The common narrative shared over recent months is that Bitcoin is adversely affected by increases in the value of the U.S. dollar. Case in point: when the dollar began to spike in February and March, BTC began to tumble lower, as did the S&P 500 and the price of gold. More recently, when Bitcoin topped…
Bitcoin continued its tumbling on Wednesday under the pressure of a rising US dollar. Safest Haven Returns The cryptocurrency plunged by up to 1.43 percent to hit an intraday low at circa $10,389. Its latest move downside came as a part of a larger bearish correction that began when BTC/USD had formed a year-to-date top…
Several signs indicate that Bitcoin is potentially on the brink of a new bull market, and much higher prices are ahead. However, one seemingly bullish sign that investors are preparing for mark up, is actually at the same level as just prior to the collapse to the cryptocurrency’s bottom. Are looks this deceiving, and Bitcoin…
Bitcoin has been forming a strong correlation to the stock market once again, with this typically occurring during times of global uncertainty. At the moment, traditional investors are consumed with fears regarding the lack of a second domestic stimulus package within the U.S., as well as the lack of progress in reeling in the pandemic.…
YFI has been among the worst-hit tokens in an ongoing meltdown that has wiped $65 billion from the cryptocurrency market. As of 1223 GMT Tuesday, YFI/USD was trading about 47 percent lower from its all-time high at $44,003. The pair’s downside correction followed a major rally that brought it up by more than 2,500 percent…
It has been a rocky past day for Bitcoin, with the benchmark crypto posting massive losses as buyers struggle to garner significant momentum. This selling pressure has sent shockwaves throughout the entire cryptocurrency market, causing altcoins to see massive selloffs that have erased the bulk of their recent gains. One trader is specifically noting that…
Currently, Bitcoin traders are overall net long. But talk of a second wave has memories of March’s flash crash fresh on the mind. Source: blockchainwhispers.com The European Centre for Disease Prevention and Control has issued a stark notice over the rise in infection rates. As a result, throughout Europe, authorities are taking into consideration the…
It is day six and YFI has not stopped falling from its all-time high above $44,000. The Yearn Finance’s governance token remains among the best-performing crypto-assets in 2020, with lifetime gains near 2,000 percent. Nevertheless, its higher-than-expected price has also reduced its bids in the open market. That has resulted in a sharper decline. YFI/USD…
Bitcoin price retested the $10,750 support and recently corrected higher against the US Dollar. BTC must stay above $10,750 to start a fresh increase in the near term. Bitcoin is struggling to gains momentum above the $11,000 and $11,000 resistance levels. The price is currently trading well above the $10,750 support and testing the 100…
Bitcoin has bounced over 10% from the lows set two weeks ago at around $9,800. The cryptocurrency, though, still has a crucial level to move above to confirm that a full-blown bullish reversal is in the works. Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch Bitcoin Needs to Surmount This Pivotal…