Bitcoin fails to beat $23.4K sellers as US payrolls upend inflation debate
BTC price action stays in familiar territory as analysts discuss the true nature of estimate-beating payroll data. Bitcoin (BTC) saw fresh rejection at $23,500 resistance on Aug. 5 as United States equities failed to embrace surprisingly strong payroll data.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView"Collapsing real wages" poke fun at payroll printData from Cointelegraph Markets Pro and TradingView followed BTC/USD as bears kept the market in its intraday trading range.Wall Street opened with a whimper despite U.S. payrolls for July coming in at twice estimated levels. The....
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Here I will reveal the top 5 reasons why bitcoins beat dollars, both now, and in the future. For the sake of brevity, I limited this list to the top 5, but may not be limited to these five alone. The dollar certainly has it's own inherent advantages, but it will prove fleeting in nature in the coming years, whereas bitcoin's advantages are built in to the technology, to stand the test of time. Number 1 - Appreciation Beats Inflation. Inflation, here, means that the amount of U. S. dollars, the "Global Reserve Currency," in circulation continues to increase. And it has, consistently, since....
During the first week of July, bitcoin prices have risen to their highest level since mid-June, coming as U.S. Non-Farm Payrolls handsomely beat expectations. However, as we head into the remaining weeks of the month, questions still linger on if this momentum can be maintained, despite the current uncertainty in the market.
Bitcoin’s Current Market Status
Looking back at June, bitcoin (BTC) started the month trading around the $30,000 mark, however exactly four weeks ago today, prices fell significantly, with markets still yet to recover from this drop.
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Following two consecutive sessions of declines, cryptocurrencies rebounded on Friday, as markets prepared for the first non-farm payrolls of the year. ETH was up 8% as of writing, with the crypto market cap 4.4% higher. Bitcoin On the first Friday of each month, non-farm payrolls in the United States are released, and this typically sees an increase in market volatility, across all asset classes. The world’s largest cryptocurrency, bitcoin, which fell to an intraday low of $36,388.14 during yesterday’s session, was up nearly 5% today, potentially benefiting from this....
Bitcoin once again slipped below $20,000, as market uncertainty rose ahead of Friday’s Non-farm payrolls report. Tomorrow’s payrolls are expected to come in at 300,000 jobs, which is lower than July’s 528,000 figure. Ethereum also declined, as the price moved away from the $1,600 region.
Bitcoin
Bitcoin (BTC) briefly fell below $20,000 on Thursday, as crypto traders began to anticipate tomorrow’s non-farm payrolls report.
Following an additional 528,000 jobs in the U.S. economy in July, last month’s figure is expected to show an....
Bitcoin remains on a positive recovery trend. One that could very well see it beat the coveted $45,000 resistance point. This price level remains the level to beat for the digital asset as this is where bears continue to mount the most resistance. Bitcoin had tested this level in the early hours of Friday but like always, met significant push that caused it to crash back down below it. In the wake of this crash, the market saw bitcoin lose almost $1,000 in the space of two hours. However, this dip would be defined by a higher low as bitcoin had been able to find support above $44,000 and....