Bitcoin Price Is Showing All 3 Crucial Signs of a Classic Bull Trap
The Bitcoin price increased by more than 10% in a 24-hour span, rising from $7,020 to $7,770 on both spot and futures exchanges. But, BTC is showing all three signs that the upsurge was a bull trap.
Negative futures funding rate before the rally, altcoins failing to front-run Bitcoin, and the BTC price running into a multi-year resistance level all point toward the recent price spike being a fakeout.
Futures funding rate was negative before Bitcoin rally On Binance Futures, the funding rate of Bitcoin dropped to as low as -0.03% prior to the abrupt increase in price.
Futures exchanges like BitMEX and Binance Futures use a system called funding to provide balance in the market for both long and short contract holders. If there are more short contracts in the market, then the funding rate turns negative and traders shorting BTC have to compensate long contract holders with a portion of their positions.
As an example, if a trader places a $50,000 short on Bitcoin and the funding rate is -0.03%, then the trader has to pay $15 every eight hours, so $45 in total per day to long contract holders.
When the Bitcoin price started to increase and the funding rate remained negative on April 23, it created an unfavorable environment for sellers, as they were paying a part of their positions while the value of their trades was swiftly declining.
That forced short holders to close or adjust their positions, adding to the already rising buying demand in a short period of time. It ultimately converted into a short squeeze, liquidating $79 million worth of shorts on BitMEX alone.
A short squeeze was expected due to the negative funding rate, but the momentum of the rally dwindled quickly, raising skepticism towards the strength of the upside move.
Altcoins are not rallying in tandem Typically, in an extended and sustainable Bitcoin rally, major alternative cryptocurrencies in the likes of Ether (ETH) and XRP tend to rise in tandem with BTC, frontrunning it at times.
During the time the Bitcoin price increased by seven percent, the price of Ether rallied by around seven percent, underperforming against BTC.
The lack of high volatility in the altcoin market amidst a Bitcoin uptrend indicates that there are not many buyers in the cryptocurrency market willing to take additional risks in the short-term. Ver matéria
The Halving, 21M Bitcoin, and What it Means for the Next Bull Run
As any fan of cryptocurrencies can tell you, the total number of Bitcoin is programmed to be limited to 21 million. Now, this may not seem like much for a cryptocurrency supposed, one day, to replace the dollar, so where does this number come from? When will it be reached? And what is all this talk about a ‘halving’?
We are just eight months away from the next (and third) “Block Reward Halving” — the halving of the number of Bitcoins awarded to a miner (or a group of miners) that decrypt the validation key for a new block on the blockchain. Even if a large majority of people I talk to on the topic pretend to understand the ins and outs of the previous sentence (particularly those that work in finance or politics), in reality almost no one understands how all of this works, and why it is truly innovative. Unfortunately, as with the composition of our national football team, this does not, however, prevent these same people from having a precise opinion on the topic, and its technical and economic potential.
To avoid falling into this category, and because we can only invest efficiently when we fully understand what we’re investing in (and use it regularly, as Warren Buffet would add), let’s figure out what all this really means. Bitcoin, Blockchain, Blockset Transactions...
The blockchain is a sophisticated type of database (or decentralized digital register) invented by Satoshi Nakamoto to facilitate the operations of a digital currency - Bitcoin.
It is constituted of blocks of a similar size (between 0.7 and 1.3 Megabytes), each of which are composed of transactional data. The number of transactions that make up a block is variable: miners choose how they compose the block they “mine”. However, the miner is incentivized to compile as many transactions as possible into a block because each transaction enables the miner to receive a payment (or “transaction fee”) in addition to the block reward if its block is validated and enters the blockchain.
The validation of a block takes place when the “cryptographic key” is resolved by the calculations of the miner — this is known as the “target hash”. Simply, the miner’s computer is trying to solve a complex calculation by hashing (guessing, attempting) the answer. The difficulty of this calculation adjusts itself at regular intervals so that the calculation time required for the hashing of a block remains around 9-10 minutes. If the hardware (ASICS chips, for example) and/or algorithms are evolving, or the network of miners is expanding (and with it the mathematical likelihood that a miner will complete the hashing of a block in less than 9-10 minutes), then the difficulty will adjust. Similarly, if the network of miners shrinks, then the difficulty will be reduced. Ver matéria
Bitcoin BTC Manipulation Continues To Confuse Traders Before The Big Move
After the manipulation that resulted in a 43% pump in two days when hundreds of millions of shorts were liquidated, the market makers and whales have become quite comfortable playing these games over and over. Why? There are no consequences! In the absence of regulation the big players keep manipulating the market in ways that I have not seen even in the penny stocks market. Even if regulators were to come down to investigate, they would pay a small fine and it will all be forgotten. The point is, when the stakes are this high; these games will continue to be played. This desperation should tell you what is about to come and why the big players keep confusing retail traders around points where a decline is expected.
It is very important to realize that at this point once again a lot of people are expecting a decline just like when the price was trading around $7,400. A lot of traders that entered short positions around that point were taken aback when the market moved against them in an unprecedented case of manipulation. However, it can still happen again and therefore traders need to be very careful expecting a decline without a confirmation. The 4H chart for BTC/USD shows the price trading above the 200 MA. As long as it remains above that level, there is no rush to enter bearish positions. That being said, if the price were to crash below the 200 MA, it might decline very aggressively because this time a lot of people are waiting to get out of the market should that happen.
The daily chart for BTCUSDLongs/BTCUSDShorts shows that we might be about to see a sharp decline in the number of longs against shorts. We can see that the ratio is still around its all-time high and therefore on the verge of a strong decline. The vast majority of traders remain largely optimistic and hopeful of the beginning of a new bullish cycle. It is surprising how so many traders think we are out of a bear market when everyone is looking for a new all-time high. When Bitcoin (BTC) bottoms, very few people think of a new all-time high because the majority is thinking whether Bitcoin (BTC) will even survive or not. So far, we have not seen anything of the sort happen, not even close. The market has inflicted some serious pain on the bears but the bulls have yet to see any pain. We are long way from when BTC/USD finds its true bottom. The market can stall the next downtrend but it has to happen before the beginning of a new cycle. Ver matéria
Bitmain Launches Next Gen Miner as Bitcoin Hashrate Touches 100 Exahash
Last Thursday the China-based mining rig manufacturer Bitmain announced the launch of two new Antminers that offer hashrates between 53 to 64 terahash per second (TH/s). When the Antminer sale started on Monday, first batch devices sold extremely fast and Bitmain expects to deliver units by mid-November. Meanwhile, the combined SHA256 hashrate (BCH and BTC) has grown exponentially, touching 100 exahash per second (EH/s) on Tuesday.
Also Read: Plans to Build $50M Bitcoin Cash Tech Park Revealed
Bitmain Launches Two New Next-Generation Miners With Hashrates of 53-64TH/s Mining coins like BCH and BTC is extremely competitive and recently mining rig manufacturers have been launching next-generation devices making the competition even greater. Last week, on Sep. 5, Bitmain Technologies announced the launch of its newest set of Antminers after releasing multiple versions of SHA256 mining rigs over the last few months. The latest versions include the Antminer S17e and the T17e which will be sold in three batches. According to Bitmain’s specifications, both machines have been optimized to perform with “significant improvements to power efficiency and hashrate.” The S17e has an average hashrate of 64TH/s and 45 joules per terahash (J/TH). The Antminer T17e offers hashrate speeds of up to 53TH/s and power efficiency of roughly 55J/TH. So far both batches of the new Antminers have sold out and the last sale will end Wednesday morning on Sep. 11.
In addition to the new Antminers, Bitmain introduced a compensation strategy for delivery delay. So if mining rigs are not shipped on the specified delivery dates then Bitmain will compensate customers with coupons for each day of delay, based on PPS rewards of the mining pool and electricity cost deducted. Bitmain explained that both new models have been created for better efficiency and longevity as well. “Both new models have been designed for more stable operations in the long-term to reduce maintenance costs for customers,” Bitmain detailed last week. “This is made possible through the dual tube heat dissipation technology which improves how efficiently heat dissipates. The models are also equipped with a more secure software system to prevent malicious attacks.” Ver matéria
Bitcoin Volatility Sinks to Its Four-Month Low. Analysts Claim It s Calm Before the Storm
An unsettling calmness
As reported by U.Today, market analyst Jim Wyckoff is certain that Bitcoin will continue its streak of sideways trading in the coming days, which essentially means that the top cryptocurrency will become even more stable.
However, multiple analysts believe that this is simply “calm before the storm.” BitBull Capital CEO Joe DiPasquale claims that Bitcoin’s unprecedented stability will “bode well for its future valuation.”
John Bollinger predicted a major price move that could bring more volatility to the market. Meanwhile, Peter Brandt cannot ignore a forming descending triangle.
Things change fast Back in May, Bitcoin was ranging in the $7,000 region before surging to almost $14,000 in July.
Hence, it might not take long until BTC starts showing its volatile side once again with both shorts and longs being wiped out left and right.
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Bitcoin Flashback To Bearish 2018: Is BTC Forming Another Descending Triangle With Target At $6,100?
Bitcoin has been on a rollercoaster over the past few days, after rebounding at $10,000 only to reach the resistance at $10,800 and rolling over to return down to $10,000, where it traders now.
Looking at the Bitcoin weekly chart, we can see that the coin might be forming a descending triangle pattern. The interesting thing to note is that this pattern is remarkably similar to the massive descending triangle seen during most of 2018. The last was finally broken during the middle of November 2018, ignited the gigantic drop from $6,000 to 2018-low at $3,120.
Two Similar Triangles: Different Size Analyzing the weekly chart above, we can see that Bitcoin has been trading within the triangle over the past few months now. The Bitcoin price had surged from April through June 2019 but had failed to break above the Fibonacci retracement level at the $13,500. As a reminder, the breakdown of the 2018 triangle resulted in Bitcoin price dropping roughly 45%. Similarly, in the current descending triangle, a breakdown of the bottom of the triangle would technically predict a target of approximately $6,100 (measured as the pole of the triangle) which is roughly a 36% price drop. On the other hand, if the bulls can defend the lower boundary of the triangle and push higher to break above the upper boundary eventually, this pattern will likely to become invalidated.
Bitcoin Analyst Tone Vays Talks $7,000 BTC/USD and the Price Rise from $4K to $14K Value
He talks about the possibility of $7,000 BTC/USD exchange rate risk on top of what was the main drivers behind the $4,000 to $14,000 rise since April 2019 to now. He does reference the $9,600 resistance level as a key support area to see if we would dip back that low as the price of bitcoin currently sits at $10,137 with a market dominance of 69%.
He believes much of it is due to altcoin outflow back into Bitcoin and some institutional investor interest mixed in. Ver matéria
Bitcoin Nearing $10,000: Is it Too Late to Buy?
Is the phoenix rising again? The “phoenix” I’m referring to is none other than the world’s most popular digital currency. In a matter of 29 days and as of June 1, the price of Bitcoin (BTC) has increased by 48.5% to $8,564.02. Also, Bitcoin’s closing price to end May was its best monthly close since 2017.
Naturally, the “rabid” followers of BTC are expressing confidence. The crypto is regenerating and beginning to rise from the cloud of darkness. They see a large price movement, pointing to the direction of $10,000. For investors looking for bigger gains, is it too late to buy Bitcoin?
Nagging question Many in the cryptocurrency market were hoping that BTC would zoom past $9,000 during the last week of May. The price already surged slightly above $8,800 to start the week. However, the crypto encountered slight instability. The price dropped to $8,320 on Thursday before recovering to end the week higher.
Ever since the disaster in late 2018, when the price tanked to a low of $3,150, Bitcoin’s stability remains in question. The recent increase is not enough to say there is a rebirth. But followers will argue the strength is returning. What was destroyed will be restored. Ver matéria
Previously Inactive Whales Are Moving Large Amounts of BTC
Earlier this week, armchair sleuths began pointing out that large amounts of cryptocurrency from long-dormant addresses have been on the move. For instance, one wallet that’s been inactive since its inception in 2013 recently moved 66,452 BTC — worth around $245 million — to an unknown address. Hours later, a few more addresses from the top 20 rich list moved another $728 million worth of BTC. Ver matéria
BITCOIN PRICE FLASH CRASHES TO $6.1K – HERE’S THE LIKELY REASON WHY
WHALE DUMP, ‘FAT FINGER ERROR,’ OR BOT GLITCH
A trader on the Bitstamp exchange reportedly put up a sell order of 5,000 BTC at an oddly low price of $6,200. This move caused a massive price plunge on the exchange, setting up a temporary arbitrage opportunity.
The effect soon spread across the market to other exchanges with the BTC market average falling to about $7,100. As at press time, Bitcoin had rallied to $7,300 on most of the popular BTC exchange platforms. Ver matéria
Brazil inflation leads to increased Bitcoin trading volumes
Brazil’s inflation rate has reached 4.58%.
Brazilian cryptocurrency exchanges traded more than 100,000 BTC right before the announcement of the inflation.
Brazil’s inflation rate raised to its highest level in four years which spiked Bitcoin’s trading volumes. The inflation rate has reached 4.58%. Since President Jair Messias Bolsonaro took office on January 1, 2019, Brazil’s inflation rate has spiked upwards. The Rios Times states:
“The latest result of the IPCA was the highest for the month of March since 2015. The IPCA, which measures the country’s official inflation, rose by 0.43 percent in February, and 0.09 percent in March of last year.”
Right before the announcement of the inflation, Cointrader Monitor, a monitoring tool that analyzes Bitcoin price movements in the country, announced that Brazilian cryptocurrency exchanges traded more than 100,000 BTC on April 10, 2019. This surge in trading volume happened despite the country’s regulators and traditional banks doing everything in their power to disrupt Bitcoin exchanges. Recently, Santander shut down the account of the Bitcoin Max exchange. This decision was reversed by another judge last February as Santander had failed to provide “prior written communication of the intention to terminate the contract.” Ver matéria
Crypto Daily Market Watch: Bitcoin Continues to Hold Strong Above The $5000 Mark As The New Week Starts
Despite the correction that almost followed the bullish streak over the past week, as of now, Bitcoin seems to hold strong above the $5000 levels, with its press time price hovering around $5,074 (Bitstamp), a 0.35% decline in value within the last 24 hours.
Ethereum and Ripple are also recording slight losses with their current prices floating around $163 (market cap of $17 billion) and $0.325 (market cap of $13.6 billion) respectively.
Overall, it looks like the heavy traders had gone off to their weekend vacations and the real action will start tomorrow when a new week starts.
The total market cap is ~$172 billion | Bitcoin’s market cap is ~$89.7 billion | BTC dominance is at 52.1%
Samsung SDS, Mahindra join forces for blockchain technology: Samsung SDS, a subsidiary of Samsung Group, has reportedly signed a partnership with Mahindra, an Indian IT giant Tech to explore the opportunities of the international blockchain market.
Aussie Banks Still Cold to Cryptocurrency Businesses Despite Regulation: Despite the implementation of regulations in the Australian crypto market, local banks in the country continue to tread with caution when dealing with crypto-related businesses.
Elon Musk Mentions Crypto For The Umpteenth Time: Should We Care?: Elon Musk, the brain behind Tesla and SpaceX, is still bullish on cryptocurrencies and continues to entertain the twitter community with his humour, and this time noting that cryptocurrency is his “safe word.”
Most Significant Gainers And Losers Puregold Token (112.34%)
Puregold Token (PGTS) is on a bullish streak despite the current market downturn. Although PGTS experienced a sharp decline which dropped its price from $0.036 to $0.012 within the last two days, a price correction was quick to follow: The small-cap altcoin now trades at $0.039 with a market cap of $443,212.
Despite the violate price movement of CyberVein (CVT), the altcoin is one of the most significant gainers over the last 24 hours. CVT traded at $0.01 on April 13 but now boasts of a price of $0.022 and a total market cap of $23,457,113.
DEX (DEX), the official token of the Coinbit exchange, is recording the most significant loss among cryptocurrencies with a minimum market cap of $100K. Losing more than 20% of its value against the USD, DEX currently trades at $0.041433 with a daily volume of $2,223,857.
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Bitcoin Hovers Near $5,100 as Top Cryptos See Slight Losses
Saturday, April 13 — most of the top 20 cryptocurrencies are reporting slight losses on the day by press time, as Bitcoin (BTC) hovers just over the $5,100 mark.
Bitcoin’s price is up about half a percent on the day, trading at around $5,107 by press time, according to CoinMarketCap. Looking at its weekly chart, the current price is also just half a percent higher than the price at which Bitcoin started the week.
Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $17.4 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $13.7 billion by press time.
ETH has seen almost no change over the last 24 hours, down a fraction of a percent. At press time, ETH is trading around $165. On the week, the coin has also seen almost no gross change, but reported a mid-week high of $184 on Monday.
Among the top 20 cryptocurrencies, the only one reporting notable gains is Binance Coin (BNB), which is up almost three percent. BNB has seen slightly more gains on the week. The total market cap of all cryptocurrencies is currently equivalent to $173.1 billion, which is close to two percent lower than $175.6, the value it reported a week ago. As Cointelegraph reported yesterday, French insurance markets can now invest in cryptocurrencies, following the passage of a new law. Today, Cointelegraph reported that the research arm of major cryptocurrency derivatives platform BitMEX estimates that Bitcoin SV (BSV) miners have accumulated gross losses of $2.2 million. The report released by BitMEX Research claims that BSV miners perceived a negative gross profit margin of 12% since the coin was created in a hard fork that split Bitcoin Cash (BCH). Ver matéria
Bitcoin Cash Technical Analysis: BCH/USD bullish pennant pattern formation subject to breakout higher
Bitcoin Cash Friday saw a decent bounce back, trading in positive territory up some 4.00%.
BCH/USD bulls looking to retest the high area seen at the start of the week, up around $320.
Price action via the daily chart view is moving within a bullish pennant structure.
China is kicking out Bitcoin mining — what happens next
China’s National Development and Reform Commission (NDRC) released guidance (PDF in Chinese) on Monday that includes shutting down Bitcoin mining — and even the manufacture of mining hardware. From the South China Morning Post:
Industries in the eliminated category include those seen as wasting energy or polluting the environment, according to rules enacted by China’s cabinet in 2005. Investment and loans in those industries are banned. During the elimination period, authorities are allowed to raise electricity prices for relevant businesses to force them to close. The manufacturing, sale, and use of products in the eliminated categories are also prohibited.
Bitcoin mining is one of the sectors to be eliminated immediately.
This isn’t new — China started pushing the miners out over a year ago.
Why China hates Bitcoin
China has been slowly pushing Bitcoin out for a while now, particularly since the People’s Bank of China (PBOC) shut down the exchanges — they were worried that foolish crypto speculators might somehow mess up badly enough to affect the real economy.
Bitcoin mining moved to China because it had some of the cheapest commercial electricity in the world — 2.9 to 4.3 cents per kilowatt-hour. But quite a lot of Bitcoin mining in China ran off stranded surplus generation capacity, both hydroelectric and coal — power plants that weren’t well-connected to the national grid, or were in already-oversupplied areas, so the electricity wasn’t useful for anything else.
The national grid is much better connected now, and they don’t have so much stranded capacity. So the PBOC started pushing miners out in January last year.
Some are already saying the Bitcoin shutdown is meant to stop capital flight in the form of bitcoins — where you buy electricity for mining in yuan, then sell the bitcoins for dollars. But this seems to have been negligible — the Council on Foreign Relations says that “Bitcoin may have been a proxy for downward pressure on the yuan, but bitcoin outflows only ever made up a very very small amount of Chinese capital outflows.” Local analysts were also sceptical that this was ever much of a thing. Ver matéria
Fundstrat’s Tom Lee Says the Bitcoin (BTC) Bull Market Is Back
Lee sees Bitcoins recent move above its 200-day moving average as a very bullish sign.
Tom Lee, a serial CNBC contributor and co-founder of market strategy firm Fundstrat Global, believes that the Bitcoin (BTC) bull market is back after this week’s 20% move.
In a recent interview with Bloomberg, Lee broke down where he sees the market going, citing the fact that Bitcoin recently broke its 200-day moving average as a very bullish sign.
While no specifics were provided, Lee noted that he has first-hand knowledge that major investors are beginning to re-enter the crypto markets. “A lot of them sold, in early 2018, that’s dry powder, they’re starting to put that to work,” Lee told Bloomberg.
Back in December, Lee estimated that Bitcoin’s fair value was between $13,800 and $14,800, roughly 180% higher than the current price of $5,061. Ver matéria
How Long Will Bitcoin Stay Above $5,000?
It is now no longer news that less than a week ago, there was an unexpected and pretty shocking price surge that saw Bitcoin crossing over $5,000 for the first time in about four months.
This spike also affected other coins as their values also increased by a considerable margin. The news came with a lot of excitement for investors and cryptocurrency proponents but also left a sour taste in the mouths of naysayers and people who seemed to always air their distrust of the sector.
However, a recent post by a user named ‘Smilinmong’ on the r/CryptoCurrency thread on Reddit seems to predict a change in the market and encourages people to be ready for it. The post said:
“Three 7,000 BTC buy orders were the catalyst for this recent pump. That’s 0.1% of the supply bought up instantly. In 416 days the number of bitcoin created every 24 hours cuts in half. 328,500 LESS bitcoin will be created per year. This pump was just the start. Be ready.”
Will there be a Dump in the Near Future? There are many reports that have corroborated Smilinmong’s claim that an unprecedented amount of BTC was bought at the same time. The whales surprisingly moved these huge amounts – which constitutes 0.1% of the entire available BTC – from some major exchanges to unknown wallets.
This is a significant cryptocurrency pump that saw the price rising considerably. Regardless it is necessary to consider the likely effects of a possible and almost inevitable dump. Anyone who has any interest in the sector – especially hodlers – has to wonder what will happen when the movers and shakers decide to dump their BTC.
How will the next Bitcoin Halving Impact the Market? The current price which is still above $5,000 is a little exciting but is still nothing compared to the all-time high price of $19,783.06 which happened in December of 2017. However, with just a little over 400 days left till the next halving, there’s a chance that there’s still good time before a dump occurs.
It’s still too early to predict definitively, how people will react but a fair question to be asked is – how long will BTC stay above $5,000? A few months ago when it was below $4,000, there were some predictions by analysts that any surge that shoots the price above $4,500 will make it almost impossible for the price to ever drop below $4,000.
However, with the possibility of a dump and the halving coming next year, one might wonder whether or not these predictions should be taken with a pinch of salt. Ver matéria
Bitcoin Price Could Soon Surge to $7,000
This week has been a big one for Bitcoin.
The price of the world’s largest cryptocurrency by market capitalisation soared 20 percent in under an hour on Tuesday.
Following a period of time in bear territory, there is a mounting sense that Bitcoin is back.
So much so, I’m calling that the cryptocurrency market has bottomed, and the crypto winter has reached its end.
It’s my view that Bitcoin will now move up over the coming weeks and months, leading to steady gains for investors. With Bitcoin being the largest digital currency by market cap, this will have a positive effect on prices in the broader digital currency sector.
In the early of hours of Tuesday, London time, the price of Bitcoin surpassed the $5,000 mark, the highest point since November last year. Other major cryptocurrencies, such as Ethereum, XRP and Litecoin have experienced gains of around 10 per cent.
As such, this remarkable leap could potentially attract a large number of investors who have been waiting on the side lines.
Furthermore, it will likely rekindle institutional interest.
At the end of last year, I was quoted saying Bitcoin and other leading digital currencies were on the verge of a global breakout, predominantly due to FOMO, or the fear of missing out.
Indeed, cryptocurrency adoption is continually increasing. This is indicated not just in the financial sector – with major banks looking toward crypto and blockchain more and more – but also some key names within the technology and retail sector as well.
There is a rising perception amongst institutions that unless they truly embrace crypto and get behind the sector, their competition could advance, move out in front, making it incredibly tough to catch up. Of course, this is certainly the case as their customers are becoming increasingly keen to consider cryptocurrency opportunities.
As it stands, it is now widely regarded that cryptocurrencies are inescapably the future of money, and right now the environment is right for a prolonged rise in prices.
Therefore, I believe we could realistically see the price of Bitcoin reaching $7,000 over the next few months.
Read Newsmax: Bitcoin Price Could Soon Surge to $7,000 | Newsmax.com Ver matéria
What Just Happened To Bitcoin BTC? Crypto Analysts Explain
What. The. Hell.
As reported by Ethereum World News earlier today, Bitcoin (BTC) suddenly spiked straight out of left field. Within minutes, the cryptocurrency found itself above $4,200 after trading right under that resistance level for a number of days, even weeks. While BTC breached $5,000 for a brief period during Tuesday morning’s sudden spike, the market has since pulled back slightly to $4,650, as buying pressure has subsided from the Asian and European markets.
However, some are hopeful that with the opening of the American trading session, investors across the pond of Europe on Wall Street will be subject to FOMO, thereby creating a second wave of buying pressure. It isn’t clear if this will occur, as some have postulated that this move was a result of always-on bots, but crypto investors across the board are rather hopeful.
Bitcoin Analysts Explain
Save for a few soothsayers, this move caught many traders with their pants down. In fact, crypto Youtuber Sunny Decree recently joked that he recently made the “worst trade since [he] got on Youtube”, as he shorted $4,200. The fact is, there wasn’t a clear fundamental catalyst that drove this move. Sure, fundamentals for the ecosystem have recently been booming, with there being continual macro factors, institutional announcements, and technical developments that have been an underlying boon for the industry. But, many are sure that Tuesday’s move, which brought BTC from $4,150 to $4,650 — a move of ~14% — was a result of pure technicals.
In response to a comment about the sentiment that CNBC is going to cover the crap out of this Bitcoin news tomorrow, industry trader The Crypto Dog explained that this move was simply price seeking liquidity. With there being relatively little volume, as seen by the lack of a large green candle below, this might not have been the ‘whale buy order’ that some looked to. And once $4,200 was breached, there was little friction in the order books in the mid-$4,000s, in spite of there being important resistance zones in that region. Thus, a short squeeze, or “cascading liquidations” as The Crypto Dog called it, perpetuated Bitcoin’s brief spike to $5,000+. Ver matéria
Reuters: One ‘mystery’ buyer pushed Bitcoin over $5,000 20,000 BTC was bought with algorithmic buy orders
Bitcoin $BTC▲13.64% has been pumping. Over the past six hours, its value has jumped as much as 20 percent, and a recent report has claimed a “mystery buyer” is responsible. During Asian trade, Bitcoin‘s value broke $5,000 for the first time since November last year, marking the biggest one-day gain in the past year, Reuters reports. Trade has since calmed, with the price remaining steady at around $4,700 across major exchanges. The last time Bitcoin was over $4,500 was back in November 2018, around five months ago. Oliver von Landsberg-Sadie, head of a cryptocurrency brokerage firm, told Reuters the movement was likely the result of a single buyer, who used a computer algorithm to trigger the purchase of $100 million worth of Bitcoin spread across a number of exchanges. Ver matéria
Bitcoin Price Surges 13% in 30 Minutes
On Tuesday (April 2), around 07:20 UTC+1, the Bitcoin (BTC) price started a fast and furious rise to $4,740, an increase of over $542 in 30 minutes.
At press time (08:10 UTC+1), according to CryptoCompare, the BTC price has retracted slighly from its intraday high to settle around $4,679.1, i.e. an increase of 13.1% in the past 24-hour period:
Altcoin Price Movements Suggest Potential Crypto Market Sentiment Reversion
The cryptocurrency market appears to be making a recovery as the prices of several altcoins surged by double-digit percentages in the past few weeks. The price of bitcoin, the world’s most dominant cryptocurrency, also appears to be in recovery mode as it’s currently trading above the $4,100 mark - according to CryptoCompare data. According to prominent crypto trader and investor, Alex Kruger, the cryptocurrency bear market “has been over for three months now.” Kruger has also predicted that if bitcoin manages to break past $4,200, then it could potentially “mark the end of the bear trend that started in January 2018.” Kruger: Bearish Trend Could End If BTC Surpasses $4,200 Kruger further clarified that his statements regarding bitcoins price was “not a call.” He explained that from strictly a technical standpoint, the price movements that are considered “bearish” (which began in early 2018) should end if BTC surges past $4,200. Ver matéria
Crypto Trader Claims All Eyes Should Be On Bitcoin (BTC): Most Important Week Ever
Analyst CryptoBirb recently claimed that the upcoming few days will be of utmost importance to Bitcoin (BTC). In fact, in a recent Twitter comment, he remarked that this could very well be the cryptocurrency’s most importantly weekly close “ever,” as key one-day, one-week, one-month, and one-quarter candles close here. All this also comes as Bitcoin has been testing a resistance trendline, which haunted BTC at $8,500, $6,500, and potentially at $4,200 now.
With there purportedly being “massive moves on blockchain” in recent weeks, likely touching on the uptick in both trading volume and transactional throughput, he writes that the market is getting ready for three scenarios.
Bullish: Birb claims that the bullish scenario will see BTC soon breakout above $4,400, which could easily bring it to $5,200 due to a gap in order book resistance in that range. However, this doesn’t mean that BTC is ‘home free’. The crypto will then need to test $5,800, which the trader sees as the ultimate test as to whether Bitcoin will enter into a bull run or not. $5,800 is, of course, where BTC bottomed in the summer of last year. Fakeout – Neutral: A fakeout scenario would see BTC break above $4,200, an auspicious resistance level, and then fail to surmount $4,400, potentially leading to a scenario where the crypto market range trades for months.
Bearish: Last but not least, this harrowing scenario would see $4,200 get rejected hard, thus leading to a “depression” in the market. This would result in a massive downside wick, potentially bringing BTC between $1,360 to $1,758, before a slow uptrend to an eventual bull market.
Upside? Downside? While CryptoBirb didn’t give an explicit directional forecast, some are sure that upside is in the cards. Technical analyst CryptoHamster recent drew attention to Bitcoin’s one-month chart in a bid to express that market conditions could be improving, believe it or not. He writes that if you factor in the Heiken-Ashi Candle structures, which track trends rather than explicit movements, a breakout could be in store.
The first green monthly candle has been witnessed since April. On top of that, February’s green candle was underscored by a large uptick in volume, preceded by a slow uptrend, leading Hamster to claim that further moves higher could very well be in Bitcoin’s cards.
Filb Filb seems to also be under the impression that the bullish scenario is likely. He recently took to Twitter writing that if Bitcoin repeats the price action it underwent late last year, but reverse, it could spike to $6,000, thus killing the crypto bear that has plagued this market since late-2017.
In another analysis, he opined that the 12-hour moving average convergence divergence (MACD) has trended positive above zero. The chaikin money flow has purportedly signalled that there is underlying buy-side pressure in this market. And, more importantly, the cryptocurrency has begun to make a move on the $4,000 range. Ver matéria
Bitcoin is about to set another record and this might actually be a good one
Bitcoin has set a number of records over the past year or so, most of them bad, but the most famous digital currency is on the verge of setting a mark that may give crypto pundits something to cheer about. According to Dow Jones Market Data, the monthly trading range of bitcoin for March stands at 7.8%, which if holds, would be the least volatile on record. Volatility is in itself a neutral signal. Historically however, low-volatility periods in BTC have always preceded prolonged bull runs, especially after capitulation moments of high momentum as seen in November and December,wrote Murad Mahmodov, cryptocurrency analyst in a note to MarketWatch. Ver matéria
Once Breakout Is Confirmed, Bitcoin Could Rally To $5,500
Bitcoin Could Surge By 35%
Hopium has seemingly started to return to the crypto market en-masse. Sure, Bitcoin (BTC) and other digital assets are trading sideways, but the sentiiment displayed by cryptocurrency investors is buoyant.
GalaxyBTC, a leading analyst and self-proclaimed accumulation machine, recently revealed why there’s a likelihood that BTC could easily break to $5,500 in the near future.
He drew attention to a study from Thomas Bulkowski, a leading stock market trader. Galaxy states that more than 60% of ascending triangle patterns that are experiencing declining volume break upward. Each of these breakouts yield an average rally of 35%.
In response to Galaxys simple analysis, commenters expressed optimism. Anton Pagi wrote that it looks as though Bitcoin has entered an A&E bottom with a handle pattern, setting a strong precedent that a long-term floor may be in.
It is important to point out, however, that the average pullback if an asset fails to break convincingly above an ascending triangle is 19%, meaning that $3,300 would be the low-end target. Ver matéria
Bitcoin At $400,000 Isnt A Fools Paradise, Claims Crypto Analyst
Analyst Calls For Bitcoin To Breach $100,000 Or Even $400,000 In Next Rally Its been over 15 months since Bitcoin breached $20,000. And since then, mainstream media, cynics, and representatives of traditional institutions have done their utmost to put down cryptocurrencies.But, industry commentators have kept their heads high, as they await BTCs next move higher. Naeem Aslam, a crypto-friendly analyst at Think Markets, recently divulged his thoughts on the current state of the digital asset market. Unsurprisingly, he was rather bullish. Ver matéria
Bitcoin Price Analysis: BTC/USD another big dangerous test by the bears
Bitcoin price back in the control of the market bears, nursing losses of over 2%.
BTC/USD bears are testing the key daily ascending trend line to the downside.
Bitcoin price in the latter part of trading in the session on Thursday, nursing losses of some 2.35%, as the market bears regain control. Cooling has been observed across the cryptocurrency market, as Bitcoin struggles to hold the $4000 price mark.
The bears have been pressing and testing the key daily ascending trend line to the downside. A breach is very possible given the current pressure. The noted running support has been in play since 6th February, a breach could very devastating.
BTC/USD could be victim of chunky selling pressure should the comfort line give way, eyes on $3900, where the trend line is currently tracking. A breakout south could open the door to a retest of $3000 to the downside. Ver matéria
Bitcoin Price Predicted To Hit $6000 In The Coming Weeks
Ever since the bear market started, cryptocurrencies, in general, have had their values significantly lowered and continuing struggle to regain their former glory.
For example, the last few months have seen the price of Bitcoin staying pretty dormant and fluttering up and down by very ignorable margins.
However, the sector is currently awash with excitement as Bitcoin, on Monday, successfully rose above the $4000 mark and some even expect it to rise even higher.
Even though its the recent peak of $4050 is still a long way behind its all-time high price of $19,783.06, stakeholders are generally hopeful that things would eventually improve significantly.
Possible Rise in Bitcoin Price Cryptocurrency analyst, trader, and organizer of the upcoming Understanding Bitcoin Conference – Tone Vays – has expressed optimism about the future of Bitcoin. According to Vays, if Bitcoin continues to rise steadily enough that it crosses the $4200 mark, it could mark the beginning of substantial improvements for the crypto. Ver matéria
Dubai sees 1st Bitcoin ATM at Rixos Premium on JBR
Dubai – Mubasher: The emirate of Dubai has seen the installation of the first Bitcoin ATM at the five-star Rixos Premium Dubai Hotel at JBR.
The move enables residents and tourists to buy Bitcoin through an ATM using just cash, Khaleej Times reported.
At this kiosk, you just insert cash and you get Bitcoins instantly. It is possible to purchase Bitcoins through banking platforms and debit cards already but since we accept cash, it is very different. This is the first commercial Bitcoin kiosk in the city, Anhad Dhingra, CEO of Amhora, which holds the licence for the ATM, commented.
He added that customers will need an Emirates ID or passport to sell the digital currency later, and no documents needed to other than cash buy the Bitcoin.
Dubais Department of Economic Development has licensed the newly installed ATM.
Dhingra pointed out that the option of selling bitcoin via the ATM is also in the works and should be available in the coming months. Ver matéria
Top Cryptos Look Stable as Bitcoin Hovers Over $4,000
Sunday, March 17 — the top 20 cryptocurrencies are reporting very slight gains and losses on the day by press time. Bitcoin (BTC) has pushed back just over the $4,000 mark, according to CoinMarketCap data. Ver matéria
Market visualization from Coin360
At press time, Bitcoin is down under a quarter of a percent on the day, trading at around $4,037, according to CoinMarketCap. Looking at its weekly chart, the current price is over 2.4 percent higher than the price at which Bitcoin started the week. Ver matéria
Bitcoin Likely To Close The Week Above $4,000 But Uncertainties Loom Over
Bitcoin (BTC) is expected to finally close the weekly candle above $4,000 given its current outlook. The 1H chart for BTC/USD shows that the price has ample room to shoot towards the top right of the bullish gartley formation before the weekly close. This would set the ground for a steady decline in the weeks ahead as the bears assume control. However, this time around things are not so simple. While the bulls are not in charge, the bears seem to be losing control as well as the number of margined shorts has just topped out and we could see a strong decline in sell pressure starting next week. This means that the decline from $4,000 or higher to begin the fifth corrective wave to the downside might not be so simple and straightforward.
Considering that a lot of traders are expecting a sharp decline now that BTC/USD seems to have topped out on the weekly time frame, we expect that the whales might lure some bears into opening margined shorts at this point just to liquidate their positions soon afterwards. This would come in the form of a short squeeze which would result in margined shorts liquidated or forced to close which will lead to a bug spike in BTC/USD. That might end up trapping some bulls and only then the whales would pull the plug and force the price to decline. We could have seen the decline last week as well but the setup was not as confusing so the whales removed all hope of a decline by pulling the price around the weekly close so as to prevent a close above $4,000. Ver matéria
Bitcoin Inches Towards $3,900 Again. Is the Market Determined to Soar above $4,000?
Last week, the cryptocurrency market experienced quite a lot of price adventure. However early this week, the adventure was reversed so that Bitcoin (BTC) the leading cryptocurrency crashed to $3700 from last weeks Over $4,000 after hanging above $3,800 for some time However a few hours ago, the market has started to recover and Bitcoin is well over $3,800 at press time.
This is the first time in months since 2018 when BTC rose above $4,000 and crashed but established a resistance above $3,700 for a few days and started recovering again, rising above $3,800 within 24 hours. Although too early to say if this is a potential bull run, it is indeed remarkable and a good sign for the cryptocurrency and the market as a whole.
A closer look at the price of Bitcoin and Ethereum (ETH) also reveals something strange. The price growth has been disproportionate. ETH has always surged at a rate that seems to correspond with that of BTC. For instance in last week’s green market, at the price of $3,743 for Bitcoin, ETH was somewhere around $137. However, according to Coin Market Cap, BTC is currently trading at precisely $3,883.08 while Ethereum is at $135.42. What could be responsible for BTC’s relative speed?
According to an article published by marketwatch yesterday 4th of March, 2019 BTC trading patterns show a striking resemblance with those between 2011 to 2015 and 2015 to 2019. According to analysts Michael Graham and Scott Suh of Canaccord Genuity Capital Markets, if these patterns continue then Bitcoin will be heading to its all time high price of $20,000.
Looking ahead, if bitcoin were to continue following the same trend as in the years 2011-2017, the implication is that bitcoin would be bottoming approximately now and would soon begin climbing back towards its all-time high of ~$20,000, theoretically reaching that level in March 2021,they wrote. Ver matéria
Bitcoin Could Top 102K During The Next Crypto Bull-Run According To Past Market Cycles
Right from the early days of bitcoin, skeptics including world leading media outlets have always had a truckload of negative comments to say about the world’s most popular cryptocurrency. However, despite all the predictions of the inevitable end of the digital currency, BTC keeps growing strong over the years.
Although the crypto winter of 2018 has left many enthusiasts scratching their head, thinking of when the next Bitcoin price peak would be, a new historical report following this thread suggests that the price of Bitcoin could hit at least $102,000 per coin when it does happen.
A stroll down the memory lane A Forbes story in 2011 titled So, Thats the End of Bitcoin Then falsely predicted the end of Bitcoin, an event which sent the value of bitcoin to $15 from a price of $31.
According to the story, the Bitcoin bubble has burst and it will crash & disappear like Pets.com & Lehman Brothers, existing only in the memories of Economists.
In 2015, Jamie Dimon, CEO of JPMorgan dismissed Bitcoin when it slumped from $1,100 to $395, predicting that the digital currency will not survive over the long run and that people are only wasting their time.
However, four years after bashing bitcoin, JPMorgan announced the launch of its own cryptocurrency dubbed JPM coin. In 2018 when bitcoin dropped to $3,432 from an all-time high of almost $20,000, another Forbes story predicted that it was the beginning of its inevitable & inexorable death spiral. Future generations will read about bitcoin in a finance textbook as a curiosity & wonder what all the fuss was about. Ver matéria
Crypto Boomed Four Times Already, Bitcoin (BTC) Rally Seems Inevitable
If Trends Are Follow, Bitcoin Could Reach $336,000 Eventually Since Bitcoin (BTC) began to fall in early-2018, posting losses that would make even the most ambitious speculators cringe, mainstream media has claimed that the cryptocurrency is dead. In fact, over the past year, the number of Bitcoin obituaries has increased by dozens, if not hundreds, as the incumbents of the legacy world see the embryonic asset class as all but dead. But, as crypto personality $carface recently pointed out, this is far from the first time that BTC fell dramatically, as the general public banged the Bitcoin is dead drum. In a recent thread, the notable analyst explained that a minimum of over four times, BTC rallied parabolically before a drastic drawdown. The move from $20,000 to $3,150 was just the most recent cycle. Ver matéria
Vitalik Buterin Compares Bitcoin and Ethereum: BTC is Like a Calculator, ETH is Like a Smartphone
For Vitalik Buterin, creator of Ethereum, his project holds many advantages over Bitcoin, and he proudly illustrates with simple words why that blockchain 2.0 has enough merits to be the most important altcoin in the global marketcap. ETH: A Project Born As An Evolution of BTC In an interview for Business Insider, the mastermind behind ETH explained that he was initially quite involved in the Bitcoin community. Over a period of about two years, he not only began to actively participate in the community but also engaged in various crypto-related projects until he eventually left the university to become fully involved in activities related to the development of blockchain technologies. He later realized that Bitcoin could evolve. He began to study the possibility to expand the capabilities of Bitcoin but eventually decided to take one step further, developing a new, more efficient blockchain. The evolution that began with the Ethereum project opened a framework of options for users in the same way that smartphones changed the way society behaves. Soon after (dropping the university) I started to realize there were a lot more interesting things that you could do with blockchains than just a single peer to peer currency. And it was something that other people were starting to recognize at the same time. I came up with the idea behind Ethereum, this idea that blockchain was a built-in programming language as kind of what I thought was the simplest and most logical way to actually build a platform that can be used for many more kinds of applications. BTC is a Calculator, ETH is a Smartphone The creator of ETH compared the differences between both blockchains as the ones of a pocket calculator vs. a Smartphone. While BTC can do one thing very well, ETH -being Turing complete- gives users and developers a broader framework of possibilities thanks to Smart contracts and dApps: Think of the difference between something like a pocket calculator and a smartphone, where a pocket calculator does one thing, and it does one thing well. But really, people want to do all these other things. And if you have a smartphone, then you have a pocket calculator as an app, you have a music player as an app, you have a web browser as an app, and pretty much everything else. So basically, taking that same kind of idea of increasing the power of the system by making it more general purpose and applying it to blockchains. Ver matéria
Bitcoin vs. Ethereum: How Are They Different?
You may have heard of Ethereum. You ve almost certainly heard of Bitcoin. You may even have heard of people making fortunes off of them. What you may not have heard is what exactly these two projects are. What Are Ethereum and Bitcoin? Ethereum and Bitcoin are two different versions of the same underlying concept called a blockchain token. Each was invented to work as a virtual currency. To understand how these two projects work and differ, you first have to understand the concepts of blockchain and virtual currency. Ver matéria
Bitcoin price update: trend still undecided?
Bitcoins price still continues to bounce around the $3,000-4,000 range, failing to provide a convincing upswing to signal a definite new trend. However, the price has seen a bit more movement lately than during the prior days of intense consolidation. Ver matéria
Long Term Predictions: Will BTC Reach $100,000?
Ten years ago, a new mysterious digital asset came into the world known as Bitcoin. No one knew who built it, all we know is that it came from someone using the code name, Satoshi Nakamoto. The world has been speculating the long term value of Bitcoin ever since its creation.
Despite the current bear market sent Bitcoin close to $3,000, from its all-time high of $20,000, there is still believer out there that the leading cryptocurrency will reach over $100,000 and maybe even hit a million dollars.
One of these people that is the popular crypto investor and top author on the TradingView site. MagicPoopCannon asked a question to his some 21,000 followers on Twitter in the hope to find out what the collective crypto investing community thinks Bitcoin’s long-term value will reach.
For my long term view, I see Bitcoin going to at least $100,000 within four years. I think it could even reach $150,000 in that time. Eventually, I believe it could surpass $1,000,000. Where do you see BTC going in the long term?
— MAGIC (@MagicPoopCannon) February 26, 2019 Ver matéria
Chinese Bitcoin Miners Set to Activate One Million Mining Machines
A Chinese miner named Xu Feng has recently stated that as the season starts turning in various Chinese provinces, up to one million mining machines may start mining bitcoin, a move that could see its hashrate move up.
According to local news outlet 8BTC, Feng stated that as the raining season starts in May, cryptocurrency miners have been looking to set up operations in China since the beginning of the year. Per his words, the facilities in which he’ll be running his miners is fully booked – even though some areas are still under construction.
large amount of bitcoin mining machines [that were] shut down during Sichuans dry season will start running again in the upcoming wet season. The number is expected to reach 1 million. Ver matéria
Bitcoin Price Prediction: BTC/USD critical support being tested – Confluence Detector
Bitcoin price running within minor gains late on Thursday, up some 0.60%. BTC/USD price action is supported to the upside by an ascending trend line, which has been in play since 8th February. The Bitcoin price is trading in minor positive territory late on Thursday, holding minor gains of some 0.60%. BTC/USD has continued to trade with a generally cautious tone, something seen across the market, since the heavy fall on Sunday. BTC/USD price action has been very much supported by an ascending trend line, which has been running north since 8th February. It had provided the necessary comfort to allow the bulls continuing their current road of recovery. In terms of big barriers, a chunky area of supply can be seen tracking from $4000 up to $4500 price range. The price has not traded comfortably above this since November 2018. Looking via the confluence detector, significant resistance levels to note; $3859.30 daily 5 & 10SMAs, $3899.23, weekly 23.6% Fibonacci. Ver matéria
Bitcoin rises 2% but demand is still a serious problem, says analyst
What are analysts saying
Bitcoin failed to hold on to last weeks rebound [above $4,000] and slipped back under this psychologically significant level. If dip buyers were waiting to pounce on these discounts, they would have done so by now, wrote Jani Ziedins of the CrackedMarket blog.
The latest rebound failing to stick tells us demand is still a serious problem for the cryptocurrency and no one is coming to the rescue anytime soon. Ver matéria
Top 5 Cryptocurrency Prediction In 2019
It is clear 2018 was a bad year for the cryptocurrency market. The market drop came after the sector witnessed an unprecedented boom in 2017. Many began the year with great anticipation hoping that the impressive trend would continue. However, within the first quarter of 2018, the price of Bitcoin dropped by about 65 percent.
The drop affected all other cryptocurrencies. By the end of the year, the value of Bitcoin had declined by over 80% while other altcoins dropped by more than 90%. The massive drop has been attributed to a number of factors ongoing within the crypto sector. Increased regulation and fears regarding the regulations by SEC might have contributed to the crash. With scammy projects, some investors are opting to stay away from the industry.
However, with 2019 already here, many cryptocurrency enthusiasts are not sure about what to expect. The year has begun with mixed prospects. This leads us to the top five predictions of the cryptocurrency market in 2019.
Bitcoin Bear Market to End Bitcoin has declined by about 84% from its all-time high witnessed in 2017. This trend is almost similar to the 2013/2014 bear market where the rate of decline is the same. At the moment, Bitcoin’s price has bounced off from the 200 weekly moving average. Unlike other bear markets witnessed, the decline and the number of days indicate some correlation. Going into the future, the price of Bitcoin is expected to improve at a slow rate as the market cap grows. This scenario can be attributed to the maturity of the market.
On the hand, many crypto lovers had expected Bitcoin to have another high of $10, 000 by the end of 2018. By July, when Bitcoin was at $6000 support line many traders were hoping the maiden cryptocurrency will show some improvement. However, moving forward, their expectations were not realized. The bears that were late to the party are now calling for sub $1,000 prices. It is clear that market psychology in action. It is also a clear indication that the end is near for the bear market.
The market should not expect another Bitcoin bull market in 2019 but rather a slow grind sideways. Based on the bear market data available, the market can predict the period until we have a new Bitcoin high. Based on this prediction, we can only experience new highs and resumption of the bull market within the first quarter of 2021. Ver matéria
Bitcoin to the Moon Signs Appear on Ukrainian Tram
LED signs flashing the text Bitcoin to the Moon have been spotted on a tramcar in the Ukrainian city of Vinnytsia. Pictures of the signs appeared on social media just as the National Bank of Ukraine announced that it has completed a pilot project to launch its own digital currency called e-hryvnia. Ver matéria
John McAfee Affirms One Bitcoin Will Equal a Million Dollars Before The End of 2020
A British-American Programmer and the founder of McAfee Association declared with all assurance that one bitcoin will equal a million dollar by the end of December 2020. Speaking in an interview, the programmer said he will eat his private part if his prophecy doesnt come to pass. People are waking up to the fact that Bitcoin will be $1,000 000. But when? Someday. Maybe 5 years. WIthin a decade. Im the only one giving you a hard date Dec 31st, 2020. Ver matéria
Bitcoin Drops to $3,800
Bitcoin, the number one cryptocurrency by market cap is on its way to close its 10th consecutive session below the $4,000 mark, which has been seemingly acting as a resistance since December 28. According to CryptoCompare data, BTC is currently trading at roughly $3,800 after falling 0.65% in the last 24-hour period. Remaining below the $4,000 mark has taken its toll, as in the last two weeks it’s now down 5.33%. Ver matéria
Bitcoin Cash Is up 84% in Two Weeks
Bitcoin Cash (BCH), a cryptocurrency created through a hard fork of the Bitcoin (BTC) network in August of last year, has been rising at an impressive pace in the last few days, and is currently up over 85% in the last two weeks.
According to CryptoCompare data, BCH went from a $74 low to nearly $230 in only a few days, and has since seen its price drop back down to $196, where it’s trading at press time. The cryptocurrency has notably dropped about 98% from its all-time high of $4,000 before this recent rally. Ver matéria