Two Big Factors Are Driving Up Bitcoin Prices
The price of bitcoin rose close to 10% this week, pushing higher as bullish market sentiment and low liquidity created an ideal environment for gains. The digital currency enjoyed notable increases during the week, surpassing $600 on Sunday, 4th September, while largely avoiding any significant pullbacks or corrections. Sentiment is so strong "players are not willing to bet against the rise of BTC/USD," according to Petar Zivkovkski, director of operations for Whaleclub. He told CoinDesk: "New short position openings are almost at all-time lows, [which] indicates that the....
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There has been a lot of talk about a Grexit, which is short for a Greek exit from the euro zone, these days since the cash-strapped nation might soon be forced to default on its loans. The country has a set of debt payments due this month and there is not enough money in the government's offers to meet these obligations. Some traders have speculated that this could spark a huge outflow of cash from the euro region, possibly leading to an influx of investments in cryptocurrencies, eventually driving bitcoin prices higher. However, some members of the bitcoin community say that this is a....
The bitcoin price has stayed at the same level all week. However, the market has been building a technical trigger and adding bullish consensus, which has sustained all factors that back the next rally from $650 to $820. Fundamentals and political factors promote the next rally, which is expected to increase the bitcoin price $650 to $820. From the current support level determined in the $580 $600 range, bullish consensus allows a sustained, upward movement that will probably ignore every intermediate resistance from the present technical zone to $820. A new cycle has begun, with the....
Is the early stage of the hard fork potentially driving this price rally of Bitcoin? It’s definitely possible, but it could also be a variety of other factors as well. Over the past week the price per Bitcoin has shot up almost $40.00 USD and there has been some speculation about whether that spike has had anything to do with the news about the hard fork to Bitcoin Classic. There have been some concerns about the hard fork due to some issues with scaling, adoption, regulation, legality and liability. Yet there have been vocal supporters of the hard fork in the space that have championed....
Bitcoin has been spiraling lower ever since it tapped its all-time highs within the mid-$19,000 region There are a few factors driving this move lower, including selling pressure stemming from the rejection, fear regarding a regulatory crackdown in the U.S., and withdraws on OKEx resuming The confluence of these factors has created a perfect storm for bears, and they appear to be taking full advantage of it One trader believes that Bitcoin has quite a […]
Bitcoin, Ethereum, and the entire crypto market is often prone to price fluctuations. That’s why crypto investors must carefully monitor the market movement to avoid huge losses when prices are low. The crypto bear market could also be a time for long-term investors to leverage low prices and purchase assets which they can sell during bull runs. However, the past months’ losses have been nearly unbearable for investors as factors such as interest rate hikes and inflations escalated the issues. Nevertheless, the crypto market has recorded some relief in the past week as some assets....