Price

  • Bitcoin Price Plummeted Below $10k Overnight; Here’s What Analysts Think

    Several traders and analysts had earlier warned that bitcoin was heading for $8000 after it fell to $10,300 earlier this week.

    Aug 30, 2019
  • Bitcoin Price At $9,400 is a “Good Buying Opportunity”: Here’s Why

    Bitcoin (BTC) has been absolutely hammered over the past two days. In fact, some 36 hours ago, it was trading at $10,200; now, the cryptocurrency is sitting snug at $9,500. Related Reading: Altcoin Market Is Failing to Produce Utility, Only Bitcoin Can Become Money This dramatic sell-off, which comes after the cryptocurrency traded in the low-$10,000s for a good two weeks, has inflicted investors across the board with a newfound sense of fear. Analyst Dave the Wave, who has been calling for BTC to fall to $6,000 for weeks, doubled down on his prediction in the wake of the crash. He pointed out that Bitcoin is currently in a descending triangle that has a breakdown target of $6,200. Youch. Assuming you still have dry powder left, and assuming it goes this low, will you be ready to pull the trigger? pic.twitter.com/eCANwD4XZt — dave the wave (@davthewave) August 29, 2019 However, there are some remaining optimistic. In fact, one prominent analyst, famous for his on-chain analysis, is arguing that now may be an optimal time to accumulate BTC, not sell it….

    Aug 30, 2019
  • Bitcoin Price Struggles to Recover After Slump Earlier Today

    Wednesday, Aug. 28 — Top cryptocurrencies Bitcoin (BTC), Ether (ETH) and XRP are in the red following a sudden price crash at 5:45 p.m. UTC. The market as a whole is also red across the board. Market visualization. Source: Coin360 The Bitcoin price is trading at $9,691 at press time, marking a 4.42% price decrease on the day. BTC, ETH and XRP all sharply dropped in price from 5:45 p.m. to 6:20 p.m. UTC today — just over 35 minutes’ time. Bitcoin dropped by approximately 6% in this period, falling from over $10,265 to $9,630.  Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Bitcoin 7-day price chart. Source: Coin360 At press time, the top altcoin Ether is trading over $173 and is down by 6.73% on the day. ETH fell by over 9.6% in today’s price crash, from over $186 to under $168. Just yesterday, the blockchain-based browser Brave announced that it is developing a crypto wallet that will support ETH, Ethereum-based tokens and collectibles, as well as decentralized applications or DApps. Twitter Facebook reddit Pinterest Hacker News…

    Aug 29, 2019
  • Bitcoin (BTC) Price Poised For Continued Weakness

    Bitcoin price struggled to gain above $10,500 and declined below $10,300 against the US Dollar. The price is currently trading in a bearish zone below the $10,350 and $10,500 resistances. There is a rising channel or a bearish flag forming with support near $10,040 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could decline sharply if there is a downside break below the $10,000 support. Bitcoin price is facing a lot of hurdles near $10,400 and $10,500 against the US Dollar. Therefore, BTC could continue to move down below $10,200 and $10,000. Bitcoin Price Analysis Yesterday, we saw a solid upward move in bitcoin above $10,250 against the US Dollar. The price even traded above the $10,400 level and the 100 hourly simple moving average. Finally, the price surpassed $10,500, but it struggled to retain gains. As a result, the price topped near $10,697 and later started a fresh decline. It broke the $10,500 and $10,400 levels to move back into a bearish zone. Moreover, there was a break below the $10,300 level and…

    Aug 29, 2019
  • Here’s Why Bitcoin Price Plummeted 8% Overnight

    Overnight, the bitcoin price has dropped from $10,959 to $10,068 against the U.S. dollar, recording an 8.13 percent slip within a 24-hour span.

    Aug 21, 2019
  • Bitcoin Price Technical Bias Favors More Downsides

    Bitcoin price is showing bearish signs below $11,500 against the US Dollar.

    Aug 13, 2019
  • Goldman Sachs Sets Short-Term Bitcoin Price Target at $13,971

    Goldman Sachs is predicting a new 2019 bitcoin price high of $13,971 once the current pullback is over.

    Aug 13, 2019
  • Crypto Analyst: Bitcoin Price Could Be Trapped in Tight Range Until Halving

    Weekly resistance at $11,500 continues to play an important price level to beat, while bears have been unable to push below the mid-$9,000 range.

    Aug 13, 2019
  • Should Ripple Burn 50% of XRP’s Supply to Pump Its Price?

    A bunch of XRP fans are getting behind a proposal led by a prominent crypto trader that Ripple should burn half the XRP held in its reserves. The logic here is that by reducing the supply, the coin’s price will rise more easily, making a mint for everyone involved. The petition, started by trader Crypto Bitlord—who has more than 100,000 followers on Twitter—on August 5, has over 300 signatures so far. It recommends that Ripple no longer release its supply of XRP onto the crypto market, suggesting this will lead to a pump, “like the good ol days.” “Ripple continue [sic] dumping billions of XRP on us, crashing the price!” the petition states, adding, “Sure we know that XRP is a solid coin with major potential but this needs to stop!” Much of the blame is placed on Ripple’s holdings of XRP—50 percent of its total supply—which it systematically sells into the market to stimulate the growth of the ecosystem. Those moves rapidly increase the supply of XRP, putting downward pressure on the price. We have contacted Ripple for its response and will update…

    Aug 8, 2019
  • Market Outlook: Trade Wars and Filthy Fiat Battles Fuel Crypto Prices

    A slew of digital currencies have gathered decent gains over the last 48 hours and the entire market capitalization now stands at around $308 billion. Moreover, cryptocurrency trade volumes have kicked up a notch, capturing $66 billion in swaps over the last day. Overall, speculators think the recent spike in crypto prices is due to the overwhelming economic uncertainty worldwide. Despite Traditional Market Downturn, Crypto Markets See Steady Gains Cryptocurrency prices have jumped northbound once again as a large number of digital assets have seen gains between 2-15% over the last 24 hours. At the time of publication, the price of bitcoin core (BTC) is hovering just below the $12K mark at $11,757 per coin. BTC is up over 8% in 24 hours and has a market valuation of around $209 billion. The cryptocurrency is up 23% over the last seven days and there’s $23 billion in global BTC trade volume on August 5. Right behind BTC is ETH which is hovering around $231 per coin and is up over 4.9% today. Ripple (XRP) is up a hair over 2% this Monday and is trading for $0.32 per XRP….

    Aug 6, 2019
  • Bitcoin Price Jumps 10%, Outperforms S&P 500 by 10X YTD

    The weekend has been a positive one for bitcoin price which has cranked a further 10 percent as it heads towards $12,000. The move makes BTC a better performing asset than stocks by a factor of ten so far this year. BITCOIN POWERS THROUGH RESISTANCE Since bitcoin price broke above $10k late last week it hasn’t looked back. After spending most of Sunday hovering just below $11k BTC surged almost 10% to power through resistance and touch a new 24 day high. The bulls were charging during Asian trading today as bitcoin reached $11,800 according to Tradingview. Daily volume has cranked up to $20 billion once again as millions of dollars in BTC shorts on BitMEX were liquidated. On the daily chart, bitcoin is now into its seventh consecutive green candle which has pushed it back above the 50-day moving average indicating a strengthening of the uptrend. The CME futures chart could offer an indication of where the next resistance levels lie and trader ‘CryptoFibonacci’ has been eyeing it: “Another gap created to the downside.  But, price could go up to the 61.8…

    Aug 5, 2019
  • Cryptocurrency Price Review for the Week July 29 to August 4

    Hi Readers, welcome to cryptocurrency price analysis for the week. Do not forget to check movers and shakers for this week at the last of the article. Bitcoin (BTC) This week Bitcoin saw a bit of positivity after the past couple of weeks of selling. The prices hit a high point of USD 10,946.78 and the lowest point of USD 9,437.34 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were, OEX (4.63%), Bit-Z (2.88%) and RightBTC (2.40%). Among prominent news around Bitcoin, Early Bitcoin investor Max Keiser tweeted that he foresees Bitcoin price smashing through the $15,000 mark sometime this week amid troubles with centralized government and banking Ethereum (ETH) Ethereum has been kind of weak over past few days and the price is slowly inching back towards the USD 220 mark. Ethereum on the top, this week were at USD 224.62 and were at lows of USD 206.87. The markets that were more active, in volumes, with ETH across various pairs this week were Coinegg (4.17%), OEX (3.02%) and…

    Aug 5, 2019
  • Bitcoin Price on the Rise After First Fed Rate Cut Since 2008

    Bitcoin (BTC) has eked out moderate gains amid the U.S. Federal Reserve’s announcement of its first rate cut in over a decade. The top cryptocurrency by market value is currently trading at $9,950 on Bitstamp, representing a 2 percent gain on a 24-hour basis. The Federal Reserve (Fed) on Wednesday said it will lower interest rates by 0.25 percent to cushion the economy from a global slowdown and trade tensions. That was the first U.S. interest rate cut since the great financial crisis of 2008, and indeed since the creation of bitcoin in 2009. BTC rose by over $200 to $10,000 in the three hours leading up to the Fed’s announcement at 18:00 UTC. More importantly, the cryptocurrency remained bid in the following hours and hit a high of $10,172, according to Bitstamp data. The price action seems to have convinced investors that BTC picked up a bid due to Fed’s rate cut. Boon for bitcoin? Some observers believe rate cuts by the Fed bode well for BTC. This is because an interest rate cut reduces the yield on a currency. Further, the liquidity…

    Aug 2, 2019
  • Market Outlook: Crypto Prices Consolidate as Economic Uncertainty Looms

    Digital currency markets have been meandering sideways for a few days as most of the top crypto prices have been consolidating. Some traders believe there will be a big bullish rise after the current slump, while others think crypto prices may sink even lower. Amidst the crypto market uncertainty, economists worldwide are predicting a great recession looming in the backdrop. Persistent Consolidation On Sunday, July 28 the entire market capitalization of digital assets is around $263 billion and there’s been $43 billion in 24-hour global trade volume. Digital currency market caps, individual coin prices, and overall global trade volumes have dropped significantly since June. Currently, the price of bitcoin core (BTC) is hovering around $9,500 with around $13 billion in daily trade volume. During the early morning trading sessions on July 28, more than 68% of BTC trades are paired against tether (USDT). Following BTC’s lead, ethereum (ETH) holds the second largest valuation as each ETH is swapping for $209. Ethereum markets have roughly $5.7 billion worth of Sunday’s overall trade volumes. Ripple (XRP) is still hanging tight in third position and each XRP is swapping for…

    Jul 29, 2019
  • Bitcoin Has Regained $10,000 Today, the Current Trend of $100,000 Is Still Expected

    Bitcoin rose more than $10,000 on the morning of July 25 after nearly two weeks of downturn. For the recent market, famous analyst Aayush Jindal predicts that the latest resistance of Bitcoin is close to $10,000 from the BTC/USD hourly chart. Therefore, a short-term recovery may occur at a price above $10,000. At present, the price of Bitcoin is $10072.87. If it is maintained at a price above $10,000, then it may continue to rise. In fact, the current price of Bitcoin has completely broken the optimistic forecast of most analysts. When Bitcoin broke through $12,000 for the first time a month ago, eToro analyst Simon Peters said in a public comment that Bitcoin could reach $20,000 in the next 7 to 14 days. Peters gave two reasons for this conclusion. First, after the last Bitcoin reached $11,800, it took about one to two weeks to reach $20,000, which is an upward trend driven by investors’ FOMO. Second, Facebook’s Libra project has injected a new possibility into the encryption space, which will cause Bitcoin price to rise over time. Peters’ predictions did not…

    Jul 25, 2019
  • Iran Finalizes Electricity Pricing Scheme for Cryptocurrency Miners

    The Iranian Economic Commission has reportedly finalized a tariff scheme for cryptocurrency miners, according to a July 21 report from Iranian economic daily Financial Tribune.  Per the report, Energy Minister Homayoon Ha’eri announced that, while the tariff scheme has been finalized, it is awaiting approval from the Cabinet of Iran — a governmental body consisting of various ministers and other officials chosen by the president.  While Ha’eri did not elaborate on the exact price scheme, he stated that the price is dependent on market factors such as fuel prices in the Persian Gulf.  The head of Iran Electrical Industry Syndicate, Ali Bakhshi, previously proposed a price of $0.07 per kilowatt hour for cryptocurrency miners. Electricity in Iran is currently very cheap due to government subsidies; one kilowatt hour of electricity currently costs $0.05, with power being cheaper in the agricultural and industrial sectors.  To put these prices in context, Mostafa Rajabi Mashhadi, the Energy Ministry spokesman for the power department, previously stated that the production of a single Bitcoin (BTC) uses about $1,400 in state subsidies.  The Financial Tribune reports that mining…

    Jul 22, 2019

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