Bitcoin Price Gains on Greece: More to Come?
Last week we got pretty disappointing action in the bitcoin price, as sentiment across markets put downside pressure on the BTCUSD and we saw pretty much an entire week of flat or downside action. On Friday, shortly before the markets closed, we suggested that - depending on the response of the Greek people to proposed austerity measures in Europe, we could see some turnaround in sentiment and a shift towards global risk off assets in general markets. This was the first real opportunity we got to see whether markets view bitcoin as a risk off asset, and - to some extent at least - it looks....
Related News
Greece faces a €1.5 billion payment to the IMF expires on June 30, and to make matters worse The Eurozone portion of Greece's €245-billion bailout expires on the same day. This huge debt and interest is totally unsustainable for Greece to maintain and Greece has no more to give. This could mean Greece exclusion from the Eurozone. Would it be a good idea for Greece to renounce the euro and adopt bitcoin? This would mean giving up their sovereign monetary policy. However, the finance minister of Greece, Yanis Varoufakis, believes that because Bitcoin is deflationary, it would be bad for....
There are many factors to consider when monitoring the value of something such as Bitcoin. There is a certain psychology of markets that must be understood before making too many predictions. One is that positivity breeds more positivity. When people are feeling good about Bitcoin, they place more buy orders for it. When they are feeling negative or less hopeful about Bitcoin, they place more sell orders. Either case can affect the price in a significant way. There are many, surprisingly in wider mainstream outlets, who have attributed the recent relatively small gains of the Bitcoin....
The Greeks have made themselves heard loud and clear: In landmark voting, the people of Greece have rejected the European austerity measures with results showing 61 percent voted 'No.' This leaves the fate of Greece in the hands of its creditors, who now have to take a decision on whether to keep Greece in Eurozone or not. Bitcoin continued to gain over the weekend on expectations that Greece would say 'No.' From our last observation at $256.14, Bitcoin jumped over 7% to hit a high of $274.74, a new 3-month high. A technical look at the 240-minute BTC-USD price chart conveys that Bitcoin....
Greece, one of the world’s regions that was known for ratio, philosophy and mathematics in the ancient world is under siege. These days, Greece and the lending/repayment actions are daily in the news. A lot of people are getting worked up about the EU, the European central bank, Germany, Belgium, lending policies etc. and “the poor Greek people”. To understand the EU viewpoints on Greece, just or not, and Greece itself we will have to go back in time. In the second part, we will discuss the benefit of blockchain like technologies and Bitcoin. To understand the current crisis in Greece, we....
We had yet another exciting week in the Bitcoin markets, with the price pushing ever-closer to the $400 mark. This week, the price moved into the $390s, and closed the week out in the mid $380s, making for an overall gain of 3.07%. The week started on November 30, 2015 with the Bitcoin price sitting at $375.18, maintaining the gains achieved late last week. This price range held for most of the day, hovering in the mid $370s, aside from two fluctuations. At 3 AM, the price spiked to $383, and dipped to $367.11 at 9 AM. In Monday’s news, two interesting stories came across our desk. We....