11 years after Satoshi Nakamoto launched Bitcoin, some facets of the U.S. government have finally indicated that they are seriously considering the creation of a digital dollar, a move that many say could validate cryptocurrencies, especially BTC.Digital Dollar?According to a Bloomberg Law report released Monday, Democrats in the House of Representatives are seriously considering the…
Bitcoin has been firmly acting as a risk-on asset over the past several weeks, with its price closely tracking the movements seen by the U.S. stock markets. This has invalidated its status as a safe haven asset and has made the benchmark crypto prone to seeing massive near-term downside.Although BTC has been moving in tandem…
What a crazy day it’s been for markets thus far. Bitcoin, after falling as low as $5,700 during Sunday’s retracement, rallied as high as $6,650 on Monday morning on the back of news from the Federal Reserve.While a portion of this move has been retraced, with Bitcoin now trading at $6,400 as of the time…
The cryptocurrency market has been in shambles ever since the coronavirus outbreak reached critical levels, however, the panic has been positive for the growth of stablecoins, which have grown by billions in market cap since the selloff first began a month ago.Stablecoins Provide the Only Flight to Safety Amidst Coronavirus CrisisThe cryptocurrency market, like the…
Bitcoin surged by almost 11 percent minutes after the US central bank committed to unlimited purchasing of US Treasuries mortgage-backed securities to help its struggling economy amidst Coronavirus pandemic.“The Federal Reserve is committed to using its full range of tools to support households, businesses, and the US economy overall in this challenging time,” the bank…
Bitcoin is down more than 5% and it broke the $6,000 support against the US Dollar. BTC price is now showing bearish signs and it could continue to move down.Bitcoin started a fresh decline after it failed to clear the $6,500 resistance against the US Dollar.The price is now trading below the $6,200 and $6,000…
Over the past few days, Bitcoin has held $6,000 time and time again, managing to close 20 four-hour candles about this psychological level in succession. But, the cryptocurrency just an hour ago closed a four-hour candle beneath this support, cementing BTC’s reversal from $7,000.Related Reading: Bitcoin Bulls Roar as U.S. Politician Proposes ‘Two $1 Trillion…
Bitcoin has held surprisingly well over the past hour, despite global markets opening dramatically lower (by traditional standards) than they were during Friday’s close. In fact, the futures for the S&P 500 and the Dow Jones have all hit their limit down (circuit breaker) of 5%, with the former reaching 2,174 and the atter falling…
Bitcoin has once again found itself caught firmly within a bout of sideways trading in the lower-$6,000 region, which comes close on the heels of the benchmark cryptocurrency’s recent rally up to highs of $6,900.This consolidation is highly likely to result in a massive movement in the near-term, leading some prominent traders to note that…
Bitcoin bulls were quite pleased on Saturday morning when Bloomberg’s Joe Weisenthal shared the “Automatic BOOST to Communities Act” published by Congresswoman Rashida Tlaib of Michigan.While all politicians in the U.S. have responded to the coronavirus outbreak by proposing stimulus, Tlaib’s took the cake for being extreme. The program she proposed, which included a temporary…