Tag Archives: Bitcoin (BTC) Price

So far, this weekend hadn’t been the best for the price of Bitcoin. The primary cryptocurrency recorded its lowest level over the last 30 days.Trading for $9800 just six days ago, Bitcoin dropped as of yesterday to nearly $8800 on most leading exchanges.The Good and The Bad NewsAs of writing these lines, Bitcoin is trading around the $9K mark, mostly below it. From a technical point of view, a strong support level that got broken down immediately becomes a huge resistance level.As can be seen...

The crypto investors suffer from hard days recently, as the primary cryptocurrency tumbled approximately $1000 over the past five days.After a long battle to maintain the $9K mark, Bitcoin finally lost, and immediately plunged to $8816 on Binance Futures exchange, which is the current daily low, as of writing these lines.Aside from a quick glitch on June 15, the last time the price of Bitcoin was trading below the $9000 mark was exactly a month ago, on May 27, 2020.Wall Street...

The CEO of SchiffGold, Peter Schiff, responded to claims by RT news host Max Keiser that he would end up panic-buying Bitcoin when its price hits $50,000. Schiff suggested Bitcoin’s dollar value would drop as low as zero – although implied Keiser might consider selling at $2,000.Shortly afterward, Bitcoin developer and Blockstream CEO, Adam Back, jumped in to claim that Bitcoin will one-day “flippen” the market cap of gold. In the meantime, says Back, it makes sense for goldbugs to allocate...

Popular cryptocurrency YouTuber recently posted a chart illustrating that if Bitcoin repeats its previous significant bull run from 2017, its price could exceed $300,000 by the end of 2021.Interestingly, this highly optimistic prediction corresponds with the well-known BTC stock-to-flow model.BTC To Over $300,000?Bitcoin price predictions are among the most commonly discussed threads in and out of the cryptocurrency community. Such forecasts range from overly adverse ones such as Jim Rogers,...

Only five days ago, the price of Bitcoin touched $9800, followed by another failure to break up the critical descending trend-line (marked yellow on the following daily chart).Since then, the primary cryptocurrency had been correlating with the plunging global markets, and as of writing these lines, Bitcoin is trading slightly above $9000.The Micro and Macro LevelIf we look at the micro-level, which is the following 4-hour chart, we can see that Bitcoin so-far holds the supporting blue line....

The last seven days weren’t so fruitful for Bitcoin. After trading in a relatively narrow range for a while before that, the BTC price gradually increased to about $9,700 on Wednesday. On the same day, however, the price tumbled during the same day and started declining.Immediately after that, Bitcoin retraced to about $9,000 before finding support and bouncing off to where it currently trades at around $9,200. The thing to consider about the movements is that they coincided with respective...

Virgin Galactic Chairman and Social Capital CEO Chamath Palihapitiya recently doubled-down on his advice that people should allocate at least 1% of their portfolio in Bitcoin as protection.He believes that if the asset skyrockets in value, it would be because of rather damaging world events and the lack of proper countermeasures by governments.Palihapitiya: BTC’s Lack Of Fundamental Correlation Is PositiveIn a recent podcast, the former Facebook executive noted that the US Fed and Treasury...

The notional value of Bitcoin options contracts set to expire tomorrow has reached a new record by exceeding $1 billion. With such a massive amount, the question remains how and if it will impact the price of the primary cryptocurrency.BTC Option Contracts To The MoonAs CryptoPotato reported shortly after the mid-March panic sell-offs, Bitcoin options trading volume was declining, especially on regulated exchanges. However, the tide has turned since then, according to the cryptocurrency...

Two days ago, when everyone was bullish watching Bitcoin’s astonishing move breaking above the $9400 towards the $9800 in a matter of hours, we mentioned the importance of the $9800 level.That level created another touch in the descending trend-line, which is marked yellow on both charts below. This was the ninth (!) attempt to break that tough resistance. Guess what? Nine attempts – zero success (aside from the fake-out on June 1st).When you don’t score, the other team will. And when Bitcoin...

Bitcoin suffered a 3% price drop on Wednesday, coinciding with the largest flow of BTC from miners to exchanges in over a year.BTC Flows From Miners to ExchangesThat’s according to data from blockchain analysts at Glassnode, which showed a huge transfer of 2,650 BTC going from Bitcoin miners to the Bitfinex exchange on Tuesday. Seen below, that equates to the largest transfer of BTC from miners to exchanges since March 26, 2019.The last time such a large volume of BTC moved from miners to...