Tag Archives: Bitcoin (BTC) Price

After a sharp drop that led BTC for another retest of $32,000, the asset has recovered and climbed back up to nearly $34,000, as of now. However, its dominance continues to decrease as some alternative coins have outperformed their leader, including XRP surging above $0.60.Bitcoin Eyes $34,000The primary cryptocurrency went through a roller-coaster on Friday after Tesla’s CEO Elon Musk updated his Twitter profile to include “Bitcoin” as the only description.The asset responded with an...

The narrative that institutional investors drove BTC’s price into the stratosphere in late 2020 received another confirmation from a research paper compiled by the popular exchange OKEx. The company’s document pinpointed Paul Tudor Jones’ endorsement of bitcoin in mid-2020 as the turning point for institutional adoption.PTJ Changed The Bitcoin GameIt was early May, the world had started to feel the adverse effects of the COVID-19 pandemic, global economies had begun contemplating their next...

The Bitcoin whipsaw continues as it failed to break the marked bearish triangle’s upper angle and immediately dropped by $2000 to hit the $32,500 support, provided by a .382 Fibonacci Retracement level.The outlook for Bitcoin looked promising on Friday following the tweet by Elon Musk. BTC price managed to break out to the bullish side of the descending triangle pattern. However, this breakout was short-lived and turned into a fake-out as the coin failed to close a 4-hour candle above...

The largest US-based crypto exchange Coinbase has classified bitcoin and several altcoins as institutional assets following the developments in 2020. In its yearly report, the company has confirmed the growing institutional interest, the maturing market, and, somewhat surprisingly, the expanding appetite from corporations towards ETH.2020 Established Bitcoin As An Institutional AssetThe challenging last year saw the emergence of Bitcoin as an asset fit to serve the needs of institutional...

Following the highly volatile few days in which BTC displayed $6,000 price moves in both directions, the cryptocurrency has calmed around $34,000. At the same time, XRP and a few more altcoins have exploded in value and reduced BTC’s dominance to 62.5%. Uniswap’s UNI token even hit $20.XRP’s Massive Surge Reclaims #4th SpotThe past few days have been anything but boring in the cryptocurrency space – from the retail-driven hype for Dogecoin and up to four-digit gains, through the Elon...

The BTC rollercoaster continues. The primary cryptocurrency had started to climb from $30,000 on Thursday as it broke the previous week’s range by pushing above $33,000.On Friday, a Tweet and a bio change from Elon Musk sent Bitcoin soaring as it broke this descending triangle and went as high as $38,620 (Bitstamp).Unfortunately, this push higher was short-lived. Eventually, Bitcoin reversed toward the end of the day as it dropped by a total of $4,400 to close the daily candle inside the...

After a highly volatile day prompted by Elon Musk’s Bitcoin engagement on social media, BTC has retraced back to around $34,000, as of writing these lines. Most alternative coins also went along the ride, and the total market cap has sustained the $1 trillion mark.Bitcoin’s 24 Hours Wild RideThe primary cryptocurrency was struggling in the past several days as it even dipped beneath $30,000 on a few occasions that were quickly bought by the bulls. As a result, Bitcoin dominance was fading,...

BitcoinBitcoin is up by a cool 20% over the past week as it currently trades near the $35,700 handle. The number 1 ranked cryptocurrency had been trapped within a range for the majority of the week as it oscillated between $33,000 and $30,000.Looking at the larger picture, Bitcoin was trading within a descending triangle pattern since hitting the new ATH price at $42,000 in early January 2021. It had spiked beneath the lower boundary of this triangle at $30,000 throughout the week but managed...

Bitcoin has to prove itself in order to become a reliable store of value. BlackRock CEO and founder Larry Fink said that the crypto asset might see a bright future, but firstly it has to endure and prove itself.Bitcoin is Still UntestedDuring a recent interview, BlackRock founder and CEO Larry Fink expressed his current opinion and predictions towards the world’s leading cryptocurrency in terms of market cap. Asked to share some thoughts on BTC, Fink said that the digital asset might see a...

The cryptocurrency market capitalization has exploded above $1 trillion as Bitcoin surged to $38,000 following a recent pro-BTC action taken by Tesla’s Elon Musk.The alternative coins joined the ride as well, including Ethereum touching $1,400 and XRP surging above $0.28.Bitcoin Touches $38K Following Musk’s EngagementCryptoPotato reported earlier that the primary cryptocurrency was struggling with maintaining its price above $32,000. While the bears were looming in, a compelling development...