Bitcoin price is currently declining below the $8,600 support area against the US Dollar. A new monthly low was formed near $8,457 and the price is currently correcting higher. There is a key declining channel forming with resistance near $8,710 on the hourly chart of the BTC/USD pair (data feed from Kraken). There is a…
The final nail was just put in the coffin of bulls. An indicator that tracks the health of the Bitcoin (BTC) mining ecosystem has just flashed bearish for the first time in a year, signaling impending capitulation. Related Reading: Bitcoin Open Interest May Act as Rocket Fuel for Explosive Bull Movement Bitcoin Miners Ready to…
Ethereum is among the crypto assets still vastly below its former all-time price, with a long way to go before it recovers the lofty prices set back at the height of the crypto hype bubble. According to one crypto trader, Ethereum’s downfall may not be complete, and if the current monthly candle cannot close above…
While many enthusiasts offer a bullish assessment of the future of cryptocurrencies like bitcoin and the ways it can be used to replace or supplement fiat currency, the coins have received mixed reactions from central banks across the globe. Now, former European Central Bank (ECB) president Jean-Claude Trichet has slammed cryptocurrencies — including Facebook’s Libra…
Bitcoin price is trading with a bearish angle below the $8,880 resistance against the US Dollar. The price is likely to continue lower below the $8,640 and $8,600 support levels. There is a short term breakout pattern forming with resistance near $8,740 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…
Bitcoin has once again found itself caught within a bout of consolidation as it ranges sideways above its key near-term support level at $8,700. Despite BTC’s recent sell-off that sent it reeling below $9,000, the cryptocurrency’s bulls have been able to defend this support level, which may be a bullish sign. Although there are analysts…
After a dismal start, interest in Bakkt’s physically-settled Bitcoin futures is finally improving. The Intercontinental Exchange-backed venture has just recorded three consecutive days above $10 million in trading. The figures still lag far behind the 24-hour Bitcoin trading volume reported at other large trading venues. Compared to the volumes reported at Bakkt’s debut in September,…
Bitcoin mining consumes a large amount of energy, and in return for the upfront electricity costs, miners are rewarded with a set amount of BTC for validating each block added to Bitcoin’s blockchain. As the crypto asset’s network grows in size and scale, the more electricity required to power the operation. Bitcoin as a network…
The crypto market first began with the advent of Bitcoin, but in just a decade’s time, thousands upon thousands of alternative crypto assets have been created. Many of these new-age altcoins have performed well for early investors, but the vast majority of crypto assets outside of the top 40 by market cap have little to…
If you’ve been on Crypto Twitter at all, you know of the Bitcoin “HODL” meme. For those living under a rock, here’s a quick explainer: HODL, a misspelling of “hold” first found on the (in)famous BitcoinTalk forum, has become a battle cry for diehard BTC investors, who believe it is irrational to sell the asset.…