Bitcoin Price Analysis: Core Also Negative
Bitcoin price reversed to the downside after a failed attempt on the resistance ceiling. As it turns out there are negative elements among the Core developers – further biasing price to the downside. Negative social mood will pull any commodity down. Last night, a tranquil Saturday night on the Andaman sea, I sent the following truncated message to the Bitcoin-developers list: Sincere gratitude to the core developers and all Core contributors. Despite pervasive negative social mood towards this group and its productive output, Bitcoin continues to improve in its security, the efficiency of....
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Bitcoin price is caught in a negative social mood. Trading below the critical $400 level, and descending, what can we say? Price is drawing lower beneath its 200-period moving average. It is not clear if we’ll see $300 eventually, but negative mood pulls the king of commodities lower. The amount of money invested in Bitcoin Core is large. Silicon Valley seems to think that they can disrupt that investment with a nilly-willy fork. That’s not clear thinking. Censorship-resistance means that Bitcoin Core remains a permanent feature and Classic(TM) and Unlimited will never succeed, like the....
The repetitive phenomenon of the fall in price of Bitcoin, coinciding with the meetings between the miners of the cryptocurrency and its core developers, has attracted concern within the industry. The recent drop in price may have been influenced by certain other factors away from the meeting. However, ruling out the impact from the meeting could mean ignoring a pattern which is seen to have developed over time. As the analysis of the possible causes of the recent loss in value of the cryptocurrency continues, considering both technical and fundamental factors and projecting the future of....
In my previous analysis Gains Erased, I had laid down a few technical considerations which forced me to think that another round of selling is in the offing for Litecoin. Today, I am going to bring to your attention another big divergence which may eventually prove to be damaging to the cryptocurrency. But before that, here is an update on the price: Litecoin is currently trading up $0.056 or 1.52% at $3.732. Presented below are the technical observations of the daily LTC-USD price chart. Litecoin Chart Structure - Similar to Bitcoin, Litecoin has completed six straight days of no....
Former Bitcoin core developer and one of the founders of the Bitcoin Foundation, Gavin Andresen, has once again expressed his negative feelings about Bitcoin Core known via Twitter after a miner with a node running the alternative Bitcoin protocol, Bitcoin Unlimited, lost $12,000 through a bug. Bitcoin Unlimited bug. News of a bug in the Bitcoin Unlimited code that had caused a miner to lose 13.2BTC, which equates to about $12,000, arose on Reddit in the pro-Bitcoin core subreddit, /r/bitcoin, where the poster proclaimed “Bitcoin.com loses 13.2BTC trying to fork the network: Untested and....
Mike Hearn has penned a new post as a follow-up to his much-discussed and debated public farewell to Bitcoin. The world’s media went critical, thermo-nuclear critical, when Mike Hearn – a former core developer in the open-source project that is Bitcoin, deemed it a ‘failed experiment’ and revealed he was done with the cryptocurrency. Hearn’s declaration resulted in massive coverage that was predominantly negative and dismissive of bitcoin, using a former core developer’s words to aid the overall narrative. The widespread attention, negative or otherwise was predictable. So too were....