Bitcoin Price Analysis: Exchange Rates Vary But Remain Bullish
Although the scaling and block size debate continues, this week the bigger focus has been on the halting of withdrawals and deposits of USD from various bitcoin exchanges, most notably Bitfinex and OKCoin. Many of the exchanges are still able to process USD, but are having a harder and harder time doing so due to an unfriendly regulatory milieu. Further....
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Bitcoin has let go of the hefty 4% gains it attained post the declaration by the US Fed chair that interest rates will remain “unchanged” for now. For an interesting take on why interest rates matter to Bitcoin, read “Could Bitcoin' Rally Be Indicative of US Fed's Rate Hike Hold-off?” As the cryptocurrency has weakened post the announcement, and there are no other market triggers in sight, we must remain cautious as Bitcoin is near important technical levels. Bitcoin is currently trading at $246.42, down 0.17% since yesterday. In my previous analysis, I had mentioned that even with strong....
Bitcoin price has begun advance and yesterday covered a $10 distance from $276 to $286 (Bitstamp). The current technical configuration is bullish and the level we watch with interest is $300. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 05h12 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The Bitcoin price chart is in a bullish state across all timeframes: from 5-minutes all the way up to the 1-week....
Bitcoin funding rates have remained low even when the price of the digital asset has rebounded. The trend for the previous week showed that investors remained extremely wary of the market, and there has not been a change for the new week either. This coincides with the general market sentiment falling back deep into the fear territory. This report takes a look at where the bitcoin funding rates are currently and what it says about the market. Funding Rates Remain Below Neutral Back at the beginning of August, the bitcoin funding rates had finally recovered to neutral, speaking some hope in....
Exchanges play a central role in the bitcoin ecosystem. In addition to facilitating trade, they set exchange rates between bitcoin and fiat currencies such as the US dollar or the euro. Rates can vary widely from exchange to exchange (which is where the arbitrageurs come in) and from minute to minute (where the other traders enter). By now, long-time bitcoin traders are well acclimatised to this volatile landscape. Take, for example, the wild price swings at the middle of this month. From a high of $596.00 on 8th August, the price tumbled 15% to a low of $503.96 just six days later. But....
Bitcoin funding rates have been dropping over the last couple of weeks. Even as the price of the digital asset had plummeted, causing some to call it being on ‘discount’, these funding rates have refused to move out of the negative territory. The past week has proven to be no different given that funding rates have exited the neutral territory entirely and remain low. Funding Rates Refuse To Budge Coming out of the last week has been a hard one for the crypto market. The bloodbath had sent the majority of the coins in the crypto market into the red and bitcoin had touched the $20,000 level....