Tag Archives: Bitcoin (BTC) Price

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 nearly $9,000 ($8960 on Bitstamp). This level is also the weekly high from Monday.As of now, Bitcoin is trading slightly below the benchmark level, but safely above the crucial...

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 bubble pop levels for weeks. Corporate multiples like forwarding stock price to earnings ratio haven’t been promising either.And then there were...

Brian Armstrong, the CEO of leading US-based cryptocurrency exchange, Coinbase, believes that the current drop in the global markets and the latest cut in the interest rates might be a turning point for the industry as it could lead to a crypto surge this year.Using Crypto As A Reserve CurrencyAccording to Armstrong, governments around the world are continuously looking for ways to stimulate the failing economy, including using “quantitative easing” and printing more money, just like China...

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 (on the following 4-hour chart), and surged to the next resistance level at $9000, along with the 4-hour’s 50 moving average line (the pink line).There, the primary cryptocurrency got...

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 approximately $8,700.If BTC continues to increase, the first significant resistance level lies at $8,800, followed by $9,000. The latter also serves as a major psychological...

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 one of them. Yet, the precious metal, despite reaching its 7-year-high on Monday, also plunged later.It raised the question if gold can be truly trusted in similar conditions. Ed...

It’s safe to say that the past week was one of the worst for Wall Street and the global financial markets. The S&P 500 marked its quickest correction in history while other major indexes were also bleeding heavily. Bitcoin wasn’t left out, as the cryptocurrency lost a substantial chunk of its value. According to Michael Novogratz, there was a relation between both.Wall Street’s MeltdownGlobal stock markets took a beating in the last ten days of February. The S&P 500 lost about 12...

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 the past three days, whereas the next few hours are likely to decide the upcoming move of Bitcoin’s price. The declining amount of trading volume also supports this thesis.Despite...

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 on the bearish side, and we should continue to expect further declines this week within the market. Once the rising trend line is broken, support is found at the downside...

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 latter was mentioned here on the previous BTC price analysis from two days ago.Looking at the daily timeframe, we can see that Bitcoin was testing the $8770 – $8800 zone for the past...