Here’s the Reason Why Bitcoin’s Price is Stable Despite Macro Turbulence
Bitcoin’s price has been incredibly stable throughout the past couple of weeks Even bearish news developments that would have – in years past – catalyzed far-reaching selloffs have done little to shake its present strength Analysts are now widely noting that the traditional markets will be a guiding force for BTC going forward Which direction they begin trending mid-term will likely influence the benchmark crypto One on-chain analyst is now putting forth an interesting observation […]
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Bitcoin has been caught within the throes of a macro uptrend since March, despite the cryptocurrency facing immense selling pressure over the past month that has led it down from highs of $12,400. As of late, the crypto has been witnessing multiple ongoing events that have created some turbulence, although bulls have been stopping it […]
Ethereum has been closely tracking Bitcoin’s price action throughout the past couple of days This has caused it to see a notable selloff, with bulls and bears now reaching an impasse as it trades just above its crucial $380 support level A continued defense of this level is key if bulls want to fuel a move higher in the near-term One analyst is now noting that the cryptocurrency’s macro outlook is ultra-bullish despite the recent […]
Bitcoin has been trading in close tandem with equities throughout the past several days Heightened correlation to risk-on assets is a common BTC trait during times of immense global turbulence Although this strikes a blow to its safe-haven narrative, the cryptocurrency still has a long way to go before it fully decouples with the traditional markets This global economic turbulence that is weighing on Bitcoin may only get worse as the year drags on and […]
Many analysts and investors have been quite surprised at how stable Bitcoin’s price has been despite a plethora of bear-favoring developments within the markets From a macro perspective, President Trump’s recent viral diagnosis has rocked the traditional markets, which has had a trickle-down effect on crypto Within the crypto market, the recent $150m KuCoin hack, as well as the government’s charges against the BitMEX founders, have both spooked investors Despite all these factors placing pressure […]
Yesterday, Bitcoin’s price was around $442 and $447 and could not overcome the level of $450. On Monday, January 11, 2016 the crisis in the global stock markets continued, and trading ended with a negative value. The main reason for the crisis is still China, whose stock market fell by 4%. Considering this, Bitcoin has every reason to rise to $465. However, buyers and sellers have been slow and cautious. The movement of prices below $440 could cause a turn and descent of Bitcoin’s price to the nearest psychological level of $430. In turn, this reduction could lead Bitcoin to test the....