Crypto analysts use different tactics to try and predict future price movements in Bitcoin and altcoins. Due to the speculative nature of the emerging asset class, the study of emotion-driven impulses and corrections – called Elliott Wave Theory – can be particularly insightful.According to one crypto analyst that focuses solely on the practice of Elliott…
It’s been a brutal past 120 minutes for the Bitcoin market.After holding the $9,800 support for 48 hours, the cryptocurrency began to dive lower approximately two hours ago. From its $9,800 perch, the flagship crypto-asset fell as low as $9,100 on leading Bitcoin exchange Bitstamp — a drop of over 7%. The price has since…
Bitcoin is trading above the $9,600 and $9,500 levels against the US Dollar. BTC price is showing positive signs and it seems a few steps away from smashing the $10,000 resistance.Bitcoin is trading nicely above the $9,600 and $9,560 support levels.The price is likely to make another attempt to clear the $9,950 and $10,000 resistance…
Bitcoin has seen some notable upwards momentum throughout the past several weeks, but it has failed to successfully surmount the $10,000 region.This price region has been a historically strong level of resistance for the benchmark cryptocurrency, as it has failed to hold above it for any extended period of time subsequent to its late-2017 crash…
The global events seen throughout 2020 have largely altered Bitcoin’s underlying market dynamic, causing the cryptocurrency to see a massive rise in institutional involvement.Many of these institutional investors have been moving to gain exposure to BTC via its CME futures, which has seen a massive rise in open interest throughout the past several days and…
The cryptocurrency market is like the Wild West, where anything goes and crime is everywhere if you aren’t careful. While Bitcoin got its start on the dark web, its use across the underbelly of the internet has only increased in 2020.Could the growth of Bitcoin revenue on the dark web be partly responsible for the…
Bitcoin has long been referred to as the digital counterpart to the scarce physical asset and precious metal, gold. But could altcoins be the digital silver to Bitcoin as digital gold?According to an incredibly bizarre correlation, altcoins are nearly perfectly tracking alongside silver, albeit across different timeframes. What exactly does this mean, and is this…
Bitcoin risks a $2,000 price correction as bulls continuously fail to penetrate $10,000-levels.The downside sentiment takes cues from a popular technical indicator, dubbed as Triple Top.The reversal pattern shows that bitcoin is no longer rallying – and is struggling to find buyers near the $10K area.Almost all the leading Bitcoin technical indicators have flipped to…
There is a 57 percent chance of Bitcoin undergoing a bearish breakout, according to a standalone indicator.The warning pops at a time when the cryptocurrency is testing a 2.5-year-old trendline as its primary resistance.If valid, then the bitcoin price can fall towards $7,700.Bitcoin has confirmed the presence of a standalone technical indicator that could send…
As bitcoin’s supply rate went down by half, its demand among retailers and fund managers have grown stronger.The demand-supply dynamics could send the bitcoin price above $10,000, according to Matt D’Souza, the chief executive of Blockware Solutions.More gains expected for the cryptocurrency amidst global “macro and discretionary/reckless spending” by central banks.More and more retail investors…