Why Is The Bitcoin Price Down Today?
The Bitcoin price is in a decline once more, after seeing some recovery on Wednesday due to the turnaround in the Spot Bitcoin ETFs net flows. However, just one day later, it seems the pioneer cryptocurrency has resumed the downtrend and this decline after the recovery has begun a worrying trend. So, what are the factors that are driving this decline? Bitcoin Price Suffers From Sell-Offs One of the major factors that have been behind the Bitcoin decline is the major sell-offs that have rocked the digital asset. These sell-offs are not just from any investor, but rather large BTC sells....
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It's almost refreshing to take a look at the bitcoin price charts today and see something we haven't seen a whole lot of lately: a price climb. If you're following along at home, you probably noticed today that the price of bitcoin has surpassed $400 today. In fact, it's gone us quite a bit higher than that. Taking a look at the Bitstamp chart (USD), we can see that the current price of bitcoin is about $414, up over 7 percent in the past twenty-four hours alone. If we take a look at the three-day view, we're up 13 percent. Over 24 percent in the past week alone. Not terribly bad.....
The XRP price is down today after seeing an encouraging start to the week. This decline has now seen the altcoin wipe out the vast majority of its gains from Ripple’s triumph over the United States Securities and Exchange Commission (SEC) back in July. So the question now is, what is driving the XRP price […]
Bitcoin price declined a bit today and the long awaited bullish wave was further delayed. The $220 level was tested today and continued to prove that it is currently supporting the price well. By observing the 1 hour Bitfinex (BTC/USD) charts from tradingview.com (look at the below chart), we can notice that the price dropped today from around $224 to $216, before rising up again to $220. As the price approached the $220 level, support has been prominent as proven by the candlesticks' long shadows near the $220 territory (look at the 3 candles inside the blue cloud on the below chart).....
Bitcoin price dropped today to a low of $228.45. It seems that the buying power of the market didn't succeed in maintaining the price above the $256 support level for a long time. By looking at the 1 hour Bitfinex (BTC/USD) chart from tradingview.com and plotting the 20 day EMA on top of the chart, we can see how bitcoin price exhibited a rather steep drop from $268.34 to around $228.45 today. The bearish wave seems to be gaining strength as shown by the 7 successive red bearish candlesticks on the 1 hour chart. Also, the price has been trading below the 20 day EMA during most of today's....
Dogecoin price yesterday traded between 58 and 60 satoshis on Hitbtc, yet earlier today the price dropped down to 51.6 satoshis before rising up again to 60 satoshis at the time of writing of this article. On the other hand, Dogecoin price traded between 58 and 60 satoshis on Cryptsy throughout yesterday's trading sessions. By studying the 1 day Hitbtc (DOGE/BTC) chart from tradingview.com, calculating the 20 day EMA, plotting the MACD indicator and executing the RSI (look at the below chart), we can notice the following: Even though the price dropped down to around 51 satoshis earlier....