Bitcoin price dips to $32.5K on 'consistent' new China FUD
BTC/USD sheds $1,000 almost instantly as China's third-largest bank puts the cats amongst the pigeons in early trading. Bitcoin (BTC) shed $1,000 in minutes on June 21 as fresh news from China succeeded in routing bulls yet again. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView3rd biggest Chinese bank warns on cryptoData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local lows beneath $32,500 on Monday.The cause, which disturbed a day of recovery from another dip, appeared to once again come from China via a major bank statement that confirmed it would....
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Yesterday's final analysis post identified a set-up for another wave of advance. Bitcoin price action, since, has confirmed the potential move - and it is, apparently, now underway. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 14h54 UTC. BTC-China 4-Hour Chart. From the analysis pages of xbt.social, earlier today: The chart, above, is a 4hr BTC-China chart, but the price pattern is consistent across eight of the most popular exchange....
Bitcoin price and market value have been less than volatile for the majority of 2015, but a Bitcoin bull market run has been started in China recently. The last two weeks have seen price values increase as much as 20%, peaking at US$295 on Sunday. This coincides with recent currency market manipulations of the Chinese Yuan/Reminbi by the Chinese government. In the West, speculation of why Bitcoin has been on a “bull run” have centered around the recent EU VAT tax ruling in Bitcoin’s favor, but nothing correlates directly to the spike like the moves made in China. Provided by ZeroHedge in....
The price of Bitcoin seems to be climbing again. According to CoinMarketCap, the price of the top digital currency jumped from a rate of $618 earlier on Tuesday October 11 to $633 in three hours at a +2.5% difference. The rise may have to do with the China's yuan fall to its lowest level in six years early Monday October 10 before erasing the losses on the first day of trading after a week-long holiday. Some China watchers have wondered if any signs of yuan weakness following the holiday would signal that Beijing was putting the currency back on a slow depreciation path after holding it....
Litecoin price is up over 10% and it broke the $80.00 resistance against the US Dollar. LTC is consolidating gains and dips are likely to be limited below $78.00 and $76.50. Litecoin started a strong increase above the $75.00 and $80.00 levels against the US Dollar. The price traded to a new monthly high near […]
Bitcoin's production cost is dropping, and price action often rebounds to new highs if it dips below it, data shows. China's crackdown on Bitcoin (BTC) mining may have unintended benefits for BTC price action, one analyst suggests.In a tweet on June 18, Charles Edwards, CEO of investment firm Capriole, argued that the Chinese miner exodus was already lowering Bitcoin's potential price floor.Don't believe the China FUDAs a shake-up sees Bitcoin hashing power redistributed away from China, Bitcoin's electrical cost — the combined cost of keeping the network running — is dropping.As Edwards....