Bitcoin Price Analysis: 5/23/2016
Bitcoin is forming a short-term flat between two key resistance lines. An exit from that flat could mark the beginning of a medium-term trend. Which direction will Bitcoin choose? Bitcoin’s price rebounded from the level of $442.2 yet again, thus proving its significance. A new level has formed below it, at $435.6. Because the price has stopped at the peak of the long-term correction, a continuation of the movement will mean that there is at least a new medium-term trend. Consequently, the current levels of the short-term flat will most probably be a starting point for a new weekly trend.....
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The year 2016 saw Bitcoin price increase by over 50 percent due to various favorable factors. The year 2016 has been great for Bitcoin. The cryptocurrency valued at about $425 during the beginning of 2016 climbed to $950 by its end. But, what led Bitcoin price to register a 54 percent annual gain in 2016? According to analysis, the digital currency had a lot of influencing factors pushing its price upwards by driving demand. The reasons, listed by us in the past and again reiterated by a prominent business magazine includes; Donald’s Trump’s victory in the US presidential elections which....
2016 has been an exciting year for cryptocurrencies. With most of the major open-source currencies showing growth this year and with some expected to see significant expansion in 2017, 2016 reflects a loss of faith in traditional money systems in light of the global populism trend and a growing confidence in the underlying technologies in play for crypto transactions. As the year comes to an end, CoinDesk took a moment to look at the best-performing cryptocurrencies by market capitalization for the year and the factors that affected the markets throughout the year. For the sake of this....
The bitcoin price chart has been sluggish with trade volume gradually decreasing during the past several weeks. The ever-present prospect of a potential price rally motivates most bitcoin speculators to continue hoping despite a protracted bear market. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h20 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, earlier today: We're finally seeing the 1-day moving averages....
2016 has been an excellent year for Bitcoin in many respects. Scalability innovations like Segregated Witness have been introduced to the Bitcoin community, many successful Blockchain and Lightning Network tests have taken place and many new markets have turned to Bitcoin as a viable currency option. The price of Bitcoin has been a major positive in 2016 as well, with its value up by well over 75 percent. Now, Dec. 1, 2016, marks the highest Bitcoin price measured in over two and a half years. New Bitcoin high for 2016. According to BitcoinAverage, the price of Bitcoin passed the $760 mark....
Bitcoin price is stuck inside a resistance zone. A skylight (and escape rally) is $20 above current price ($450 Bitstamp) but the market is turning its toe in the sand, and leaving the indicators to revert to neutral. Yesterday’s analysis considered long-term horizontal support and resistance (S&R) zones in the 1-day candle price chart since April 2014. Today we look at 2016 price action in the 4-hour chart. The same S&R zones are shown, with the addition of a diagonal support level below the rising price pattern from the January 2016 low. This ascending level represents a Fib line....