Despite the retracement since Friday’s $6,900 top, Bitcoin remains decisively higher than it was three days ago, when it was wallowing in the low-$5,000s as investors feared a deeper crash. According to a prominent cryptocurrency trader, a trend has appeared on BitMEX’s futures market that suggests bulls remain in control.BitMEX’s Funding Rate Signals Good Things For…
Bitcoin has been fairly unpredictable over the past few months.In December, when the cryptocurrency fell under $7,000, a majority of analysts were expecting a retracement to the $5,000s, citing the existence of the ever-important 200-week moving average. And at the top near $10,000 established in mid-February, half of Crypto Twitter was convinced BTC was set…
The Dow Jones Industrial Average closed out Friday’s trading session at 19,000 points, setting a record for the 4th largest single one-month red sell candle in the index’s history. And with Bitcoin recently tightly correlated with the stock market, it could make the cryptocurrency especially vulnerable to another crash.Dow Jones Industrial Average Sets Record for…
Last week, Bitcoin plummeted from $7,500 to $3,800 at the extreme point of the low, as a result of a coronavirus panic-induced selloff combined with a liquidity crisis and potential DDoS attack on BitMEX that created a cascade of liquidations driving the price of Bitcoin down at a rapid rate.But rather than clean up their…
Bitcoin has seen a notable upswing today that has marked a significant extension of the momentum that was first incurred yesterday when the benchmark cryptocurrency rallied from lows of $5,100 after being caught within a bout of sideways trading for an extended period of time.Analysts are now noting that this ongoing rally is not being…
Bitcoin and the rest of the crypto market – even traditional equities markets and precious metals – have been suffering through one of the worst selloffs the world has ever seen in the face of a global pandemic.However, while the stock market has barely gained back any of the recent losses from last week’s collapse,…
Bitcoin is up more than 15% and it broke the $6,000 resistance against the US Dollar. However, BTC price is now facing a huge barrier near the $6,400 and $6,500 levels.Bitcoin managed to rise above the $5,800 and $6,000 resistance levels against the US Dollar.The price is up more than 15% and it is now…
Bitcoin saw some intense upwards momentum today that allowed it to rally into the $6,000 region, with this upswing coming about after an extended period of sideways trading around $5,000.This movement came independent of the U.S. stock market – which has been firmly guiding BTC over the past several weeks – leading some to believe…
Bitcoin is a unique asset unlike anything else in the financial world. Much of its value is derived from its underlying blockchain protocol, powered by miners through a process called proof-of-work.However, the first-ever cryptocurrency’s hash rate is dropping faster than its price, indicating that the miners powering Bitcoin have begun to shut down their operations…
Ethereum started off 2020 as bullish as can be, outperforming BTC and other crypto assets by a large margin.The top altcoin in the crypto market may soon make a massive 95% move against Bitcoin, according to one analyst, but the direction of that move is still up in the air, although they’re leaning heavily toward…