Bitcoin has been forming a striking correlation to the S&P 500 and the rest of the stock market throughout the past few months. This correlation has only grown in recent weeks, and today’s slide in the equities market has led the benchmark cryptocurrency down to a crucial support level Analysts are now pointing to this…
Bitcoin has been consolidating below resistance for months now, waiting for a spark to ignite an explosion in either direction. Due to the ongoing correlation between BTC and stocks, a crashing global stock market could drag down crypto with it once again. Continued Correlation Between BTC and S&P500 Has Kept Crypto Down Since the start…
Yesterday, high-profile Twitter celebrities and other influential accounts were hacked to promote a Bitcoin scam. The scam isn’t uncommon and is just one of many that involve cryptocurrency in some way. To help investors avoid scams like these, we’re highlighting the most common crypto-related scams and how to avoid them. Bitcoin At Center of High-Profile…
Bitcoin plunged towards $9,000 during the Thursday trading session as a flurry of negative media coverages engulfed the cryptocurrency market. The plunge followed two weeks of flat price action that kept Bitcoin restricted inside the $9,100-9,300 range. It also appeared as Chinese stocks experienced their heaviest sell-off since February 2020, a sentiment that rippled across…
Just minutes ago as of this article’s writing, Bitcoin and Ethereum have begun to break down from the lows of their consolidations over the past few days. For ETH, that meant the asset fell below $238-240. And for BTC, that meant losing the $9,200 region. While this is by no means the massive bearish breakdown…
With Bitcoin trading sideways for so long and volatility dropping to such uncharacteristic lows, crypto analysts are watching the Bollinger Bands closely. Even the tools creator has since spoken out about the current price action in BTCUSD. In the past, when he speaks, a major move often follows. Is it once again time to pay…
Bitcoin’s consolidation over recent weeks has convinced some traders that there is a move to the downside in the works. As reported by NewsBTC recently, one analyst commented that the recent price action is signaling a potential “distribution” pattern: “A couple more clues developing that lend themselves to HTF distribution. 1. Rising Demand on the…
After two full years of price action, Bitcoin and gold are neck and neck in terms of return on investment. However, during the same time period, the leading cryptocurrency by market cap experienced wild price swings while gold stayed stable and steady. Has the wild ride along the way tarnished the cryptocurrency’s safe haven narrative?…
Bitcoin’s extended bout of sideways trading has caused the cryptocurrency to see historically low volatility levels. In the past, bouts with volatility this low tend to be followed by massive movements that set the tone for which direction the cryptocurrency will trend in the days and weeks ahead. Analysts are noting that there are a…
Bitcoin is facing an uphill task near $9,300 and $9,400 against the US Dollar. BTC seems to be preparing for the next big move either above $9,400 or below $9,000. Bitcoin is stuck in a broad range above the $9,120 support zone. The price is struggling to clear the $9,300 and $9,400 resistance levels. There…