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…
Crypto traders have been closely watching the rapidly developing Coronvirus pandemic’s impacts on the global economy, as Bitcoin’s recent status as a risk-on asset has made it particularly prone to seeing volatility similar to that seen by the traditional markets.This risk-on asset classification may soon be nullified, however, as the benchmark cryptocurrency has seen a…
Bitcoin is showing a few recovery signs above the $6,760 support against the US Dollar. However, BTC price is still trading below a key bearish trend line and $7,000.Bitcoin is currently correcting higher and trading above $6,800 against the US Dollar.The bulls are showing a lot of resilience above $6,600, but the price is still…
Bitcoin is currently in the process of attempting to surmount the heavy resistance that has been established within the upper-$6,000 region, with this ongoing uptrend marking an extension of the momentum that was incurred when BTC rebounded from lows of $6,600.This volatility would naturally lead one to anticipate a rise in activity amongst retail traders,…
Bitcoin price is in recovery mode, after the first-ever cryptocurrency suffered a record-breaking collapse and fall to under $4,000, shocking the crypto community and the world at large.The selloff has led to extremely oversold conditions, according to the Relative Strength Index indicator. When combined with a Bitcoin valuation substantially below where the highly cited stock-to-flow…