Bitcoin is looking to repeat a technical pattern that crashed its price to $3,120 in late 2018.The leading cryptocurrency by valuation made a rebound from levels near $13,920 during June 2019. It plunged by more than 53 percent in the later sessions, falling to establish a local bottom towards $6,410. Entering January 2020, an upside…
Out of more than 5,000 high and small-cap crypto assets, only three have displayed close to zero correlation with bitcoin.A Binance Research report published earlier Wednesday named ATOM as the cryptocurrency that is least concern with the price movements of bitcoin. The Cosmos blockchain’s staking token has a median annual coefficient of 0.31, which indicates…
Over the past month, Bitcoin (BTC) has absolutely exploded higher. In fact, the cryptocurrency is up around 40% since the low of $6,400 put in during December of last year.While many analysts have said that this jaw-dropping rally constitutes a macro reversal that will thrust BTC back into a decisively bullish phase, some aren’t so…
Bitcoin reversed after a sharp dip towards the $8,400 support area against the US Dollar. BTC price is now signaling more upsides above $8,800 and $9,000 in the coming sessions.Bitcoin price bounced sharply and formed a bullish engulfing pattern above $8,550 against the US Dollar.The bulls are likely to take control once the price surpasses…
2019 was marked by some of the world’s most powerful people talking about Bitcoin in public settings.President Donald Trump said in a surprise Twitter thread that cryptocurrencies, from BTC to Libra, are no something he is a fan of, citing their potential to be used in crime. Tesla’s Elon Musk said in a podcast that…
For almost its entire existence, Bitcoin mining has been dominated by Chinese companies. Most of the world’s largest mining pools, chip manufacturers, and the ASIC operators themselves call the country home.Wanting to see that change is Brandon Arvanaghi of US mining company Layer1. He goes as far to say that the United States providing hashing…
Last week’s explosion in growth across Bitcoin and the altcoin market caused the total cryptocurrency market cap to all break above the 200-day moving average – an important level that smart money often trades based on. However, Bitcoin has failed to hold above the same moving average and may have dragged the total crypto market…
While Bitcoin’s recent downtrend saw the leading crypto asset by market cap’s value slashed in half from the local peak of $14,000, those that traded Bitcoin’s recent downtrend buying one specific trendline and selling another each time the asset made a touch would have resulted in a massive increase in BTC held, and overall USD…
Whales on the world’s largest bitcoin margin trading platform BitMEX are selling large amounts of BTC. After the rejection at $9,200, investors are seemingly moving towards hedging their holdings to brace for a bigger pullback.According to a platform that reports unusually sizable sell orders on BitMEX, many whales sold millions of dollars worth bitcoin in…
Bitcoin is currently consolidating above the key $8,500 support area against the US Dollar. BTC price could start a fresh rally if it clears the $8,800 resistance area.Bitcoin price is confined in a range above the main $8,500 support against the US Dollar.The bulls are facing hurdles near the $8,760 and $8,800 resistance levels.There is…