Contrary to what many in the crypto space are discussing, Senior Commodity Strategist for Bloomberg, Mike McGlone, has made the case for Bitcoin being beneficial for the U.S. dollar over China’s digital Yuan. According to McGlone, the cryptocurrency is “eclipsing” Yuan’s global adoption. Specifically, the U.S. dollar is showing “organic adoption” in the digital ecosystem,…
Bitcoin price is still stuck under $60,000 but unable to push any lower than $55,000. The tightening across the crypto market has been long and arduous but when $60,000 is finally broken, the crypto asset should reach what one analyst calls “escape velocity.” Here’s what the term means and what that could look like post-breakout…
Bitcoin price started a fresh increase above the $57,500 resistance against the US Dollar. BTC is showing positive signs above $58,000 and the 100 hourly SMA. Bitcoin remained well bid above the $56,000 level and it started a fresh increase. The price is now trading above the $58,000 level and the 100 hourly simple moving…
Among the many reasons for the ongoing bull run in Bitcoin, has been the emergence of corporations and businesses adding BTC to their company treasury reserves. The sudden increase in demand for large sums of BTC during a period of low supply has caused prices to go parabolic. Interestingly, so have the numbers of mentions…
Despite the best efforts by bulls for what has been several weeks now, Bitcoin price can’t seem to get back above $60,000 and spend any meaningful time above it. Fundamentals are as bullish as it gets for the top cryptocurrency, but bearish technicals might have finally caused sellers to step in. That’s according to one…
According to a press release, one of the most important banks in the U.S. State Street will partner with start-up Puremarkets. The cooperation will enable State Street’s Currenex, a “high performance” trading technology provider, to work with the start-up on a crypto trading platform. In parallel, the partners might explore “the digital currency trading space”.…
Bitcoin price extended its decline and tested the $55,500 support against the US Dollar. BTC is now recovering, but it is likely to face a strong resistance near the $57,500 level. Bitcoin failed to hold the $57,000 zone and extended its decline towards the $55,500 level. The price is now trading well below the $57,500…
Bitcoin price is diving currently, shaking up the crypto market as a whole. In addition to the correction in the top cryptocurrency by market cap, altcoins have taken an even more severe beating. With top alts like Ethereum and Litecoin are seeing an even further drop on BTC trading pairs, Bitcoin dominance has formed a…
In his annual letter to his shareholders, J.P. Morgan Chairman and CEO Jamie Dimon addressed the status of regulations towards Bitcoin and cryptocurrencies in the United States. At the beginning of the letter, Dimon calls 2020 a “strong” year for the banking institution in spite of the pandemic Covid-19. Dimon seems to have changed his…
XRP price is back trading at right around a dollar per token, but according to a rare bottoming pattern spotted by a legendary technical trader on the Bitcoin trading pair, the surge is only just getting started. However, there’s a catch. When it comes to this particular chart pattern and crypto – the same trader…