Tag Archives: Market Updates

The last few days were quite turbulent for Bitcoin and the entire cryptocurrency market. BTC went to retest the support at $5,800, losing $800 of its dollar value in the process. However, it has since bounced, and it’s currently trading at another important support level at $6,300.BTC/USD. Source: TradingViewThis weekend saw $5,850 as the current weekly low, and that’s far from being a coincidence. As Cryptopotato reported, the $5,900 area holds very strong support as it also represents the...

In the past seven days, bitcoin managed to add another 10% to its dollar-value as the price spiked from about $6,000 to its current point at $6,600. Yet, most of the time, it traded within a narrow range between $6,400 and $6,700. The overall volume has also declined, and, as such, the volatility decreased. If one thing is sure, though, is that Bitcoin doesn’t like to stay calm for long periods, and major action is likely underway.Most of the altcoins are following in Bitcoin’s lead and...

BitcoinBitcoin price increased by a total of around 10% this week as it blew past the $6,000 level to reach the resistance at $6,800. It did manage to spike as high as $7,000 but has failed to break above $6,800 for the past 4-days of trading and recently rolled over to reach $6,640.From above, the first level of resistance to break lies at $6,800. Above this, resistance lies at $7,000, $7,200 (bearish .5 Fib Retracement), $7,500, $7,700, and $8,000 (bearish .618 Fib Retracement &...

This week was nothing if not tumultuous for Bitcoin. Last Friday, its price dropped a massive 40%, recording one of its steepest losses in history. However, throughout the past few days, Bitcoin managed to recover nicely, as it’s currently trading at above $6,000.One thing worth noting amid this crisis is the fact that Bitcoin, unlike traditional assets, held up entirely alone. It is still a largely unregulated asset, and as such, there are no safety nets around it. During the week, when the...

BitcoinBitcoin witnessed a 22% price increase over the past seven days as it bounced from the $5,000 level and climbed back above $6,000 to reach the current price of $6,500. It had found strong support at $4,800 during the March market crash and traded sideways between here and $6,000 for the past week until breaking above in yesterday’s session.From above, the first level of resistance lies at $6,800. Above this, resistance lies at $7,000, $7,200 (bearish .5 Fib Retracement), and $7,500....

The novel COVID-19 (coronavirus) continues with its adverse effects on the financial markets. The cryptocurrency space is no exception. Bitcoin, for instance, slipped below the significant $5,000 mark and is currently trading at around $4,500.Just hours ago, the leading cryptocurrency by market cap saw a spike of $800. When the U.S. Fed Reserve made a total injection of $700 billion in treasuries and mortgage-back securities, Bitcoin jumped to almost $6,000. The bullish move, however, was...

It’s safe to say that unless unexpected things happen, this will be the worst week for Bitcoin since 2013. During the second week of December 2013, Bitcoin had seen a plunge from $864 to $382, more than a 50% decline. Those were the days when MT.Gox was the only major Bitcoin exchange out there.Just seven days ago, BTC was trading at around $9,000, and its price has now dropped to slightly above $5,200. What is more, the price went down to as low as $3,600 before bouncing to where it trades...

This week has been somewhat positive for the cryptocurrency community. Starting with Bitcoin’s price, which began trading at $8,600 but, since then, it has risen to the current stance of above $9,000.Following its increase, Bitcoin is starting to escape the correlation it recently demonstrated with the traditional financial world markets. As the coronavirus outbreak keeps expanding into new territories, the stock market struggles again. Despite recovering slightly at the start of the week,...

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...

Bitcoin lost a serious chunk of its Dollar value this week. Down about 12% over the past seven days, the cryptocurrency is currently trading at around $8,700. It’s essential to see where it goes from here. From above, there’s the 200-days moving average at $8,800, which has now turned to resistance. Bitcoin hasn’t closed a day below the 200MA since January 27th this year, and it’s entirely possible for today to be the first day. This would probably spell trouble for the bulls.All of this...