Bitcoin Rises, Footsie Falls, as UK Heads to Historical Elections
Theresa May, the British unelected current Prime Minister, has surprised and at the same time excited everyone by all the sudden calling a snap election in what may be an historical two months of campaigning. “It was with reluctance that I decided the country needs this election, but it is with strong conviction that I say it is necessary to secure the strong and stable leadership the country needs to see us through Brexit and beyond,” May said according to Reuters. No one was expecting the British election as May has univocally stated there will not be one, but the surprise u-turn sent....
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The Bitcoin price, which saw a 32% increase in value from May 20th to May 26, has slowed to a halt. On May 20th one Bitcoin was worth $444, and on May 26th one was worth $587. This volatility has not been uncommon in Bitcoin's history. Bitcoin has seen numerous rises and falls in value. Speculations have arisen about the cause of this increase. Volatility. [dropcap size="small"]Bitcoin has seen numerous rises and falls in value over short periods of time. The roller coaster value is often attributed to good or bad news. For example, the value drops when people believe that China will ban....
It’s time for a new show. In TALKING HEADS, we will ask the experts about the cryptoverse’s overarching themes and latest news. It’s that simple. And, since we’re starting on Bitcoin Day, the first TALKING HEADS has to be about El Salvador adopting Bitcoin as legal tender. However, we’re going to flip the narrative on […]
Bitcoin triumphantly rises once more, reaching an all-time high today at around 2PM London time in one of the most liquid exchanges: BTC China. Proclaimed dead or worthless so often by so many, the currency has been turning heads in the past few weeks when a two years long bull market accelerated around December the 20th, increasing bitcoin’s price from around $800 to almost $1,100 in just two weeks, while at BTCChina it reached an all-time high of just under $1,150 (7,990 CNY according to BitcoinWisdom) higher by almost 400 points than its previous all-time high of 7,588 CNY reached on....
Although cryptocurrency markets started the weekend lower, XRP was able to avoid the red wave, rising by as much as 7% in the process. LUNA on the other hand was lower, with ANC also down close to 10%.
Ripple (XRP)
XRP rose to its highest level in almost one month on Saturday, as the world’s sixth-largest cryptocurrency was today’s big gainer.
XRP/USD rallied to an intraday high of $0.846 to start the weekend, which is marginally below its long-term resistance level of $0.850.
As of writing, XRP is trading 6.4% higher, with earlier gains....
The relative strength index is making lower highs while correcting from its overbought area. The run-up in the Bitcoin (BTC) price toward $50,000 last week risks exhaustion due to a mismatch between the cryptocurrency's price and momentum trends.So it appears the Bitcoin's price and relative strength index (RSI) have been moving in the opposite direction since late July. In doing so, even a strong push higher in the BTC/USD bids has coincided with lower peaks in momentum, suggesting that the pair's upside momentum is weakening out.Bearish divergenceA normal RSI momentum tends to tail the....