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...]
Analyst “Struggles” to See Bitcoin Bear Case Due to a Perfect Storm of 4 Factors
Bitcoin has embarked on a steep recovery over the past eight weeks. After falling as low as $3,700 in the middle of March, BTC has surged as high as $10,100 — a gain of over 170% in just the span of two months. Chart from TradingView.com It’s a stunning performance that has allowed the cryptocurrency to outperform almost every other asset class. While there has been a slight stagnation in the price of BTC, which is now trading at $9,600, a top analyst believes that Bitcoin is poised to head higher. He cited a confluence of four fundamental factors that in convergence are a potential perfect storm. The analyst went as far as to say that he’s so convinced by these factors that he … [Read More...]
US Open – Wall Street higher despite historically terrible jobs report, Oil rises, Gold softens, Bitcoin momentum
US stocks are rising despite the worst monthly job loss on record. The US economy shed 20.5 million jobs in April, slightly better than the consensus estimate of 22 million job losses. The unemployment rate hit 14.7%, the highest since just after the Great Depression, but could have been 5 percentage points higher if workers were classified correctly. The job losses were widespread with leisure and hospitality payrolls shedding 7.65 million jobs. Without a vaccine, it is hard to imagine that large parts of the economy (leisure, hospitality and retail) will recover the majority of jobs anytime soon. The surge in wages is getting no attention as the widespread job losses were mainly hurting the lower paying ones. Wall Street did not learn anything new regarding the US labor situation, but … [Read More...]
Bitcoin Just Surged Past $9k: Here’s Why Analysts Think More Upside Is Imminent
After trading below $9,000 ever since the blow-off top on Wednesday, Bitcoin has been subject to a strong recovery over the past couple of days, culminating in a breakout seen this past hour. The cryptocurrency, as of the time of this article’s writing, is trading for $9,150 — more than 9% higher than the post-rally lows of $8,400 and up approximately 4% in the past 24 hours. Yet BTC is still a few hundred dollars shy of the $9,500 top. Chart from TradingView.com Bitcoin’s breakout comes in spite of a number of bearish signals the cryptocurrency has printed over the past few days: 1) a sell wall consisting of 1,000 Bitcoin — worth over $8 million — that on Saturday morning appeared on Binance, … [Read More...]
Bitcoin Forms Another Dreaded “Darth Maul” Candle; Liquidating $9m in Shorts
After firmly securing its position within the mid-$7,000 region, Bitcoin’s bulls and bears have once again reached an impasse. This is clear while looking towards the benchmark crypto’s price action seen earlier today, when it raced to $7,800 before diving to under $7,500. This movement formed what is jovially referred to as a “Darth Maul” candle – a reference to the Star Wars villain who wields a double-sided saber. The effects of this movement on traders is quite notable, as it liquidated over $9 million in short positions before throwing the crypto back into its recently established trading range. Bitcoin Volatility Liquidates Millions as Sideways Trading Persists The volatility seen by Bitcoin earlier today comes close on the heels of its recent rally from the … [Read More...]
BOSAGORA Continues to Impress as Digital Currency BOA Lists on Bithumb
Bitcoin Press Release: BOSAGORA, a next generation smart-contracting blockchain which showed impressive results in 2019, has now listed on the major South Korean exchange Bithumb. 8th March 2020, Seoul, South Korea – BOSAGORA’s native token BOA, which is governed by a democratic “Congress Network” of its users, saw a staggering 279% growth in Q4 of 2019. In 2020, the project has continued in the same vein, with BOA reaching an all time high in March. BOSAGORA’s ascendancy is especially well-timed as wider positivity in the Korean cryptocurrency market develops. On March 5th, legislators in the South Korean parliament passed legislation that provides a clear framework for cryptocurrency trading. The move is expected to bring greater certainty, security and growth to blockchain-related projects in the country, with BOSAGORA perfectly … [Read More...]
Metaverse DNA Partners with Tezos and TomoChain to Present TEK2Students, an Educational Workshop Series for IT Students in Vietnam
Bitcoin Press Release: Metaverse DNA has announced a partnership with other industry leaders to deliver TEK2Students, a workshop series that will introduce the fundamentals of blockchain technology to aspiring IT students in Vietnam. 27th February 2019, Hồ Chà Minh, Vietnam: The series will take place at the INTEK Institute of Applied Technology in Ho Chi Minh City, and will run until September 30th, 2020, with workshops held the first week of every month. Metaverse DNA will deliver a number of these workshops, giving students and other attendees an opportunity to familiarize themselves with the Metaverse ecosystem and Dualchain Network Architecture. Metaverse DNA is a next-generation digital finance ecosystem, bringing all of the most important features needed by enterprises, organizations and individuals together in one place. These features … [Read More...]
Crypto Market Turns Green with Bitcoin SV Taking the Spotlight
Bitcoin has made a decisive move, retaking the $8,000 resistance mark. Prices have continued to push to $8,200, as the world’s largest cryptocurrency continues to try and retake the $8,450 level that it experienced on January 8th. BTC did fall below $8,000 on January 9th but has seen sustained increases over the course of the day, today, and looks set to push further. Optimistic traders have suggested that a parabolic price movement could now be on the cards. The rest of the crypto market also returned profits against the dollar, with the controversial Bitcoin SV fork taking the plaudits thanks to a nearly 50% price gain on the day. Bitcoin SV has now overtaken Litecoin in market capitalization, although this could change as prices continue to … [Read More...]
Week ahead – It’s a trade deal!
What a start to 2020! It’s been a rather eventful first week of the year for financial markets and while next week may not be quite so action-packed, when it comes to the current climate, who knows what’s around the corner. As far as the coming week goes, politics will continue to dominate but there are some interesting central bank meetings, as well as a few interesting economic releases that will certainly draw attention. The signing of the US-China phase one trade deal will naturally be all over the front pages next week. Let’s face it, it’s about time. But it’s this week’s events in Iraq and Iran that people may be more interested in at this stage. Both sides may have shown a willingness to … [Read More...]
Bitcoin (BTC) Price Weekly Forecast: Risk Of Fresh Drop To $10,500
After a decent rise, bitcoin price topped near the $12,325 level against the US Dollar. The price is currently correcting lower below $11,500, with a bearish angle. There was a break below a crucial contracting triangle with support near $11,750 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently holding the $11,200 support, but it could extend its decline to $10,500. Bitcoin price is currently correcting gains from $12,325 against the US Dollar. BTC price could correct lower towards $10,500 before it could rise again in the near term. Bitcoin Price Weekly Analysis (BTC) In the past few days, there was a decent rise in bitcoin price above the $11,000 resistance against the US Dollar. The BTC/USD pair… [Read More...]
Bitcoin (BTC) Price Weekly Prediction: Indicators Suggest Rally To $9,000
There was a strong buying interest for bitcoin near the $6,800 support area against the US Dollar. The price started a fresh increase and broke the $7,000 and $7,500 resistance levels. There was a break above a major contracting triangle with resistance near $7,300 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is eyeing a strong rise and it could trade above $8,500 and $8,800 in the near term. Bitcoin price is up more than 10% after a strong downside correction against the US Dollar. BTC is now eying further upsides and it could even test the $9,000 resistance area. Bitcoin Price Weekly Analysis (BTC) This past week, bitcoin price rallied significantly above the $7,000 resistance against the US Dollar… [Read More...]
About That Orange B… The History of Bitcoin’s Logos
Can a logo symbolize the ethos of a project? An industry? An entire movement? Bitcoin’s might have come close. [Read More...]
Bitcoin Surges past $7,000 and Looks for Further Gains
Some traders are claiming alt season is upon us, as Bitcoin prices rose 15% in the space of 24 hours, pushing through resistance at $6,800 and $7,000 to trade at prices not seen since last September. Other top cryptocurrencies saw similarly impressive gains over the period. Facebook, who are heavily involved in developing their own cryptocurrency, has reversed its previous decision banning all cryptocurrency advertising, and most analysts are now looking forward to further gains for the whole market. When Facebook announced that it would ban cryptocurrency advertising in January 2018. This coincided with one of the worst months for the digital asset, shedding nearly 40% of its value. At the same time as the Facebook crypto ad, several Asian countries suggested that they would heavily regulate cryptocurrency trading, … [Read More...]
Mastercard has approved the first crypto debit card in Europe
Tap n Go (TAP) has partnered with Transact Payments Limited (TPL) to provide the Tap Prepaid Mastercard® that will allow customers to convert Crypto Assets held with TAP for spending wherever Mastercard is accepted. The TAP accounts with multiple crypto and fiat wallets and will have access to real time crypto trading with numerous exchanges, … Continue reading Mastercard has approved the first crypto debit card in Europe The post Mastercard has approved the first crypto debit card in Europe appeared first on CoinSpectator Blog. [Read More...]
Bitcoin (BTC) Price Could Test $6,500 Before Strong Correction
There were heavy gains in bitcoin price above the $5,500 pivot and resistance level against the US Dollar. The price rallied above the $5,700 and $5,800 resistance before there was a minor downside correction. There is a key connecting bullish trend line in place with support at $5,610 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently in a strong uptrend and it could trade towards the main $6,500 resistance level. Bitcoin price gained significantly above the $5,600 level against the US Dollar. BTC is likely to break the $6,000 and $6,250 levels before it could start a substantial downside correction. Bitcoin Price Weekly Analysis (BTC) This past week, there was a significant upward move in bitcoin price above… [Read More...]
Bitcoin Price Analysis: Selling Pressure Leaves Macro Level Untested
Summary:The bullish market structure that we have established over the last couple of weeks remains intact, despite the strong round of selling that the bitcoin market saw a couple of days ago.The weekly 50 exponential moving average (EMA) is currently in the process of being tested but the market has been unable to close a weekly candle above it.The intraday levels have shown support following the round of selling.If the current levels do not hold, we can expect to see a test of the $4,700s as we haven’t tested its support following our strong breakout.Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment… [Read More...]
Bitmain Announces Antminer s17 Date: Can It Turn the Company’s Fortunes Around?
Cryptomining manufacturer Bitmain has revealed the release date for its next-generation Antminer S17 series. The S17 set of miners includes the Antminer S17 Pro, Antminer S17 and the Antminer T17.The Antminer S17 is the latest in the company’s line of fabless mining chips. According to the post, the chips, which are expected to go on sale from April 9, 2019, will provide an energy-efficient means of mining popular cryptocurrencies such as bitcoin and bitcoin cash.The miners will be fitted with the 2nd generation 7nm ASIC BM1397 mining chips which Bitmain claims would provide a 28.6 percent improvement in power efficiency.According to Yanxin, Bitmain’s product manager, the improved energy efficiency of the S17 miners will lead to "improved performance compared to the previous generation chip"… [Read More...]
Bitcoin (BTC) Price Still In Strong Uptrend, Buying Dips Favored
Bitcoin price traded to a new monthly high at $4,064 and later corrected lower against the US Dollar. The price declined sharply below $3,950, but dips remained supported above $3,900. There is a crucial bullish trend line formed with support at $3,920 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair remains well supported on dips near the $3,920 level and the 100 simple moving average (4-hours). Bitcoin price is still in a strong uptrend despite recent bearish moves against the US Dollar. BTC/USD is likely to find a solid buying interest if it dips towards $3,940 or $3,920. Bitcoin Price Weekly Analysis (BTC) This past week, there was a decent upward move above $4,000 in bitcoin price against the… [Read More...]