Latest Bitcoin News After a damaging fall from Dec 2017 peaks, Bitcoin bulls are well positioned to recover and print above Nov 2018 highs all because of changing sentiments and bullish candlestick formation of the last three days. On the fundamental front, long-term Bitcoin bear and former International Monetary Fund economist, Mark Dow has closed…
Spot bitcoin fell 1.45 percent to $9,501 as of 0900 UTC as the U.S. dollar rebounded from its seven-day plunge.The cryptocurrency’s downside move surfaced ahead of a fresh U.S. trade and unemployment data release at 0830 ET on Thursday.The U.S. stock market, which remains positively correlated to bitcoin, also dived as investors booked short-term profits.Bitcoin…
Bitcoin fell to its three-week low as investors’ concerns about the fast-spreading Coronavirus continued to hurt global market sentiment.The benchmark cryptocurrency was trading at $9,081 during the early morning trade in Europe, down by up to 2.41 percent. The move downside extended bitcoin’s weekly losses to 8.87 percent, confirming that its medium-term bullish sentiment took…
Bitcoin’s latest bearish correction is threatening to break below a crucial support level known as the 50-weekly moving average.The cryptocurrency’s two out of three breaks below the said technical floor resulted in more than 50 percent price crash.That puts bitcoin under the risks of falling towards $6,000 in the medium-term.A historically accurate technical indicator is…
American banking giant JP Morgan Chase has accepted two clients involved in the emerging bitcoin sector.U.S. cryptocurrency exchanges Coinbase and Gemini received account approvals after a long wait, according to the Wall Street Journal.The news came just less than 24 hours after Bitcoin underwent a massively hyped “halving” upgrade.JP Morgan Chase will offer its banking…
Bitcoin traded higher on Tuesday following a severe sell-off that saw its prices plunge by circa $900 at the start of this week.The benchmark cryptocurrency jumped to intraday high of $5,466 from its weekly low, up 23.34 percent as traders hunted for short-term profits. The move upside quickly followed a weak pullback into the European…
A textbook technical scenario brewing inside the bitcoin market could send its prices above $14,000.Crypto analysts highlighted earlier this week the potential formation of an Inverse Head and Shoulder (IHS) pattern. Investopedia defines it counter, which is called Head and Shoulder Pattern, as a “reliable” indicator in predicting an asset’s bullish-to-bearish trend reversals. Therefore, its…
Bitcoin is trading almost 12 percent below from its local top near $10,400, but a historically accurate technical indicator hints a trend reversal.The pattern formed on Monday as the short-term moving average of Bitcoin’s hash rate jumped over the long-term moving average, signaling the beginning of a buying setup.Its previous two formations over the last…
Following Black Thursday, Bitcoin was on a tear, gaining 50% since that fateful day. BTC was trading at $7.3k, but a rejection at the 50-day moving average, coupled with falling volume, indicated a trend reversal.Bitcoin daily chart with 50-day & 200-day MA and volume. (Source: tradingview.com)Not only that, but the failure to break $7.4k suggested…
Hedge funds with exposure in the Bitcoin market have returned better year-to-date yields than their traditional peers, according to researchers at HFR.A rally in April 2020 lifted crypto hedge fund YTD profits to 13.4 percent, while a wider hedge fund industry suffered losses.Meanwhile, the Embark Group’s Peter Toogood warned that many fund managers are not…