Since the $8,600 lows seen at the start of the week, Bitcoin has mounted a strong comeback, recovering to ~$9,800.A growing number of analysts, however, have said that the recovery is just noise in an otherwise bearish trend. They cite fractals and textbook patterns suggesting that it is only a matter of time before BTC…
Bitcoin price has once again found itself trading just below its most important resistance: $10,000.If the first-ever cryptocurrency can break that level, according to an eerily similar fractal from dot com-era Amazon stock charts, a retest of the asset’s all-time high would immediately happen next, followed by a steady uptrend that lasts for decades thereafter.Comparing…
Since plunging as low as $8,600 earlier this week, Bitcoin has mounted a strong comeback that took prices as high as $9,900 on June 4th and 5th.The more than 10% bounce has convinced many traders of the bull case, hence why funding on futures exchanges remains positive, showing longs are more aggressive than shorts. Yet…
During the height of the 2017 crypto speculative bubble, it wasn’t uncommon for random altcoins with little to no use case at all to rally over a thousand percent or more. Life-changing wealth was generated.One venture capitalist claims that returns like that won’t be quite as easy to come by during the next bull market,…
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…