Bitcoin’s recent consolidation has thrown most investors for a loop: the majority aren’t too sure what comes next for the cryptocurrency market.Some, though, have made progress in discussing the recent price action. One analyst observed that stepping back and looking at BTC’s medium-term price action, the past three months look extremely structurally similar to a…
Bitcoin’s recent consolidation has left analysts and investors alike largely puzzled as to what comes next.Nothing is a better sign of this than the funding rates of BTC futures markets, which are converging towards 0.00%. This shows that both the long and short side of the market is not overvalued.An analyst has suggested that a…
It’s been an explosive past few months for Bitcoin, equities, and other global markets.After a liquidation event in March that sent cryptocurrencies down by over 50% and other asset classes down almost as much, a bounce has ensued that has largely deleted the losses of March.BTC now trades for $9,400, up by approximately 30% since…
With Bitcoin failing to break past the highs it established earlier this year, there have been some commentators seriously considering a steep correction.Ross Ulbricht, the founder of the Silk Road and one of the cryptocurrency’s earliest adopters, postulated that there’s a serious chance Bitcoin could revisit the $3,000s and maybe even lower. Ulbricht cited Elliot…
Due to a widespread recovery in risk assets, Bitcoin and its altcoin counterparts have recovered all the losses they have incurred in March. From the March lows of $3,700, in fact, Bitcoin is up by over 150%.Yet with BTC finally stalling in the $9,000s, analysts see a confluence of tell-tale signs that a further bearish…
The past few days have seen Bitcoin stagnate into a tight range between $9,300 and $9,500. This is part of a wider two-month consolidation that has seen BTC’s price action tighten under the crucial $10,000 resistance.The cryptocurrency market has been so “boring” that as NewsBTC reported previously, volatility is heading towards lows not seen since…
Despite Bitcoin bouncing at $9,000, analysts remain bearish on the leading cryptocurrency as the asset fails to recover crucial support levels.Related Reading: Last Time Bitcoin Saw This Structure, It Surged 40%. It’s About to Happen AgainBitcoin Prints Series of Bearish Signs Suggesting An Imminent CorrectionAn analyst recently remarked that if Bitcoin doesn’t bounce from here, a…
For the umpteenth time this month, Bitcoin failed to hold above the $10,000 resistance on June 10th. Prominent investors in the cryptocurrency space, however, remain bullish on BTC due to a confluence of macroeconomic factors.They say that in 2020, there’s a high likelihood Bitcoin revisits its all-time high price of $20,000.A rally to $20,000 would…
Earlier this week, Bitcoin sustained a heavy drop.The cryptocurrency, just 24 hours after attempting a $10,000 break, plunged nearly $1,000 in the span of 12 hours. The move brought the cryptocurrency from around $10,030 to $9,050.Analysts are divided over what technical damage the drop caused.Some say that it is to be expected, calling the drop…
Bitcoin has failed multiple attempts at breaking past $10,500 over recent weeks, yet analysts say that the cryptocurrency is still on track to erupt into a new bull run in the coming months.Related Reading: Over a Dozen Top Crypto Assets Are Up Over 10% Today: Here’s WhyBitcoin Charts Signal a Start to Another Bull RunA…