Bitcoin Price Rebounds Following Weekend Slump
It certainly has been an interesting weekend when it comes to the price of bitcoin. Late last week, following an advisory that financial institutions in China steer clear of bitcoin, and the news that Baidu was no longer accepting bitcoin, the price took an absolute tumble. Today, the price has come up, with things overall looking more positive. Over 15 percent gains have been observed in the last 24 hours, effectively bringing the price at a hover in the mid-$900USD range at the time of this writing at Bitstamp. Mt. Gox is looking higher per usual, at about $975USD. The general theory is....
Related News
We've been in a pre-Christmas slump when it comes to the price of bitcoin, but things are seemingly looking up. Literally. This Thursday morning, the current bitcoin price is $765 USD at Mt. Gox and $726 USD at Bitstamp, up about 10% in the past twenty-four hours. It's a good sign, but like many other things in the bitcoinosphere, subject to change drastically. General speculation is that as the holidays approach, many sell off some of their assets (i.e. bitcoin, stock, etc.) to help fund Christmas. But now that's over, and an influx of new money is and will continue to hit the exchanges.....
Don’t be alarmed by the current slump in the bitcoin price. In fact, there is still cause for optimism. The market is going through a reversal pattern to the $700 level, where a congestion area should reinforce quotes for another climb to $820, keeping us right on track to hit the projections advanced last week. Bitcoin Price Analysis: Bulls Still in Control. Long-Term Analysis. After testing the lowest support at the $580-$600 level, prices should enter an upward reversal pattern soon, which will allow an initial pull back to $700, extended to Fibonacci´s technical objective at $820. The....
The price of an ounce of gold dropped dramatically this week, slipping under the $1,700 handle to $1,688 per ounce on August 8. On Monday, gold regained some of the losses jumping 2.36% back above the $1.7K region to $1,727 per ounce of fine gold. Gold’s Volatile Movements This Weekend Blamed on a Number of Elements While bitcoin (BTC) prices are up more than 4% on Monday and over 16% during the last week, the value of gold has been dropping lower in fiat value. On August 6, 2021, the price of gold per ounce was trading for just over $1,800 per unit and slid to $1,688 per unit two....
Litecoin is experiencing its biggest price slump ever. When the altcoin went mainstream, litecoin closely followed bitcoin's sometimes extreme price swings, peaking at $40 in late 2013, soon after bitcoin passed the $1,000 mark. However, in less than two months, litecoin has lost that close relationship with its golden sibling, prompting community members and some industry leaders to question litecoin's viability. Barry Silbert, Founder and CEO of SecondMarket, recently posted the following tweet raising the issue: Litecoin price appears to be decoupling from bitcoin. Money rotating out of....
The price of Bitcoin reclaimed $18,000 but traders remain cautious of a weekend bull trap. The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTC’s weekend rally.Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average (MA) on the daily chart. As Cointelegraph reported yesterday, some traders still anticipate BTC to see another drop in the near term before the rally can continue.BTC/USDT 4-hour chart (Binance). Source: TradingView.comWhy a bull trap for....