Bitcoin

The cryptocurrency market got off to a slow start on Aug. 19 after stimulus tapering talks from the U.S. Federal Reserve put pressure on global financial markets, but momentum within the crypto market picked up in the afternoon session as Bitcoin (BTC) bulls finally managed to break above the $46,000 level.  While most altcoins were slow to warm up on Thursday, several altcoins led the way with gains in excess of 20% due to major protocol upgrades and exchange listings. Top 7 coins with the… Source link

In the past 7 days, Bitcoin (BTC) failed to break through the $48,000 resistance, but the price remained flat even as Minneapolis Federal Reserve chairman Neel Kashkari bashed the industry.  During an appearance at the Pacific NorthWest Economic Region annual summit on August 17, Kashkari said: “So far what I’ve seen is…95% fraud, hype, noise and confusion.” Moreover, according to Yahoo Finance, Kashkari specifically targeted Bitcoin when he mentioned that its only use case has been funding… Source link

Bitcoin (BTC) neared a critical breakout point on Aug. 19 as bulls sought to transform this week’s downtrend into a battle for resistance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Buyers and sellers close in on BTC Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it repassed $45,000 on Thursday, climbing to highs of $45,490 on Bits The move came on the back of United States bank Wells Fargo revealing that it had partnered with NYDIG to launch a Bitcoin… Source link

Bitcoin (BTC) is facing a “double bubble” and will see two price tops this year, fresh data suggests. In a tweet on Wednesday, Charles Edwards, CEO of investment firm Capriole, highlighted 2021 as having one key similarity to the 2013 double top bull cycle. Bitcoin gears up for second peak Bitcoin has divided opinions over whether its 2021 bull run is more like 2013 or 2017 — the other two years th immediately followed block subsidy halving events. If to look at one metric, unrealized… Source link

This week marks 50 years since President Richard Nixon announced the US would abandon the Gold Standard. Instead of redeeming the dollar in gold, the government allowed its value to float freely on the market. So began a sharp devaluation of the world’s reserve currency of choice under the US-led Bretton Woods system. Priced in gold, the dollar has lost more than 90 per cent of its value since the Nixon shock. Meanwhile the British pound has lost over 40 per cent of its… Source link

Bitcoin is roughly flat over the past 24 hours as short-term momentum fades. The past few days have been relatively quiet in the crypto market, which typically precedes periods of higher volatility. Some analysts expect crypto prices to consolidate, albeit with the continued relative outperformance of altcoins such as ether and cardano.  Bitcoin, the world’s largest cryptocurrency by market cap, was trading at around $45,400 at press time and is up 55% year to date, compared with a 19%… Source link

Bitcoin, the world’s No. 1 crypto and the genesis of the current revolution in digital assets may one day bow down to a new king of the sector, speculates a researcher. “Ethereum will continue to outperform Bitcoin in 2021 and will, ultimately, exceed its rival’s value,” wrote Nigel Green, chief executive and founder of deVere Group, a large financial advisory firm and asset manager, in a Wednesday note. Green makes the case that bitcoin … Source link

A Bitcoin (BTC) mining indicator that has preceded several major BTC price rallies is flashing again. Blockchain analytics platform Glassnode spotted a golden cross between the 30-day and 60-day moving averages of Bitcoin’s hash ribbon. In theory, such a crossover indicates that the price momentum is switching from negative to positive. Bitcoin hash ribbons. Source: Glassnode Hash ribbons are based on Bitcoin’s network hash rate behavior and are designed to tell investors when the price is… Source link

Bitcoin (BTC) fell to test $44,000 on Aug. 18 with traders still bullish on new all-time highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Eyes on $42,000 for higher low Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local lows of $44,215 on Bitstamp overnight. A continuation of consolidation seen on Tuesday, the latest dip marks a $3,800 comedown after Bitcoin saw rejection at $48,000 several days ago. This was expected — seller pressure from that… Source link

Cryptocurrencies were mostly lower on Tuesday as declining volume suggests a pullback is near. Bitcoin was trading around $45,418 at press time and is down about 1.6% over the past 24 hours.  Some analysts are optimistic about the long-term recovery in crypto prices, although the pace of the upside will likely slow over the short term.   “While many of the technical and on-chain indicators confirm this rebound’s strength, it may still be early to say we are out of the woods,” Nathan… Source link