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
Two days ago, while Bitcoin was consolidating around the $6000 level, we had anticipated a huge price move coming up. Looking at the following 4-hour chart, we can see that Bitcoin had found support upon the mentioned 4-hour MA-50 line (~$5700, marked pink), and following another Fed’s announcement, broke above the short-term descending trend-line. In...Read More
Over the past three days, we saw Bitcoin breaking above the $6,000 milestone, and even succeeding in breaking the next significant resistance at $6400 for a few hours, including toping above $7K on some exchanges. However, Bitcoin got quickly rejected and retraced back to the $6K range, yes, the same price range from the second...Read More
Is this the day we had been waiting for? Bitcoin completed an 18% price surge over the past 24 hours. But not just that. Yesterday, we mentioned that despite the massive crash in the global markets, Bitcoin’s showing stability above the $5,000 price mark. That stability of yesterday, was the first time after weeks, that...Read More
Quick recap: for the past few weeks, Bitcoin had been following the crashing global markets. While the S&P 500 and Nasdaq lost more than 30% over the past month, Bitcoin followed them but with a little bit of leverage. The primary cryptocurrency is now trading at a 50% discount from the highs of mid-February, when...Read More
While the US stock market saw its steepest one-day sell-off since Black Monday in 1987, Bitcoin saw its steepest one-day sell-off in its ten-year history, just a few days before. But don’t worry, that was institutional money running from everything Thursday. Of course, it ran from the risky cryptocurrency industry. Don’t forget that institutional investors...Read More
The Federal Reserve made an unexpected announcement at 5 PM U.S. Time Sunday afternoon. Along with another $700 billion immediate injections – $500 billion in treasuries and $200 billion in mortgage-back securities, the Fed is cutting the rate to zero. Donald Trump fires all the guns he has at an early stage of the coronavirus...Read More
Bitcoin has tough days. The primary cryptocurrency had lost 40% of its value over the past four days. The fact that the price of Bitcoin is positively correlated with the global stock markets had been a surprise to many in the crypto community, who waited eagerly to see Bitcoin price exploding amid the emerging coronavirus...Read More
It’s safe to say that unless unexpected things happen, this will be the worst week for Bitcoin since 2013. During the second week of December 2013, Bitcoin had seen a plunge from $864 to $382, more than a 50% decline. Those were the days when MT.Gox was the only major Bitcoin exchange out there. Just...Read More
