Despite Bitcoin bouncing at $9,000, analysts remain bearish on the leading cryptocurrency as the asset fails to recover crucial support levels. Related Reading: Last Time Bitcoin Saw This Structure, It Surged 40%. It’s About to Happen Again Bitcoin Prints Series of Bearish Signs Suggesting An Imminent Correction An analyst recently remarked that if Bitcoin doesn’t bounce…
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The past few days have seen Bitcoin stagnate into a tight range between $9,300 and $9,500. This is part of a wider two-month consolidation that has seen BTC’s price action tighten under the crucial $10,000 resistance. The cryptocurrency market has been so “boring” that as NewsBTC reported previously, volatility is heading towards lows not seen…
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Ethereum’s price action in recent times has been lackluster to say the least, as it has been closely tracking that of Bitcoin as it trades within a wide and long-held range. It does not appear that this is emblematic of the cryptocurrency’s long-term outlook, however, as one prominent venture capitalist is now noting that he…
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In the wake of the Bitcoin halving, the hash rate of the network dropped dramatically. Due to an effective 50% decrease in profitability, around 30% of the machines mining BTC went offline from peak to the bottom of the trough, slowing transactions down and causing an increase in transaction fees. But as blockchain data firm…
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Bitcoin’s consolidation phase seen throughout the past several weeks muddied the confidence that many investors previously had regarding the strength of its uptrend. Although the crypto’s 150% surge from its March lows has been incredibly impressive, this momentum halted as soon as it reached the five-figure price region. It has now posted two rejections at…
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Bitcoin price has been trading sideways for nearly 50 days at the height of its Black Thursday recovery rally. Volatility has dropped to some of the lowest levels ever in the emerging asset class as a result. However, an unusual event is about to take place that in the past has been associated with some…
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For the umpteenth time this month, Bitcoin failed to hold above the $10,000 resistance on June 10th. Prominent investors in the cryptocurrency space, however, remain bullish on BTC due to a confluence of macroeconomic factors. They say that in 2020, there’s a high likelihood Bitcoin revisits its all-time high price of $20,000. A rally to…
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Ethereum declined heavily after multiple rejections near $250 against the US Dollar. ETH price is now recovering, but it must settle above $240 to start a fresh increase. ETH price is currently correcting higher from the $225 swing low against the US Dollar. It is now trading above the $230 level and the 100 simple…
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Bitcoin started a major decline after it was rejected near the $10,000 resistance against the US Dollar. BTC is currently recovering, but it is likely to face sellers near the 100 SMA (H4). Bitcoin traded as low as $9,084 and it is currently correcting higher. The price is likely to face sellers near the $9,600…
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Earlier this week, Bitcoin sustained a heavy drop. The cryptocurrency, just 24 hours after attempting a $10,000 break, plunged nearly $1,000 in the span of 12 hours. The move brought the cryptocurrency from around $10,030 to $9,050. Analysts are divided over what technical damage the drop caused. Some say that it is to be expected,…
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