above $63,400 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $63,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend gains if it stays above the $62,500 support zone. Bitcoin Price Extend Gains Above $63,500 Bitcoin price extended its increase above the $62,500 level. BTC was able to clear the $62,800 and $63,200 resistance levels to move further into a positive zone. There was also a break above a connecting bearish trend line with resistance at $63,220 on the hourly chart of the BTC/USD pair. The bulls even pushed the price above the $63,500 level. A high was formed at $63,965 and the price is now consolidating gains. There was a minor move below the $63,750 level. The price dipped and tested the 23.6% Fib retracement level of the upward move from the $62,440 swing low to the $63,965 high. Bitcoin is now trading above $63,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $63,950 level. The first key resistance is near the $64,200 level. A clear move above the $64,200 resistance might send the price higher. The next key resistance could be $65,000. A close above the $65,000 resistance might spark more upsides. In the stated case, the price could rise and test the $65,500 resistance. Are Dips Supported In BTC? If Bitcoin fails to rise above the $63,950 resistance zone, it could start a downside correction. Immediate support on the downside is near the $63,500 level. The first major support is $63,200 and the 50% Fib retracement level of the upward move from the $62,440 swing low to the $63,965 high. The next support is now near the $62,500 zone. Any more losses might send the price toward the $61,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $63,500, followed by $63,200. Major Resistance Levels – $63,950, and $64,000. CryptoIntelligence