How Bitcoin’s (BTC) Current Price Around $6,000 is Reminiscent of 2018

In brief: Bitcoin has so far defied the Death Cross which is evident on the daily chart.  The King of Crypto is currently trading at $6,350, reclaiming the important $6,000 support zone. However, the current price movement is reminiscent of 2018 and could fall further as all markets are affected by the Coronavirus.  With the new month of April only a few hours away, there is a lot of optimism with respect to the direction of the crypto markets. Generally, when CME Bitcoin futures contracts expire like they did last…

Bitcoin, Ether, and XRP Weekly Market Update March 30, 2020

The total crypto market cap added $7 billion to its value for the last seven days and now stands at $174 billion. The top 10 currencies were all in green for the same time frame with XRP and Litecoin (LTC) being the best performing assets with 13.3 and 7.9 percent of gains respectively. By the time of writing bitcoin (BTC) is trading at $6,300 while ether (ETH) climbed to $130. Ripple’s XRP moved up to $0.173. BTC/USD Bitcoin suffered a drop to $5,812 on Sunday, March 22 after it was…

Bitcoin Recovering After a Sharp Decline: Here’s Why Bulls Could Fail

Bitcoin declined sharply below the $6,200 support against the US Dollar. BTC price found support near $5,850 and it is currently recovering towards a couple of key hurdles. Bitcoin is correcting higher from the $5,846 swing low against the US Dollar. The price is showing positive signs above the $6,000 level, but there are many hurdles on the upside. There was a break above a key declining channel with resistance near $6,080 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to face…

Market Update: Uncertainty Remains Thick as Bears Claw Bitcoin Price Below $6K

Bitcoin’s price has been dragging downward and on March 29, BTC’s fiat value slipped beneath the $6K zone. Most of the top ten cryptocurrencies are down between 5-8% in the last 24 hours. As the global economy falters and the halving approaches, people are uncertain about the future price of bitcoin as “safe-haven” theories have been steadily vanishing. Also read: In-Between Bitcoin Halvings: Analyst Proves Bitcoin’s Price Not Bound to 4-Year Cycles Top Ten Cryptos See Some Percentage Losses During Sunday’s Trading Sessions The price of bitcoin affects the entire…

Latest Bitcoin.com Wallet Release Features Live Charts and Price Tracking

While You’re Under Quarantine, Check These Sites for Remote Crypto Jobs If you are on the lookout for a job in these pressing times, when the coronavirus pandemic has limited public movement and shut down businesses, it’s worth exploring opportunities to work from the relative safety of your home. The number … read more. How to Buy Weed With Bitcoin So you’ve got a little bitcoin to your name but are all out of weed. What you gonna do? Well, if you’re fortunate enough to live in a region where…

Why Bitcoin’s Tumble Under $6,000 Could Be the Start of Something Worse

Bitcoin hasn’t done too well over the past few hours. As reported by this outlet previously, the cryptocurrency just tumbled under $6,000 just hours ago, falling under this key psychological level for the first time in a week. Related Reading: Crypto Tidbits: Bitcoin Holds $6,000s, Federal Reserve To Do “QE Infinity,” U.S. Digital Dollar Proposed The cryptocurrency seems poised to close its ongoing daily and weekly candles under this level, which would mark a slight blow to bulls. Indeed, many traders expect the asset to continue to trend lower over…

In-Between Bitcoin Halvings: Analyst Proves Bitcoin’s Price Not Bound to 4-Year Cycles

Crypto traders and analysts have always looked to the halvings for some kind of clues in order to predict the future price of bitcoin. A number of traders also think that BTC price movements shift every four years and speculators often use the halvings as milestone markers. On March 28, crypto Youtube host and digital currency analyst Benjamin Cowen explained bitcoin’s price doesn’t move in four-year cycles and stressed that the asset is still following the lengthy market phase of accumulation. Also read: ‘Bull Run May Not Come Immediately After…

Bitcoin (BTC) Continues to Be Positively Correlated with Equity Markets, Research Says

According to a report published by The Block, on March 28, 2020, premier cryptocurrency Bitcoin (BTC) continues to struggle to establish its “safe-haven” status amid the ongoing financial crisis courtesy of the devastating COVID-19 pandemic. Bitcoin “Safe-Haven” Status a Distant Dream? Launched in a bid to not allow an encore of the 2008 financial crisis like situation, Bitcoin, for long, has been touted as the “safe-haven” for investment in times of peril, much akin to gold. The first and the largest cryptocurrency in terms of market cap, Satoshi Nakamoto’s Bitcoin…

Tether’s Dominance Solidified as more Exchanges Launch Bitcoin USDT Futures Contracts

In brief: In the last week, two prominent crypto exchanges have launched Bitcoin USDT perpetual contracts. They include Bybit and KuMex (KuCoin’s derivatives platform.) Tether (USDT) is ranked 4th according to market cap.  Its website states the company has $6.229 Billion in assets.  Trading of Bitcoin futures contracts has become more popular as crypto traders seek volume and volatility that has now escaped the majority of altcoins. In a previous analysis, we saw how Binance had overtaken Bitmex in terms of 24-hour trade volume of Bitcoin futures contracts. This indicates…

Bitcoin’s (BTC) Support at $6,000 Threatened by a Death Cross on the Daily Chart

In brief: Bitcoin (BTC) has had an eventful weekend as it dropped from $6,700 to $6,000. The King of Crypto has tested the $6,000 support zone a few times.  This area of support is crucial as a death cross is forming on the daily chart.  At the time of writing this, all global citizens are taking precautions to safeguard their health and wealth from the devastating effects of COVID19. When we look at our favorite cryptocurrency of Bitcoin, it too is having a hard time maintaining the $6,000 zone of…