Bitcoin has seen some lackluster price action in recent times, struggling to garner any decisive momentum in either direction as both buyers and sellers reach an impasse.The cryptocurrency does appear to be positioned to make another big movement in the near-term as its consolidation phase persists.One factor that could have some influence over which direction…
Binance Pool has become the 11th largest Bitcoin mining pool in the world, according to data from BTC.com. The exchange’s CEO Changpeng Zhao shared the news earlier today, using older data that showed Binance Pool ranked 8th with 4.23% of the total hashrate. Binance Pool Sees Slow and Steady Growth in HashrateBinance, one of the largest…
Spot bitcoin fell was down 1.32 percent at $9,659 per token ahead of the New York opening bell Friday.Bitcoin futures slid 1.82 percent to $9,715.The move downhill appeared as the U.S. futures headed higher following jobs report at 0830 ET.Bitcoin prices eased ahead of hugely awaited U.S. jobs report on Friday as investors pinned their…
Bitcoin bulls eye a $20,000 yearly close against the Federal Reserve and the European Central Bank’s expansionary policies.Dan Morehead, the CEO of Pantera Capital, noted that the bitcoin market is already outperforming other assets since the Fed launched an unlimited bond-buying program in March 2020.With ECB following a similar quantitative easing policy, it could prove…
The Bitcoin blockchain saw its mining dificulty adjust downwards on June 5. It has now become easier to mine BTC. Historical data shows that price and mining difficulty has elements of positive correlation.That being so, a drop in mining difficulty could signal an incoming drop in price. And given Tuesday’s brutal rejection at $10.4k, which…
Bitcoin is recovering and showing positive signs above the $9,700 level against the US Dollar. BTC price is likely to accelerate higher above $10,000 as long as it is above the 100 hourly SMA.Bitcoin is correcting higher and it recently cleared the $9,740 resistance zone.The price even broke the $9,800 level and it traded as…
Bitcoin’s dominance over the crypto market has remained steady for the past week, although it has been declining since the start of the year.In order for altcoins to garner any type of immense momentum independent of that of BTC, it is imperative that the cryptocurrency cedes some of this dominance.One popular cryptocurrency analyst does believe…
After rallying as high as $10,400 earlier this week, Bitcoin plunged by nearly $2,000 in 24 hours on BitMEX. It was a move that liquidated over one hundred million worth of derivatives positions.Analysts were quick to respond to the move with expectations of downside in the crypto market. One trader shared that BTC’s price action…
Following a sharp decline to $9,400 earlier today, Bitcoin has caught some upwards momentum that is now leading it up towards the five-figure price region.This volatility does appear to be favoring buyers, as it has allowed Bitcoin to erase a significant amount of the losses that came about as a result of its recent decline…
UBS analysts expect Asia to be the only region that sees positive growth this year, and the return to strong earnings in the region could spark a renewed appetite for risk, and potentially, Bitcoin.UBS Analysts Expect Positive Growth in Asia, May Boost Bitcoin Buying in the RegionThe global economy is crumbling, and although markets are…