Daily Bitcoin Price Analysis: Bitcoin Has Not Enough Forces To Grow
Yesterday, January 27 2016, Bitcoin price was $390 - $400. And today, January 28 2016, during the Asian session the Bitcoin price dropped sharply to $382. The impetus for this reduction was yesterday's decision from the Federal Reserve on interest rates, which remains unchanged. Monetary policy also remains the same. However, according to the Fed the interest rate may be increased in March, and that depends on the future macroeconomic indicators. Investors can not ignore the decline in oil prices and the decline in the markets of China. Now they are seeking to escape from additional risks....
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Litecoin is clamped firmly between the prices $3.20 and $3.50, and can’t cross any of the two levels. This in turn is leaving traders frustrated as it’s far from ideal.. The two major forces affecting the Litecoin’s price fluctuation: the growth of Bitcoin price from $350 to $360, and the falling of LTC/BTC pair exchange rate from 0.095 to 0.092 in a single day. These forces are interconnected as because of the growth of Bitcoin’s price Litecoin miners are trying to get rid of the cryptocurrency in exchange for the growing Bitcoin. Thus, miners get more profits in fiat equivalent. Bitcoin....
Litecoin continues to entertain support at the level of ~$3.60. Consequently, LTC/BTC exchange rates reached 0.081 BTC and isn't going to grow. From the point of technical analysis of the chart, we can see a "flag" with entry from above, which means that a following downward exit is more probable. Nevertheless, one more splash in the course of Bitcoin can spoil the whole game again. DASH doesn't cease to surprise - it has grown from 0.06 till 0.07 in one single day! Now its price is 0.063, as the sharp movement up demanded future corrections. It seems that buy orders should be rearranged....
During the Asian session, the Bitcoin price strengthened to $452. And this happens while we receive positive macroeconomic statistics from the US. Moreover, other currencies also grow against the Dollar. These facts suggest the activity of a large number of buyers, both in Bitcoin and other currencies, and that buyers are so optimistic that this overcomes the resistance of the Dollar. This suggests that in the short term, the Bitcoin price could resume growing. Today we expect the publication of the data on initial applications for unemployment benefits, but this shouldn’t affect the....
Apparent price breakouts are occurring with greater frequency as the Bitcoin price chart is shunted this way and that by concentrated forces inside a narrow consolidation channel. The bears are convinced price is about to drop to the floor. The bulls are stacking orders for a spectacular rally. Best to buy one ticket for each show. 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 Value and Price Analysis. Time of analysis: 15h59 UTC. BTC-China 4-Hour Chart. Why The....
Today all cryptocurrencies use all their forces to hold on the levels they have already reached. Litecoin grows slowly, and tries to reach the upper bound of a corridor of $3.50 - $3.80 as Bitcoin exceeded its level of $450. The Litecoin vs. Bitcoin exchange rate of 0.008 confirmed its reputation of being a good resistance, and now Litecoin is on 0.0081 with a tendency to decrease. DASH holds on to the level of 0.0056. And the longer it is on this level, the sharper its move will be afterwards.