Bitcoin (BTC) looks set to extend its two-day winning streak and could soon test the $9,000 mark, technical analysis suggests. Over the last two days, bitcoin has retraced close to 30 percent of the recent drop from $11,660 (March 5 high) to $7,335 (March 18 high). Further, the cryptocurrency also witnessed an upside break of the key descending trendline yesterday. So, it appears the world's largest cryptocurrency by market capitalization has bottomed out for the short-term. However, despite the bull flag breakout, the cryptocurrency has been restricted to a narrow range of $8,200-$8,700 for the better part of the last 20 hours. Trading volume in the last 48 hours has stayed around the monthly average of $6.64 billion, as per CoinMarketCap, which is a slight cause for concern. A big ris...
While the FSB's announcement didn't take cryptocurrency regulation off of the table , it did support prices Monday, said Bart Stephens, co-founder and managing partner at Blockchain Capital. "The G-20 news over the weekend helped crypto prices. Or at least, the G-20 news could have been a lot worse," Stephens said. Low liquidity and recent news events have exacerbated prices, according to Joe Van Hecke, founder and managing partner at Grace Hall Companies. "There were some positive comments from the Financial Stability Board today that created some much needed bullish news for bitcoin and cryptocurrencies in ...
[unable to retrieve full-text content]Bitcoin Bounces Back From Lowest In More Than 1 Month ForbesBitcoin rallies $1000 after FSB letter to G-20 officials MarketWatchBitcoin is rebounding after plummeting to new lows over the weekend BGRG20 watchdog focuses on rules review, holds fire on cryptocurrencies ReutersFull coverage Source link
The crypto market is now recovering after having taken quite a beating over the weekend. Bitcoin reached new lows for the month of March, dipping all the way down to around $7,300. Ethereum, the second biggest cryptocurrency by market cap, dropped to just over $460. It goes without saying that no coin survived the bloodbath unscathed. However, as usual in the crypto world, the slide did not last that long, so it’s not quite as bad as some people expected. At the time of this writing, all coins have recovered significant ground. Bitcoin and Ethereum are trading at $8,300 and $540, respectively, which is an improvement of 7% and 4% compared to Sunday’s prices. Image Source: CoinMarketCap So what happened? Worries about the imminent “death cross” may have scared away some investors. Bloo
Bitcoin's (BTC) corrective rally could soon see prices climb back to $9,000, however, the longer-term outlook stills remain bearish, according to the technical charts. Bitcoin fell to a 5.5-week low of $7,335 on the BPI yesterday, a drop linked to reports that Twitter is planning to ban cryptocurrency ads. In recent weeks, both Facebook and Google have announced similar bans on advertising content related to crypto exchanges and token sales. However, the drop to a multi-week low was short-lived and the cryptocurrency quickly regained poise - possibly due to a bullish relative strength index (RSI) divergence - clocking a high of $8,435 earlier today. Further, the Financial Stability Board (FSB), which coordinates financial regulation for the G20 economies, yesterday rejected calls for st
Source: Bloomberg.com Bitcoin is on Fire, but Not in a Good Way Bitcoin’s (COIN), (OTCQX:GBTC) meltdown continues. And it’s not just Bitcoin, other cryptocurrencies are actively crashing as well. At the time of writing this article Bitcoin is trading below $7,500, down by 7% on the session. But other digital assets are faring much worse, Ether is below $500, lower by 20% on the day. Ripple is below $0.55, down by more than 15% on the day, and has a market cap below $22 billion now. To put things in perspective the mighty Ripple was trading at a market cap of $145 billion, and at a price of around $3.75 just 10 weeks ago. Source: CoinMarketCap.com - Bitcoin's chart appears negative and the digital asset could break through next support at $6,000. While Bitcoin is down by nearly 65% from
Bladetec, a British IT hardware supplier, has recently revealed plans to build a Bitcoin (BTC) farm in the South East of United Kingdom, The Sunday Telegraph reported March 17.The project dubbed the Third Bladetec Bitcoin Mining Company Ltd (TBBMC) aims to raise £10 mln or roughly $13.9 mln from investors to build and operate the farm over the next two to three years. The developers then plan to sell off the mined coins as well as the mining equipment to provide investment returns, says the funding platform for the project, Envestry.Bladetec founder John Kingdon claims that investors “don’t risk losing any money”. According to his calculations, sale of the mining equipment alone would result in profit; it’s unknown whether he took into consideration factors such as decreasing hardware
If there’s one thing a crypto recession’s good for, it’s rebuilding. It’s debatable whether we’re in a full-blown recession admittedly, but whatever you wanna call it, the charts ain’t looking too pretty. The upside to that is it’s a great time for looking elsewhere. With Easter imminent, it seems fitting that some of crypto’s biggest players should be focusing on renewal: new blockchains, new miners, new scaling solutions, and new licenses. This week in bitcoin, the great build begins. Also read: Paypal Users Receive Cryptocurrency Warning Email From HODL to BUIDL If HODL is what we do with our crypto, BUIDL is what we do when our coins are no longer worth HODLing. It’s fair to say that most of us still believe in bitcoin as much as ever, but are capable of conceding that it may be a f
Bitcoin prices rallied back by more than $700 in less than three hours during late Sunday trading, capping off a wild weekend that saw the digital currency plunge through $8,000 and even near the $7,000 level. Prices are still off by 15 percent in the last 7 days, according to Coinbase. Source: Coinbase The cryptocurrency hit a low of $7,335.57 earlier Sunday before recovering back above $8,000, according to CoinDesk. Traders were unsure of what was behind the late comeback, but ...
Bitcoin has endured a rough couple of weeks. Following a stint that saw it trading for nearly $10,000, bitcoin sunk last Wednesday by over $1,000 following Google’s announcement that it would ban cryptocurrency and ICO-related advertisements this coming June. Sadly, despite a few brief price hikes between $8,100 and $8,500, the price has fallen to a one-month low of $7,600. The move likely stems from Twitter’s recent announcement that it would begin banning cryptocurrency ads within the next two weeks. Should the platform take such action, Twitter would ultimately become the third major player to strike against bitcoin after Google and Facebook last January. Marketing and awareness surrou