Tag: Key

Bitcoin retests key level that sparked 66% BTC price gains in 2021

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Bitcoin (BTC) fell into the Wall Street open on April 5 after briefly passing $47,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader shows importance of 200DMA for Bitcoin Data from Cointelegraph Markets Pro and TradingView showed BTC/USD encountering downward pressure as financial markets opened Tuesday. The pair was thus more or less at the same level as 24 hours previously, with the intervening period seeing volatility both up and down. Amid an overall lack of direction, traders and analysts were waited to see where the largest cryptocurrency would go next.…

Bitcoin Key Indicators Suggest Strengthening Case For Fresh Surge

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Bitcoin is slowly gaining pace above $46,500 against the US Dollar. BTC must clear $47,000 to move into a positive territory in the short term. Bitcoin is slowly moving higher above the $46,500 resistance zone. The price is trading above $46,200 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $46,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong increase if there is a clear move above the $47,000 resistance. Bitcoin…

New crypto owners nearly doubled in 3 key regions in 2021: Report

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The number of cryptocurrency owners has massively increased last year, with nearly half of all owners worldwide buying crypto for the first time in 2021, according to a new report. Gemini, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has polled about 30,000 respondents in 20 countries between November 2021 and February 2022 to provide a picture of a rapidly expanding crypto ecosystem. The company released the survey findings as part of its “2022 Global State of Crypto” report shared with Cointelegraph on Monday. According to Gemini’s findings, crypto…

Bitcoin Breaks Key Support, Why BTC Could Extend Losses

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Bitcoin failed to stay above the $46,000 support against the US Dollar. BTC is sliding and might even test the $43,200 support zone. Bitcoin is down over 4% and there was a move below the $46,000 support. The price is trading below $45,500 and the 100 hourly simple moving average. There was a break below a key breakout pattern with support near $46,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend decline and test the $43,200 support zone in the near term.…

Bitcoin just regained a key price trendline after its longest absence since March 2020

Bitcoin (BTC) may be consolidating at $47,000, but longer timeframes show just how significant this week’s mini bull run has been. According to the Golden Ratio Multiplier (GRM) metric, on March 27, BTC/USD reclaimed an essential support zone for securing further upside. Bitcoin exits trendline slump that beat March 2020 GRM is a long-term observational metric for Bitcoin price action. It is used to determine whether Bitcoin price growth (or the opposite) is overstretched relative to its overall maturity as an asset in terms of adoption. It does so using…

BTC, ETH Consolidate Below Key Resistance Levels – Market Updates Bitcoin News

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Following strong gains during Wednesday’s session, bitcoin and ethereum both saw prices consolidate below key resistance levels. BTC remained marginally above $47,300, with ETH trading close to $3,400. The global crypto market cap was 0.48% lower as of writing. Bitcoin Bitcoin saw its price consolidate during Wednesday’s session, following strong gains on Tuesday, which saw BTC rise to multi-month highs. However on Wednesday, BTC/USD fell to an intraday low of $46,746.21, as prices failed to sustain a breakout of the $48,080 ceiling. Today’s drop came as prices rose to a…

Bitcoin a ‘nice buy’ at $47K despite macro dangers as key trendline nears — Research

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Bitcoin (BTC) is attempting to reclaim a key long-term moving average, but the time to buy is before, not after, one metric hints. In a series of tweets on March 29, on-chain monitoring resource Ecoinometrics eyed a classic entry for BTC/USD as flagged by the Mayer Multiple. Mayer Multiple nears pivot Bitcoin price strength has endured as the week gets underway, the largest cryptocurrency putting in its highest levels of 2022 overnight. Some key moving averages have also fallen to bulls, and while the trend is not yet definitive, optimism…

New Central Bank Document Outlines Key Motivations for Issuing the Digital Currency – Emerging Markets Bitcoin News

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In a recently released document, the Bank of Ghana (BOG) outlines some of its key reasons for developing the central bank digital currency (CBDC). Also, in the document, the bank’s governor insists the institution is open to suggestions that will help it to successfully launch the digital currency. Benefits of a CBDC The Ghanaian central bank recently released a document that outlines the key motivations behind its plan to issue a central bank digital currency (CBDC). The document also touches on the digital currency’s design as well as the benefits…

US Congress agency recommends 4 key policy options for blockchain

Per the request of the United States Congress, the U.S. Government Accountability Office (GAO), laid out four policy options to help policymakers implement blockchain technologies while enhancing benefits and mitigating challenges. The technology assessment shared by the GAO acknowledged the potential of blockchain technology in improving a variety of financial and non-financial applications despite raising concerns about introducing new challenges while trying to resolve issues related to traditional systems: “A blockchain might both increase the speed of a title registry system and lower the cost of title insurance by making title…