bitcoin price

The Case for The Bitcoin ETF

  Setting The Stage Imagine a courtroom and Bitcoin making its way to the podium. Seated on the left side of the room are the bullish advocates; opposite to them are the bearish advocates. As Bitcoin passes the barrier and…



Bitcoin Rises as Biggest Asset Manager Studies Crypto Technology

Bitcoin headed for its largest increase in two weeks on Monday, as BlackRock Inc. became the latest big name to signal an interest in the technology underpinning digital currencies.The biggest crypto-coin advanced 5.5 percent to $6,525 as of 6:51 a.m. in New York, according to composite prices on Bloomberg. Rival coins Ripple, Ethereum and Litecoin all climbed at least 5 percent. Bitcoin hasn’t notched a one-day gain of more than 2 percent since July 2.



The Bitcoin Price Leapt Twice In Four Days — These Are The Things Pushing It Up

The bitcoin price has leapt twice in the last four days, taking it up more than 10 percent at one point to just over $6,600 after the price wallowed under $6,000 for most of last week.While some on forums Bitcoin Talk and Reddit’s r/Bitcoin are celebrating a return to a bull market, others are more sceptical — and expect the bears to come out again soon after months of sinking prices for bitcoin and other cryptocurrencies.Here are a few things that are potentially moving the price, and why it might not mean the bitcoin price holds above the psychological $6,000 mark for long.



Bitcoin price analysis: BTC/USD bullish mojo returns, could ‘Italexit’ have contributed to the current gains above $7,500

Bitcoin price led the brief bullish momentum in the market yesterday where it gained more than $200 in less than 1 hour. Bitcoin used $7,120 as a support while the bulls were eyeing $7,600. At the moment, BTC/USD is trading a bullish flag pattern pending another upside breakout.It is still unclear what caused the sudden upsurge in Bitcoin on Tuesday 29, however, one of FXSTREET writers, Yohay Elam believes that there is a connection between the political discord in Italy. ‘Italexit’ might have been the boost that took Bitcoin from trading $7,120 to above $7,500. The elections in March resulted in an economic crisis in the country. Italy’s stock prices have plummeted almost similar to the Brexit situation in Great Britain. The money flowing out of Italy’s bonds, the Euro as well as the global stocks could have ended up in the crypto market. Elam Yohay wrote referring to the crisis in Italy, “When the establishment is in crisis, alternatives are sought after.”


Bitcoin price analysis: This bounce needs to sustain

BTC/USD is down 0.3 percent at $8,445 after bouncing from the low of $8,338 at which point it was down nearly 2 percent. On the daily chart, BTC’s Saturday lows is $8,220 few dollars above the 50 percent fibonacci retracement of this entire rise from April lows, which is a significant support.

For this bounce to sustain Bitcoin should now try and target $8,604 which is 38.2 percent fibonacci retracement level only then can bulls come out of their hidings and show a brave face to bounce back above $9,000. Having said that, on the intra day 15-minute charts there are multiple resistances above $8,450 mark which would be a tough nut to crack in a low volume Sunday trading.


Bitcoin faces ‘death cross’ after falling below $9 000

Bitcoin’s plunge back below $9,000 has the cryptocurrency facing a dreaded death cross. This occurs when the 50-day moving average breaks below its 200-day counterpart on a closing basis. As the name implies, it’s considered a bearish development.

This would be the first death cross for Bitcoin since 2015.

To be sure, there are some countervailing technical signals suggesting this event might not be so crippling. The 200-day moving average is still rising and served as intraday support Friday. In addition, Bitcoin is setting higher lows, with April’s trough higher than February’s.


The Epic Relation Between BTC Prices and the Stock Market

Inside the world of cryptocurrencies, some truths go unquestioned: 1) centralization is terrible, 2) fixed money supplies are great, 3) cryptocurrencies are uncorrelated from stocks.

The last “truth” is now in question.

Many analysts, myself included, have raised questions about Bitcoin following the stock market before, but none of us made the case as strongly as Forbes contributor Clem Chambers.

Chambers recently used intraday trade charts to show that Bitcoin prices often follow the same patterns as the Dow Jones Index. (Source: “Bitcoin Price Is Correlated To Stocks,” Forbes, May 8, 2018.)

In other words, he showed that Bitcoin and the Dow are connected.