Bitcoin traders worry as BTC price remains pinned below $50K
The price of Bitcoin remains stuck in a downtrend after failing to close above $50,000. The price of Bitcoin (BTC) has failed to break above the psychological $50,000 resistance going into the weekend and has dropped below the $48,000 level on March 6. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingviewNow traders are watching whether BTC/USD can break above the $50,000 level to resume the bull cycle. Conversely, a drop below the recent lows below $46,000 will likely open the door to new lower lows, which may then pose a threat to the bull run that has been in place for almost a....
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Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This WeekBitcoin traders worry as price remains pinned below $50,000After reaching lows of $43,500 last Sunday, Bitcoin staged a comeback, managing to hit $52,000 on Wednesday. There was optimism that the correction was over and that BTC would now have the chance to return to all-time highs.Alas, the best-laid plans of mice....
As expected, the Bitcoin markets have been relatively stable over the past week, although it now looks like a rally up to resistance is becoming more and more likely. Now that a week has passed since the halving and there has been no technical incident, no significant drop in hash rate, no network clogging fee event, and no major selloff in price, we think the market is simply digesting its new economic reality for the time being. Unfortunately for traders this digestion period means a lack of volatility due to a tightening consolidation, however as we know range contraction inevitably....
Bitcoin price remains pinned below $50,000 but the drop in BTC dominance could propel ETH, BNB, XMR and CAKE higher over the short term. Corrections in a bull phase are usually a bullish sign as they reduce the frothy excitement and allow stronger hands to enter the markets. However, the recent correction in Bitcoin (BTC) from its all-time high at $64,849.27 does not seem to have scared novice traders. Data from DappRadar shows that decentralized exchange volumes have picked up in the last week as traders may have exited profitable Bitcoin positions to buy altcoins at their current rock....
As expected, the bitcoin markets have been relatively stable over the past week, although it now looks like a rally up to resistance is becoming more and more likely. Now that a week has passed since the halving and there has been no technical incident, no significant drop in hash rate, no network clogging fee event, and no major selloff in price, we think the market is simply digesting its new economic reality for the time being. Unfortunately for traders this digestion period means a lack of volatility due to a tightening consolidation, however as we know range contraction inevitably....
Working in the Bitcoin world is like working for a drug addict with bipolar disorder. There are brief periods of astonishing, irrational exuberance followed by long periods of deep existential dread over basically nothing. During the good times, nothing can damage Bitcoin’s spirit. But for most of the time, bitcoiners are a bunch of namby-pamby worry-warts who wet their pants over everything. The Bitcoin world is neurotic in the way that fear dominates it. If there is not enough merchant adoption to satisfy them, they worry about hoarding and a liquidity crunch. If there is too much, they....