Last weekend, Bitcoin (BTC) saw a historic move: in under 24 hours, the leading cryptocurrency shot higher by 42%, finding itself trading at $10,500 after falling as low as $7,300. This marked Bitcoin’s fourth-largest daily move in its history, and the largest move upward since 2011. Crazy, right? This move was undeniably bullish. However, not…
Bitcoin price is currently consolidating above the key $9,000 support area against the US Dollar. The price is struggling to gain bullish momentum above the $9,600 and $9,720 resistance levels. There is a connecting bearish trend line forming with resistance near $9,560 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…
Late last week the Chinese President offered widely publicized comments regarding his intentions to make China a global leader in blockchain technology, which was met with mixed reactions from investors, with some analysts noting that it was the catalyst behind the recent rallys incurred by Bitcoin and altcoins alike. These comments were particularly impactful to…
Peter Schiff has refuted the notion that the Chinese government endorsement of blockchain is behind Bitcoin’s recent price rally. The price of the leading digital asset surged on Friday to a high above $10,000 on some exchanges before returning to around $9,400 at the time of writing. Schiff instead claims that so-called whales (large holders…
Bitcoin has been incurring significant volatility over the past several days, which has mostly favored the cryptocurrency’s bulls as BTC has been able to run from lows of $7,300 to highs of $10,600 before settling in the middle of this wide trading range. Analysts are now noting that they believe Bitcoin will drop lower in…
The price of bitcoin has levelled off following wild market swings over the last few days, though experts predict more volatility for the cryptocurrency. It is currently trading at around $9,300 (£7,200), having dropped below $7,500 last week amid questions over Facebook’s Libra cryptocurrency project and reports that quantum computers could pose a threat to…
Hong Kong investors increased their exposure in a blockchain firm after China’s premier Xi Jinping endorsed the technology in his Friday speech. The stock value of Pantronics Holdings Limited (1611:HK), a Hong Kong-based electronic product manufacturing firm, climbed by up to 67.10 percent on Monday. The company did not display any concrete fundamentals that could…
China’s President Xi Jinping’s endorsement of the blockchain technology sent bitcoin up by more than 40 percent. The benchmark cryptocurrency established a new session high of $10,540.49 after rising by $3,109 over the weekend. The surplus gains came after a depressive performance last week, wherein bitcoin price shed as much as 17.33 percent, or $1,529.96.…
The recent Bitcoin (BTC) jump from $7,300 to $9,700 has renewed bullish expectations. Just three days ago, you had analysts calling for a return to the $3,000 lows — gold bug Peter Schiff even noted that $2,000 was in the cards; now, all eyes are on new all-time highs for Bitcoin. Related Reading: Crypto SIM Hack:…
On Friday, China’s leader, President Xi Jinping, absolutely floored the Bitcoin community. Speaking at a meeting of the Political Bureau of the Chinese Communist Party’s Central Committee, Xi called for the adoption of blockchain “as an important breakthrough for independent innovation of core technologies.” State-run outlet Xinhua revealed that Xi lauded the potential benefits of blockchain technologies…