Bitcoin

“We haven’t had a meaningful bounce since we broke below $40,000, just a slow grind up,” said Laurent Kssis, a director of crypto-trading advisory firm CEC Capital. “This doesn’t feel that great given no real support has been established, although, on the positive side, this structure is completely the norm for higher timeframe bottom formations.” Source link

Bitcoin has mirrored the sharp fluctuations in traditional markets this year, highlighting the tightening link between cryptocurrencies and mainstream financial assets as more professional traders enter the digital finance arena. The world’s biggest cryptocurrency is increasingly tracking the movements of assets that exert influence across other global markets. Correlations with US tech stocks, crude oil and government bonds have all risen significantly over the past two years,… Source link

Text size Bitcoin has recently shown itself to be correlated with other risk assets, like high-growth stocks. Rutmer Visser/Dreamstime … Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of… Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of… Source link

Bitcoin bounced back above $37,000 Tuesday a day after plunging to its lowest level since July in a wild start to the week. However, the cryptocurrency still lost almost half of its value from its all-time high in November, promoting some investors to question if the recovery is short-lived and will be followed by a further downtrend. Bitcoin BTCUSD, +0.37% is trading at around $36,542. “I think we are going through a cyclical downturn. And this… Source link

The new year has been upon us for less than a month, but the Great Crypto Crash of 2022 has already caused a lot of investors pain. The risk aversion dogging Wall Street has infected cryptocurrencies, resulting in a dramatic sell-off in digital coins that yanked Bitcoin (BTC-USD) below $34,000. While the token recouped some of those losses, most analysts think there’s more downside left to probe, especially with crypto’s growing correlation with other risk-on assets. Like stocks, Bitcoin’s… Source link

Analysts love to issue price predictions and it seems that nine out of 10 times they are wrong. For example, how many times did analysts say “we will never see Bitcoin back at X price again,” only to see it plunge well below that level a few months later?  It doesn’t matter how experienced a person is or how connected in the industry. Bitcoin’s (BTC) 55% volatility must be taken seriously and the impact this has on altcoins is usually stronger during capitulation-like movements. I was… Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of… Source link

Last November, when cryptocurrency was skyrocketing to new heights and Bitcoin was one of the red-hot financial vehicles of 2021, the mobile payment service Cash App grabbed some trending headlines through partnerships with two headlining NFL names: Green Bay Packers quarterback Aaron Rodgers and Los Angeles Rams wideout Odell Beckham Jr. The significance: Both players endorsed Bitcoin and announced plans to take portions of their 2021 salaries in the cryptocurrency during a month when… Source link