Stock sell-off tanks Bitcoin price, but traders expect a bounce near $42K
Fear over the Evergrande situation weighed heavily on equities markets and Bitcoin price, leading traders to expect a bounce in the $42,000 to $38,000 zone. The cryptocurrency market faced a fresh round of selling on Sept. 20 as global financial markets fell under pressure thanks to fears surrounding the potential default of Evergrande Group, a China-based real estate company whose collapse could send ripples across equities markets. Data from Cointelegraph Markets Pro and TradingView shows that the early morning sell-off in Bitcoin (BTC) intensified into midday as the price dropped to a....
Related News
One of the world's largest Bitcoin exchanges, OKCoin, has just announced yet another service they will be adding for their Bitcoin traders - futures. Futures allow for traders to hedge their risk when dealing with high levels of volatility, which is one of the largest challenges Bitcoin faces at this time. Futures trading is something offered on most stock brokerage service such as E*Trade or TDM Ameritrade, and is now coming to the Bitcoin arena. OKCoin's futures trading allows traders to "lock in" future prices to buy their coins. Futures are legally binding agreements between two....
The price of Bitcoin is consolidating around $19,000 as traders brace for a possible pullback. The price of Bitcoin (BTC) was rejected by the $19,500 resistance level yet again on Dec. 4, with traders becoming increasingly uncertain about what's next for BTC/USD. Bitcoin rally keeps stalling at $19,500Some foresee the dominant cryptocurrency undergoing a consolidation phase or another minor correction in the near term, particularly as the U.S. dollar is showing signs of a possible recovery.Others, however, expect the crucial $18,500 support level to hold, which would likely set up BTC to....
Daily closes above $30,000 could be a sign that BTC price is ready to consolidate, but traders warn against “generational bottoms” and “V-shaped” recoveries. Altcoins saw a relief bounce on May 13 as the initial panic sparked by Bitcoin's sell-off Terra's UST collapse and multiple stablecoins losing their dollar peg begins to decrease and risk loving traders look to scoop up assets trading at yearly lows.Daily cryptocurrency market performance. Source: Coin360Despite the significant correction that occurred over the past week, Bitcoin (BTC) bulls have managed to claw their way back to the....
Bitcoin’s price has been facing immense sell-side pressure throughout the past couple of days This has mainly resulted from the revelation of multiple bear-favoring news events These events – including the BitMEX imbroglio and President Trump’s health – have led many analysts to expect it to see significantly further downside in the days and weeks ahead They have also caused Bitcoin to break its former correlation with gold and begin, once again, moving in sync […]
Stocks and Cryptocurrencies. In the world of stocks and shares, we use specific language. We choose our phrases carefully. The world of crypto has now adopted that very same language. In order to assist in the education of future traders, I have put together this helpful guide. Now you will be able to speak fluent stockbroker. Use the tools wisely in the world of Crypto and don't buy the shiny suit just yet. Phrase 1: "This stock/Coin is currently overvalued": It's doing well, and I don't have any. Phrase 2: "There is great value to be had in the market/stock/coin at this time": It's....