Category: Price Watch
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Bitcoin continues retracing; is the bull market over?
Bitcoin has seen its price depreciate significantly over the past two weeks. The downward movement triggered a state of commotion among market participants who are concerned about the fate of the flagship cryptocurrency. The following analysis evaluates whether Bitcoin’s uptrend remains intact from a long-term perspective. Bitcoin may have reached a tipping point Following a…
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CME Bitcoin expiration is imminent: Why does the crypto market tend to recover on its close?
The CME Bitcoin futures market will close at 4 pm UTC on Feb. 28. Every time the cryptocurrency market saw futures close in the last four months, it tended to rebound. Will Bitcoin recover upon futures close? Throughout the past three months, the CME Bitcoin futures market closed on Jan. 31, Dec. 27, and Nov.…
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Bitcoin in precarious position as Dow Jones enters correction territory on Coronavirus fears
The global markets have been caught within extreme turmoil over the past several days, with the rapid spread of the Coronavirus striking fear into the heart of investors. This has led the Dow Jones to plummet, with the decline of traditional markets also coming alongside a strong Bitcoin correction. This turmoil — which has transcended…
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Despite the downturn, Bitcoin fundamentals grow strong
Bitcoin took a significant nosedive sending investors into fear, according to the Crypto Fear and Greed Index. Despite the commotion in the market, on-chain metrics reveal that BTC’s network is stronger than ever. Bitcoin could drop even further Over the past two weeks, Bitcoin entered a bearish trend that has seen its price depreciate over…
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Ethereum bulls defend key support, but analysts still think the top is in
It has been a rocky few days for the crypto markets, with Bitcoin, Ethereum (ETH) and most major altcoins incurring intense selloffs that have led them to erase a significant amount of the gains they incurred throughout the past couple of months. Ethereum has been particularly impacted by this recent downtrend, which comes as the…
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Why the Bitcoin price just dropped below $9k in steep reversal, liquidating $83 million in longs
The Bitcoin price just dropped below the $9,000 level, hitting $8,964 on BitMEX. The sentiment around the cryptocurrency market noticeably declined after BTC rejected the $10,000 resistance level three times in a span of 15 days. What’s triggering the trend reversal? Within a span of minutes, BitMEX recorded around $83 million worth of long liquidations…
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XRP plummets to $0.24 as analysts watch for capitulatory move to 2020 lows
XRP, like many other major altcoins, has caught the brunt of Bitcoin’s recent downturn, with the embattled crypto plummeting from its recent highs of $0.35 all the way down to its current price of under $0.25. This intense selloff has led to a degradation of nearly all the technical strength that had come about as…
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Step aside Bitcoin: data shows Ethereum is a hedge against global volatility
Bitcoin bulls have long been pointing to its potential as a “digital gold” as one reason why it will eventually garner widespread adoption. In spite of this, there has been conflicting research regarding this notion, and the potential for other major cryptocurrencies – including Ethereum (ETH) — to be safe-haven assets has often been overlooked.…