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…

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…

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…

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…

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’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…

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…

Bitcoins on the Move — Is BTC Price Inversely Correlated to Mempool Size?

After making a strong recovery from $3,775 to $6,450, Bitcoin’s (BTC) price has traded in a tight range which has seen the price struggle to push above resistance at $6,400 and $6,850. Despite the current pullback, technical indicators like the Stock-to-Flow model and the network’s consistent growth in hash rate show that investors have regained a small amount of confidence. Another factor worth considering is Bitcoin’s mempool size as it also can provide some insight into how buyers and sellers are reacting during these uncertain times. Cryptocurrency market weekly overview.…

‘This Will and Needs to Be Bitcoin’s Year’ Says Mike Novogratz

With vast swaths of the world markets in virtual lockdown amid the coronavirus pandemic, some predict that the shocks rippling through the global economy in early 2020 may yet come to dwarf the magnitude of the 2008 financial crash. Just as Bitcoin (BTC)’s creation is bound up with 2008 and the Great Recession, Galaxy Digital founder Mike Novogratz sees this year as make-or-break for the cryptocurrency. In a tweet posted on March 22 — just hours after the United States Congress failed to reach a bipartisan agreement on a proposed…