Category: Bitcoin Analysis
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Bitcoin Price Intraday Analysis: BTCUSD Could Retest 2018’s Low
The first time we saw a bear beating the hell out of somebody was in the Revenant. Then, it happened in February when bears attack knocked Bitcoin down from the $19,000-highs to the early $6,000-lows. A few months later, in June, Bitcoin revisited its previous yearly low and eventually broke it to establish a new one…
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Bitcoin and Ethereum Fall Substantially in $18 Billion Crypto Market Wipeout
Over the past 24 hours, the crypto market has recorded a loss of $18 billion, as major cryptocurrencies including Bitcoin, Ether, EOS, and Bitcoin Cash dropped by 4 to 13 percent. While Bitcoin ended the day with a 4 percent decline in its value, Ether, the native cryptocurrency of Ethereum, plummeted by 13 percent against…
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‘Game Over’ for Bitcoin, Claims Bearish Technical Analyst
If the bitcoin price falls below the important year-to-date support level, the dominant cryptocurrency will suffer irreparable damage in the marketplace. This is the opinion of Renaissance Macro Research, quoted by CNBC on Thursday Aug. 9. Bitcoin May Be ‘Permanently Impaired’ According to the financial analysis firm, what bitcoin is facing right now could be…
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$5,800 Next? Bitcoin and Major Cryptos Recover But Downtrend is Strong
On August 8, the crypto market seemed to be improving, as Bitcoin rebounded to $6,600 and Bitcoin Cash hit $620. However, over the past several hours, the major cryptocurrencies have started to demonstrate a decline in their momentum, as Bitcoin fell to low $6,300 and Bitcoin Cash fell below the $600 mark. Lack of Momentum…
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Bitcoin Price Intraday Analysis: BTCUSD Bull Pennant Formation
The Bitcoin price regained some of its lost value on Thursday following a small but noteworthy correction. The BTC/USD pair yesterday established a new intraday low at 6131-fiat, a level that attracted buyers waiting to buy the dip, and has gained as much as 7% value ever since. The early Asian trading hours today witnessed…
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Bitcoin Price Intraday Analysis: BTCUSD Pushed Off the Cliff
The Securities and Exchange Commission (SEC) spoiled the upside gains we had made yesterday in the Bitcoin market. The regulator delayed its decision on the Bitcoin ETF proposed by the VanEck SolidX Bitcoin Trust. The Bitcoin price fell 11% soon after the news broke into the wire. To ease our pain, we joked and called…
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Newsflash: Bitcoin Price Drops to $6,180 as Market Hits 3-Week Low
The bitcoin price took another major downward pivot on Wednesday, forcing the value of the flagship cryptocurrency to a three-week low. Bitcoin spent the majority of the morning and early afternoon trading near $6,500 but proved unable to sustain that level heading into the evening. Following a thirty-minute stretch that saw BTC/USD shed close to…
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Bitcoin Price Plummets to Mid-$6,000 as Crypto Market Crashes: Factors and Trends
Similar to the short-term trend outlined by CCN yesterday, the Bitcoin price has dropped by mid-$6,000 as it failed to demonstrate a recovery in its volume. Yesterday, CCN reported that the volume of BTC and the rest of the crypto market have dropped substantially since late July, by more than 30 percent. Given the failed…
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Bitcoin the ‘Best House in a Tough Neighborhood’: Wall Street Strategist
Despite the positive news seen in the crypto space recently with ICE, the owner of the world’s largest stock exchange, setting up a new bitcoin market, the rumors that bitcoin ETFs are on the way (but maybe not in 2018), and the classification of bitcoin as a commodity by the SEC, the price of bitcoin…
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Another Major Investment Firm Says Bitcoin ETF Not Likely in 2018
Canaccord, the biggest investment firm in Canada, has said that the approval of a Bitcoin exchange-traded fund (ETF) is highly unlikely in 2018. In an official report entitled “Blockchain and Digital Assets: US Equity Research” Canaccord researchers Michael Graham and Scott Suh wrote: “And although the VanEck SolidX Bitcoin Trust, seen by many as the…