The constant expansion of the coronavirus continues to harm the global economic markets. Monday’s severe stock sell-off pushed the UK to cut the interest rates, a week after the US did the same. As a result, Europe stocks are in the green as of writing these lines. Wall Street’s major indexes opened Wednesday’s trading in...Read More
Over the past two days, we saw Bitcoin continued its correlation with Wall Street. After reaching a 2-month low at $7600, and finding support upon the historic trend-line, Bitcoin recovered to $8150, however, just like the Wall Street futures, BTC price lost momentum and now trading roughly around $7800 – $7900. In the bigger picture,...Read More
The cryptocurrency market plunge started during the weekend and continues as of writing these lines. Bitcoin dumped with over 15%. Naturally, the general sentiment among the crypto community has changed. Some speculate that the 2020 bullish trend is now over and that investors should prepare for even worse consequences. Market Sentiment Follows The Price It’s...Read More
The cryptocurrency market tumbled over the weekend, and it brought a wave of familiar negative voices. The two famous American economists, Nouriel Roubini and Peter Schiff, quickly took the opportunity to bash Bitcoin for not being a proper hedge during the current economic turmoil. Dr. Doom Against Bitcoin With the rising impact of the coronavirus...Read More
Confirmed coronavirus cases continue to grow globally. The Saudi Arabia Kingdom launched an unexpected oil price war against former ally Russia. As a result, the traditional financial markets are plummeting severely. At the same time, Bitcoin showcases a positive correlation with them and drops below $8,000 – for the first time since January 2020. The...Read More
The economic situation is starting to feel well the coronavirus effects. As of writing these lines, Crude Oil plunges 30% to a 3-decade low. NASDAQ futures are forecasting another 5% plunge, while London crashes 7%. What started yesterday as the PlusToken Ponzi’s sell-off, continued today to a massive collapse. The question is whether Bitcoin is...Read More
One of the most significant cryptocurrency fraudulent projects from the past few years recently tried to launder another 13,000 bitcoins. To do so, the perpetrators used numerous mixing services. Shortly after, the price of Bitcoin plunged by $500 in a matter of hours, and the question remains if this is the reason behind the drop. PlusToken...Read More
Things happen fast in crypto. Yesterday’s analysis focused on the tight range of $200 Bitcoin was trading inside over the past days. We had clearly stated in yesterday’s analysis that a huge price move is imminent. Just a few hours after, and Bitcoin made the anticipated move. As in crypto, Bitcoin price first went to...Read More
Bitcoin (BTC) Bitcoin price managed to increase by a total of 5.58% over the past 7-days of trading after rebounding from the support at $8,550 provided by the downside 1.618 Fibonacci Extension level. After bouncing, the cryptocurrency managed to travel higher as it broke the $9,000 level in yesterday’s session to reach $9,150 today. From...Read More
Over the past days, we see a positive correlation between Wall Street and Bitcoin. Just a few hours after Wall Street closed its trading day in decent 3-4% gains across all major indexes, the primary cryptocurrency had gone through the same increase. As of writing these lines, Bitcoin price had reached a daily high of...Read More
After overheating for months to pie-in-the-sky valuations, the stock markets are finally cooling down. Coronavirus may have been the catalyst, but market analysts worth their salt knew the correction was looming. The Buffett Indicator (the total market cap of the US stock market divided by US GDP) has surpassed the pre-Great Recession and pre-Dot Com...Read More
Despite the raging volatility of the global markets due to the coronavirus, Bitcoin is acting as a stable coin, and over the past week, we had seen it trading between $8500 and $9000, which is roughly a 5.6% price range. Since the previous analysis from two days ago, Bitcoin had broken above our marked triangle...Read More
After last week’s plunge of over $1,500, Bitcoin rattled its 2020 positive run. The question remained if the $8,500 critical support level could hold the downfall, and, so far, it has. The largest cryptocurrency dipped below it to $8,440, but it managed to recover quickly. At the time of this writing, Bitcoin is trading at...Read More
All financial markets went through a severe downfall last week. The most popular indexes – S&P 500, the Dow Jones, Nasdaq, etc. – dropped with more than 10% in what history says it’s one of the worst trading weeks ever. In times of uncertainty, investors generally turn to safer options. Gold is considered to be...Read More
Since our previous price analysis two days ago, we saw Bitcoin trading under a tight range between $8500 from below and $8700 from above – which is the 200-days moving average line. As been mentioned in our recent price analysis, the $8500 is considered a critical support area. So far, this support holds nicely over...Read More
Bitcoin Bitcoin dropped by a total of 11% over the past week as the cryptocurrency broke beneath previous support at $9,550 and plummetted beneath support at $9,000. It continued to decline until reaching the current support at the 200-days EMA, which is bolstered by the .5 Fib Retracement at around $8,600. The momentum is certainly...Read More
Just five days ago, Bitcoin was trading for more than $10,000 per coin. As the coronavirus fears hit the stock markets, Bitcoin is not left behind. The coin had completed $1000 drop in just three days, and over the past two days, Bitcoin had continued its decline towards the $8400 – $8500 horizontal support. The...Read More
Bitcoin’s correlations with gold and the traditional financial markets have been challenged in the past several days. However, some members of the community believe that it needs to separate itself entirely to continue growing. Bitcoin Compared To Gold And Stocks The largest cryptocurrency has a compelling history when compared to other assets. For instance, it...Read More
There is the endless argument about whether Bitcoin is a safe-haven asset like Gold. This could be true most of the time; however, Wall Street and the global markets are facing a difficult situation resulting in a fatal drop of almost 8% over the past four days, surrounding the coronavirus effects. And Bitcoin, this time,...Read More
Finnish Customs seized 1,666 bitcoins several years ago during major drug busts. The digital asset’s value has grown with almost 2,000% since then, and the authorities are wondering what they could do with all the bitcoins. Finland’s Seized Bitcoins Back in 2016, police raids in Finland were a common sight. The notorious black market, the...Read More
And the volatility continues: The past three weeks for Bitcoin’s price were very volatile. While the coin reached its new year’s high at $10,500, the fluctuations to both sides refuse to calm down over the past days. On our recent Bitcoin price analysis, we mentioned that Bitcoin was surging $300 intraday (towards the $10,000) and...Read More
Traditional financial markets are plunging today amid fears of the spreading coronavirus. While indices and stocks tumble across the globe, gold is increasing as investors turn to it as a safe haven. It reached its highest point since 2013. Amid this uncertainty, it’s interesting to see where Bitcoin’s price will go next. Stock Markets Plummet...Read More
Following the huge price dump last Wednesday, we saw Bitcoin trading in the tight range between $9550 and $9750 until a few hours ago, where the primary cryptocurrency had decided to fire some engines towards a critical resistance level. As of writing these lines, Bitcoin is testing the $9900 – $10,000 resistance. As mentioned in...Read More
Bitcoin Bitcoin witnessed a turbulent week after dropping by a total of 5.5% to bring the cryptocurrency back beneath $10,000. During the sell-off, Bitcoin fell beneath the previous rising price channel but has managed to rebound at support at $9,552, provided by a short term .236 Fib Retracement. Looking ahead, if the buyers push higher,...Read More
Bitcoin, just like Bitcoin, is sometimes having wild moves that are unexpected. As we mentioned in our recent price analysis, the last week was very volatile and abnormal for BTC. After breaking the bullish uptrend, followed by 38.2% corrections, we started to witness the abnormal behavior: Bitcoin dropped down almost to $9400 before a pump...Read More
Since the new decade had started, Bitcoin is showing bullishness. The cryptocurrency started 2020 below $6800 and skyrocketed to $10,500 just days ago. However, Bitcoin gave us another reminder of its cruel volatility. After reaching almost $10,300 as of yesterday’s high, just as Europeans went to sleep, Bitcoin started its show. In a little more...Read More
Interest rates across the globe are going to zero, and it’s bullish for Bitcoin, according to Morgan Creek Capital Management Founder and CEO, Mark Yusko. He also noted that the recent price drop should not bother investors, and they should focus on purchasing more. Zero Interest Rates Good For Bitcoin Yusko recently spoke in a...Read More
Following Bitcoin’s relative stability around the $10,200 price mark, the cryptocurrency had suddenly crashed to $9,200 in a matter of just 50 minutes. This sudden crash comes a day after Bitcoin was making an impressive increase of $700, ranging from $9600 to almost $10,300. Today, shortly before 22:00 UTC, Bitcoin had lost almost $1,000 of...Read More
Tether, the company behind the most widely-used stablecoin, has minted over $60 million worth of USDT. It’s interesting to see if this will have any positive impact on Bitcoin’s price, given the fact that the infusion comes right after BTC surged upwards of $700 in 24 hours. 60,000,000 New USDT Minted Earlier today, the popular...Read More
A quick recap of the recent price action: Following a bloody weekend after rejecting from the $10500 resistance level, the current 2020 high, Bitcoin had dropped to its weekly low at $9467 (Bitstamp). This is not a coincidence, BTC had accurately reached our marked lower descending trend-line that follows Bitcoin’s price action since January 3rd,...Read More
