The Red Metal Sees Green It was running the bulls in the copper market this past week as the red metal topped $4 for the first time since the end of 2011. The bullish sentiment gave the industrial metal a 7% gain for the week, buoyed by strong Chinese demand and forecasts of a supply deficit this year. Is this sustainable or could copper prices head back down to earth? Over the last several months, the world’s largest copper consumer, China, has acquired vast volumes of the industrial metal to restock its inventories. As the nation accelerates its economic recovery, copper remains a critical component for everything, from construction to manufacturing to green energy. Many factories had remained open during this year’s Lunar New Year holiday, … [Read More...]
Why This Bull Run Will Be Different from the Last Time
Just days after Microstrategy pitched Bitcoin to over 1,400 companies, the cryptocurrency broke through the crucial level at $35,000. In a strong recovery rally, Bitcoin continued to soar till it broke $40,000 earlier today. At 19:08 GMT, a price of a BTC was trading at $40,045, a gain of 6.03% in the last 24 hours. This is the first time in 23 days Bitcoin is achieving this price mark. As it stands, it appears the combination of a less crowded Bitcoin futures market, the whales order flow reaching an all-time high, and a fast recovery would help maintain Bitcoin above the $40,000 mark. Whales order flow causing Bitcoin recovery Earlier on January 29, a Bitcoin researcher and analyst called the “Material Scientist” noted that mega whales order flow reached an … [Read More...]
Bitcoin Reclaims Key Level After Friday’s Price Action
The last few days has seen some price action for the king cryptocurrency. A quick “pump and dump” rally occurred yesterday pushing the price per coin to around $38,000 before quickly plummeting to $32,000. This revealed that there are many bears looking to fade BTC’s price action. Although, the coin has recovered and not showing signs of falling further, the price action has remained. As Bitcoin show heavy market action, alternative coins are also struggling to gain massive momentum as bears continue to sell. The direction of the pioneer cryptocurrency in the next few weeks is dependent on if bulls can hold off the bears sell off which resulted in Bitcoin recent fall. At 17:52 GMT on Saturday, Bitcoin was trading at $34,262, losing 2.13% in … [Read More...]
Bitcoin Fall: Is This the End of the Bull Run?
While 2021 started out as a promising year for Bitcoin, the last 7 days has shown a fading bullish rally. The price action on the charts as enabled the flagship cryptocurrency to register new ATHs. Bitcoin has reversed all the way from around $42k to $31,924, where it stood at 5:40 PM GMT press time. The reversal poses two questions: does this reversal signal the end of the bull run? Or does it mean a wider scale correction similar to what happened in January 2018? Or as many traders would see it, is Bitcoin stabilizing above its previous ATH and maintaining much of the gains it raked up since December 2020? Social volume show positive outlook It appears that Bitcoin’s social volume metric can help elaborate what happened with the … [Read More...]
Market Insights Podcast (Episode 154)
Jonny Hart looks back on the week’s business and markets news with OANDA Senior Market Analyst Ed Moya in New York. This week they discuss President Biden’s executive orders, the ECB policy meeting, the UK economy, and Bitcoin’s volatile week. [Read More...]
Bitcoin Struggles Below $38K, Why BTC Could Dive To $32K
Bitcoin price is struggling to clear the $38,000 and $40,000 resistance levels against the US Dollar. BTC is currently consolidating above $36,000 and it remains at a risk of a downside break. Bitcoin is trading in a short-term bearish zone below the $38,000 and $40,000 resistance levels. The price is holding a key support zone near $35,600 and the 100 simple moving average (4-hours). There is a major contracting triangle forming with support near $35,550 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong decline if it clears the $35,500 and $35,000 support levels in the near term. Bitcoin Price Correcting Gains This past week, bitcoin price climbed higher sharply above the $38,000 resistance against the … [Read More...]
Bitcoin Consolidates above $40K, Why BTC Could Surge To $50K
Bitcoin price gained further momentum and traded to a new all-time high near $42,000 against the US Dollar. BTC is currently consolidating gains and it could surge towards $45K and $50K. Bitcoin is trading in a strong uptrend above the $36,000 and $40,000 support levels. The price is consolidating above $40,000, and it is well above the 100 simple moving average (4-hours). There is a key contracting triangle forming with resistance near $41,200 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue higher towards the $44,000 and $45,000 levels in the near term. Bitcoin Price Sets New ATH In the past few days, there were additional gains in bitcoin price above the $35,000 resistance … [Read More...]
Bitcoin Price Exceeds $31,000 – What Is Next?
The price of the largest cryptocurrency by market capitalization, Bitcoin (BTC) has set a new all-time high on the second day of 2021. Bitcoin has broken the $31,000 threshold, a little over an hour after breaking through $30,000. #Bitcoin $ 3 1 , 0 0 0 — Binance (@binance) January 2, 2021 At around 14:33 GMT, Bitcoin price was trading at $31,319 on the Bitstamp exchange, up 5.85% in the last 24 hours. Notably, the market capitalization of Bitcoin has stepped over $579.4 billion, while its dominance in the crypto market has grown to 72.27%. Will Bitcoin’s bullish trend continue in 2021? According to market analyst, Michaël van de Poppe, Bitcoin’s $27,000–27,500 support level would activate another upside run above $30,000. #Bitcoin broke the crucial trigger between $27,000-27,500 and continued its rally towards a new all… [Read More...]
Bitcoin Celebrates Christmas With a Rally Above $25,000
The price of Bitcoin (BTC) continued its recent bullish rally, as it briefly broke the $25,000 mark. On Saturday, December 26, the leading cryptocurrency soared from around $24,600 to $25,020 on Bitstamp at 08:35 GMT. On BitMEX, the price rose above $25,070, on Binance it exceeded $25,020. $ 2 5 0 0 0 #Bitcoin Thanks Santa ?? pic.twitter.com/4pp80fNkLG — Binance (@binance) December 26, 2020 Notably, on Bitfinex and Coindesk, Bitcoin did not reach the psychologically important level. However, as the chart below shows, Bitcoin has corrected towards the $24,750 area at 11:00 GMT. The dominance index of the flagship cryptocurrency rose to 69.2%. The total capitalization of the digital asset market has reached $666 billion. As a reminder, Mike McGlone, the senior commodity analyst at Bloomberg Intelligence, said in early June that Bitcoin could … [Read More...]
2020 in tweeted charts!
Welcome to the 2020 edition of ‘the year in tweeted charts’: a reasonably concise overview of the year, with some eye-popping graphs. But, also, a useful exercise to improve my understanding of market dynamics and future investment decisions. Here goes… New highs The year started off well, with equities continuing their stellar run – the S&P 500 realized a return of more than 30% in 2019, remember – and rising 3% in the first few weeks of January. It seemed, therefore, that the longest bull market in history would last a little while longer. The longest bull market in history! https://t.co/DRLRs6DmW8— jeroen blokland (@jsblokland) January 06, 2020 What virus? If only we knew what was coming. There was an occasional mention of some new flu-… [Read More...]
Commodities Week in Review: December 14 to December 18
Commodities Week in Review: December 14 to December 18 Agriculture Strengthening demand, a weaker US dollar, and potential supply issues contributed to agriculture’s impressive week. The biggest news in the agricultural sector was China’s ballooning consumption for soybeans, which allowed the crop to climb to its best level since early 2014. Wheat also captured international headlines for Russia slapping a tax on wheat exports to curb exploding domestic food prices. With the year winding down, agricultural commodities could have their best performance in years. It now remains to be seen if they can carry the momentum into 2021. Cocoa Friday Settlement: +$1.00, or 0.04%, to $2,507 per metric ton Weekly Performance: -4.60% YTD Performance: -1.22% Coffee Friday Settlement: +$0.0035, or 0.28%, to $1.256 per pound Weekly Performance: +3.89% … [Read More...]
1xBit Launches New Casino Tournament and Crazy Time Live Casino Game
Bitcoin Press Release: Popular crypto casino 1xBit has launched a tournament with multiple online games, including a new game called Crazy Time as the main event. The prize fund for the tournament is 1500 mBTC. 22nd October 2020, Limassol, Cyprus – Leading crypto casino 1xBit is launching an exciting new tournament and live casino game, called Crazy Time. The live event commenced on October 19th, 2020, at 00:00 GMT and will end on November 15th, 2020, at 23:59 GMT. Known for its large-scale tournaments, 1xBit has a new game to spearhead it’s latest event. Crazy Time is a fun-filled casino spin game, with live dealers, a vivid design, and a high-tempo style game-play. Bonus Games and Transparency Crazy Time is one of the 1xBit games with the lowest house … [Read More...]
Where Does Bitcoin Fit in the Global Reserve Currency Game?
On this “Speaking of Bitcoin” episode, join hosts Adam B. Levine, Andreas M. Antonopoulos, Stephanie Murphy, and Jonathan Mohan for a look at the past, present and future of global reserve currencies [Read More...]
PumaPay is paving the way for mass crypto adoption
PumaPay CEO, Yoav Dror, said: “By providing innovative and much-needed developments ready to be utilized in the emerging crypto space, we bring the co PumaPay is one of the most innovative providers of a fully decentralized blockchain-based payment system. Since their establishment, the company has maintained that its vision is to be one of the frontrunners … Continue reading PumaPay is paving the way for mass crypto adoption The post PumaPay is paving the way for mass crypto adoption appeared first on CoinSpectator Blog. [Read More...]
These 3 Trends Show Bitcoin Is Primed to See a Strong Breakout
Bitcoin is expected to soon see a strong breakout as the price action of the cryptocurrency tightens after the news that the U.S. CFTC is charging BitMEX. Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch Bitcoin Primed to Break Out, Technical Trends Show Bitcoin’s price action has undergone extreme tightening over the past few days as the markets have become extremely indecisive. Three technical trends indicate that the cryptocurrency is primed to undergo a strong breakout, a crypto trader said. They are as follows: Bitcoin is in a symmetrical triangle formation, and it has reached the apex of the triangle. This suggests that it will soon see a strong breakout. Bitcoin’s market volume is declining, suggesting a breakout will … [Read More...]
The Upfiring Dapp: Full-Scale Project Launch, Upfiring 1.2.2 Dapp Release & Upcoming Events for 2020
With Upfiring 1.2.2, seamless decentralized P2P file-sharing is now possible on the Ethereum blockchain. With our product ready for user adoption, the project’s focus will be shifting towards towards community growth and marketing for the second half of 2020. Upfiring 1.2.2 Release — August 24th, 2020 Upfiring 1.2.2 has been deployed and is available for download … Continue reading The Upfiring Dapp: Full-Scale Project Launch, Upfiring 1.2.2 Dapp Release & Upcoming Events for 2020 The post The Upfiring Dapp: Full-Scale Project Launch, Upfiring 1.2.2 Dapp Release & Upcoming Events for 2020 appeared first on CoinSpectator Blog. [Read More...]
Crypto Behemoth Huobi to Launch Bitcoin Options Trading
Huobi Futures to launch Bitcoin Options Trading in Q3 of 2020. Following the successful launch of Perpetual Swaps in Q2 of this year, Huobi Futures now has its sights on a Q3 launch for its Bitcoin Options. Bitcoin Options are a form of financial derivatives that provide traders with the right, but not the obligation, … Continue reading Crypto Behemoth Huobi to Launch Bitcoin Options Trading The post Crypto Behemoth Huobi to Launch Bitcoin Options Trading appeared first on CoinSpectator Blog. [Read More...]
Indicator That “Controls” Bitcoin Forms a Signal Seen Before March’s 50% Crash
Earlier this week, Bitcoin sustained a heavy drop. The cryptocurrency, just 24 hours after attempting a $10,000 break, plunged nearly $1,000 in the span of 12 hours. The move brought the cryptocurrency from around $10,030 to $9,050. Analysts are divided over what technical damage the drop caused. Some say that it is to be expected, calling the drop a part of a wider consolidation pattern that Bitcoin will break higher from. Others say that it cements the sentiment that the bull trend formed after March’s $3,700 lows is decisively over. A key technical indicator recently confirmed the latter sentiment. Related Reading: Crypto Tidbits: Bitcoin Fails at $10k, Ethereum Coins Explode, Coinbase Looks to Add 18 Altcoins Bitcoin Falls Below Crucial Moving Average, Hurting Bull Case The recent $1,000 … [Read More...]
Bitcoin Dips Below $9,000 and Drags Market Down with It
Bitcoin prices dropped below $9,000 yesterday, having hit $10,000 resistance earlier in the week. The world’s largest cryptocurrency has rebounded and is now trading at $9,100. Meanwhile, Tether and Ripple are duking it out to be the third biggest cryptocurrency by market capitalization. Stablecoin Tether overtook Ripple yesterday but has since fallen back; both coins have a total market capitalization of just over $8.9 billion, and only $20 million stands between their total capitalization. The world’s largest cryptocurrency has spent most of the time since April 30 above $9,000 and has, on several occasions, tested psychological resistance at $10,000. It breached the level on May 8, and made further attempts on May 14 and May 18 but couldn’t sustain the push. The bulls appear to be running out … [Read More...]
Bitcasino and The Giving Block Charity to Sponsor Virtual Global Concert
Bitcoin Press Release: Bitcasino has joined forces with crypto charity ‘The Giving Block’ to support a virtual relief benefit concert which is raising funds for those adversely affected by the COVID-19 pandemic. 4th May 2020 – The pioneering Bitcoin-led casino operator, Bitcasino, has announced its support for a virtual relief benefit concert organised by crypto-charity giants The Giving Block. The Giving Tuesday Now event marks a global day of giving and unity that will take place on May the 5th as an emergency response to the unprecedented need caused by COVID-19. In partnership with GivingTuesday’s global network of leaders, patrons and communities this event is set to spark an increase in grassroots generosity, citizen engagement, business and philanthropy activation supporting the fight against COVID-19 around the … [Read More...]
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