22 April 2021 (THU)- Bitcoin (BTC) Daily Risk Report

By quantdoge | Daily Crypto Risk Report | 22 Apr 2021


Investment Disclaimer:

  • I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only.
  • Past performance presented here is not an indicator of future performance.
  • This post expresses my own opinion about the cryptocurrency mentioned herein and is not an offer to buy or sell, or a solicitation of any offer to buy or sell the cryptocurrency mentioned in this post.
1. Top 3 Good News for BTC HODLERS !!!
  • China’s Central Bank Regards Bitcoin as an ‘Investment Alternative’
    Statistic as of 2021-04-23 12:19 PM: 11 positive votes, 0 negative vote

    Li Bo, deputy governor of the People’s Bank of China (usually abbreviated to “PBoC” or “PBC”) recently called Bitcoin ($BTC) an “investment alternative.” According to a report by The Block, when asked last Sunday — during a panel hosted by CNBC at the Boao Forum for Asia — if China intended to maintain its stance […]  (Taken from CryptoPanic)


  • Twitter CEO Jack Dorsey: ‘Bitcoin Incentivizes Renewable Energy’
    Statistic as of 2021-04-23 12:19 PM: 5 positive votes, 0 negative vote

    On Wednesday (April 21), Jack Dorsey, the CEO of Twitter and Square, who is a huge believer in Bitcoin, said that the flagship cryptocurrency “incentivizes renewable energy.” According to Bloomberg, on 16 May 2018, Dorsey, who is also the CEO of Twitter, shared his belief in Bitcoin with a crowd of crypto enthusiasts at the Consensus 2018 […] (Taken from CryptoPanic)

  • Veteran Trader Peter Brandt: Bitcoin’s Price Correction Is ‘Very Mild Historically’
    Statistic as of 2021-04-23 12:19 PM: 5 positive votes, 0 negative vote

    Peter L. Brandt, who is one of the world’ most respected classical chartists and commodity traders, says that Bitcoin’s most recent price correction is “very mild” when compared to historical pullbacks.  This is what Raoul Pal, Co-Founder and CEO of Real Vision, says about Brandt: “Peter is simply one of the very best and most experienced classical […] (Taken from CryptoPanic)

2. Top 2 Bad News for BTC HODLERS !!!
3. How Bitcoin Performs Relative to Other Cryptos ?

 

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As of 23 April 2021, Bitcoin has made a cumulative return of 749.04% since Jan 2020 and 183.89% since Jan 2021. It is currently the 12th best performing crypto asset since Jan 2021 as compared to the other cryptocurrencies presented above.

4. Technical Analysis on Bitcoin

4.1. Volume Weighted Average Price (VWAP)

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4.2. Moving Average Convergence Divergence (MACD)

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4.3. Bollinger Band

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4.4. Relative Strength Index (RSI)

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Based on the technical analysis presented above, quantdoge opines that Bitcoin is over-corrected and is poised to rebound to its original $ 60,000 per BTC level in the short run, but I could be wrong, hence please make your careful due diligence before making any financial decision. 

5. Bitcoin Risk Profile

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Based on the 100-day 95% historical Value-at-Risk (VaR) profile of Bitcoin defined above, BTC seems to trade at a lower risk level on 22 Apr 2021 as compared to 10 days before on 13 Apr 2021, with its biggest pullback being seen at 13.95% on a single day during the last 100 days. However, I could be wrong, hence please make your careful due diligence before making any financial decision. 

6. Price Simulation for Bitcoin

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https://www.coinbase.com/join/lim_2kx

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If you are into Chainlink (LINK) and Dogecoin (DOGE), I have made a similar analysis on it at:

If you like my analysis and articles, please follow me at @quantdoge for daily updates. 

 

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quantdoge
quantdoge

Data scientist in crypto and blockchain space.


Daily Crypto Risk Report
Daily Crypto Risk Report

This blog was created by quantdoge, a data scientist in the cryptocurrency and blockchain space to publish daily risk reports on different cryptocurrencies. All published reports in this blog were analyzed with in-house algorithmic trading and quantitative risk management technology. ** Investment disclaimer: ** I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only.

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