Bitcoin price hits 7-day low as US warns of 'highly elevated' CPI data
Crypto market jitters around inflation expand with Bitcoin and Ethereum dropping to levels not seen since last week. Bitcoin (BTC) carried through threats of new local lows July 12 as the White House warned of “highly elevated” inflation.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewWhite House warns ahead of "decisive day"Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $19,500 prior to the Wall Street open, down over 4% on the day.Having failed to hold $20,300 support, the pair appeared to react badly to comments on the inflation outlook from....
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Bitcoin managed to hit $16,000 on Wednesday after repeatedly eyeing the psychological resistance level for weeks.
U.S. Treasury Secretary Janet Yellen has warned about the dangers of bitcoin as the price of the cryptocurrency took a nosedive. She sees bitcoin as a highly speculative asset and is worried about potential losses investors can suffer. Yellen also believes that bitcoin is not widely used as a transaction mechanism due to its inefficiency, reiterating her view that the cryptocurrency is often used for “illicit finance.” Janet Yellen’s Warning About Bitcoin Janet Yellen has blasted bitcoin again Monday in an interview with CNBC at the New York Times Dealbook conference. The....
The last article stated: The blowoff top did occur as price reached a high of ~US$500, before running into what is an area of major overhead supply. All of the indicators were flashing signs of extreme overbought conditions and while they have come off a bit as the price has declined they are still elevated even following the price decline of the last few days. The RSI has formed a double top and is now correcting. The MACD is starting to roll over as well but is still extreme. The DMI remains extreme but buying pressure is subsiding, which should lead to a correction as well. “The bull....
According to data from Bitstamp, the USD price of 1 BTC has eclipsed its previous all-time high of $19,666 set on December 13, 2017. The post Bitcoin Price Hits All-Time High appeared first on Bitcoin Magazine.