Bitcoin hasn’t fared too well over the past week; after hitting $10,000 last weekend, the price of the leading cryptocurrency fell, tumbling from that key psychological resistance to a price as low as $8,450 (TradingView data) — a drop of 15%.While there are a number of analysts hinting that this retracement is a precursor to…
Could the coronavirus be helping to drive the current price rally in Bitcoin? The CEO of InvestorsHub.com certainly thinks so.Clem Chambers makes the case that the virus’s outbreak has made safe haven assets more desirable. For him, Bitcoin trumps gold thanks to its portability and convertibility.Is Virus Behind BTC’s 2020 Gains?The notion of Bitcoin as…
Bitcoin price this week made a strong push above the important psychological resistance level of $10,000 but failed to hold it as support.While the cryptocurrency fell back below after a strong rejection and flash crash, two bullish factors are pointing to a revisit to above $10,000 in the very near term.Bitcoin Price Forms Bullish Wedge,…
This year kicked off with BTC price gains that recently saw the leading digital asset cross $10,000 once again. However, with Bitcoin dipping below five figures today, some are once again calling for the price to return to below the current yearly lows or perhaps even lower.Disagreeing entirely is the author of one of the…
Bitcoin price has been on an absolute tear over the last 24 hours, rallying from lows around $8,000 to as high now as $8700, giving bullish crypto traders confidence that a near-term bottom is in, and more upside could be in the days ahead.However, before bulls could celebrate a clean break of downtrend resistance, the…
Today’s mid-week daily close in Bitcoin price charts carries significantly more weight than usual, as New Year’s Eve marks the last day of the calendar year, and the crypto asset’s yearly candle close.If the leading crypto asset by market cap closes today at current prices around $7,250, the yearly candle will close with the largest…
The consolidation for the entire month of December has continued for Bitcoin as it holds above key support. If the next moves down are similar to the previous ones however it could soon be as low as $5,000 according to one analyst.Bitcoin Consolidation ContinuesFor another day BTC has held above $7,000 as its sideways trading…
There are plenty of metrics and models used to anticipate the future price of Bitcoin. A popular one is stock to flow ratio but one Bloomberg host has called it nonsense adding that coin supply has little effect on BTC prices.Bitcoin S2F Prediction Model ‘Nonsense’According to economics reference materials, stock to flow is defined as…
Late weekend trading has resulted in another minor rally for Bitcoin which has just reached resistance at a two week high. Sentiment among traders and analysts has flipped bullish again as hopes of a ‘Santa rally’ return to crypto land.Bitcoin Adds Six PercentThe weekend has been a positive one for Bitcoin with another push upwards…
Bitcoin is leading crypto markets back into the green again today but they have a long way to go before anything can be considered ‘healthy’. The 14% bounce could simply be a bull trap or BTC may finally have been at the bottom and readying for another run.Bitcoin Bounces BackThis week has been pretty grim…