Will the Bitcoin Price Hang Where It Is for a Little While?
Since our previous look at the bitcoin price, bitcoin has enjoyed a hike of about two dollars. It’s not terrible; after all, any rise in price is something worth celebrating, but at the same time, $2 is nothing to jump and holler about. Considering bitcoin’s operations in the past, it’s probably safe to say that Bitcoin has found a spot to hover close and settle down for at least a little while. What Is the Bitcoin Price Doing? As one source puts it: “The Bitcoin price has not made any significant move during the quiet Saturday trade. The start of the day in the U.S. may change that, but....
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Bitcoin traders say the bottom is in, but it’s important to also consider BTC’s correlation to equities markets. Bitcoin (BTC) price traded down 23% in the eight days following its failure to break the $45,000 resistance on Feb. 16. The $34,300 bottom on Feb. 24 happened right after the Russian-Ukraine conflict escalated, triggering a sharp sell-off in risk assets.While Bitcoin reached its lowest level in 30 days, Asian stocks were also adjusting to the worsening conditions, a fact evidenced by Hong Kong's Hang Seng index dropping 3.5% and the Nikkei also reached a 15-month low.Bitcoin/USD....
Volatility is closing in, but traders may have to wait until the end of the year if history repeats itself, one analyst warns. Bitcoin (BTC) waited for cues at the Oct. 24 Wall Street open as expectations of a breakout ran high.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewHang Seng drops most since 2008Data from Cointelegraph Markets Pro and TradingView tracked a mundane trading day for BTC/USD after the pair hit weekly highs of $19,700 overnight.Despite what Michaël van de Poppe, CEO and founder of trading firm Eight, called “way worse than expected” manufacturing data from....
BTC’s lack of integration with traditional finance and its inability to be forcefully sold to cover financial losses mean the price might not ‘collapse’ if there is a global stock market meltdown. One of the reasons behind Bitcoin's (BTC) volatility, the substantial price oscillations that occur regularly, is the discrepancy of its use cases. Some pundits deem it "digital gold," a truly scarce and perfect store of value (SoV). Others consider Bitcoin a technology project or a type of software with a corresponding network.El Salvador's adoption as legal tender will likely evidence the means....
A failure to hold $40,000 comes as the U.S. dollar currency index finally weakens. Bitcoin (BTC) stayed rangebound on April 29 as a welcome retracement saw the U.S. dollar come down from 20-year highs.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader eyes $40,600 as "crucial" breakerData from Cointelegraph Markets Pro and TradingView showed BTC/USD hugging support near $39,300 after failing to hold $40,000.The pair had managed some modest upside despite a “parabolic rally” in U.S. dollar strength throughout the week.The U.S. dollar index (DXY) finally began cooling Friday....