Bitcoin at $6000 Could Prove Pivotal for Institutional Investors

As the crypto markets make a slight recovery following their plummet earlier in the week, all eyes turn to the continued price gains of Bitcoin. Since the start of the year, BItcoin has posted more than 50 percent in gains, with the $6000 price mark becoming the next significant hurdle for the currency. Average investors may consider the psychological value of BTC at $6000, but institutional investors and their behavior will be the true indicators of market direction moving forward in 2019. Tom Lee, Fundstrat cryptocurrency analyst and regular Bitcoin…

Bitmain Eyes 2020 Bitcoin Block Halving as Pivotal Moment for Mining Fortunes

Embattled cryptocurrency mining giant Bitmain has allegedly hinted the release of its new mining hardware could hinge on the 2020 Bitcoin (BTC) block reward halving. The news was reported by English-language Asia news outlet South China Morning Post (SCMP) on March 27. Bitmain, which has seen a testing six months as market volatility triggered redundancies and a failed public flotation, reportedly said next year’s event could reverse its fortunes. SCMP cited a “a company source with knowledge of the plan.” Block reward halvings reduce the amount of BTC awarded to…

Today’s Close Could be Pivotal for Bitcoin’s Price

Bitcoin’s (BTC) close today will likely decide the short-term trend in prices. The leading cryptocurrency snapped a three-day losing streak on Thursday as the 26 percent sell-off witnessed in the last three weeks was looking overstretched. What’s more important is that BTC traded yesterday within the high and low range of the previous day, indicating the bears have likely run out of steam and the bulls are still reluctant to enter the market at these levels. It seems safe to say that the bitcoin market has become indecisive in the…

Bitcoin Faces Pivotal Support as Bulls Exhaust …

After seeing a rally to the $11,000s, bitcoin has managed to pull back to the $9,000 range and has left many bullish investors confused. The initial bullish rally seemed promising as it broke the macro, descending channel that governed much of the market over the last two months: Figure 1: BTC-USD, 6-Hour Candles, Descending Channel The breakout of the descending channel (red dotted channel) gave hope to many bullish investors as it seemingly signaled the end of the downtrend and perhaps the beginning of a sustained bullish reversal. The volume…