Bitcoin’s latest bearish correction is threatening to break below a crucial support level known as the 50-weekly moving average.The cryptocurrency’s two out of three breaks below the said technical floor resulted in more than 50 percent price crash.That puts bitcoin under the risks of falling towards $6,000 in the medium-term.A historically accurate technical indicator is…
Bitcoin price fell 9.9 percent last week to log its most significant decline since the second week of March 2020.The cryptocurrency rebounded higher in Europe and Asia session Monday after testing interim support near $8,750.The jump accompanied thin volume, raising the possibilities of a negative breakout ahead of June.Bitcoin was trading in positive territory this…
Bitcoin and traditional markets logged a synchronous rally after crashing almost in tandem in March 2020.But the recovery has not impressed a vast majority of global fund managers, according to a survey conducted by the Bank of America.Only 1 out of 10 fund managers believe that the U.S. economy will register a V-shaped recovery, putting…
Despite the ongoing retracement in the prices of Bitcoin, Ethereum, and other top cryptocurrencies, investors remain highly optimistic about this market. ETH, especially, has benefited from traders, with data from leading crypto exchange Bitfinex indicating that there are more long positions open for Ethereum than ever before.“What. Is. Happening. 2.2% of all ETH in existence…
Bitcoin price fell towards $9,200 a day after it formed a bullish Golden Cross pattern.The decline appeared despite bullish favorable market outlook, raising fears of an extended downside action before this week’s close.So far, bitcoin has logged its biggest weekly decline since March 2020, with losses mounting near $700.Bitcoin plunged to near $9,200 just a…
Hedge funds with exposure in the Bitcoin market have returned better year-to-date yields than their traditional peers, according to researchers at HFR.A rally in April 2020 lifted crypto hedge fund YTD profits to 13.4 percent, while a wider hedge fund industry suffered losses.Meanwhile, the Embark Group’s Peter Toogood warned that many fund managers are not…
Ahead of the approved and now distributed stimulus package that provided individual US taxpayers with up to $1,200 in relief, the proposal included the introduction of a cryptocurrency like the digital version of the dollar. However, if failed to gain traction and was pulled.Because the US Treasury failed to launch a cryptocurrency to distribute stimulus…
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…