Bitcoin risks worst August since 2015 as hodlers brace for 'Septembear'
Serious cold feet over the outlook for monthly timeframes with September historically a "red" month. BItcoin (BTC) is on track to see its worst August performance since the 2015 bear market — and next month may be even worse.Data from on-chain analytics resource Coinglass shows that BTC/USD has not had an August this bad for seven years.September means average 5.9% BTC price lossesAfter two major BTC price comedowns in recent weeks, Bitcoin hodlers are understandably fearful — but historically, September has delivered even worse performance than August.At $20,000, BTC/USD is down 14% this....
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Bitcoin finally had a successful comeback towards the end of 2015, declared by many as the “Year of the Blockchain.” With all the hype surrounding Bitcoin and the blockchain during 2015, there has been much speculation towards next year’s approach to cryptocurrency. As 2014 was filled with scandal, Altcoins, and ending up being the worst global currency of that year. The New Year is approaching, and many are wondering what to expect from the fun and volatile world of Bitcoin. 2015 has proven well for the digital currency, showing remarkably better performance than in 2014. Bloomberg....
Bear market fractals, weak technicals and macro risks continue to signal more pain for Bitcoin ahead. Bitcoin (BTC) recovered modestly on Aug. 20 but remained on course to log its worst weekly performance in the last two months.Bitcoin hash ribbons flash bottom signalOn the daily chart, BTC's price climbed 2.58% to $21,372 per token but was still down by nearly 14.5% week-to-date, its worst weekly returns since mid August. Nonetheless, some on-chain indicators suggest that Bitcoin's correction phase could be coming to an end.That includes Hash Ribbons, a metric that tracks Bitcoin's hash....
It has been said that if bitcoin had first focused on its underlying blockchain technology rather than its payments capabilities, it may have gained wider adoption sooner. 2015, it seems, has been the year to confirm that theory. State and federal regulators have spent most of 2015 focused on the risks attendant to the use of virtual currency. These include the lack of consumer protection and anti-money laundering (AML) risks; a continued struggle to define virtual currency (is it "currency", "money", "property", "security", "commodity"); and how to create a workable regulatory framework....