Bitcoin has seen waning demand over the past several days, with the cryptocurrency slowly inching lower as it continues trading firmly within its long-held consolidation channel.Overnight, the crypto did face some heightened volatility that caused it to dip down to $9,100 before rebounding to over $9,400.In the time since, however, the benchmark digital asset has…
After the block reward halving in May, Bitcoin’s mining ecosystem was immediately thrown into disarray.The revenue of miners was effectively halved overnight, forcing many miners with tight profit margins to go offline as they could not maintain a positive cash flow in the wake of the event. This resulted in a slowdown in transaction speeds…
Bitcoin could soon see a massive move as volatility continues to tighten, according to a crucial indicator. Investors, however, remain largely divided over what comes next for the cryptocurrency.Related Reading: A Top Macro Analyst Just Bought Bitcoin For the First Time EverBitcoin Is Prepping For a Massive MoveThe width of the Bollinger Bands on Bitcoin’s…
While Bitcoin’s uptrend has stalled, prominent names in the financial world have continued to delve into cryptocurrency.The latest of these is Darius Dale, the Managing Director & Partner at Hedgeye Risk Management. Dale heads the firm’s Macro Strategy team alongside the chief executive of Hedgeye.The analyst announced on June 19th that he “just bought Bitcoin…
Bitcoin’s recent consolidation has thrown most investors for a loop: the majority aren’t too sure what comes next for the cryptocurrency market.Some, though, have made progress in discussing the recent price action. One analyst observed that stepping back and looking at BTC’s medium-term price action, the past three months look extremely structurally similar to a…
Bitcoin bulls were able to post a strong defense of a crucial support level after facing some turbulence overnight.This bolstered the cryptocurrency and has resulted in it once again trading squarely within its previously formed consolidation channel around $9,400.It does appear that BTC is now sitting just beneath a heavy resistance level that could stop…
Bitcoin’s lackluster price action over the past few weeks has struck a serious blow to investor sentiment, leading many to anticipate weakness in the days and weeks ahead.That being said, this growing bearishness may be unwarranted, as some interesting trends seen while looking towards its on-chain fundamentals seem to suggest that further upside is imminent…
A bearish chart formation has appeared on Bitcoin dominance that could lead to another leg down and rebound in altcoin/BTC pairs. However, the 58% level could remain a barrier, keeping a full-blown altcoin season from occurring for quite some time longer.Bitcoin Dominance Forms Bear Flag, Hanging By A Thread On Channel SupportBTC dominance is a…
Bitcoin could break above $10,000 in the next quarter.The upside sentiment matures as the S&P 500 hints at painting a super-bullish Golden Cross in July 2020.The U.S. benchmark’s growing correlation with Bitcoin could help it attempt a breakout towards $20,000.As bitcoin repeatedly struggles to close above $10,000, the S&P 500 is paving the way for…
As Bitcoin dips below $9,500, a prominent market analyst sees the cryptocurrency resuming its uptrend towards $10,450.Michaël van de Poppe, a full-time trader from the Amsterdam stock exchange, predicted the bullish scenario as Bitcoin maintained a concrete price floor above $$9,250-9,300.The same support range was instrumental in sending the bitcoin price towards $14,000 in 2019.Bitcoin…