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Previous gains which took BTC/USD closer to $11,000 evaporate amid new worries over legal upheavals. Bitcoin (BTC) was coming down from a fresh uptick on July 19 amid rumors United States authorities were preparing to investigate derivatives giant BitMEX. Market visualization. Source: Coin360 Politics and investigations weigh on Bitcoin Data from Coin360 showed BTC/USD targeting $10,000 support at press time Friday, having risen as high as $10,750 in the past 24 hours. On Thursday, as the U.S. Congress met to debate the impact of Facebook’s Libra digital currency, the focus shifted briefly to differentiating Bitcoin from Libra on a technical level. This appeared to boost sentiment, with BTC/USD jumping higher after hitting lows of $9,330. Volatility nonetheless remains high, with the pair regularly moving by hundreds of dollars in minutes. Bitcoin 7-day price chart. Courtesy of Coin360 Now, reports that U.S. authorities will probe BitMEX over flouting a ban on residents using ..
Bitcoin price is back above the key psychological $10,000 level after a downward correction and some bullish comments from a U.S. lawmaker. Bitcoin (BTC) has retaken $10,000 today following a moderately volatile month, according to data provided by Coin360. Bitcoin starting its parabolic advance in April which culminated in retailing the 5-figure mark in June for the first time since March 2018. At the time, BTC was on a slow-and-steady bull run that peaked just shy of $14,000 on June 26. Since then, BTC has moved around a decent amount, dipping below $10,000 on July 2, retaking $13,000 on July 10, and slumping below $10,000 again on July 16. Some analysts linked this week’s correction to technical reasons alongside the Libra hearings on Capitol Hill. Additionally, recent remarks from United States (U.S.) Secretary Treasury Steven Mnuchin who echoed president Donald Trump’s “not a fan of Bitcoin” comments could have also played a role. But the ongoing scrutiny of Facebook’s Libra pr..
Bitcoin price levels will not dip to new lows prior to the May 2020 halving event, market analyst Filb Filb suggests. Bitcoin (BTC) miners want to coordinate the market in order to maximize revenue as the 2020 block reward halving nears. Are miner’s controlling the market?That was the conclusion of a new Bitcoin price analysis by popular trader Filb Filb as BTC/USD neared $9,000 on July 17. The largest cryptocurrency saw considerable downward pressure this week following a volatile period, while analysts remain at odds as to which factors are driving the market. Filb Filb, however, does not imagine Bitcoin will see new lows this year, as miners wish to optimize their profitability as far as possible. They, he said, are firmly in control. “As Satoshi said himself rightly pointed out that commodity costs are likely to gravitate to production cost. Why? Because miners will sell into demand where revenue per unit > cost per unit. Likewise, collectively they are disincentivized to sell wh..
A change in behavior on crypto markets became apparent Thursday, to the relief of altcoin traders. Bitcoin (BTC) was challenging the $10,000 barrier again on July 18 after a modest uptick broke up several days of losses. Market visualization. Source: Coin360 A sea of green for Bitcoin and altcoinsData from Coin360 showed BTC/USD hovering just below the significant marker Thursday, circling $9,900 on the back of 2.9% gains over the past 24 hours. The pair had encountered difficulties over the week, declining from near $11,000 to hit local lows close to $9,000. Bitcoin 7-day price chart. Courtesy of Coin360 Analysts immediately sounded the alarm about a possible sentiment change for Bitcoin, but found it hard to reach consensus about whether the price declines were part of a long-term bearish trend. “Bitcoin had a nice bounce that tapped the previous 4hr chart low and I honestly think it needs to push up more before continuation down,” investor and trader Josh Rager wrote in his m..
This dip is a good buying opportunity in Bitcoin. What are the critical levels to watch out for? Let’s look at the charts. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. Bitcoin rallied from $3,355 on Jan. 29 to a high of $13,973.5 on June 26. That is a gain of 316.49% in just under five months. In that, the last 56% of the rally happened after Facebook unveiled Libra. In the past few days, Libra has come under increased scrutiny from regulators and politicians and Bitcoin has given back the last leg of the gains. While Libra might dent sentiment in the short term, it is unlikely to change the long-term trend in Bitcoin that is buoyed by fundamentals. Digital asset management fund Grayscale Investments has reported a significant growth in its assets..
The combined cryptocurrency market cap should shed 80% of its recent gains, Peter Brandt warns. Bitcoin Price Clings to $9,500 SupportBitcoin (BTC) continued to trade down on July 17 after a further 10% fall sent the price of the largest cryptocurrency back below $10,000. Market visualization courtesy of Coin360 Data from Coin360 showed a problematic 24 hours for traders Wednesday, BTC/USD circling $9,600 after bouncing off lows at just $9,266. The downward trend followed increased United States government attention on cryptocurrency and related phenomena, with comments by Treasury Secretary Steven Mnuchin and the ongoing hearings on Facebook’s Libra closely watched by markets. Bitcoin 7-day price chart. Courtesy of Coin360 ‘Looks Like the Trend Has Changed’As Bitcoin’s previous parabolic trend appeared firmly over, now, analysts were preparing to brace for a further major correction which could erase even more of its advances. For Peter Brandt, the veteran trader who predicted sev..
Following the downward trend in the cryptocurrency market, Bitcoin has been playing peek-a-boo as it swings up and down the price market. Bitcoin News Today learned that Bitcoin BTC wasn’t immune to the plague that affected the prices of all the major coins in the cryptocurrency market. The price of BTC fell to below $10,000, a market hadn’t fallen to in quite some time. Bitcoin News Today – Bitcoin Price Prediction 2019 – BTC/USD – Tom Lee Comments On Price Action Of BTC Though the BTC was able to rise again, it went through a period were it staggered like a knocked-out boxer. Regaining its feet at $10,700, Bitcoin price prediction by analysts all favor a steady rise in the price of the BTC. In a tweet on July 14, 2019, by the co-founder of Fundstrat Global Advisors, Thomas Lee believes that the recent pullback by BTC was a healthy one. When asked about the recent decrease in the search for bitcoin in google searches, Bitcoin news today read that Thomas Lee saw the decline in the se..
Markets could slide lower than the recent $9,912 bottom, traders are warned, despite current upwards momentum. Bitcoin (BTC) appeared ready to tackle $11,000 once again on July 16 after bouncing off lows as the United States government re enforced its position on the industry. Market visualization courtesy of Coin360 Data from Coin360 placed BTC/USD at $10,715 on Tuesday, the pair having gained $800 over the past 24 hours. On Monday, U.S. Treasury Secretary Steve Mnuchin had given mixed signals about Bitcoin at a dedicated cryptocurrency press conference, with reactions nonetheless showing signs of broad relief about future policy. Previously, concerns had mounted that president Donald Trump, after a Twitter tirade last week, could attempt to force through a de facto ban on trading Bitcoin in the U.S. Now, analysts looking for signs Bitcoin could upend its latest bearish moves have something to watch for. Josh Rager, the investor and trader currently giving daily updates on BTC/USD..
Can Bitcoin again lead the next leg of the recovery? Let’s look at the charts. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. The sharp recovery from the lows led by Bitcoin was largely based on the pretext that institutional players had finally started to take greater interest in the asset class. The sharp uptick in Bitcoin futures volumes and increased demand for Grayscale Bitcoin Trust shares was thought to be indicative of this. However, Binance's chief executive Changpeng Zhao, in an interview with Bloomberg, said that there has been an equal growth in both institutional and retail trading. The retail traders still account for about 60% of trading volume at Binance, which shows that institutional trading growth “has not increased that trem..
Bitcoin News Today – If you’ve been paying attention, you’d know that the price of Bitcoin and altcoins have taken a hit with the flagship cryptocurrency falling below the $10,600 level and the altcoins bleeding back into 2017 levels. While everyone was expecting that the bleeding will stop this morning, the prices continued to fall against the USD. Short-term traders are selling off to protect their CAPITAL, but a well known cryptocurrency analyst, Josh Rager, has suggested that the falling price of Bitcoin BTC is a good thing for the cryptocurrency market. Bitcoin News Today – Cryptocurrency News Today – Bitcoin’s Downtrend is a Gift Josh Rager, who has over 50k followers on Twitter is well-known for his accurate price predictions and analysis. Taking to Twitter, he said that the fall in the price of Bitcoin back to the $10k levels is a gift to the cryptocurrency market. In his words; “Said it once and will say it again 4 digit Bitcoin is a gift. Whether it hits $9ks or even $8ks.”..