Bitcoin has undergone a drop since peaking at $14,100 on Saturday. On Monday morning, the leading cryptocurrency fell as low as $13,200, marking a 6.5% drop from the highs. Bitcoin has since bounced to $13,700 as of this article’s writing. While the cryptocurrency remains below the $14,000 technical resistance, analysts remain optimistic about the digital asset. One crypto-asset analyst recently noted that the CME futures’ Bitcoin market is currently printing a bullish chart pattern. Should this pattern play out as it does in textbooks, the asset should move higher in…
Day: November 2, 2020
Bitcoin Bounces $500 After 7% Correction: What’s Next for BTC?
On Monday morning, Bitcoin plunged lower despite a rally in the price of equities. The price of the leading cryptocurrency currently is $13,700, around $500 above the daily lows at approximately $13,200. Analysts are divided over what comes next for Bitcoin in the short term. Some think that the cryptocurrency is likely to continue its consolidation as there are some uncertainties in global markets that could drive further downward Bitcoin pressure. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Bounces After Strong Correction After bottoming…
Ethereum Expected to Gain Further Strength as Price Taps $400
Ethereum has finally begun to push higher as Bitcoin has consolidated in the high-$13,000s. The price of the leading altcoin recently hit $400, the highest price in a number of days despite BTC pushing to new year-to-date highs. Ethereum currently trades slightly below $400 having undergone a slight retracement after tapping that pivotal technical level. In the past 24 hours, ETH is up 3%, making it one of the best performing digital assets in the top 20 by market capitalization. Analysts think that the cryptocurrency could move even higher in…