Bears wreak havoc in the crypto market and major coins bleed out in the lower and higher timeframes. Bitcoin (BTC) is on a downtrend with a 9% correction over the past day and 20.9% in the 7-day chart. With a market cap below $1 trillion for the first since February, the price action seems to…
Bitcoin price is now below $50,000 for the first time in a month, and despite the still-high prices the market is in a panic. There’s now widespread fear that the current market cycle has peaked and things will soon fall back into a bear phase. At the same time, there’s a looming bubble about to…
Bitcoin price is trading in a range below the $57,500 resistance against the US Dollar. BTC is likely to start a major decline if there is a clear break below the $53,500 support zone. Bitcoin is struggling to gain momentum above the $56,000 and $56,500 levels. The price is now trading well below $56,500 and…
On April 15, a widespread power outage in North China led to a sharp decline in the Bitcoin hash rate. Because major mining farms are located in China, there was a 20% corresponding decline in hash rate. The China Hash Rate Crash Of 2021 As a result of the decline in hash rate, backlog in…
Months ago when Bitcoin price made it through $13,000 top analysts said “the train has left the station,” and they were right. Or maybe a rocketship would have been a better analogy. The cryptocurrency took off and has yet to refuel, until now. With momentum waning, bears have staged an “island reversal” that could push…
Bitcoin price is holding the $55,000 support zone against the US Dollar. BTC must clear the $57,000 resistance and the 100 hourly SMA to move into a positive zone. Bitcoin is somehow holding the $55,000 and $54,500 support levels. The price is now facing a strong resistance near $57,500 and the 100 hourly simple moving…
After a record weekend liquidation, Bitcoin price bounced back above $57,000 – gaining back approximately $3,000. At 14:21 GMT on Monday, the price of the coin was trading at $56,367, at a gain of 2.32% in the last 24 hours. The Sunday fall saw about $9.79 billion bleed out of long positions getting “rekt,” making…
Bitcoin price struggled to recover above $57,500 against the US Dollar. BTC is now declining and it remains at a risk of more downsides towards $52,000. Bitcoin is facing an uphill task above the $57,000 and $57,500 levels. The price is now trading well below the $57,000 level and the 100 hourly simple moving average.…
Bitcoin price started a sharp decline after it broke the $60,000 support zone against the US Dollar. BTC is correcting gains, but it is likely to face sellers below $58,000. Bitcoin declined heavily below the $60,000 and $58,000 support levels. The price is now trading well below $58,000 and the 100 simple moving average (4-hours).…
For the first time, a Chinese government official has recognized the value of Bitcoin and other cryptocurrencies. The People’s Bank of China Deputy Governor, Li Bo, called these assets an important part of the future at the Boao Forum for Asia, per a report by Colin Wu. Bo said Bitcoin and cryptocurrencies should be regarded…