FED Announcement Pushes Bitcoin Price Up, Will BTC Sustain Momentum?
Market expectations were met as the U.S. Federal Reserve (FED) announced an interest rate hike of 25 bps pushing Bitcoin into the green. The cryptocurrency was hinting at bullish price action during the week, as today’s Federal Open Market Committee (FOMC) closed in. Related Reading | Mike Novogratz: Bitcoin Price To Range Between $30k-$50k Throughout The Year At the time of writing, Bitcoin trades at $41,300 with 5% profits on the last day. BTC’s price was able to break above this price point after a brief period of volatility as FED Chair Jerome Powell began its intervention. BTC’s....
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Trading with a slightly negative bias, Bitcoin has slipped to $244.28, down 0.94 percent yesterday. Even though the uptrend is intact, Bitcoin has failed to sustain above a key technical level which has led to severe deteriorations in the technical indicators. Let us discuss each of the factors in the technical analysis of the daily BTC-USD price chart below. Bitcoin Chart Structure - As has been marked in the chart above, the upward channel in which Bitcoin has been trading since the last week of September clearly holds. However, as discussed earlier, Bitcoin has failed to sustain above....
With bitcoin’s price falling, how much more loss can the market sustain and is there more short-term downside?
Break of psychological threshold pushes largest cryptocurrency's year-to-date return to 70%, as a new breed of upstart tokens pushes industry market cap past $1.5T.
During the course of the week digital currency markets have seen colossal gains and one crypto asset, in particular, XRP, has jumped significantly in value over the last seven days. The distributed ledger token XRP climbed 25% upwards on Tuesday alone, and seven-day price stats show the coin has gained 123% as well. At the time of publication, XRP is currently swapping for $0.677 per coin as it gained more than 25% during the early morning (ET) trading sessions on Tuesday. The coin holds the third-largest market valuation today with a current liquid market cap at around $22.55 billion. The....
Bitcoin and altcoins surprised investors with a sharp bullish breakout today, signaling a possible change in the short-term trend. Bitcoin (BTC) soared above $40,000 on Feb. 28 even though the S&P 500 remained soft. This suggests that the correlation between Bitcoin and the U.S. equity markets may be showing the first signs of decoupling. If bulls sustain the price above $38,500 till the end of the day, Bitcoin would avoid four successive months of decline.The volatility of the past few days does not seem to have shaken the resolve of the long-term investors planning to stick with their....