Category: Bitcoin Analysis
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Bitcoin Price Must Hit $213,000 to Become Viable USD Replacement: UBS
Even after weathering a bear market that wiped out more than 60 percent of the flagship cryptocurrency’s value, the bitcoin price continues to trade at a mark far above what its critics thought it could ever reach. Nevertheless, it still has a long way to go if it hopes to supplant the U.S. dollar or…
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Bitcoin Price Retreats 2% as Crypto Market Continues Decline, $8 Billion Dropped
In the past 24 hours, the crypto market dropped $8 billion as major digital assets including Bitcoin, Ether, and Bitcoin Cash recorded losses in the range of two to five percent. Bitcoin Cash and Stellar recorded the largest losses amongst the top ten cryptocurrencies, while Ripple and EOS remained relatively stable with a one percent…
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Bitcoin Price Won’t Hit a New High [This Year]: Trader
It’s possible that the bitcoin price has found a bottom, but that doesn’t necessarily mean that it’s headed for a new all-time high before the end of the year. That’s according to Tuur Demeester, an economist and bitcoin trader, who argues in a new report that the market needs more time to absorb the historic…
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Bitcoin Price Intraday Analysis: BTCUSD Stabilizes Near Crucial Support Level
Just close to a week of bearish action, the Bitcoin market is taking a break near a crucial support level. So far, we have seen the BTC/USD establishing its latest high at 8512-fiat, upon which the pair has undergone strong bearish correction action. We had found a weak support at 7814-fiat, but it was invalidated…
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Bitcoin Price Preparing for a Breakout [But Must Hold Above $6,800]: Wall Street Trader
One of Wall Street’s biggest crypto bulls said that the bitcoin price could be primed for a breakout, as long as it continues to hold near its present level at $7,500. Bart Smith, head of digital asset at Pennsylvania-based trading firm Susquehanna International Group, provided this analysis during an interview with CNBC, explaining that he…
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Crypto Downtrend Continues With Bitcoin at $7,680 in Weak Recovery Attempt
On August 1, the valuation of the crypto market fell to $270 billion as the price of Bitcoin declined by more than 7 percent from $8,300 to $7,500. Low Volume Over the past 24 hours, Bitcoin and other major digital assets have slightly rebounded, adding $3 billion to the valuation of the crypto market. However,…
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Bitcoin Price Intraday Analysis: BTCUSD Bearish Pattern Continues
It is not a new day for Bitcoin speculators, for the prevailing bearish bias in the market has been intensified further following a strong selling round. The day started with BTC/USD sticking to its chop-mood before invalidating a significant support level at 7814-fiat yesterday. We had discussed two outcomes in our previous analysis following the…
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Crypto Bloodbath: Bitcoin Drops 7% to $7,500 as Crypto Market Loses $30 Billion
Over the past 24 hours, the Bitcoin price has dropped by more than 7.5 percent from $8,150 to $7,500, as the crypto market lost $30 billion in one of the steepest drops in the past 30 days. Expected Decline, But Extreme Since July 29, Bitcoin recorded three consecutive sell candles on its one-day chart, demonstrating…
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OTC is Much Larger Than Bitcoin Exchange Volume: Where Real Whales Trade
TABB Group, an international research company, has disclosed in its extensive analytical report that the over-the-counter (OTC) market of bitcoin is significantly larger than the global bitcoin exchange market. OTC Versus Exchanges: Whales Against Retail Traders For many years, the majority of bitcoin analysts predicted billions of dollars to be traded on a regular basis…
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Bitcoin Price Intraday Analysis: BTC/USD Shows No Bullish Action
No longer after we published our analysis on July 30th, 2018, the Bitcoin price against the USD started to slip heavily owing to overlong sideways action. In the past 24 hours. The BTC/USD pair has dropped over 5%, summing-up the overall 9% drop since the July’s high at 8512-fiat. Nevertheless, our intrarange strategy played out…