Bitcoin has been firmly acting as a risk-on asset over the past several weeks, with its price closely tracking the movements seen by the U.S. stock markets. This has invalidated its status as a safe haven asset and has made the benchmark crypto prone to seeing massive near-term downside.Although BTC has been moving in tandem…
Bitcoin is down more than 5% and it broke the $6,000 support against the US Dollar. BTC price is now showing bearish signs and it could continue to move down.Bitcoin started a fresh decline after it failed to clear the $6,500 resistance against the US Dollar.The price is now trading below the $6,200 and $6,000…
Bitcoin has once again found itself caught firmly within a bout of sideways trading in the lower-$6,000 region, which comes close on the heels of the benchmark cryptocurrency’s recent rally up to highs of $6,900.This consolidation is highly likely to result in a massive movement in the near-term, leading some prominent traders to note that…
Bitcoin is currently correcting higher from the $4,320 support area against the US Dollar. BTC could rally further if the bulls are able to push the price above $6,800 and the 100 SMA (H4).Bitcoin price seems to be facing a strong resistance zone near the $6,800 and $7,000 levels.The 100 simple moving average (4-hours) holds…
Bitcoin has found some stability within the lower-$6,000 region over the past couple of days, with its recent rally to highs of $6,900 resulting in a relatively strong rejection that has called into question the strength of its recent uptrend.Although BTC has been able to climb significantly from its recent lows within the $3,000 region,…
2020 has been a turbulent year for Bitcoin and the aggregated cryptocurrency market, with the benchmark digital asset rallying to highs of $10,500 before facing a massive selloff that led its price to crater to lows of roughly $3,800.This capitulatory selloff has been followed by an intense rebound over the past few days, which has…
Bitcoin has seen a notable upswing today that has marked a significant extension of the momentum that was first incurred yesterday when the benchmark cryptocurrency rallied from lows of $5,100 after being caught within a bout of sideways trading for an extended period of time.Analysts are now noting that this ongoing rally is not being…
Bitcoin is up more than 15% and it broke the $6,000 resistance against the US Dollar. However, BTC price is now facing a huge barrier near the $6,400 and $6,500 levels.Bitcoin managed to rise above the $5,800 and $6,000 resistance levels against the US Dollar.The price is up more than 15% and it is now…
Bitcoin saw some intense upwards momentum today that allowed it to rally into the $6,000 region, with this upswing coming about after an extended period of sideways trading around $5,000.This movement came independent of the U.S. stock market – which has been firmly guiding BTC over the past several weeks – leading some to believe…
Bitcoin is a unique asset unlike anything else in the financial world. Much of its value is derived from its underlying blockchain protocol, powered by miners through a process called proof-of-work.However, the first-ever cryptocurrency’s hash rate is dropping faster than its price, indicating that the miners powering Bitcoin have begun to shut down their operations…