Tag Archives: Bitcoin (BTC) Price

The constant expansion of the coronavirus continues to harm the global economic markets. Monday’s severe stock sell-off pushed the UK to cut the interest rates, a week after the US did the same.As a result, Europe stocks are in the green as of writing these lines. Wall Street’s major indexes opened Wednesday’s trading in the deep red zone – S&P 500 and NASDAQ are down 3% at the moment. At the same time, Bitcoin’s price is steady around $7800.Coronavirus Spreads: Global Markets ReactThe...

Over the past two days, we saw Bitcoin continued its correlation with Wall Street. After reaching a 2-month low at $7600, and finding support upon the historic trend-line, Bitcoin recovered to $8150, however, just like the Wall Street futures, BTC price lost momentum and now trading roughly around $7800 – $7900.In the bigger picture, Bitcoin touched the historic ascending trend-line two days ago, as can be seen on the following weekly chart. This historic trend line was started forming in...

The cryptocurrency market plunge started during the weekend and continues as of writing these lines. Bitcoin dumped with over 15%. Naturally, the general sentiment among the crypto community has changed. Some speculate that the 2020 bullish trend is now over and that investors should prepare for even worse consequences.Market Sentiment Follows The PriceIt’s safe to say that the cryptocurrency market has seen better times. In a matter of three days, the total market capitalization went from...

The cryptocurrency market tumbled over the weekend, and it brought a wave of familiar negative voices. The two famous American economists, Nouriel Roubini and Peter Schiff, quickly took the opportunity to bash Bitcoin for not being a proper hedge during the current economic turmoil.Dr. Doom Against BitcoinWith the rising impact of the coronavirus and the recent Oil Price War, the financial markets plummeted. The cryptocurrency market also dropped severely. Bitcoin, the leading digital asset...

Confirmed coronavirus cases continue to grow globally. The Saudi Arabia Kingdom launched an unexpected oil price war against former ally Russia.As a result, the traditional financial markets are plummeting severely. At the same time, Bitcoin showcases a positive correlation with them and drops below $8,000 – for the first time since January 2020.The 2020 Oil Price WarThe coronavirus outbreak hit all financial markets and sectors. Oil is no exception. In an attempt to artificially inflate the...

The economic situation is starting to feel well the coronavirus effects. As of writing these lines, Crude Oil plunges 30% to a 3-decade low. NASDAQ futures are forecasting another 5% plunge, while London crashes 7%.What started yesterday as the PlusToken Ponzi’s sell-off, continued today to a massive collapse. The question is whether Bitcoin is a real safe-haven asset, just like Gold? So far, Bitcoin fails the test, following another $1000 plunge since our price analysis from yesterday.The...

One of the most significant cryptocurrency fraudulent projects from the past few years recently tried to launder another 13,000 bitcoins. To do so, the perpetrators used numerous mixing services. Shortly after, the price of Bitcoin plunged by $500 in a matter of hours, and the question remains if this is the reason behind the drop.PlusToken Laundered 13,000 BTCAccording to the crypto Analyst ErgoBTC, PlusToken deposited approximately 13,000 bitcoins directly to mixing services in the past 24...

Things happen fast in crypto. Yesterday’s analysis focused on the tight range of $200 Bitcoin was trading inside over the past days.We had clearly stated in yesterday’s analysis that a huge price move is imminent. Just a few hours after, and Bitcoin made the anticipated move.As in crypto, Bitcoin price first went to the top of the range, touched $9224 (Bitstamp), liquidated some short positions, and from there – a fatal crush of $500 which lasted for the past few hours.As of writing these...

Bitcoin (BTC)Bitcoin price managed to increase by a total of 5.58% over the past 7-days of trading after rebounding from the support at $8,550 provided by the downside 1.618 Fibonacci Extension level. After bouncing, the cryptocurrency managed to travel higher as it broke the $9,000 level in yesterday’s session to reach $9,150 today.From above, the first level of resistance lies at $9,200 (bearish .382 Fib Retracement). This is followed by resistance at $9,400, $9,450 (bearish .5 Fib...

The Federal Reserve cut interest rates this week. While the central bank was hoping to boost the falling stock market, the move seemed to spook investors. All the major US stock market benchmarks swung upward for just one day on Wednesday after the cut.But investors continued to dump equities Thursday. On Tuesday, when the Fed rate cut was announced, the stock market ended the trading session with a loss.It seems the Fed’s efforts to save the stock market were a terrifying confirmation of the...