Bitcoin Price Rebound: This morning, BTC bounced back above $8,000, peaking at $8,582.93. It was able to test a previously established resistance level of $7,200; in fact, this price is very close to BTC’s lowest point today. More Upside For BTC? As the chart below shows, BTC is slowly moving back up following almost a…
A Tug-Of-War Between the Bitcoin Bears and Bulls is evident right now. The huge sideways movements in prices continue to stun investors. Though the bulls were weaker against bears over the last few weeks, they applauded the welcome development from the latest Senate Banking Committee meeting – at least for some time. The Tug of…
The cryptocurrency market is continuing to rebound after a shaky day yesterday. Coincidentally, the Dow Jones plunged a total of 1,100 points yesterday, around 4.6%, which is the lowest since the European debt crisis back in 2011. The stock market corrected itself from yesterday’s downfall, is there a correlation between the two? I really don’t…
The cryptocurrency market is rebounding today after many coins lost double-digit percentage value yesterday. China announced their implementation of banning both foreign and domestic cryptocurrency websites with their country-wide firewall. Panic sells have become a common theme as countries publically announce new regulations around cryptocurrency. However, it seems the fear has subsided as most coins…
The cryptocurrency market is rebounding today after many coins lost double-digit percentage value yesterday. China announced their implementation of banning both foreign and domestic cryptocurrency websites with their country-wide firewall. Panic sells have become a common theme as countries publically announce new regulations around cryptocurrency. However, it seems the fear has subsided as most coins…
Will the Chinese New Year crypto effect take hold again this year? Chinese New Year is on February 16th this year and the crypto market is holding its breath until the date passes. Why? In the past, Chinese New Year has caused crypto prices to plummet. Asian countries (China in particular), account for a huge…
This morning, BTC price fell just below the $6,000 mark, but it rebounded soon after and even rose to a daily high of $7,418.89. Currently, it is trading at about $6,996.27 as of 1PM EST. As mentioned yesterday, a major support level was established at $7,000, and today’s movement shows that BTC was able to…
The likelihood of crashing to zero isn’t out of context for bitcoin and other digital currencies because they don’t have any underlying value as purely speculative investments. The increasing interest from technology and financial companies in blockchain technologies had lifted cryptocurrency prices last year. Anonymous transactions had also added to the popularity of digital…
Global energy giant Enel has sharply announced that it has “no interest whatsoever” in supplying energy to cryptocurrency mining operations, say Reuters. The decision comes after a brief period of research in which the Italian company was in talks to supply Swiss mining firm Envion AG with power from renewable sources. According to a Bloomberg…
Cryptocurrency panic selling is happening more than ever these past few weeks. The slew of adverse reports for the crypto markets created a broader selloff in prices. Analysts’ fears over the price manipulation were vindicated following the Tether and Bitfinex related controversy. Moreover, regulators all around the globe are stepping up to regulate cryptocurrency trading.…
