Category: Bitcoin Analysis
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Newsflash: Bitcoin Price Slips Below Crucial $6,800 Support Level
The worst does not appear to be over for the bitcoin price, as the flagship cryptocurrency on Tuesday slipped below $6,800, a mark that many analysts had pegged as a critical support level for BTC’s short-term prospects. Bitcoin had spent the majority of the day trading above the $7,000 mark. However, as CCN reported, the…
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Bitcoin Price Intraday Analysis 7/8/2018: BTCUSD Awaiting Breakout
Opposite to what we expected in our previous analysis, Bitcoin has not attempted to extend its bearish momentum, at least in the last 24 hours. The BTC/USD yesterday established an intraday low at 6856-fiat, which also acted as a support to a bullish correction phase. As a result, the pair has recorded around 2% gains…
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DEA: Criminal Activities Account for Just 10 Percent of Bitcoin Transactions
Cryptocurrency enthusiasts have long argued that it’s unfair to characterize bitcoin as a haven for drug dealers and money launderers. Now, they have data from the U.S. Drug Enforcement Agency (DEA) to back up that claim. Speaking in an interview with Bloomberg, DEA special agent Lilita Infante said that criminal activity accounts for approximately 10…
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Bitcoin Suffers, Ripple Drops 5% as Crypto Market Continues Downward Trend
The crypto market has lost $5 billion of its valuation overnight, as major digital assets including Bitcoin, Ripple, Ethereum, and Bitcoin Cash recorded slight losses in the past 24 hours. Bitcoin and Ether, the native cryptocurrency of Ethereum, fell by around 1.5 percent, while Bitcoin Cash and Ripple declined by 2.5 percent and 5 percent…
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Bitcoin Price Intraday Analysis: BTCUSD Expecting Fresh Lows
Before we begin our analysis, it is important to discuss what had prompted a sudden $500-drop in the Bitcoin market. OKEx, a Hong Kong-based cryptocurrency exchange, recently issued a statement that mentioned one of their customers as the main perpetrator of the latest Bitcoin bear-trap. The OKEx client initiated a relatively large long position which,…
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Crypto Market Adds $5 Billion as Tokens Rebound, Low Bitcoin Volume a Concern
Over the past 24 hours, tokens including Digibyte, Aelf, Polymath, and 0x have rebounded, pushing the valuation of the crypto market to $258 billion. Both Bitcoin and Ether, the native cryptocurrency of Ethereum, recorded a two percent increase from yesterday’s price range, as Bitcoin rebounded to $7,160 and Ether reached $413. However, in the past…
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Crypto Market Valuation Drops to $250 Billion, Volume Declines Substantially
The valuation of the crypto market has dropped by $50 billion within a week, from $300 billion to $250 billion, led by the fall of Bitcoin. In the past 24 hours, the Bitcoin price fell from $7,250 to $6,950, extending its loss on August 4 and recording another 4 percent loss on the day. Volume…
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Bitcoin Price Intraday Analysis: BTCUSD Beating Continues
It was consolidating sheepishly until a big red candle just appeared out of nowhere. The bitcoin price, at the time of this writing, has dropped to around $7,000 in what seems like a carefully orchestrated dump. We cannot tell what has caused a $500 drop in the past four hours, but people are already blaming…
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Bitcoin Price Dips to $6,950 Despite Crypto Foray by NYSE and Starbucks
On August 4, after rebounding from $7,200 to $7,500, the price of Bitcoin fell below the $7,000 mark for the first time since July 18. Over the past three weeks, from July 18 to August 4, the price of Bitcoin has been relatively stable in the $7,200 to $7,500 region, recording limited volatility in the…
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Bitcoin Price Intraday Analysis: BTCUSD Forming Bearish Pennant
Bearish bias stayed for dinner, and it now wants to stay the night. There is no stopping to the prevailing selling sentiment in the Bitcoin market. Over the past one week, after establishing a weekly high at 8512-fiat, the BTC/USD pair has slipped 11.6% already. The price action in the past 24 hours has somewhat…