Bitcoin Price Slowdown
Bitcoin price continues trading above support as 4,000 CNY and $600 holds. Slowing price action implies an imminent ramp-up in volatility, yet technical analysis suggests traders wait for additional consolidation. A bullish price pattern in the 1hr chart may be setting up a surge, however, a look at the 1day chart (above) shows that the indicators are not typically aligned for a strong wave of advance. Horizontal bars show the indicator configuration typically seen at the start of large waves of advance: price is above its 1day 200MA (red). Notice the position of MACD above its zero line....
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New data may suggest that almost all the excess savings accumulated during COVID have been spent. The timing might correlate with the slowdown in Bitcoin’s price. Could The Bitcoin Slowdown Be A Result Of American Consumers Spending Their Excess Savings? As per a report from Zero Hedge, it looks like US consumers may have already […]
Bitcoin was back in the red during Friday’s session, as the token was once again trading below $19,000. The recent decline comes as the global economic slowdown has become more apparent. This week, both the Bank of England and United States Federal Reserve have moved to increase interest rates, with the Bank of Japan also intervening in the currency market. Ethereum was also lower on Friday, falling below $1,300. Bitcoin Bitcoin (BTC) fell back below $19,000 on Friday, as financial markets continued their sell-off, while the global economy continued to slow down. BTC/USD was moving....
KPMG, the global audit and consulting firm has presented a report which speaks of declining crypto investments. The highlights in those reports were that globally, the interest in crypto along with investments was depreciating. The report precisely signalled that there shall be a slowdown in investments for the rest of this year. The global investments […]
Bitcoin price has crossed the $270 mark, which is really good news for bitcoin after it fell drastically from the $300 pedestal in July. The prices have touched $270 a couple of times since then. From the past few days, the bitcoin price has seen a positive trend. The trend seems to be influenced by a lot of reasons. But the most important reason for prices to shoot further up from previous price point seems to be influenced by reports pointing towards a global economic slowdown. Bitcoin price received an initial boost after the main Chinese exchanges Huobi and OKCoin experienced a surge....
A look at what increasing capital outflow from China suggests about bitcoin adoption, and what implications a Chinese slowdown might have for the bitcoin price going forward. At the end of last month, we learnt that Chinese capital outflows during 2015 totaled $676 billion net. The data marks only the third net capital outflow since the turn of the millennium, and by far the biggest, with the other two coming in at less than $140 million net (2012,2014). The outflow comes against a backdrop of wider economic weakness in China and emerging markets, and quantifiably highlights China’s....