Bitcoin Price, Gold Hold Steady
Bitcoin Price advance has held above $300 and is currently trading around the levels discussed in yesterday's analysis. To strengthen the case for advance price must now proceed to $360. The details of the 30,000 BTC sell order placed below market value have some interesting implications that are considered in today's analysis. Bitcoin Price Holding Steady. Time of analysis: 13h00 UTC. The following Bitstamp 4-hour chart shows Bitcoin price action around the $333 level that is currently the location of the 20-period moving average. The pre-condition for advance has not changed: price needs....
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The Bitcoin price continues its long steady decline. Last week we said: “Bitcoin price has continued experiencing downside pressure and as of this writing the price looks headed for a retest of the 200 area. Last week’s recap: If US$240 doesn’t hold, the US$220 area could provide minor support, but U$200 would more likely be an area to watch for bigger support. If it fails to hold, a retest of the lows (US$165-180) will certainly be the next area to watch […].” The price proceeded downward as we stated to reach US$210 before it rallied back up above minor support at US$220. As of this....
Gold is a commodity like bitcoin and other cryptocurrencies, Citi's chief economist argues in a research note published yesterday, ahead of a Swiss vote that could cause the global gold price to spike. Switzerland will hold a popular referendum on Sunday called 'Save Our Swiss Gold'. If passed, it would mandate the Swiss National Bank to hold a fifth of its assets in gold and to repatriate its holdings from England and Canada. The bank would also be banned from selling its gold in future. Gold prices have dropped as markets await the referendum. If the referendum is passed, gold prices....
Last year, the Winklevoss twins predicted that Bitcoin is set to become Gold 2.0, right now it's starting to look as if they might well be right. Every day, according to estimates, around £220bn of gold changes hands in London. The gold price has been set since 1919 by the London Gold Fix. but, of late, the gold fix mechanism has been somewhat losing its luster. There have been growing concerns that the London Gold Market Fixing Limited, which is owned by Barclays, HSBC, Société Générale and Scotiabank, may have been manipulating, or at the very least allowing the gold price to be....
Bitcoin trading joined gold, today, when it halted advance and tipped into correction. Although not a trading recommendation, just yet, technical indications imply a return to at least the January lows. Yesterday’s contradictory signals eventually folded to the side of the bulls as they pushed the advance $10 higher. The bitcoin price move began after gold breached its long-term upper resistance channel last week, and now that gold is correcting strongly from its $1,260 high, the steady bitcoin advance (as evidenced by the momentum indicators, above) also enters correction. That....
Hass McCook is a chartered engineer and freshly minted Oxford MBA. He has been researching bitcoin over the past several months and recently joined the Lifeboat Foundation's New Money Systems advisory board. This article is the second in a series on bitcoin's sustainability. Having previously examined the cost of bitcoin mining, here McCook seeks to quantify the economic and environmental factors involved in mining gold. Gold has been used for millennia as a means to project and protect wealth. As the data below indicates, 52% of all gold ever mined is used for jewellery and palatial....