One of the many beauties of Bitcoin is that the blockchain backing it is simultaneously pseudonymous and transparent, meaning that you can look into, say, the number of BTC in existence but not know who (or what) owns coins. The pseudo-transparency exhibited by Bitcoin has created an industry and art around “chain analysis,” which gives…
Earlier today, NewsBTC reported that CryptoThies, a popular analyst, noted that the Chaikin Money Flow (CMF) for Bitcoin was trending positive. The CMF, an oscillating indicator that is derived from the MACD to signal market strength, suggested that “smart money is just now flowing into the market and is trending upwards,” indicating that the cryptocurrency…
Bitcoin price is struggling to hold a couple of important supports near $7,200 against the US Dollar. The price is likely to continue lower below the $7,200 and $7,000 support levels. There is a major bearish trend line forming with resistance near $7,390 on the hourly chart of the BTC/USD pair (data feed from Kraken).…
As Bitcoin (BTC) has floundered over the past few months, falling by 50% from $14,000 to $7,300, American equities have been performing rather well. Earlier this week, the S&P 500 set an all-time high at 3,150, and the index has gained some 25% in the past year alone — likely one of the strongest years…
For some reason or another, bearish sentiment has swept the Bitcoin market; now, you have countless cryptocurrency investors calling for another 80% decline in the market capitalization of digital assets. Despite this harrowing sentiment, an analyst has asserted that the proverbial crypto ball remains in favor of the bulls from a long-term perspective. Popular analyst…
Bitcoin’s bulls and bears have been engaged in a heated battle over the past several days and weeks, with BTC’s latest bout of volatility being a sharp downtrend that followed its recent attempt to surge past $8,000. Analysts are now noting that they anticipate Bitcoin to see further gains in the near-term, with this notion…
After hitting $6,600, Bitcoin (BTC) saw a strong price bounce, returning to $7,800 just yesterday. Though, analysts have asserted that the cryptocurrency market remains in a weak state, despite the nearly 20% recovery that has been seen over the past week. Related Reading: Dr. Doom: Ethereum Still a Long Way From $0, Its True “Fundamental Value”…
After a decent recovery, bitcoin price faced resistance near the $7,880 level against the US Dollar. The price is currently correcting gains and it is trading near the $7,300 support area. There is a crucial bearish trend line forming with resistance near $7,678 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).…
Bitcoin’s precipitous drop to $6,600 seen earlier this month caught many traders aback; nearly no one, not even the top traders and analysts, expected for that price action to play out as it did in real life. Few predicted the subsequent bounce to $7,800, where BTC sits as of the time of writing this, too.…
After hitting $6,600, Bitcoin (BTC) saw a strong price bounce, returning to $7,800 just yesterday. This marked an increase of nearly 20% from the bottom, making some convinced that the bottom is in. Though, over the past 12 hours, the cryptocurrency has started to slip once again, eliciting bearish responses from an array of industry…