Bitcoin price is trading in a downtrend below $8,800 and $9,000 against the US Dollar. The price is currently declining and it seems to be struggling near the $8,840 level. Yesterday’s major bearish trend line is active with resistance near $8,920 on the hourly chart of the BTC/USD pair (data feed from Kraken). The bulls…
A state-run newspaper in China has published a front-page story hailing bitcoin as the first successful application of blockchain technology. The praise marks a significant shift in Beijing's stance towards the cryptocurrency and comes as the country prepares to launch its own digital currency. Monday's edition of Xinhua went into detail about how bitcoin and its underlying…
Bitcoin (BTC) has continued inching lower following its recent bearish break below $9,000, which points to the possibility that bears are building strength as bulls fail to propel the crypto while it trades just a hair above its key near-term support level. Analysts are now noting that Bitcoin may soon incur further losses as it…
Representatives of the current financial system are inadvertently extolling the virtues of Bitcoin at a higher frequently than ever before. The latest is Deutsche Bank President Karl von Rohr, who states that current methods intended to stave off economic crisis are lessening in efficacy. Von Rohr describes the current climate for the financial services industry…
The Royal Bank of Canada (RBC) is exploring building a cryptocurrency trading platform for both investments and in-store/online purchases. This move would make the bank — the largest in Canada by market capitalization, with $661 billion CAD ($499 billion) in assets under management — the first in the country to launch a cryptocurrency exchange. The…
All markets – such as Bitcoin – are cyclical and go through stages of peak euphoria before a correction brings investors back down to reality. Eventually, anger and depression kick in, and investors begin to fear the worst before the cycle reaches a low and begins to pick up once again and return to the…
Bitcoin price is declining and it is now trading below the $8,800 level against the US Dollar. The price is trading with a bearish angle and it is likely to tumble below $8,600 and $8,500. Today’s key bearish trend line is active with resistance near $8,960 on the hourly chart of the BTC/USD pair (data…
Bitcoin price is trading in a bearish zone below the $8,880 and $9,000 resistances against the US Dollar. The price is struggling to recover and it is likely to face sellers towards $9,000. Yesterday’s major bearish trend line is intact with resistance near $8,980 on the hourly chart of the BTC/USD pair (data feed from…
After surging towards $9,300 yesterday, Bitcoin’s bulls have once again surrendered to bears, leading BTC to plummet back below its key support level at $9,000. This overnight movement has once again led the cryptocurrency back down to its previous support level at $8,700, and it is showing few signs of having any strength at the…
The Bakkt platform has just announced that it will now allow any institutions to use its Bitcoin custody solution. Previously, only those trading the platform’s Bitcoin futures contracts had access to the Bakkt Warehouse. The news comes as Bakkt futures look on track to set another all-time high. After a rather dismal start to trading…