No Bitcoin Price Drop Today: Is Stabilization Finally Coming?
Bitcoin is remaining at around the $230 mark. Yesterday, it was reported that the price had dropped to this amount, but today no further drop has been witnessed just yet. It's staying where it is, and considering the fact that drops have been occurring daily over the past week, staying at $230, despite the mediocrity behind such a stance, suddenly feels like a good thing. Is stabilization on the way? Could staying where it is be a sign of some sort that bitcoin is finally starting to strengthen its defense systems and make its way out of the foxhole? It's a little too early to tell,....
Related News
The bitcoin price has slumped again. Following our previous price piece, bitcoin dropped by $6 and is hovering around $575 at press time. However, some signs suggest that the bulls may soon be returning, putting bitcoin back on an upward path. It’s depressing at first, but most analysts believe that the bitcoin drop may finally be coming to an end. One particular source suggests that present charts are relatively mixed, and while they don’t offer serious answers, the one-day chart has “stopped declining and is even slowly turning up in some exchange charts. Hopefully, this means that we....
Is the U.S economy getting better? This appears to be the general sentiment as the Federal Reserve announced today that it would be raising interest rates by 0.25 percent (one-quarter) for the first time this year and only the second time in the last decade. Since 2008, the U.S. (much like the rest of the world) has been on pins and needles from an economic standpoint. While some argue that the country has endured certain measures of stabilization, the fact that job reports are still low and unemployment spikes have been running rampant all year makes the general public a little skeptical.....
The Bitcoin price has just broken through the $15.4 high that it last set in August, making today's maximum of $15.68 at the time of this writing the highest that the Bitcoin price has been since July 6, 2011. The spike follows a roughly two-week-long rise that has been bringing the price up by an average of about 10 cents per day since roughly January 7, turning the rally into an all-out buying rush as the price battered for two hours, and finally broke through, the psychological barrier of $15. The near-term cause of the sudden increase was the Coming of Age Day, a banking holiday in....
Bitcoin price dropped today to a low of $228.45. It seems that the buying power of the market didn't succeed in maintaining the price above the $256 support level for a long time. By looking at the 1 hour Bitfinex (BTC/USD) chart from tradingview.com and plotting the 20 day EMA on top of the chart, we can see how bitcoin price exhibited a rather steep drop from $268.34 to around $228.45 today. The bearish wave seems to be gaining strength as shown by the 7 successive red bearish candlesticks on the 1 hour chart. Also, the price has been trading below the 20 day EMA during most of today's....
Here's a look at what we are focusing on in the bitcoin price this morning. Right then. The final day of the week, here already. Where will the bitcoin price take us today? The answer we’re all hoping for is… Up! We’ve topped out around 775-780 overnight, putting us (and to steal a phrase from last night’s analysis) within touching distance of the 800 mark. Will this finally be the day we reach it? Maybe. When 700 broke, price toyed with the level for a while before finally committing. There’s a chance that we might see some similar action again, as markets bustle at either side of the bid....