Earlier this month, the one-week Bitcoin chart printed an extremely bullish sign: the golden cross of the 50-week and 100-week simple moving averages, with the former crossing above the latter. (As an aside, a golden cross is when a short-term moving average crosses over a long-term one to imply bulls have control.)Related Reading: Bitcoin Poised to Collapse…
Bitcoin’s bulls were able to defend BTC from facing a much steeper sell-off today, which comes closely on the heels of the recent rejection the cryptocurrency experienced, which to many investors signaled that significantly further losses were imminent.Analysts are now explaining that bull’s ability to defend against further losses points to the possibility that the…
At the heights of last year’s so-called “hash war,” Bitcoin SV founder Craig Wright had threatened to crash rival cryptocurrency bitcoin to $1,000.The threat itself came from the claim that Mr. Wright is Satoshi Nakamoto, the pseudonymous creator of bitcoin – and that he holds billions of dollars worth of the benchmark cryptocurrency. Mr. Wright…
Offbeat asset bitcoin is having a difficult time attracting investors during this Christmas holiday.The benchmark cryptocurrency, which is still up by more than 100 percent on a year-to-date (YTD) scale, plunged by up to 8.27 percent this week. On Friday, bitcoin established a fresh weekly low of $7,053.32. At its highest, it was trading at…
Bitcoin price spiked towards $7,400, but it failed to retain strength against the US Dollar.The bulls need to protect the $7,120 and $7,000 support levels in the near term.There is a major bearish trend line active with resistance near $7,360 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair could spike…
Bitcoin has incurred multiple bouts of bullishness over the past several days and weeks, with each rally resulting in a strong rejection that leads the cryptocurrency to fully retrace its gains. This pattern occurred again today, when BTC surged to highs of nearly $7,500 before incurring a strong and swift rejection.This rejection may have opened…
Earlier this year, in late-September, prominent Bitcoin analyst FilbFilb posted this chart below, showing that he expects for BTC to jump by dozens of percent to near $10,000, then collapse to the low-$6,000s to interact with the “miners bottom range.”While some laughed this off as pure bearish sentiment at the time, FilbFilb’s prediction was proven…
As NewsBTC has covered over the past few weeks, a debate has erupted around Bitcoin’s impending block reward reduction. Informally known as the “halving” or the “halvening,” every four years the number of BTC issued per block (every 10 minutes or so) gets cut in half, resulting in a negative supply shock on the market.Analysts…
In less than six months’ time, Bitcoin will see an extremely important event. Known as a “halving” or “halvening” — depending on who you ask — the number of BTC issued per block (every 10 minutes or so) will get cut in half from 12.5 to 6.25, effectively meaning that BTC’s inflation rate will be…
The consolidation for the entire month of December has continued for Bitcoin as it holds above key support. If the next moves down are similar to the previous ones however it could soon be as low as $5,000 according to one analyst.Bitcoin Consolidation ContinuesFor another day BTC has held above $7,000 as its sideways trading…