Category: Bitcoin Analysis
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Despite its 70% Price Drop, Bitcoin Surpassed Gold in Settlement Volume
Nic Carter, a well respected cryptocurrency researcher, has said that Bitcoin has surpassed the OTC gold market in settlement volumes, even amidst a 70 percent drop in its price. Bitcoin as a Better Medium of Exchange According to the clearing statistics of the London bullion market (LBMA), five major clearing members of the LPMCL including…
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Why the Cryptocurrency Bubble is Reminiscent of Hodling Amazon Stock: CoinShares CSO
What a difference a few weeks can make. Just 21 days ago, the bitcoin price was trading above $8,400, riding what appeared to many to be the first wave of a new bull market. The bottom, the analysts said, was in. Now, midway through August, bitcoin is fighting just to hold above $6,000. The altcoin…
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Bitcoin and Ether Lack Momentum as Crypto Market Falls Below $200 Billion
In the past 24 hours, the crypto market has lost $23 billion, dropping from $217 billion to $194 billion, as major cryptocurrencies including Bitcoin showed a lack of momentum. What Has Happened to the Market? Without any exception, every major cryptocurrency in the market has plunged in value on August 14. Ether, the native cryptocurrency…
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Bitcoin Price Intraday Analysis: BTCUSD Hinting Another Bear Flagpole
The short-term gains can never compensate for the long-term losses. So it seems from the latest Bitcoin price action which, during the weekend, jumped more than 7.5% and promised an extended breakout, but fell short of delivering it. This Monday started with minor pullbacks from the early 6550-fiat level during the Asian trading session. However,…
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Bitcoin Price Makes Gains While Wider Crypto Market Struggles
The Bitcoin price has risen by around 2 percent in the last 24 hours, increasing from $6,250 to $6,400. But, the rest of the crypto market is still struggling to gain momentum. Bitcoin is King in a Bear Market Since February, the cryptocurrency market has been in a bear market, the third worst in its…
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Bitcoin Price Creeps Near $6,500 as Tether Issues $50 Million Worth of New Tokens
The bitcoin price saw a slight bump on Monday, rising just under two percent to extend the market’s weekend recovery into the new week. After trading as low as $6,109 on Saturday, bitcoin is now priced at $6,458 on Bitfinex, which translates into a $111 billion market cap. While there are many factors that impact…
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$6,000 a ‘Crucial’ Level for Bitcoin Price: Canadian Crypto Fund
Bitcoin’s $6,000 price region has been described as a crucial support by Rivemont Crypto Fund, based in Canada. The details of this description is recorded in a post on the company’s facebook account where the factors leading to this conclusion were discussed. A Strong Support Region The next direction of Bitcoin price has been a…
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Bitcoin Price Intraday Analysis: BTCUSD Undergoes Bullish Correction
The bitcoin price in the past 24 hours has undergone a much-needed bullish correction, rising about $500 since establishing an intraday low around $6,009. In our previous BTC/USD analysis, we were waiting for a bounce back from 6009-fiat to apply our intrarange strategy. As it did, our long position towards 6192-fiat made us a nominal…
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$43 Billion Wiped Out of Crypto in 5 Days as Bitcoin Price Rebounds
Over the past 24 hours, Bitcoin, Ethereum, and Bitcoin Cash recovered by around four percent, as the crypto market added $8 billion to its valuation. On August 11, the crypto market lost more than $12 billion of its valuation as major cryptocurrencies recorded large losses. Since then, the market has slightly recovered but the momentum…
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Yale: Every Portfolio Should Have Crypto, Method Used by Billionaire Investors
Yale economist Aleh Tsyvinski, who has taught economics at the prestigious Yale university for many years, has said that every investor who believes bitcoin can perform as well as it did in 2017 should invest at least six percent of their holdings in crypto. “If you as an investor believe that bitcoin will perform as…