Although there are many investors anticipating Bitcoin will fall once again, citing the global uncertainty that is epitomized by the Dow Jones’ record 3,000-point loss on Monday, there are some reasons to believe the cryptocurrency may soon mount a recovery.Related Reading: Crypto Tidbits: Bitcoin Plunges 50%, COVID-19 Cases at Ethereum Event, Central Banks Inject Billions3…
Bitcoin is in big trouble after a historic selloff, and the world may be facing its gravest situation yet in the face of a global pandemic and recession.With Bitcoin designed to withstand a recession and having certain attributes that make it immune to the current challenges, the world is facing, will the first-ever cryptocurrency’s true…
For most of Bitcoin’s life, it’s been a pitched as an asset uncorrelated from the stock market and other traditional equities. It’s been a strong selling point for institutional investors seeking to add variety or even derisk their portfolios.However, as of late, the first-ever cryptocurrency has been exhibiting a minute-by-minute correlation with the stock market,…
Bitcoin believers waited for a global economic crisis for years, hoping it would prompt investors to inject hundreds of billions of dollars into the cryptocurrency’s small, illiquid market. But the narrative failed big time as bitcoin came face to face with a real market-crisis-in-making, led by the Coronavirus pandemic.The bitcoin-to-dollar exchange rate fell by more…
Bitcoin traded higher on Tuesday following a severe sell-off that saw its prices plunge by circa $900 at the start of this week.The benchmark cryptocurrency jumped to intraday high of $5,466 from its weekly low, up 23.34 percent as traders hunted for short-term profits. The move upside quickly followed a weak pullback into the European…
Bitcoin is currently rising and showing positive signs from the $4,350 swing low against the US Dollar. BTC price is likely to accelerate higher towards $6,000 if it settles above the 100 hourly SMA.Bitcoin is recovering nicely from the $4,350 and $4,500 support levels against the US Dollar.It is back above the $5,000 level and…
Bitcoin recently experienced a historic single-day drop, taking the cryptocurrency from $7,500 to under $4,000 in less than 48 hours.The first-ever cryptocurrency is now trading below the cost required by miners to produce each Bitcoin. Now that miners are better off buying BTC outright, what could this mean for the strength of the underlying network,…
Amidst an economic crisis, precious metals like gold and silver often act as a safe haven for capital, while other assets fall in value.However, growing concerns over the coronavirus and a possible recession in the near future have created such hysteria and panic, that not even silver, gold, platinum, palladium and other precious metals are…
Bitcoin has once again found itself caught within the throes of an immense selloff, with the benchmark cryptocurrency plummeting below $5,000 earlier this morning in tandem with the decline seen by the U.S. stock market.This overtly bearish decline appears to have led to the formation of a new trading range, with some traders noting that…
Unfortunately, it isn’t getting any better for Bitcoin investors after last week’s grueling crash. Over the past 60-odd minutes, after holding at $5,300 for hours on end, BTC has slid under $5,000 yet again, breaching this key price point for the first time since Friday’s capitulation event.Bitcoin’s weakness comes as global equity markets have continued…