Bitcoin price extended its decline and broke the key $8,000 support area against the US Dollar. The price is likely to test the main weekly bearish target of $7,500 in the coming sessions. There was a bearish break below a contracting triangle with support near $8,350 on the hourly chart of the BTC/USD pair (data…
With trade talks between the US and China resuming next month all eyes are on the prospect of some kind of a deal. Not all are confident however and one industry executive still favors Bitcoin over any kind of economic recovery based on bilateral cooperation between the two powerhouses. China Won’t Back Down Founder and…
Bitcoin price is once again falling, and already there are extremely bearish price targets ranging from former bear market support at $6,000, to under $5,000, to a double bottom, and potentially all the way down at $1,000 per BTC. When the market gets this exuberant, it’s often the time for reversal, much like the calls…
Earlier today, news broke that the central bank of Venezula is in tests to see whether it would be advantageous for the institution to hold cryptocurrency reserves. The nation’s state-run oil company is also apparently attempting to send Bitcoin (BTC) and Ether (ETH) to pay suppliers via the central bank. Naturally, many commentators have celebrated…
The US Securities and Exchange Commission (SEC) is right about their decision to reject bitcoin exchange-traded funds, believes Jake Chervinsky of San Francisco-based Compound Finance. The general counsel on Thursday said the US securities regulator has valid concerns about bitcoin’s price volatility. He referred to the cryptocurrency’s latest price drop, wherein it plunged by as…
Bitcoin was trading in the negative zone on Thursday as US President Donald Trump raised hopes for a potential trade deal with China. The benchmark cryptocurrency plunged another 0.34 percent to $8,408.01 on San Francisco-based Coinbase exchange. Earlier this week, it had experienced a massive sell-off that sent the price down by more than $1,500…
Bears are back. After a multi-month long consolidation period, Bitcoin (BTC) finally broke down earlier this week, quickly losing all semblance of a bull trend in a spectacular fashion. For those who missed the memo, within a few hours’ time, the leading cryptocurrency had fallen from five digits — $10,000 — to $8,000, losing the…
This week’s monumental market crash has resulted in Bitcoin dumping 20 percent in just a couple of days. Technical indicators are now showing that a trend reversal could be imminent and the end of the 2019 bull market may have just begun. Bitcoin Bull Market Over? Bitcoin could only manage a feeble climb to $8,640…
Yesterday, the leading crypto asset by market cap, Bitcoin, broke down from its multi-month trading range, crashing over 15% and dragging already battered altcoins like XRP and Ethereum down further with it. The fallout was enough to not only completely erase the most recent “alt season” gains XRP and Ethereum experienced, but it also caused…
After trading in a triangle formation for the second half of 2019 thus far, Bitcoin price finally broke down in a violent plunge that eliminated as much as 15% from Bitcoin’s value. While the drop has turned many bulls to bears, and sent a ripple of fear and panic throughout the market, according to one…