Bitcoin plummeted several hundred dollars past its 0.786 Fibonacci level to $7,400 on false rumors of Chinese authorities raiding Binance’s Shanghai office. Bitcoin (BTC) finally dropped all the way down to the $7.4Ks in minutes as anticipated in our previous analysis if the key $7.8K level did not hold. Cryptocurrency market daily performance. Source: Coin360 […]
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Research from crypto analytics firm Longhash claims to have debunked the recent single-whale theory of the 2017 Bitcoin bull run. Blockchain education platform Longhash has released research that it claims debunks the recent single-whale theory of the 2017 Bitcoin (BTC) bull run. On Nov. 18, researchers at crypto analytics firm Longhash announced that they have […]
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The latest dip below $9,000 has traders turning bearish once again, but a closer look at some key on-chain metrics paints a bullish picture for BTC price. Bitcoin price (BTC) has taken a bearish course, leading some analysts to call for a drop to $8,300 and a few even suggest $7,100 is where the digital […]
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While the latest drop in Bitcoin price below $9,000 should not be a cause for concern when zoomed out, certain key levels must hold to renew bullish sentiment. On Nov. 8, Bitcoin corrected from $9,200 to $8,650, causing the market sentiment to shift from greed to fear once more. The correction came after one of […]
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Bitcoin mining has become a multibillion-dollar industry — but with 85% of Bitcoin extracted, is it still profitable? Back in the early days, when Bitcoin (BTC) was but a niche experiment for cypherpunks and basement-dwelling hobbyists, the process of its creation required little more than a budget CPU. Since that time, however, an entire industry […]
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The controversial third-largest cryptocurrency XRP decisively rejected support at $0.30 to continue trading near all-time lows. Ripple’s annual Swell conference has failed to induce positive price action for associated token XRP, data following the event shows. Price data from Coin360 covering XRP/USD showed selling pressure take over on Nov. 7, as the two-day conference continues. […]
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From Cointelegraph Japan: This week’s selected cryptocurrency and blockchain news from Japan. In this week’s selected cryptocurrency- and blockchain-related news from Cointelegraph Japan, the Japanese Liberal Democratic League said that it will formulate a quantum technology innovation strategy by the end of this year, crypto exchange Coincheck’s registered users are steadily increasing, Mt. Gox trustee […]
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After last week’s volatility, traders could be anticipating that the crypto market will consolidate the gains before starting next move up. The seesaw price action over the past week has lightened up the crypto space once again. While the aggressive bulls view the sharp upside move as a bottoming signal, the bears consider the rise […]
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Updated Bitcoin stock-to-flow model with deviation bands shows a few interesting patterns surrounding previous BTC halvings. Since Bitcoin’s (BTC) creation in 2009, the digital asset has undergone a halving event every four years, cutting the number of coins constantly entering the ecosystem in half, making it a deflationary asset. Based on its hard-coded scarcity, and […]
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The reversal in the price of Bitcoin and other cryptocurrencies in the past week points to a likely bottom formation and a change in sentiment to buy the dips. Though fundamentals play a large part in determining the price of an asset, short-term movements of the markets are driven by sentiment. This was clearly visible […]
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