Last week, Bitcoin (BTC) plunged like a stone in water, falling through the $10,000, $9,800, and $9,500 price supports in rapid succession. But on Monday — Labor day for the U.S. and Canada — the cryptocurrency mounted a strong recovery, surging by 7% on the day. Related Reading: Buy Bitcoin: Legendary Hedge Fund Manager Bashes…
Bitcoin price surged higher and broke the main $10,000 and $10,200 resistances against the US Dollar. The price is currently consolidating below the next key resistance at $10,500-$10,525. This week’s followed key bearish trend line was breached with resistance near $9,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price…
This weekend, Bitcoin price closed its second consecutive monthly red candle in a row, as bulls failed to push the price of the leading crypto asset by market cap through resistance to retest its recent local high. And while bulls have since given it another go and the current September monthly is currently a green…
Crypto investors, traders, and analysts alike are mostly in agreement that Bitcoin price has switched to bull market mode ever since the crypto asset left its bear market bottom behind. But now that Bitcoin price has been correcting in recent weeks, the market has become bearish and fearful that a deeper correction will soon be…
Bitcoin bulls are back — that’s right. In the past few hours, the cryptocurrency has been regaining its upward momentum once again, finally showing some bullish price action following the Friday close of the CME’s August BTC futures contracts. Related Reading: 1,000 Bitcoin Buy Wall May Bolster Bull’s Attempt to Push BTC to $10,000 This…
News surrounding the imminent launch of Facebook’s cryptocurrency – dubbed Libra – captivated the world earlier this Summer, and although the hype surrounding the project has largely worn off, many analysts still view it as a catalyst for greater widespread adoption of crypto. Although Libra was met with praise by many, it certainly has its…
Bitcoin posted modest gains in its September debut as the US introduced additional tariffs of 15 percent on $112 billion of Chinese goods. Bitcoin trending higher gradually | Image Credits: TradingView.com The benchmark cryptocurrency added 0.20 percent to trade at $9,800 in early Monday morning, bringing its local net rebound up by as much as 5.8…
Despite the drawdown in the price of Bitcoin (BTC) — which some analysts say would result in a change of tides for altcoins — BTC dominance continues to tick higher. As of the time of writing this, the key market metric is approaching 70% for the first time in years, implying that once again, almost…
When a government decides to restrict what people can do with their own money, there is usually some backlash. Argentina is doing exactly that to prevent capital flight as the local currency crashes. The move is likely to encourage more people to use Bitcoin to circumvent the restrictions as they have done in other nations.…
The value proposition of Bitcoin has long been questioned by its cynics. Unlike traditional assets, the cryptocurrency doesn’t generate cash flow, pay out dividends, produce a fixed yield, or have a maturity date. And unlike recognized forms of money, Bitcoin isn’t backed by the power of a government or some asset, like gold. But, Bitcoin’s…