Analysts say Bitcoin price ‘dips are transitory,’ suggesting BTC will soon he...
Rising U.S. inflation and overblown fears about Evergrande contagion might be factors behind BTC’s recent pullback, but most analysts view the drop as a “necessary retest.” Volatility is the name of the game in the cryptocurrency market and the Nov. 11 evening sell-off in the price of Bitcoin (BTC) is a reminder that new all-time highs are often followed by sharp whipsaws to underlying support levels. Data from Cointelegraph Markets Pro and TradingView shows that after dropping to a low near $62,800 late on Nov. 10, the price of Bitcoin managed to claw its way back up to the $65,000 level....
Related News
A correction continues for Bitcoin during Friday, but it may not be over yet, and analysts are far from worried. Bitcoin (BTC) dipped below $64,000 on Nov. 12 as its comedown from new all-time highs continued to unnerve.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC: Consolidation becomes down moveData from Cointelegraph Markets Pro and TradingView captured fluid market conditions on Friday, with BTC/USD acting in a $2,000 range.The pair had spent the previous day tracing sideways — behavior that was now showing signs of breaking down.For popular analysts, however, such BTC....
While market sentiment may remain temporarily weak after the OKEx news, a price crash looks unlikely.
Bitcoin price is in for another dip to the ascending trend line support, offering an opportunity to buy on dips. Bitcoin Price Key Highlights. Bitcoin price made a strong rally after its bounce off the rising support, as indicated in an earlier article. The $740 area is holding as resistance, possibly spurring another potential correction to the ascending trend line support. Technical indicators are suggesting that the uptrend could continue but that profit-taking is due. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame so the path of least....
Analysts and mining pools say selling pressure from mining wallets hasn't contributed to recent corrections in bitcoin's price.
The price of bitcoin could increase to as much as $98,500, according to analysts at financial services and investment firm Wedbush Securities. A report from analysts Gil Luria and Aaron Turner, which has been referenced on StreetInsider.com, takes an extremely positive view of bitcoin, suggesting digital currency has the potential to shake up the current payments space. Titled Bitcoin: Intrinsic Value as Conduit for Disruptive Payment Network Technology, the report states: "Among other facets, we believe bitcoin and its associated technology represent a potentially game-changing disruption....