Bitcoin price over the last 24 hours saw an over $3,000 crash and more than 15% wiped out from its price tag. Despite the downside, the cryptocurrency is undeniably in a bull market. But bull markets do correct, and when they do it can be powerful. As to where Bitcoin could fall to, the last…
It has been a rough past few days for Bitcoin and the entire crypto market. Following BTC’s tests of its all-time highs in the mid-$19,000 region, the benchmark digital asset faced a massive influx of selling pressure. However, this was expected, and most investors didn’t believe that it was enough to spark any long-lasting correction.…
The price of Bitcoin dropped below $16,400 on the day following a massive short-term correction. On-chain analyst Willy Woo attributed the pullback to an overheated bull run. Before the pullback happened, the Bitcoin derivatives market showed signs of extreme buyer demand. The market was dominated by buyers and long contract holders, leaving BTC vulnerable to…
Bitcoin plunged on Thursday, stalling a price rally driven by fears of the US dollar debasement and higher inflation. The benchmark cryptocurrency fell to $16,200 a token, a multi-week low, ahead of the New York trading session. By doing so, Bitcoin also broke below a crucial parabolic support that had offered it a concrete price…
Bitcoin fell Thursday as a plethora of negative fundamentals catalyzed selling sentiments across the entire cryptocurrency market. #1 Overbought The BTC/USD exchange rate was trading at $16,200 during the early morning session in London, down about 17 percent from its year-to-date high established a day before. Data fetched by CryptoQuant showed an increase in Bitcoin…
Bitcoin very well has the potential to be the successor to the dollar and the next global reserve currency. For now, the store of value narrative and acting as a hedge against inflation has drawn institutions to the asset class finally. Crypto analysts point to the high wealth, “smart money” investor class as the sole…
The ongoing Bitcoin rally brought investor interest back to altcoins in a big way, but as soon as the top-ranked cryptocurrency made it above $19,000, it has been nothing but carnage for Ethereum and the rest of the altcoin space. Here’s why these assets faced carnage as soon as Bitcoin hit $19,500, and why it…
Bitcoin rose Wednesday, right ahead of the release of the Federal Open Market Committee’s minutes from their November meeting. The benchmark cryptocurrency climbed 0.13 percent to $19,198, with its rally slowing down as traders weighted vaccine progress against a persistent rise in coronavirus infections in the US. Technically, Bitcoin maintained support near $19,000, with bulls…
Bitcoin rallied to over $19,000 in the same week that saw President-elect Joe Biden’s decision to appoint Keynesian economist Jenet Yellen as the next US Treasury Secretary. Anthony Pompliano, the co-founder/partner at New York-based Morgan Creek Digital Assets, noted that Ms. Yellen’s economic management style complements Bitcoin’s bullish case. In his note to investors published…
Bitcoin price broke to the upside and traded close to $19,500 against the US Dollar. BTC is currently correcting gains, but the previous resistance near $18,800 could provide support. Bitcoin traded above the $18,700 and $18,800 resistance levels before correcting lower. The price traded close to the $19,500 level and settled above the 100 hourly…