Bitcoin plunged by 18.79 percent after closing above $10,000 late Friday. The cryptocurrency found a short-term support area above $8,000, prompting traders to predict a $10,000-top retest. But a conflicting technical indicator sees bitcoin continuing its bearish correction. The “Bitcoin Halving” euphoria helped the cryptocurrency rise from its mid-March low of $3,858 to as high…
DetailsXRP, the native cryptocurrency to the Ripple protocol, has struggled throughout the bear market. The number three crypto by market cap has lagged behind most other altcoins in recovering from the most extreme lows. That all soon could change, after last night’s weekly close may have confirmed downtrend resistance as support. It also may confirm…
DetailsBitcoin’s block reward halving may be just hours away, two hours away by most estimates, but that hasn’t stopped the price from dumping. The cryptocurrency just slid as low as $8,380 just minutes ago, visiting the levels it was trading at just 24 hours ago. This came after Bitcoin rallied as high as $9,200 on…
DetailsTomorrow’s halving helped Bitcoin price make another strong push to $10,000, but the first-ever cryptocurrency failed to breach the key level. However, according to the structure of a massive rising wedge, there may be yet another wave up to nearly $11,000 before a correction and pullback ensue. Started From the Bottom: Bitcoin Forms Rising Wedge…
DetailsSince our last market update, Bitcoin has continued to plunge lower. The leading cryptocurrency just minutes ago tapped $8,180 for the third time in the past two days. BTC has since bounced off that level, indicating that this level is of some importance, rallying back to $8,450 as of the time of this article’s writing.…
DetailsOver the last month, Bitcoin dominance has grown by nearly 3%. The climb has largely been driven by the asset’s block reward halving set for less than 24 hours from now. The latest move in BTC dominance has left altcoins on the ropes, and exposing them to a bounce or die scenario. The apex of…
DetailsAfter falling as low as $8,100 just an hour or two out from the halving, Bitcoin has shot back towards the daily highs. In the 30 minutes since the block reward halving came to pass, the cryptocurrency surged from $8,400 to a high of $8,825 — a bout of growth that amounts to 5%. Bitcoin…
DetailsWith the halving just a few hours away, investors and “hodlers” alike are growing overwhelmingly bullish about what the future holds for Bitcoin. Venture capitalist Tim Draper, for instance, argues that the supply shock could see the flagship cryptocurrency surge towards $250,000. Meanwhile, former hedge fund manager Raoul Pal believes that BTC may skyrocket to…
DetailsThe Bitcoin price rallied enormously in the weeks leading to its third mining reward halving on May 12, 2020. Many analysts believe the cryptocurrency would undergo a deep price pullback after the event, citing historical patterns. But the fractal ignores one crucial factor that led the bitcoin price lower after the second halving. Bitcoin will…
DetailsA brutal capitulation post halving could send the bitcoin price down by more than 30 percent, according to a top executive. Capriole Investments founder Charles Edwards fears that the cryptocurrency’s operational costs would be 70 percent higher than its current price after May 12, 2020. He expects traders to run out of reasons to purchase…
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