Markets Update: Breaking Resistance With Solid Fundamentals
Bitcoin broke through resistance finding a new price level on February 7 and has continued its upward trend. Traders and speculators are still hoping the digital asset’s value will once again break the all-time high (ATH) of US$1,155. Bitcoin’s price had consolidated during the end of last week but now is pushing above the $1,045 range. Meanwhile, the....
Related News
Cryptocurrency markets have seen intense gains on Wednesday after the payment processor Paypal announced it would be supporting digital currencies. At the time of publication, the market cap of all 7,000+ digital assets has gained 5.6% hovering above $379 billion during the afternoon trading sessions. Digital currency markets have increased a great deal during the last 24 hours as the aggregate crypto market capitalization is nearing $400 billion. The price of bitcoin (BTC) spiked on Wednesday morning after Paypal revealed cryptocurrency support during the morning trading sessions. BTC has....
Bitcoin price meanders near its low, apparently acquainting itself with long-term support. Chart technicals to one side today, as we consider the question “Do fundamentals drive price?” Today’s article considers the bitcoin price chart in context of similar speculative markets. The discussion focusses on the notion of fundamentals. The term fundamentals is used in its broadest sense, and not in the strict investment definition that refers to company balance sheets, work in progress, and so on. Although there are parallels between the bitcoin price market and other commodity markets, as....
TomoChain’s new interoperability upgrades and DEX show the team is serious about breaking Ethereum’s DeFi dominance. The cryptocurrency market started the year in full force and with all the bullish breakouts happening it can be difficult to discern which projects are simply being driven by the macro trend and which are making gains based on solid tech developments and improving fundamentals. As the price of Bitcoin dropped more than $11,000 between Jan. 10 and Jan. 11, a number of altcoins saw double-digit losses but a few DeFi and layer 2-oriented coins bucked the trend and quickly....
Following legacy markets, Ethereum and XRP have undergone strong corrections over the past week. According to an analyst, though, the price of ETH could soon undergo a bullish recovery above $400. This comes as analysts have affirmed that ETH’s fundamentals are more bullish than ever. These fundamentals include persistent development in decentralized finance and development […]
Bitcoin plunged roughly 12 percent on Thursday, breaking below critical support levels to target $30,000 for a potential pullback. The sell-off occurred despite a positive risk-on sentiment across the traditional markets. That prompted analysts to blame a flurry of fundamentals, ranging from the US Treasury Secretary Janet Yellen’s remarks on Bitcoin’s use for illicit purposes […]