Tag Archives: BTCGBP

Bitcoin’s price is finally showing some promising signs of bullish continuation. The big question now is if the consolidation period is over or if this is just a temporary bounce. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, BTC has been consolidating below the 200-day moving average (around the $64K mark) for some time now. However, today’s price action suggests the consolidation period is over, as the daily candle has broken...

Bitcoin’s price remains in a state of indecision, confined within a tight consolidation range bounded by the 100-day and 200-day moving averages. An impending breakout from this range will likely determine the asset’s short-term direction. Technical Analysis By Shayan The Daily Chart Bitcoin has been stuck in a multi-month consolidation between the $55K-$71K price range since March 2024, with no clear trend or direction emerging. This prolonged period of sideways movement...

Bitcoin’s price exploded above $63,000 today, reaching a local high at around $63,400. Even though it has since retraced to where it currently trades at $62,700, this is still a considerable increase of 4% for the past 24 hours. Source: TradingViewIt’s also important to note that Bitcoin has managed to outperform the rest of the leading cryptocurrencies, which are charting marginal gains. So, what are the reasons for this recovery? What could be driving the BTC price up in...

After a few days of depressing price action, the bulls appear to be finally back in town. The cryptocurrency market added almost $70 billion to its total capitalization over the past 24 hours. This happened on the back of Bitcoin charting a notable recovery in the past 24 hours, bouncing up to $63,000, so let’s have a look. Bitcoin’s Price Stages a Recovery Just a couple of days ago, Bitcoin tumbled below $60,000 and even briefly dipped below $59,000. Fortunately, the bulls...

TL;DR Despite recent volatility, several indicators suggest that BTC might be entering a bullish phase. On the other hand, one essential element hints at an intensified pullback in the short term. ‘Uptober’ Still in the Cards? Bitcoin (BTC) has passed through severe volatility since the start of October, performing worse than some expected. After all, the ongoing month has been a historically positive period for the entire cryptocurrency industry, thus known across the...

The cryptocurrency market has seen better days. Bitcoin’s price hovered at the $62,000 range for a few days, but it appears that the bears were finally able to take full control. Just a few moments ago, BTC dropped below $59,000, reaching a local low of $58,867. Source: TradingViewThe move has resulted in the liquidation of more than $250 million in leveraged positions, the majority of which, of course, is long. As CryptoPotato reported earlier today, Bitcoin’s price reacted...

Bitcoin’s rejection at $66K and the break below the 200-day moving average suggest that bearish sentiment is gaining strength. If the price fails to hold the $60K support, the likelihood of a mid-term decline toward the $52K-$55K zone increases. Technical Analysis By Shayan The Daily Chart On the daily chart, Bitcoin’s surge above both the 100-day and 200-day moving averages briefly revived bullish sentiment. However, upon reaching the $66K resistance zone, substantial...

Renowned economist and outspoken Bitcoin skeptic Peter Schiff took to X on October 9 to weigh in on the U.S. government’s impending sale of 69,370 Bitcoin, worth roughly $4.3 billion. His post sparked lively responses from Bitcoin supporters and critics alike, reigniting debates over the virtual asset’s value. Silk Road Bitcoin Up For Grabs Schiff’s tweet follows a Supreme Court decision that cleared the way for the U.S. government to sell Bitcoin it seized from the defunct...

The National Bank of Bahrain (NBB) has launched the GCC region’s first Bitcoin-linked structured investment fund for institutional and accredited investors. This product was developed in partnership with ARP Digital and is designed to provide a secure avenue for investors to capitalize on Bitcoin’s gains. The Bitcoin Investment Fund According to local media reports, the structured investment fund is capped at a predefined threshold and offers a unique opportunity for...

Bitcoin’s price has yet to recover above the key 200-day moving average, and if things remain the same, it is seemingly bound to drop to lower levels. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the price has recently rebounded from the $60K support level following the breakdown below $64K and the 200-day moving average, located around the same area. Meanwhile, these levels are currently preventing the price from rising, as...