Jobless claims in the United States performing worse than initial forecasts expected has caused the Dow and other stock indices to slide pre-market. With Bitcoin‘s uptrend hanging by a thread, how will the first-ever cryptocurrency respond to the negative news and falling equities market?Jobless Claims Worst Than Forecasted Sends Dow Plunging Pre-MarketWhen the pandemic first…
As Bitcoin maintains its positive correlation with the S&P 500, a top analyst has predicted an all-time high for the U.S. benchmark.Research firm DataTrek published a note earlier this week that the S&P would rise by another 14 percent by the end of 2020.The prediction raised the possibilities of Bitcoin retesting its all-time high of…
Bitcoin climbed higher above $9,500, but it struggled to clear $9,600 against the US Dollar. BTC is now correcting gains and it seems like there is a bullish flag forming with resistance at $9,450.Bitcoin is currently correcting lower from the $9,595 swing high.The price is trading well below the $9,500 pivot level and testing the…
Bitcoin’s consolidation phase has shown no signs of letting up anytime soon, as it has been hovering around $9,400 ever since it was able to rebound from its recent lows of $8,900.It is important to keep in mind that the cryptocurrency has been forming lower highs over the past several weeks. First it posted a…
Bitcoin has continued to extend its multi-week consolidation phase. The crypto is currently hovering within the mid-$9,000 region and has not yet posted any sorts of trend defining movements.It is important to note that there are a few factors emerging that suggest the cryptocurrency’s next big movement will favor sellers.Despite being stuck in a bout…
After a strong rise over the last several months, momentum in Bitcoin has been waning, prompting one analyst that has thus far been long BTCUSD, to flip neutral.A break in sideways price action and a return to volatility is expected soon, but which way will the first-ever cryptocurrency head next?Hedge Fund Manager Prepares to Short…
Bitcoin price could hit $18,000 if it continues to maintain its positive correlation with the S&P 500, says mysterious analyst PlanB.The creator of the popular stock-to-flow model highlighted a 95 percent r-squared correlation between the two assets.He added that the global central banks’ unprecedented quantitative easing policy serves as a basis of rallies in both…
Bitcoin could breach above its historic high of $20,000 on rising inflation fears.Russell Napier, the founder of research platform ERIC, warned that inflation could rise above 4 percent next year in developed countries.The unprecedented surge could lead investors to the safety of scarcer assets, thereby benefiting Bitcoin.A veteran strategist’s eerie inflation prediction is setting Bitcoin…
Bitcoin is trading well above key supports on the daily chart against the US Dollar. BTC seems to be preparing for a crucial bullish breakout above the $10,000 resistance zone.Bitcoin traded as high as $10,390 before it started a minor downside correction.The price is currently trading well above the $9,000 support and the 100-day simple…
The multi-year bear market Bitcoin has been caught within in the time following its decline from highs of nearly $20,000 has shown few signs of ending anytime soon, as BTC has struggled to gain any solid footing within the five-figure price region.It is important to note that on-chain data shows that using Bitcoin’s all-time highs…