Tag Archives: Bitcoin (BTC) Price

BitcoinBitcoin price increased by a total of around 10% this week as it blew past the $6,000 level to reach the resistance at $6,800. It did manage to spike as high as $7,000 but has failed to break above $6,800 for the past 4-days of trading and recently rolled over to reach $6,640.From above, the first level of resistance to break lies at $6,800. Above this, resistance lies at $7,000, $7,200 (bearish .5 Fib Retracement), $7,500, $7,700, and $8,000 (bearish .618 Fib Retracement &...

Bitcoin’s network went through one of its biggest difficulty adjustments just recently. While this had a quick and expected impact on the network, everything is back on track with blocks being produced on schedule.However, interesting performance data reveals that the price tends to increase following extreme difficulty adjustments, such as the one that was witnessed on March 26th. According to some analysts, this might be quite favorable for Bitcoin’s price in the medium term.Bitcoin Price...

A significant number of Bitcoin investors transferred extensive quantities of their holdings to exchanges during the most notable price slumps in mid-March. Ultimately, most of their panic sales were at a loss, according to the Spent Output Profit Ratio (SOPR) indicator.Bitcoin Investors Rush To Sell In PanicThe popular cryptocurrency monitoring resource, TokenAnalyst, studied the flow of Bitcoin into exchanges around March 12th, when the primary digital asset lost approximately 40% of its...

As Bitcoin continues to struggle to maintain the $6,000 price area, the formation of another technical pattern is raising some concerns. The cryptocurrency charted a Death Cross, which is something that should be taken into consideration, of course, as long as you follow technical analysis.The Third Death Cross Since 2018 IncomingFirst things first, it’s important to note that a Death Cross is a commonly referenced technical analysis setup. It occurs when the 50-day moving average line...

Over the past day, we saw the Bitcoin price trading inside the tight range between $6600 and $6800. A few hours ago, Bitcoin finally seemed to break successfully to the upside touching $7000; however, the primary cryptocurrency got rejected very quickly, plunging $400 immediately back inside the described trading range.Over the past weeks, we had mentioned the correlation between Bitcoin and the global markets. This correlation disappeared at some point, but as of writing these lines and over...

Bitcoin could reach $100,000, said the CEO of the leading cryptocurrency exchange by volume Binance. Changpeng Zhao (CZ) noted that printing trillions of dollars by the Fed during the current crisis makes it easier to believe that Bitcoin’s market cap could tap $2 trillion.Bitcoin To $100,000?The world is going through an unusual phase at the moment. The rapid spread of the novel COVID-19 led to closed cities, countries, and, ultimately, crashing economies. The stock markets felt the pressure...

Two days ago, while Bitcoin was consolidating around the $6000 level, we had anticipated a huge price move coming up.Looking at the following 4-hour chart, we can see that Bitcoin had found support upon the mentioned 4-hour MA-50 line (~$5700, marked pink), and following another Fed’s announcement, broke above the short-term descending trend-line.In the same price analysis from two days ago, we also mentioned the bullish divergence on the 4-hour chart, which might have proved an accumulation...

Bitcoin is yet to reach its yearly bottom, at least according to a recent Twitter poll. Despite surging with 80% since the March 13th low of $3,700, the majority still anticipate new price declines in BTC’s future.Pessimism Across The CommunityMarch 2020 has been quite volatile for Bitcoin and the whole cryptocurrency market. The primary digital asset had a monthly high of $9,200 before the coronavirus effect took its toll on all markets. In just a week, BTC plunged to $3,700 on various...

Although Bitcoin, among most financial assets, has lost a significant chunk of its value in the past month, Michael Novogratz remains positive. The CEO of Galaxy Digital Holdings recently predicted that 2020 will be the year of Bitcoin because of the macroeconomic backdrop.Novogratz: 2020 – The Year Of BitcoinIt’s safe to say that the past several weeks have been brutal in most financial markets, including the cryptocurrency scene. Some popular indexes plunged so hard that they had to halt...

The US Federal Reserve announced a new set of measures to help the market in the current ongoing crisis. Among these moves is an open-ended commitment to keep buying assets under the quantitative easing measures. The markets responded with an uproar, and Bitcoin followed, charting a quick 13% increase before retracing to its current levels.“Open-Ended Commitment” To Purchase AssetsThe Federal Reserve announced a new set of measures aimed at saving the collapsing markets. Among the most...