Markets Weekly: Seeking Answers After The Crash
Bitcoin's price over the past week was a scene of panic for many, but also jubilation for some, as it plummeted by over $100 over two days, only to quickly regain half of those losses. The well-prepared trader would have profited from this intense volatility. The bitcoin price opened the week at $267.09 and closed at $209.63, according to the CoinDesk Bitcoin Price Index. That's a loss of $57.46 or 22% over the seven days. The biggest story, of course, was the price crash in the first days of the week, when the price lost 37% of its value in two days, hitting a low of $170.21 on Wednesday,....
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This past week was an exciting one, with the rising bitcoin price, community drama, and shaky financial markets giving us a lot of things to watch. China started the week with a massive stock market crash, putting the global economy on high alert. Meanwhile, in the Bitcoin community, we discovered that the Cryptsy team moved out of their building in Delray Beach, Florida without warning — no one knows where they are. The week started off on Monday, January 4, 2015, with the Bitcoin price following the $430s pattern established in the previous week. Nothing dramatic happened on the markets,....
All was quiet in the bitcoin markets this week, with price and trading volume both remaining relatively flat. The bitcoin price opened the week at $375.24 and climbed just under $2 to close the week at $377.09, according to the CoinDesk Bitcoin Price Index. Bitcoins traded across all exchanges tracked by Bitcoinity fell slightly by 2.4%. The number of coins that changed hands for the week ending 30th November stood at 3.59 million, while the previous week saw 3.68 million bitcoins traded. Despite that total figure, however, the drop on most major exchanges was more pronounced. Bitstamp and....
Switzerland’s largest bank, UBS, has published guidance for clients about investing in bitcoin. The bank answers some important questions, such as whether one should buy bitcoin and other cryptocurrencies and whether bitcoin can be used to diversify portfolios. ‘Should I buy’ Bitcoin? UBS Answers UBS published a detailed report about bitcoin last week. It answers some questions that the bank is currently discussing with its clients, explained the report authors, including the firm’s chief investment officer of global emerging markets, Michael Bolliger. UBS Group is....
Bitcoin price is currently trading at around $23,500 at the time of this writing, up over 30% from lows and 10% for the week. The recovery has brought the weekly RSI out of oversold territory after reaching historical levels. Here is why the setup could be the buy signal bulls have been waiting for, and how the Relative Strength Index currently resembles the last bear market bottom. Weekly Bitcoin RSI Recovers From Historical Oversold Conditions In technical analysis, sometimes less is more. Traders commonly fill a chart with lines or indicators, desperately seeking an edge in the market.....
Ethereum has retraced to levels not seen since the beginning of 2021. The cryptocurrency records a 50% correction in the weekly chart and has fallen from an all-time high at around $4,000. At the time of writing, ETH trades at 1,927 with 22.9% losses in the weekly chart. The crash in ETH’s price was preceded […]