Category: Bitcoin

The spread of the deadly and highly contagious Coronavirus has kindled fear in the hearts of investors, as the global equities markets are now facing heightened recession risk as the death toll and potential economic impact of the virus grows at a rapid rate. The strength of the ongoing global selloff can be seen by the massive rallies incurred by safe haven assets like Gold and Bitcoin, which is emblematic of growing fears of an imminent recession amongst investors. It is important to note, however, that analysts do believe that…

Bitcoin is looking attractive against the Euro as the European Central Bank signals it will leave negative rates intact. The bitcoin-to-euro exchange rate on January 24 ducked a deep downside attempt after bouncing back from its local support of €7,4577.77. The latest move uphill took the pair up by 6.20 percent, indicating that bulls are still in charge of the bias in euro-denominated markets. The BTC/USD bidding rate is showing an interim recovery | Source: TradingView.com, Coinbase Bitcoin’s bounce against the Euro also followed its supersonic growth in the last…

Mass protests in Lebanon, which began as a demonstration over tax proposals, have since escalated into a full-blown financial crisis. As such, Bitcoin, and other decentralized cryptocurrencies, demonstrate, once again, the importance of financial sovereignty. Lebanese protestors. (Source: shutterstock.com) Lebanon Is In Crisis Lebanon has a history of conflict, such as the civil war which saw sectarian violence during the mid-seventies. And more recently, it has experienced instability as a result of the problems in Syria. Map of West Asia. (Source: google.com) But it was in October 2019, when the…

A historically accurate bitcoin price indicator has just flipped its market bias to bullish after four months. Dubbed as Guppy Multiple Moving Average, or Guppy, the technical indicator identifies changing trends and potential price breakouts by adjoining an asset’s long and short term moving averages. It has long served as a leading barometer for determining bitcoin’s next market sentiment. For instance, when Guppy first turned green in April 2019, the move prompted bitcoin to register a supersonic price rally wherein it swelled by 235 percent. Similarly, when Guppy switched back…

After a five percent increase overnight, the bitcoin price is vulnerable to a major correction. A prominent trader Peter Brandt warned that a fall below a key level may trigger a serious correction. Brandt named the 18 displaced moving average (DMA) as the important level bitcoin has to defend to prevent a large pullback. Currently, as of January 27, the 18 DMA is at $8,540 on BitMEX. What happens if bitcoin drops below $8,540 and resumes correction? If the bitcoin price drops below the 17 DMA at $8,540 and enters…

Bitcoin found a strong buying interest above $8,200, resulting in a fresh increase above $8,500. BTC price is currently above $8,600 and the bulls seem to be eyeing a break above $8,800 and $9,000. Bitcoin price is currently rising and showing positive signs above $8,500 against the US Dollar. The bulls seem to be in control above the $8,400 and $8,500 support levels. There was a break above a major bearish trend line with resistance near $8,360 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…

Bitcoin started a downside correction from the 2020 high at $9,191 against the US Dollar. However, BTC price is still in an uptrend and it could find buyers near $8,000 or $7,670. Bitcoin price started a short term downside correction below $9,000 and $8,800. It is currently trading above $8,200 and there are many important supports on downside. There is a declining channel or a bullish flag forming with resistance near $8,500 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair is likely to find…

Over the past week, Bitcoin (BTC) has started to show signs of weakness after a 40% uptrend in a month. Since establishing a $9,200 multi-month around seven days ago, the price of the leading digital asset has plummeted by 11% to $8,200, where it trades as of the time of writing this. Although the price drop has seemingly found a local bottom, with the selling pressure abating, an eerie fractal proposed by a top Bitcoin analyst says it’s only a matter of time before BTC falls dozens of percent from…

Bitcoin opened 2020 with a bang, rising by as much as 32 percent in January as investors’ appetite for safe-haven assets grew. However, the price rally is now looking to fizzle. The bitcoin-to-dollar exchange rate has dipped by circa 9 percent after registering a local top near $9,200. The pair on Friday tested $8,216 as intraday support, hinting risks of an extended downside move that could push the price into a medium-term bearish channel. The BTC/USD exchange rate eyes a crash towards $6,000 | Source: TradingView.com, Coinbase The Descending Channel,…

Since Bitcoin investors got a taste of parabolic price action in early-2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more. According to a Google Trends analysis, another parabolic rally is about to form again in the cryptocurrency market again. Considering historical rallies, this next bull market could bring BTC above $100,000, some analysts have suggested. Google Trends Suggests Bitcoin to Soon Explode Cryptocurrency analyst Cryptokea recently noted that the worldwide Google Trends, well, trends for the search term “Buy…