Bitcoin price rallied more than 5% to clear the $7,500 resistance against the US Dollar.The price is now trading in a positive zone and it could rise further above $7,700.There is a short term breakout pattern forming with resistance near $7,590 on the hourly chart of the BTC/USD pair (data feed from Kraken).There could be…
While many in the crypto industry focus only on the monetary aspects of Bitcoin, the cryptocurrency and its respective blockchain have a technical side too, a side that isn’t often focused on.John Newbery, a developer at Bitcoin-centric development firm Chaincode Labs, recently broke down where he expects the network’s technical development trajectory to head next.Related…
Statistics show that the Bitcoin price may be on the verge of seeing a red week. No, by red I don’t mean Christmas, I mean a week in which the cryptocurrency falls, potentially to enter back in the range of the $6,000s.Related Reading: Lightning Works: Bitcoin Podcaster Finds Restaurant Shunning Banks for BTCBitcoin Futures’ Imply BTC…
In less than six months’ time, Bitcoin will see an extremely important event. Known as a “halving” or “halvening,” the number of coins issued per block to miners will get cut in half from 12.5 to 6.25, effectively meaning that BTC’s inflation rate will be cut in half in layman’s terms.Related Reading: XRP Could Soon…
There was a nice upward move in bitcoin price from the $6,435 low against the US Dollar.The price is now trading nicely above the $7,000 and $6,960 support levels.There is likely a bullish continuation pattern forming resistance near $7,180 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).The price could decline a…
Over the past few days, Bitcoin has strongly outperformed altcoins, especially Ethereum and XRP. On Wednesday, when BTC was trading 8% down on the week, both ETH and XRP — the second and third-largest cryptocurrencies by market capitalization, respectively — were down nearly 15% since the weekly open, crushed under the pressure of BTC volatility.Related…
Since trading as low as $6,400 this week, Bitcoin (BTC) has seen a strong price recovery, surging as high as $7,300 late last week as bulls managed to defend key levels. In other words, the leading cryptocurrency jumped by nearly $1,000 from the multi-month bottom, making some believe that bulls are back.A top analyst, however,…
Is the bottom in? Since Bitcoin (BTC) fell precipitously to $6,600 late last month, analysts have been asking if the leading cryptocurrency has finally found a price bottom after a multi-month downturn.Related Reading: Eat My Shorts: Everything You Need To Know About The Bitcoin Bart PatternAnalysts have understandably divided over the question, as the correct answer…
Bitcoin’s massive upwards momentum that was first incurred when BTC bounced from its recently established lows of $6,400 has begun showing signs of faltering, as buyers have been unable to maintain the momentum as bears ramp up the selling pressure.It is important to note that one technical indicator is flashing a sign that BTC may…
Since Bitcoin was launched in early 2009, it has been the subject of backlash from many critics. Common criticism includes the age-old argument that “Bitcoin is backed by nothing,” the assertion that the cryptocurrency is “only used by criminals, gamblers, and adult entertainment addicts,” and the belief that the use of the Bitcoin network is…