Tag Archives: btcusd

Santiment – a crypto markets intelligence platform – has a bullish outlook on Bitcoin after the Federal Reserve increased its benchmark interest rate by another 25 basis points on Wednesday.  In a follow-up blog post, the firm claimed that the top crypto is showing “some promising rise potential” – particularly as its correlation to equities continues to weaken.  What’s Next for Bitcoin? In its latest insight report, the company said that the market’s initial reaction to the...

According to data from the crypto financial service platform Matrixport, the narrowing wedge that has been in formation for the past three weeks is about to break to the upside. Such a trend could project a move higher by an equal amount to the range at which the triangle started to form. A breakout could lead to a 6,100-point move higher in the price of Bitcoin, which establishes a target of $35,000-$36,000. Such an uptrend would represent nearly 20% gains from the current...

Amid the unfolding banking crisis and interest rate hikes, Bitcoin has been showing strong resilience attempting another breakout above $30,000. On Wednesday, May 3, the US Federal Reserve announced another 25 basis points rate hike taking the US funds rate to more than 5% for the first time since 2007. In hours after the Fed announced the rate hike, Bitcoin (BTC) made a quick surge of more than 2% taking the price above $29,000. This Bitcoin price surge amid the recovery in the broader...

Druk Holding & Investments – the investment arm of the Royal Government of Bhutan – partnered with the Nasdaq-listed company – Bitdeer Technologies Group – to introduce a $500 million fund that should support bitcoin mining activities in the Himalayan country. Recent sources suggested that the nation might have been secretly producing BTC since 2017, using its vast amount of hydropower.  Bhutan’s Mission to Become a BTC Mining Hub The government of the landlocked country...

Bitcoin’s price has been consolidating between the 50-day moving average at $28,310 and the $30K resistance region. However, it seems likely to break out of this decisive range, determining its upcoming rally’s direction. By Shayan The Daily Chart After finding support at the 50-day moving average of roughly $27K, the price started a steady uptrend, aiming to surpass the $30K region for the second time. However, Bitcoin failed to surpass this crucial resistance zone,...

The Kingdom of Bhutan – a landlocked country situated in the Eastern Himalayas – has reportedly used its renewable sources of energy to run a bitcoin mining operation for years. A government representative said the process started when BTC was worth around $5,000. It is worth noting that the primary cryptocurrency reached that level for the first time in October 2017. Another country that has done so is El Salvador. The Latin American nation, which became the first to make...

The past few days of April did not bring any substantial price moves in either direction for bitcoin, which remains north of $29,000. The altcoins are also calm during the weekend as the trading volume has disappeared. On a weekly scale, though, BTC’s dominance has risen by over a percentage. BTC Maintains $29K During Weekend This weekend resembles the previous one in terms of lack of volatility, aside from BTC’s highest price point. Last Monday began with bitcoin jumping to...

Bitcoin has received support at the crucial 50-day moving average, located at $27,000. This has led to a rally that aims to break through the significant resistance level of $30K. Despite the cryptocurrency’s overall bullish outlook, there is potential for rejection from this price range. Technical Analysis By Shayan The Daily Chart Following a short-term correction, Bitcoin found support at the 50-day moving average, presently found at $27,300, resulting in another uptrend....

Bitcoin has finally calmed after the massive volatility mid-week and stands just above $29,000. The altcoins are also sitting quietly today, with Solana being the only notable gainer from the larger caps. BTC Maintains $29K This past working week started rather calmly, as bitcoin continued trading sideways in a tight range of around $27,500. The landscape changed on Tuesday when the bulls initiated a massive leg-up that ultimately drove the cryptocurrency to $30,000. However,...

The armed wing of the alleged terrorist organization Hamas – Al-Qassam Brigades – will reportedly stop receiving donations in bitcoin out of concern for the safety of the contributors.  The Israeli authorities have previously estimated that the entity funded some of its military campaigns through cryptocurrencies. The Defence Ministry seized over 100 digital wallets associated with the group over the past few years. Going Back to Traditional Methods A local media...