Analysts and pundits will scramble to find some angle to explain intra-day price action whenever important economic numbers are published and this practice is commonplace in the crypto sector.  When the United States Bureau of Labor Statistics reported a 7.5% increase in the Consumer Price Index (CPI) on Feb. 10, traders rushed to find some connection to the crypto price action. However, historical correlation data shows investors should actually closely scrutinize whether there is even a… Source link

Uber customers will eventually be able to use bitcoin to pay for their trips, according to the ride-hailing app’s top boss – though the company is waiting for a couple of improvements before it gives the green light. Uber CEO Dara Khosrowshahi said the company is “having conversations all the time” on whether it should begin to accept cryptocurrencies as a form of payment. “Is Uber going to accept crypto in the future? Absolutely, at some point,”… Source link

The relative strength index (RSI) on the daily chart approached oversold territory on Wednesday, which preceded the recent downturn in price. On the weekly chart, however, the RSI is rising from oversold levels similar to what occurred in March 2020, which could keep buyers active over the short term. Source link

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Image source: Getty Images While Bitcoin leads the crypto space in market cap, it’s draggin’ wagon when it comes to price growth this year. Here are three cryptos currently outperforming BTC. Key points While Bitcoin dominates the crypto industry with its $829 billion market cap, its price is… Source link

Bitcoin (BTC) hovered above $43,000 on Feb. 11 as volatility waned after a fresh local peak. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Support and resistance zones narrow Data from Cointelegraph Markets Pro and TradingView showed BTC/USD awaiting a trigger to test either support or resistance nearby as Wall Street opened on Feb. 11. The largest cryptocurrency had seen difficult moves for traders after Feb. 10’s U.S. CPI data, this causing pain for longs and shorts alike as… Source link

An artist paints a Bitcoin mural at the North American Bitcoin Conference in Miami, held earlier this year. Wall Street sees various scenarios for the largest crypto. Photo by Joe Raedle/Getty Images … Source link

Cryptocurrency has been volatile lately along with the stock market. Ethereum (CRYPTO:ETH), for example, is up 77% during the past year, but down 3% in the past month. Bitcoin, on the other hand, is down 6% over the past year, and up 5% over the past month. This is partly in reaction to changing and uncertain macroeconomic trends, such as inflation and interest rates. It also could be related to uncertainty about cryptocurrency in general. There are… Source link

The last few months have been rough for cryptocurrency, as the majority of cryptos have watched their prices take a nosedive. After reaching an all-time high in mid-November, the price of Ethereum (CRYPTO:ETH) had dropped by nearly 50% by the end of January. While this volatility can be nerve-wracking for investors, it can also be a fantastic opportunity to “buy the dip,” or invest when prices are at their lowest. Ethereum’s price has started to… Source link

Bitcoin (BTC) has a “possibility” of winning back more lost ground this month, but a retest of $40,000 may test bulls beforehand. In its latest market update on Feb. 11, trading suite Decentrader voiced cautious optimism over BTC price action. Derivatives turn complementary After rallying above $45,500 on the back of United States economic data, BTC/USD has since dropped back into the range that has defined it this week. For Decentrader, the chances of a low-timeframe decline are there,… Source link