Bitcoin Price Boom Signals Massive Dystopian Panic Over 2019 Recession

By CCN: The sudden swell of Bitcoin’s price to $8,000 USD this year shows global recession fears are mounting. This according to Michael Hartnett, the chief investment strategist at Bank of America Merrill Lynch. Bitcoin price has doubled in 2019 but the rally is only getting started. | Source: Shutterstock Interestingly enough, Hartnett says global investors are investing in bitcoin not because they see it as a safe haven asset in times of instability but because they are seeking high-risk, high-reward investments. He argues the effect of low-interest rates since…

Bitcoin Price Retests $8,000 Following 21.37% Drop

Bitcoin has made a come back following three days of depressive price movements that led to a 21.37 percent drop. The world’s leading cryptocurrency started Sunday while trending in positive territory. The asset’s rate against the US dollar surged by circa 11 percent to settle a session high at $8,041 on Coinbase exchange. The move brought approximately $12 billion to the bitcoin market, with maximum influx coming from Tether’s stablecoin USDT. Nonetheless, the uptrend slowed down ahead of the European session, hinting that a downside correction might still be underway.…

Here’s What Triggered Bitcoin Price Above $8,000

By CCN: The bitcoin price has surged by seven percent in the past several hours from $7,300 to around $8,000 in major markets including the U.S., demonstrating a strong recovery from its abrupt drop to $6,400. The bitcoin price surges seven percent in less than four hours (source: coinmarketcap.com) On May 17, as CCN reported, the bitcoin price briefly plunged to $6,400 by more than 18 percent against the U.S. dollar. Market eating up an 18% bitcoin drop quickly is a sign of positive sentiment Analysts including Dovey Wan, a…

Here’s What Triggered Bitcoin Price Above $8,000

By CCN: The bitcoin price has surged by seven percent in the past several hours from $7,300 to around $8,000 in major markets including the U.S., demonstrating a strong recovery from its abrupt drop to $6,400. The bitcoin price surges seven percent in less than four hours (source: coinmarketcap.com) On May 17, as CCN reported, the bitcoin price briefly plunged to $6,400 by more than 18 percent against the U.S. dollar. Market eating up an 18% bitcoin drop quickly is a sign of positive sentiment Analysts including Dovey Wan, a…

Bitcoin (BTC) Price Weekly Prediction: Indicators Suggest Rally To $9,000

There was a strong buying interest for bitcoin near the $6,800 support area against the US Dollar. The price started a fresh increase and broke the $7,000 and $7,500 resistance levels. There was a break above a major contracting triangle with resistance near $7,300 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is eyeing a strong rise and it could trade above $8,500 and $8,800 in the near term. Bitcoin price is up more than 10% after a strong downside correction against the US…

Ethereum (ETH) Price Surging: Bulls Eyeing Fresh 2019 High

ETH price started a fresh increase after a sharp downside correction towards $225 against the US Dollar. The price is currently gaining traction and it broke the $240 and $245 resistance levels. There is a crucial bullish trend line in place with support near $236 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is surging higher and it seems like there could be more gains towards the $275 and $285 levels. Ethereum price is once again gaining bullish momentum versus the US Dollar, similar to bitcoin.…

Bitcoin (BTC) Price Near Inflection Point: Fresh Increase Likely

Bitcoin price declined heavily yesterday and traded close to the $6,650 support against the US Dollar. The price traded as low as $6,645 and it is currently recovering towards the $7,400 level. There is a key bearish trend line forming with resistance at $7,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair needs to clear the $7,400 and $7,512 resistance levels to start a strong upward move. Bitcoin price seems to be forming a new support base above $7,000 against the US Dollar. BTC…

Crypto Bulls and Bears Wrestle on What Comes Next for the Bitcoin Price

By CCN: Many in the crypto community remained calm and banded together despite the steep drop in the bitcoin price on the heels of an otherwise incredibly bullish month. Bitcoin’s value was slashed by approximately $21 billion in the last 24 hours, with the BTC price currently holding above the $7,000 threshold. The declines were traced back to a mega sell order on Bitstamp exchange, either creating an opportunity for investors who missed the previous run or providing a warning before the other shoe drops. Of course, crypto bulls and…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 17

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. Bitcoin witnessed a flash crash on Bitstamp exchange when it plunged to a low of $6,178. The fall was triggered by a sell order of about 5,000 bitcoins at $6,200. Some people speculate that the order might have been mistyped $6,200 instead of $8,200.…

Bitcoin Dump on BitStamp Exchange Likely Caused Price Slump

The cryptocurrency market witnessed a bitcoin price slump in the early hours of May 17, 2019. Speculations, however, point to a 5,100 BTC dump that occurred on the Bitstamp exchange as the likely reason for the price plunge. Profit Scraping or Market Manipulation? A huge dump on the Bitstamp exchange saw the price of bitcoin tank by more than 20 percent which immediately saw the BTC price fall on other exchanges to hit a bottom of $7,100 across the board. The BTC price plunge caused altcoins to plummet as well,…