Bitcoin Price Rally Rages on, Market Cap Passes $10Bn USD
At press time, Bitcoin has touched $640 USD, and everyone is celebrating. Bitcoin supporters are holding strong and enthusiasts are happy to see the price as high as it has been since 2014. The 2016 Bitcoin Rise: This Is Gentlemen! As the value of Bitcoin grows, the currency passed the $10 billion USD market capitalization during the overnight of June....
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Bitcoin has seen a strong push higher today that allowed its price to break above the key $19,000 level that has been so pivotal for its price action This rally came about after a period of weakness that caused the crypto to plunge as low as $17,600 The selling pressure seen around its current price […]
On-chain data shows Bitcoin exchange inflows have continued their recent sharp rise as the price of the crypto drops further. 7-Day MA Bitcoin Exchange Inflow Continues To Point Up As pointed out by an analyst in a CryptoQuant post, BTC inflows are steeply rising as the selloff in the market rages on. The “exchange inflow” […]
The chase for the bitcoin bottom is still on since the digital asset fell below its $20,000 price level. Given that the bear market has not been long in the making, it stands to reason that the bull market isn’t here just yet. However, being able to pinpoint when the cryptocurrency has reached as low as it will go can help make smart investment choices and the previous bear trends can shine a light to how it might play out. Previous Bitcoin Bear Markets The most recent bitcoin bear markets point towards some important trends that may occur before a bitcoin bottom is established. The 2018....
Amid increasing hype about blockchains and distributed ledgers, the value of global cryptocurrency markets has risen rapidly so far in 2016. As of mid-June, the value of all blockchain-based currencies in circulation was $14.37tn, and the price of bitcoin was, as it has been historically, a leading driver of this growth. At June's highs of $700, the price of bitcoin had risen almost $300 since the end of May. As the value of bitcoin continues to surge, many have looked at bitcoin’s market capitalization as an indication of bitcoin's value. With a total value of all bitcoins in existence at....
Heavy demand in China has propelled bitcoin's price to $643 and the total value of all bitcoins in circulation to $10 Bn, which is higher than Twitter Inc’s market capitalization ($9.5 Bn). Its China Again. Heavy selling of the Chinese Yuan in exchange for Bitcoin has been the prime driver of the rapid increase in Bitcoin's price. The price of Bitcoin in Chinese exchanges like OKCoin and Huobi is CH¥ 4,385 (~$668) which is a significant premium to the the price in global exchanges like Bitfinex and Poloniex. Restrictions on capital outflows imposed by the Chinese government have resulted....