Tag Archives: BTCGBP

Bitcoin’s price is currently testing a key area, and its reaction could determine the mid-term price action of the market. Therefore, it would be beneficial to analyze the possible scenarios thoroughly. Technical Analysis By Edris The Daily Chart On the daily timeframe, the price has been testing the 50-day moving average, located around the $26,500 level, over the last few days. In the event of a bullish breakout, Bitcoin is likely to move towards the $27,500 resistance...

Bitcoin’s price has recently rebounded from $25K support, but it is currently facing rejection from a key resistance zone. Technical Analysis By Edris The Daily Chart On the daily timeframe, the price has been rising after finding support near $25K. However, the 50-day moving average, around $27K, is pushing the price down. Another significant resistance level is the 200-day MA, trending near $28K. The price must overcome this resistance to retest the $30K level. Conversely,...

Though Bitcoin (BTC) continues to trade well below its 2021 November 2021 highs, Anthony Scaramucci, the founder of SkyBridge Capital and former White House communications chief, remains steadfastly bullish on the asset. Speaking at the Messari Mainnet conference in New York, Scaramucci expressed confidence that the worst of the bear market is now behind us. Why Bitcoin Goes Up From Here: Scaramucci During a fireside chat titled “Why I’m still bullish,” Scaramucci encouraged...

Bitcoin’s price increased by a little less than 1% in the past seven days. The week was, overall, positive for the industry as the total market capitalization approaches the $1.1 trillion cap. The biggest news of the week is undoubtedly the US FOMC meeting that happened on Wednesday. According to the official announcement, the central bank took the decision to maintain the target range for the federal fund rate at 5-1/4 to 5/12 percent. The statement also noted that job gains...

The Federal Reserve announced no change to its policy interest rate following its Federal Open Markets Committee (FOMC) meeting on Wednesday. Likewise, Bitcoin’s price showed little change after the announcement, down just 0.17% on the day. Per the Fed’s announcement, the central bank “decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent.” The statement noted that while job gains have slowed, they remain elevated. Unemployment is also...

The cryptocurrency market has remained mostly flat for the past 24 hours, and Bitcoin has been unable to make a move throughout the period. However, this might as well be a stepping stone and a preparation for an attempt at $27K. Most of the altcoins have remained flat with certain exceptions, so let’s dive in. Bitcoin Preparing for $27K? Bitcoin’s price has failed to produce anything of substance throughout the past 24 hours and remains largely situated around where it was...

Bitcoin’s price has been consolidating above the $25K support level following the recent drop from the key $30K zone. However, for the price to reach a new high and break past $30K, there is still much work to do. Technical Analysis By Edris The Daily Chart On the daily chart, the price has been rejected from the $25K support level and is trending higher. Yet, the 50-day and 200-day moving averages around the $28K mark are two significant resistance levels that the market...

Following a period of substantial capital inflows at the beginning of the year, the recent months have witnessed a shift towards either neutral or negative inflows, suggesting a period of stagnation as uncertainty took over the asset class. According to blockchain intelligence platform Glassnode, the market has been hovering on a relatively neutral level since April this year. This aligned with the slow-down in Bitcoin and Ethereum capital inflows and reflects a growing sense...

BitMEX co-founder Arthur Hayes said that the recent decision by the United States Federal Reserve (Fed) to lower interest rates is expected to trigger a rapid surge in Bitcoin’s price, potentially propelling it toward the $70,000 mark. Hayes had previously predicted that Bitcoin would reach this level after March, but the Fed had increased interest rates three times between March and the current period. Bitcoin’s failure to reach the previously predicted $70,000 level is due...

Bitcoin slid to $25,000 on Monday, after a period of flat trading over the weekend at roughly $25,800. Other digital assets followed suit, with XRP down 6% on the day to just $0.47. The drop marks Bitcoin’s lowest price level since mid-June when the asset reeled from back-to-back U.S. government lawsuits against two of the world’s largest crypto exchanges, Coinbase and Binance. The asset rallied when BlackRock filed for a Bitcoin spot ETF days later, and again when Grayscale...