Ever since February, Bitcoin’s price action has been largely dependent on that of legacy markets. Markets like the S&P 500, the U.S. dollar, and gold have strongly swung the directionality of BTC and the rest of the cryptocurrency market. The strong correlations that have formed have signaled to some investors that Bitcoin’s premise of being…
One of the biggest impacts awaiting to hit Bitcoin and the rest of the cryptocurrency space is the firm hand of regulation. It is already beginning, starting with Russia’s finance ministry seeking to put holders in prison for non-compliance when it comes to disclosing cryptocurrency valuation accruals. Here’s what this new proposal says, and how…
There are less than a handful of days left in September, and therefore only a few days left for Bitcoin to make it a month to remember. In order to make it one for the history books, the cryptocurrency must hold above two key levels, both converging together at this crucial monthly close. How the…
It’s been quite a boring month for Bitcoin. After plunging around $2,000 at the start of the month, the leading cryptocurrency has entered a tight consolidation range between $10,000 and $11,000, bouncing back and forth between those pivotal technical levels. As of this article’s writing, BTC trades for $10,700, at levels that some analysts have…
Bitcoin price started a decent recovery from the $10,139 swing low against the US Dollar. BTC gained pace above the $10,550 resistance, but it is facing a major hurdle near $10,800. Bitcoin managed to stay above the $10,000 support and started a decent recovery. The price is now trading above the $10,550 resistance and the…
The biggest debate in the crypto space over recent years has been about if Bitcoin is a medium of exchange or not. Prominent individuals that have commented on the matter include Jack Dorsey, the chief executive of Twitter and Square, and many commentators and investors online. Dorsey, for one, thinks that Bitcoin should be used…
Bitcoin’s price action as of late has done little to offer investors with insights into its near-term outlook. Its price has mainly been oscillating between highs of $11,000 and lows of $10,000, with each attempt to break out of this tight trading range resulting in the cryptocurrency seeing massive inflows of selling pressure that force…
Bitcoin price failed to correct higher and declined further below $10,200 against the US Dollar. BTC remains at a risk of more downsides below the $10,000 support. Bitcoin broke the $10,250 and $10,200 support levels to move further into a bearish zone. The price is now trading below $10,300 and the 100 hourly simple moving…
An expert in Bitcoin fundamental analysis claims that although the cryptocurrency is bullish currently, things could get “rocky” until after the US Presidential Election concludes. But as soon as the winner is chosen, the “clarity” combined with the asset’s halving has in the past provides “solid” foundation for each new bull run to begin. Bitcoin…
The common narrative shared over recent months is that Bitcoin is adversely affected by increases in the value of the U.S. dollar. Case in point: when the dollar began to spike in February and March, BTC began to tumble lower, as did the S&P 500 and the price of gold. More recently, when Bitcoin topped…