CPI Crushes Bitcoin Price Down To $17,900, New Lows Imminent?
Bitcoin lost support at $18,600 and trended lower close to its yearly bottom at $17,900. The cryptocurrency managed to stop the bleeding at these levels, but the general sentiment in the markets seems to have flipped from dubious to fearful. Related Reading: BTC To See Correction Below $10K, Predicts Midas Touch Consulting Founder At the time of writing, Bitcoin was trading at $18,300 with a 4% loss in the last 24 hours and a 9% loss in the past week, but it has been rebounding over the past hour. Other major cryptocurrencies followed BTC’s price into the abyss and are recording massive....
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Digital currency markets are on a tear this week, as a myriad of crypto assets have seen enormous gains during the last two days. Then finally, on November 30, 2020, the largest blockchain in terms of market cap, bitcoin (BTC) surpassed its 2017 all-time highs (ATH) after crossing the highly anticipated $19,860 zone on Monday morning (EST). The entire cryptocurrency economy has spiked in value considerably and on Monday, November 30, 2020, as there’s over $34 billion in global trade volume. Moreover, out of the 7,500+ crypto-assets in existence, the market valuation is hovering well....
Bitcoin’s price action has been rather lackluster ever since it saw its sharp decline to lows of nearly $28,000 just a few days ago The selling pressure that sent it down to these lows has since subsided, but bulls have been struggling to extend the momentum that first sparked this movement Where the entire market trends in the mid-term may depend largely, if not entirely, on whether Bitcoin can sustain the rebound seen in the […]
Bitcoin price slammed down to support early today before embarking on a persistent rise that is now correcting. A directional move is imminent and today’s Fed rates announcement may be the watershed. Finally, we’re seeing compression in both the 15min and 1hr charts. The 1-day chart (not shown) is currently trading below its 20MA, but remains high above the critical 200MA. The combination of bearish bias in the 4hr and 1day charts, and the compression seen in the 1hr and 15min charts implies a move is imminent. One concern is that the structure of the past week’s price pattern is unusual.....
After days of underperformance, Ethereum’s price is finally catching up to that of Bitcoin The second-largest digital asset saw a massive overnight rally that led it all the way up to highs of $415 before it found any resistance This surge marks a notable climb from its recent lows of sub-$370 that were set just a few days ago It has also reinvigorated altcoins, with ETH’s uptick in price allowing many smaller assets also to […]
Bitcoin is exploding higher on the back of two extremely positive fundamental events: PayPal adding support for cryptocurrency and the U.S. confirming an imminent fiscal stimulus package. BTC currently trades for $12,800, far above the lows seen just a week ago at $11,200. Source: BTCUSD from TradingView.com The price of Bitcoin plunged last week as […]