This Bitcoin Chart Destroys the Argument That BTC Can’t Be Money

By CCN Markets: Every skeptic says the same thing: the bitcoin price is too volatile to be a real currency.  And they’ve got a point. Bitcoin’s huge swings make it risky as an investment and difficult as a day-to-day payment method. But it’s slowly changing. As more money flows into bitcoin, it’s becoming less volatile. And that means it’s becoming better money. Extreme daily bitcoin price movements are much rarer than in the past. | Source: Fernando Nieto As you can see, the graph shows extreme daily price movements are…

Italy’s Terrifying Currency Scheme is Insanely Bullish for Bitcoin

By CCN Markets: The Italian government is mulling the decision to issue a “parallel currency” in a move that could plunge the eurozone into crisis – and provide the best case yet for mass bitcoin adoption. In the same week, the Italian deputy prime minister proposed a tax grab on cash and valuables stored in safety deposit boxes. These crisis policies expose deep cracks in the fiat monetary system. The move prompted money historian Rebecca L. Spang to call for a new foundation of money. “The time has come for…

Bitcoin (BTC) Halving In An Electioneering Year, Is LTC Pacesetting?

Bitcoin (BTC) adds 6.1 percent Ahead of next year’s halving, BTC is likely to inch higher Tone Vays, a Bitcoin supporter and a former Financial Analyst at JP Morgan, is edgy of the current uptrend. BTC is ranging, and prices aren’t steady above $8,000. That’s what’s visible in the daily chart. Therefore, unless otherwise there is a break above $8,500 and later $9,100, BTC may topple below $7,500. Bitcoin Price Analysis Fundamentals Thus far, it has been a perfect start for cryptocurrency investors. Recording double-digit gains over the last two…

Bitcoin Price Rangebound But a Upside Move is On Its Way: Analysts

Bitcoin (BTC) has not experienced any substantial market movement since June 4. The world’s leading cryptocurrency has been fluctuating between $7,440 and $8,100 from the last seven days. The move has established a strict $600-wide sideways pattern, which is offering day traders plenty of opportunities to enter and exit the market on smaller profits. The bulls so far have failed to secure a breach above $8,100, now a crucial resistance level of the sideways channel. At the same time, the bears have struggled to execute a similar action below $7,440.…

Facebook’s Global Coin Is A Threat to Bitcoin Cash, BCH Down 3.7%

BCH down 3.7 percent Facebook’s Global coin will disrupt public chains like Bitcoin cash Because of Facebook’s broad base and active users exceeding 2 billion, the Global coin is an existential threat to Bitcoin Cash. Currently, BCH is consolidating against the USD, down 3.7 percent. Bitcoin Cash Price Analysis Fundamentals Perhaps, for the neutral, Bitcoin Cash is indeed what Bitcoin failed to be. That is Cash. According to Bitcoin’s whitepaper, the peer-to-peer cash system was, first of all, supposed to be a medium of exchange. However, grappled with scalability concerns…

Bitcoin (BTC) Price Recovers Sharply: Is This A Real Bullish Move?

Bitcoin price started a fresh upward move after trading as low as $7,519 against the US Dollar. The price gained pace above the $7,700 resistance and even traded above $7,800. Yesterday’s highlighted key bearish trend line was breached with resistance near $7,780 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is showing positive signs above the $7,800 support and the 100 hourly simple moving average. Bitcoin price started a strong rebound above $7,700 and $7,800 against the US Dollar. However, BTC must gain pace…

Despite Warnings of Analyst For Fall to $6,100, Bitcoin Surges Above $8k

The bitcoin price has dropped by as much as 18 percent from its 2019 high of $9,090. And it could lose more value in the coming 20 days, according to an analysis provided by a cryptocurrency analyst. Mr. Teddy Cleps of Crypto Freak Network said on Monday that the bitcoin price historically contacted its 21-weekly exponential moving average (EMA) in every 70-to-90 days. On the 70th day since the last contact, bitcoin was trending almost a thousand dollar above the EMA in concern, which means the cryptocurrency has approximately 20…

Bitcoin Upsets Bearish Investors, Massive Head and Shoulders Still in Play

In the early hours of the morning, Bitcoin exploded upward to $8,000 from a double-bottom local low set over the weekend around $7,500. The rally upset overly bearish crypto investors and traders who had been expecting further downside in the price of the first ever cryptocurrency. The brief, yet powerful green candle may have shocked bears, an ominous and massive head and shoulders has been forming on the price charts of Bitcoin and other leading crypto assets, suggesting that the bears may soon have their party, and the crypto market…

Bitcoin Price Sinks to $7,500 as Analyst Predicts Further 30% Plunge

By CCN Markets: In the past 24 hours, the bitcoin price has dropped from $7,900 to around $7,500 by more than five percent against the U.S. dollar in a minor pullback in the crypto market. The bitcoin price has dropped by around five percent in the past 24 hours (source: coinmarketcap.com) Within the last seven days, the bitcoin price has fallen by over ten percent, which has led technical analysts in the crypto market to ponder about the possibility of an extended pullback despite the market’s positive macro landscape. 30%…

Bitcoin (BTC) Price Turns Bearish: Bulls Could Face Resistance Near $7,800

Bitcoin price remained in a bearish zone and recently declined below $7,600 against the US Dollar. The price retested the $7,500 support area and it is currently consolidating losses. There is a key bearish trend line forming with resistance near $7,820 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct higher, but the bulls are likely to face resistance near $7,800 and $7,900. Bitcoin price declined recently below key support levels against the US Dollar. BTC is facing an uphill task and it…