Over the past days since Thursday, we saw Bitcoin safely trading about the $7000 mark. During last Thursday, Bitcoin surged to over $7K, breaking above the critical 50-days moving average line (marked pink on the following daily chart). Since then, and together with the bullish wind form Wall Street (3% gains on Friday), Bitcoin topped...Read More
In less than a month, the third Bitcoin block halving, arguably the most anticipated event in the crypto space as of now, will take place. After the halving, the reward that miners receive for verifying transactions and maintaining the Bitcoin network will be cut in half. In theory, the price of Bitcoin should increase after...Read More
The time until Bitcoin’s halving is slipping away as there are now less than 25 days until the long-awaited event. It will slash the block reward in half and miners and reduce the overall supply of freshly minted bitcoins on the market. According to many, and to history, this is a major bullish catalyst for...Read More
Bitcoin Bitcoin saw a small 2.6% price increase from where it was trading seven days ago. However, it had dropped substantially throughout the week. The cryptocurrency fell beneath support at the rising trend line to find additional support at the $6,447 level (short term .618 Fib Retracement). From here, Bitcoin rebounded yesterday to climb back...Read More
Bitcoin saw a notable increase in its price yesterday, conquering the $7,000 level, and it did a good job staying above so far. Meanwhile, the futures on legacy markets are also in the green, as news broke out that the Gilead coronavirus drug supposedly shows effectiveness. Bitcoin Price Above $7,000 As Cryptopotato reported yesterday, Bitcoin...Read More
Andrew Yang, an American politician, part of the Democratic Party and a former runner for the 2020 US Presidential Elections, voiced his concerns with the current stimulus package that the country rolled out. According to him, the amount sent to people should be higher. Andrew Yang Calls For $2,000 Per Month Stimulus A recent report...Read More
YouTube continues to restrict, and outright ban accounts, producing cryptocurrency-related content. In its latest strike, the popular video content sharing platform closed the account of one of the most popular Bitcoin analysts and vocal members of the community, Tone Vays. Crypto Analyst Tone Vays Banned on YouTube The largest video content sharing platform, YouTube, continues...Read More
That was a crazy day for the price of Bitcoin. Some would say it’s an ordinary day, but as we wrote here in yesterday’s price analysis, after sideways action in a tight range, the primary cryptocurrency had exploded. After trading for the last few days between $6800 – $7000, it first started with a deep...Read More
Since the coronavirus crisis had started, in the second week of March, we mentioned the obvious correlation between Bitcoin price and the global markets. Since the crisis started, the lowest point of Bitcoin was reached together with the S&P 500’s low, and the impressive correction can be seen on both assets’ charts. However, unlike the...Read More
After losing support above the $7,000 price benchmark, Bitcoin was trading steadily around the $6800 throughout the long weekend – including Good Friday, which took place last Friday. On our most recent BTC analysis from yesterday, we had stated that a price movement is imminent once the new week starts following the futures on Wall...Read More
A new study compiled on cryptocurrency usage outlined that people are mainly using them for regular day-to-day purchases such as food and clothes. It also indicated that there’s a significant room for adoption, as only 16% answered that they had previously bought any digital asset. Bursting Myths: Cryptocurrency Usage Cryptocurrency payment transfers are much more...Read More
China has always been in the spotlight when it comes to cryptocurrencies, despite the country’s controversial legislation on the matter. Last year, President Xi Jinping urged for further investments in blockchain-based technology, causing Bitcoin to mark an increase upwards of 40% in less than 24 hours. Now, however, regulations seem to be tightening up, and...Read More
According to Ross Ulbricht, best-known for creating and operating the darknet market website Silk Road, Bitcoin’s price is headed downward. Using the Elliot Wave Theory for his analysis, Ulbricht believes that there might be more pain ahead, taking the price significantly lower. More Pain For Bitcoin In a detailed blog post, Ross Ulbricht, the founder...Read More
On our most recent BTC price analysis, following Friday’s plunge to the $6800 area, we mentioned that Bitcoin reached a decision point. Both the price encountered a substantial support area, together with the daily RSI indicator, which reached precisely the 50 level, which is said to be the distinction between a bear and a bull...Read More
Bitcoin’s price went on a rollercoaster during the past week. After surging to its three weeks high at slightly above $7,400, the cryptocurrency saw a sharp decline upwards of 5% over the past 24 hours. This got it to where it currently trades at around $6,880. During the last week, altcoins managed to hold their...Read More
Bitcoin Bitcoin is up by a small 2% this week after suffering a major setback when it dropped by 5.5% in today’s trading session. The cryptocurrency had surged from the $6,800 level last Friday to reach as high as $6,400 at the start of this week. However, in today’s trading, Bitcoin fell by over 5%...Read More
On our latest price analysis from yesterday, we stated that the Bitcoin price is about to make its next major move. A few hours later, and the anticipated move played out. Unfortunately to the bulls, Bitcoin broke down the 3-day stability between the range of $7200 – $7400. As of writing these lines, the primary...Read More
So far, April had been a blessing for Bitcoin. The primary cryptocurrency was trading slightly around the $6,000 mark on April 1st, but since then, there was only one way. There is only one disadvantage in this short-term positive trend: Bitcoin price is back to the recent positive correlation with the global stock markets. Satoshi’s...Read More
The Tezos Foundation has collaborated with several Swiss-based cryptocurrency companies to tokenize Bitcoin. Called tzBTC, it gives holders the ability to interact with Tezos smart contracts while pegging to the value of Bitcoin. Tokenized Bitcoin On Tezos Blockchain The Bitcoin Association Switzerland announced launching the tzBTC digital token in a press release shared with CryptoPotato....Read More
Bitcoin’s price is no stranger to volatility and the period between the second half of 2017 and the first half of 2018 is a clear example. The price went from about $2,600 to its all-time high of $20,000 in December 2017 and all the way down to $6,000 in July 2018. At the time, though,...Read More
There’s something curious unfolding in global markets this month. While COVID-19 rages across the planet and the economy has ground to a halt, equities have actually been rallying. Global stock prices have been on their way up for two weeks now. It appears like Wall Street’s doing great. The Dow Jones Industrial Average has increased...Read More
Quick recap: March 12, 2020, following the global markets’ crash, Bitcoin experiencing its worst day ever, while clearing over 50% of its value. Some blamed the BitMEX liquidation system; some thought Bitcoin was going to zero. The daily high, which was recorded on that day, was $7969 on Bitstamp, while the daily low was $3850....Read More
The month of April so far seems bullish for Bitcoin. After starting the month at around $6200, the Bitcoin price quickly elevated to $6600 (April 1st) and built a ‘baseline’ around this price zone. At the same time, $6800 provided a tough resistance from the other side, and most of the time, Bitcoin was trading...Read More
The outbreak of the novel coronavirus (COVID19) caused serious turmoil in the global financial markets. According to a report by VanEck Global, an ETF and Mutual Fund Manager, during this crisis so far, gold correlates with Bitcoin increasingly in the short-term. Gold Correlates With Bitcoin Amid Coronavirus Outbreak Gold and Bitcoin are two assets that...Read More
The past days were promising for Bitcoin: After finally succeeding in breaking the $6800 resistance mark, Bitcoin price had seen a decent run of $400 to the reach $7236 as the highest price since the March 12 collapse. As mentioned in our previous price analysis, while Bitcoin was trading around $6700: “we already identify bullish...Read More
Yesterday we analyzed the current situation of BTC’s price. On the 4-hour chart, the symmetrical triangle pattern was about to break-down once reaching the lower ascending trend-line. However, Bitcoin held the support line nicely and since then, surged $600 in just a few hours. The triangle formation indeed broke-out but in favor of the bulls....Read More
Over the past two days, we saw Bitcoin losing momentum following the global markets. After reaching the $6600 resistance, Bitcoin price failed to break the symmetrical triangle as can be seen on the following 4-hour chart. From there, Bitcoin found temporary support upon the $6400 boundary, before continuing the 3-day plunge to the lower angle...Read More
Bitcoin price had a wild weekend: After losing the $6,000 support, Bitcoin plunged onto the next mentioned support level, and since then, saw a decent come-back to the price area the plunge started from. To conclude this, it was a wild ride going back to the same destination. Following our most recent price analysis, we...Read More
After three days of dull price action inside a $200 range ($6600 – $6800), Bitcoin saw a huge plunge back to the $6000 area, more than 10% were lost in a matter of hours. If you followed us here, we mentioned reasons why Bitcoin was looking more bearish than bullish, and we also stated that...Read More
Over the past day, we saw the Bitcoin price trading inside the tight range between $6600 and $6800. A few hours ago, Bitcoin finally seemed to break successfully to the upside touching $7000; however, the primary cryptocurrency got rejected very quickly, plunging $400 immediately back inside the described trading range. Over the past weeks, we...Read More
