Bitcoin’s recent mining rewards halving event didn’t have any sudden impacts on the cryptocurrency’s hash rate, but the impacts of it on miner dynamics are now growing increasingly clear. The benchmark cryptocurrency’s hash rate has been sliding lower throughout the past couple of weeks, signaling that miners are beginning to capitulate. History suggests that hash…
DetailsJust nine weeks ago, the crypto market fell off the face of a cliff. Within 24 hours, from the peak to trough, the price of Bitcoin fell by more than 50% from ~$7,600 to $3,700. It was a move caused by a global liquidation event in all markets, triggered by a run for cash to…
DetailsAfter rallying 5% from the weekly lows, the Bitcoin bull trend has petered out once again. This weakness culminated in a drop below $9,000 just minutes ago, marking the lowest price BTC has traded at in approximately three days. Bitcoin price chart from TradingView.com While the price action has been weak, few bulls have been…
DetailsBitcoin has seen a sharp overnight selloff that led its price to decline to lows of $8,800 today, with the support here once again helping the cryptocurrency begin climbing higher. This turbulence has come about close on the heels of a multi-day bout of consolidation within the lower-$9,000 region, and the break below the lower…
DetailsEthereum has continued trading above $200 despite facing a massive influx of selling pressure earlier this morning that jeopardized its position above this key support level. It now appears that ETH is gearing up for a massive movement in the days and weeks ahead as it continues trading within a multi-week range. Analysts are noting…
DetailsPrior to the ongoing recession, there were skeptics saying that Bitcoin would perform poorly in one. When the stock market crashed at the end of 2018 due to the Federal Reserve announcing it put its balance sheet on “autopilot,” so did BTC, tumbling from the $6,000s to $3,150. Hence, when the recession began earlier this…
DetailsIt’s been a rocky past few days for Bitcoin, Ethereum, and other top cryptocurrencies. From the monthly highs against the dollar, most digital assets are down 10%. But when measuring the performance of some cryptocurrencies against Bitcoin, some investments are outperforming. Ethereum is a perfect case in point, which has rallied 10% against BTC over…
DetailsLast year, one of the biggest narratives in the Bitcoin market was that tensions between China and the U.S. — which culminated in a massive trade war — was pushing cryptocurrencies higher. Whenever President Donald Trump tweeted about U.S. relations with China, BTC responded, both rising and falling with the geopolitical trends. Once, when Trump…
DetailsBitcoin started a strong downside correction from the $9,945 high against the US Dollar. BTC tested the $8,800 support area and it is currently correcting higher. Bitcoin is trading above the key $8,800 and $9,000 support levels. The price is facing a couple of key hurdles near the $9,400 and $9,500 levels. There is a…
DetailsEthereum is trading nicely above the $192 and $200 support levels against the US Dollar. ETH price could start a strong rally if it clears the $210 and $215 resistance levels. ETH price is showing positive signs above $200 pivot level against the US Dollar. A strong support base is forming above $205 and the…
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