Demand for the Bitcoin network is beginning to take off, with the crypto’s ongoing price rise being the likely suspect behind this sudden uptick. This has resulted in the cryptocurrency seeing a massive spike in its transaction fees, which have nearly reached the yearly highs that were set just after the mining rewards halving event…
Ahead of the United States’ second round of economic stimulus, gold and Bitcoin exploded as the dollar fell. According to financial analysts, after setting a new record the gold rally may be peaking, leaving room for the cryptocurrency market to catch up to precious metals. Here are five important factors why Bitcoin will outperform gold…
Bitcoin is pushing higher after correcting as low as $10,600 on Tuesday. As of the time of this article’s writing, the asset trades for $11,200 — a price point nearly 20% higher than that seen seven days ago and one 3% higher in the past 24 hours. Analysts believe that this small rally is a…
Bitcoin’s intense uptrend throughout the past week led its price to highs of $11,400 before it lost some momentum and declined slightly. This latest uptrend has made it so that BTC is less than 45% below its all-time highs. It now appears that the benchmark cryptocurrency is poised to see some further upside, as its…
Bitcoin risks plunging back towards $6,000 purely based on a historical technical setup. The analogy appears after switching a BTC/USD chart from normal to a more precise logarithmic scale. It shows that the cryptocurrency has not precisely broken above its long-term descending trendline resistance. There is an extreme possibility that Bitcoin plunges towards $6,000 in…
Bitcoin has faced a rather strong correction after its explosion to the $11,500 highs. At the recent lows, the asset traded as low as $10,600 — around 8% below the local highs. Despite the retracement and the fact that BTC remains below $11,000, analysts remain bullish on Bitcoin. One historically accurate trader, for instance, just…
Bitcoin is struggling to gain momentum above the $11,200 level against the US Dollar. BTC is currently correcting lower and it could test $10,700 before a fresh increase. Bitcoin is showing signs of a downside correction below the $11,200 level. The price is likely to find a strong buying interest near the $10,700 level. There…
Bitcoin is surging higher after consolidating under $10,000 for a number of weeks and months. As of this article’s writing, the leading cryptocurrency is trading at $11,000 — a price nearly 20% higher than it was seven days ago. The asset is on track to hit $20,000 by year-end, according to a prominent cryptocurrency investor…
The structure of the entire cryptocurrency market has been shifting throughout 2020, with traders placing an increased emphasis on options contracts to capitalize on the volatility seen by Bitcoin and other digital assets. The options market’s influence over Bitcoin’s price dynamic is growing by the day, with trading volume on Deribit setting a record high yesterday.…
Yesterday, Bitcoin broke up through resistance at $10,500 and in short order, rocketed another $1000 to a high of $11,419 on Coinbase Pro. Just as fast as the cryptocurrency itself climbed, the crypto market fear and greed index spiked to “extreme greed.” Greed has now reached the highest level in the crypto market in over…