While Bitcoin is touted as uncorrelated, the cryptocurrency has been following the inverse of one asset over the past few months: the U.S. dollar. Like gold, BTC’s price action is partially dictated by the value of fiat currencies. Over the past few months, the negative correlation gold and Bitcoin have with the U.S. dollar has…
Bitcoin has resumed its descent to the downside as legacy markets have opened in the red once again. The leading cryptocurrency has been flirting with $10,000 all morning, nearing the trend lows. The cryptocurrency is reaching pivotal supports as it continues its descent. One trader went as far as to suggest that if BTC doesn’t…
Bitcoin has collapsed by over $2,000 since the highs of last week. Even after a slight bounce at the $9,800 lows, BTC remains 20% below those highs. Bitcoin’s inability to capture key resistances in the $10,500-11,000 region has left some analysts concerned. The concerned say that consolidation under $10,500 may trigger a move to the…
Over the past few hours, Bitcoin has undergone a strong bounce from its local lows at $9,800, trading at $10,300 as of this article’s writing. This $500 bounce marks a positive trend for an asset that has shed 20% in the span of four days. Fortunately for bulls, a number of technical analyses indicate that…
Bitcoin has slid lower as legacy markets have undergone a strong correction over recent days. This was evident when BTC crashed around 8% when the S&P 500 slid by around 3% in a single trading session. The leading cryptocurrency seems primed to move lower if stocks continue to drop. But according to a macro analyst,…
Bitcoin has sustained a strong correction over the past few days as legacy markets have turned red. The price of the leading cryptocurrency just plunged under $10,000 minutes ago for the third time in the past 48 hours. BTC now trades for $9,950 as of this article’s writing, around a percent or two above the…
Bitcoin has sustained a strong drop over the past few days as legacy markets have undergone a strong correction after a record rally. The leading cryptocurrency traded around $9,800 on Friday morning as bears sent the cryptocurrency lower. This is a stark correction from the $12,000 local highs seen just days ago and the $12,500…
Few expected Bitcoin to be in the position it’s in now just days ago. Just earlier this week, the leading cryptocurrency was riding high, trading above $12,000 as investors thought the rally to new all-time highs had begun. There were reasons to believe this: gold was surging, the U.S. dollar was crashing, increased inflation was…
Bitcoin has experienced a strong drop in the past 48 hours after a strong rally to start the week. The leading cryptocurrency now changes hands for $10,300 after it underwent a strong $2,000 correction that brought it as low as $9,990 on Friday morning. There are crucial reasons why the cryptocurrency could soon undergo a…
Earlier this week, Bitcoin surmounted $12,000 as global markets surged as the U.S. dollar saw a notable collapse. The world’s reserve currency, though, has since reversed, dragging down global markets with it. Like the stock market and precious metals, BTC has recently sustained a heavy correction. The cryptocurrency has plunged around 12% in the past…