A textbook technical scenario brewing inside the bitcoin market could send its prices above $14,000.Crypto analysts highlighted earlier this week the potential formation of an Inverse Head and Shoulder (IHS) pattern. Investopedia defines it counter, which is called Head and Shoulder Pattern, as a “reliable” indicator in predicting an asset’s bullish-to-bearish trend reversals. Therefore, its…
It goes without saying that Bitcoin’s price action over the past few weeks has shaken many digital asset investors in the industry. The crash from $10,000 to $8,400 liquidated dozens of millions worth of leveraged positions, forcing many on the sidelines, data from Skew.com shows.Unfortunately, the cryptocurrency is likely to retest $8,400 once again, a top analyst has…
Although those in the Bitcoin community prides themselves on distancing themselves from the institutions of the old world, cryptocurrency and blockchain are inextricably tied to events taking place in the outside world, so to say.This has been proven true over the past few months with the outbreak of a coronavirus-caused illness, COVID-19, which has since…
Throughout the course of the crypto market’s firm 2020 uptrend, Bitcoin’s steady climb has allowed most major altcoins to post decent gains, although none have come close to competing with those seen by Chainlink and Tezos.These two cryptocurrencies have been able to set fresh all-time highs over the past couple of weeks, and although their…
Bitcoin (BTC) has once again found itself caught within a bout of sideways trading over the past day, which has come close on the heels of the cryptocurrency’s recent breakout rally that propelled it above its resistance around $8,900.One top analyst is now noting that Bitcoin is trading just a hair below a key resistance…
The Federal Reserve’s emergency interest rate cut this week highlighted that the central bank is anticipating the troubled times ahead. Raoul Pai, the CEO of Real Vision Group, says Bitcoin, like gold, is emerging as a worthy hedge against the potential demise of the dollar.Pai also says there is currently a massive effort to entirely…
Could anxious investors treat bitcoin as their safe-haven amidst Coronavirus uncertainty? Yes. But that doesn’t make the cryptocurrency the only fish in the big pond of insurance assets.Investors are now looking beyond the traditional narratives of a safe-haven. They are relying on unique assets to protect their capital. That explains why a soup company’s stock…
India’s central bank wants to restore its crypto trading ban in the country, according to sources cited by Economic Times.The regional media house reported earlier Friday that the Reserve Bank of India is preparing to file a review petition in the Supreme Court against a ruling that effectively unbanned cryptocurrency trading in the country. RBI…
Bitcoin holds above a key support level of $9,000 amidst growing demand for safe-haven assets.The cryptocurrency is eyeing a break above $9,500 to confirm a medium-term bullish bias.Rising cases of Coronavirus in the US has led investors to withdraw from equities this week. Gold and bonds have inched higher, meanwhile.The last couple of weeks saw…
Bitcoin finally managed to clear the $9,000 resistance zone against the US Dollar. BTC price must stay above the $8,950 and $8,860 support levels to continue higher in the near term.Bitcoin is trading in a positive zone above the $8,950 and $9,000 levels against the US Dollar.The price traded as high as $9,172 and it…