Despite the bearish macroeconomic view, Bitcoin has performed extremely well over the past few weeks, rallying from the $3,700 lows to a high of $7,500 just last week. Even after a slight correction, the cryptocurrency remains around 90% higher than it did during the “Black Thursday” crash.But, some analysts are starting to worry that with…
After falling as low as $6,500 this week seemingly due to stock market weakness, Bitcoin has mounted a strong comeback over the past 24 hours, rallying as high as $7,200 as bulls have taken over. Other cryptocurrencies have registered even more impressive gains.$8,000, some analysts say, is next for Bitcoin as the technicals suggest that…
Bitcoin is currently trading in a broad range above the $6,500 support against the US Dollar. BTC is facing a major resistance near $7,500 and the 100-day simple moving average.Bitcoin is still in a larger downtrend below the $7,500 resistance against the US Dollar.The price is currently consolidating above the $6,500 support area.There is a…
Bitcoin’s intense overnight rally has stalled within the lower-$7,000 region, as the benchmark cryptocurrency has been unable to surmount the heavy selling pressure that has been firmly established just above its current price region.Its inability to push higher despite the overt bullishness of its swift rebound from lows of $6,600 may stem in part from…
It has been a generally positive day for the crypto markets, with Bitcoin’s rebound from its dip below $6,600 yesterday allowing it to incur some notable momentum that has since led it to break back into the $7,000 region.The intensity of this uptrend has been particularly visible amongst altcoins – many of which have climbed…
The highly cited stock-to-flow model, designed to assign a theoretical value to Bitcoin based on the asset’s hard-coded digital scarcity, may not be mathematically sound, according to the CIO of Arcane Assets, Eric Wall.Wall not only claims the S2F model is flawed, but has offered up an alternative, dubbed the Reddit Rainbow chart, that could…
While Bitcoin has embarked on a steep recovery since the $3,700 lows seen in March, some have still been questioning the value of cryptocurrency. Case in point: a hedge fund manager named Mark Dow recently shared that he thinks the cryptocurrency is on the “edge of a cliff,” adding:“I’ve been saying…that Bitcoin on the chart…
Bitcoin has seen a strong reversal since last week’s highs. The cryptocurrency, which traded as high as $7,470 last week, is now changing hands for $6,550 — 12.5% below the highs, but nearly 80% higher than the $3,700 bottom seen in mid-March.There’s a growing sentiment that recent weakness is a sign that there will soon…
Bitcoin failed to surpass the $6,900 and $7,000 resistance levels against the US Dollar. BTC price is back in a bearish zone and it could continue lower towards $6,200 or $6,000.Bitcoin is down around 4% and it is now trading well below the $6,800 level against the US Dollar.There was a break below the $6,555…
After peaking just shy of $7,000 today, Bitcoin has tumbled lower, falling from the $6,950 high to $6,600 just minutes ago, a drop of 5%. Altcoins have followed suit, posting a similar loss to the crypto market leader.Bitcoin’s recent bout of weakness comes as the stock market has shown signs of reversing after last week’s…