Just a week ago, Bitcoin was trading just dollars shy from $10,000. But after rumors (since disproven) spread about Satoshi Nakamoto selling his stash of BTC, the cryptocurrency has collapsed to $8,700.Some have deemed this move a “healthy” retracement, but a key indicator suggests that Bitcoin bulls have further losses ahead of themselves.Related Reading: Crypto…
Since NewsBTC’s last market update, the Bitcoin market has continued to flash signs of weakness.After managing to temporarily reclaim $9,000, the cryptocurrency started to plunge just minutes ago, falling as low as $8,675 — 4% lower than where BTC started the day and about 15% below the May highs.Bitcoin price chart from TradingView.comThis latest leg…
Prior to the ongoing recession, there were skeptics saying that Bitcoin would perform poorly in one.When the stock market crashed at the end of 2018 due to the Federal Reserve announcing it put its balance sheet on “autopilot,” so did BTC, tumbling from the $6,000s to $3,150. Hence, when the recession began earlier this year,…
Bitcoin has seen a sharp overnight selloff that led its price to decline to lows of $8,800 today, with the support here once again helping the cryptocurrency begin climbing higher.This turbulence has come about close on the heels of a multi-day bout of consolidation within the lower-$9,000 region, and the break below the lower boundary…
Just nine weeks ago, the crypto market fell off the face of a cliff.Within 24 hours, from the peak to trough, the price of Bitcoin fell by more than 50% from ~$7,600 to $3,700. It was a move caused by a global liquidation event in all markets, triggered by a run for cash to respond…
Bitcoin’s recent mining rewards halving event didn’t have any sudden impacts on the cryptocurrency’s hash rate, but the impacts of it on miner dynamics are now growing increasingly clear.The benchmark cryptocurrency’s hash rate has been sliding lower throughout the past couple of weeks, signaling that miners are beginning to capitulate.History suggests that hash rate can…
Bitcoin started a strong downside correction from the $9,945 high against the US Dollar. BTC tested the $8,800 support area and it is currently correcting higher.Bitcoin is trading above the key $8,800 and $9,000 support levels.The price is facing a couple of key hurdles near the $9,400 and $9,500 levels.There is a major declining channel…
Last year, one of the biggest narratives in the Bitcoin market was that tensions between China and the U.S. — which culminated in a massive trade war — was pushing cryptocurrencies higher.Whenever President Donald Trump tweeted about U.S. relations with China, BTC responded, both rising and falling with the geopolitical trends. Once, when Trump announced…
After plunging as low as $8,800 on Thursday, Bitcoin has mounted a slight recovery to $9,300, bouncing back from this week’s shell-shock rumor that Satoshi Nakamoto is liquidating his coins.While it’s too soon to tell whether or not BTC is in a full-blown bull market, a prominent trader says that Bitcoin capturing a specific technical…
Ten years ago yesterday, programmer Laszlo Hanyecz paid 10,000 Bitcoin for two Papa John’s pizzas in a trade that took place publicly on the Bitcoin Talk forum. Bitcoin Pizza ad from 2010 | Source: BitcoinTalk.orgAt the time, the transaction was largely laughed at — who would want some worthless internet coins for two steaming hot pies…