Bitcoin Could Shed 20% & Drop to $7,400 Because Bulls Look Exhausted

Bitcoin’s impressive parabolic run may have come to its conclusion. On July 11, we warned investors that the No. 1 cryptocurrency would falter to $9,000 as it flailed overheated signals. At the time, bitcoin was bouncing and market participants were expecting a new 2019 high as the market threatened to breach resistance of $12,000. However, the cryptocurrency lost its bullish steam and it is now trading at approximately $9,700. As bitcoin continues to show signs of weakness, it could drop by another 20 percent, approximately. The price could even hit…

The Bitcoin Price Surged Because Mnuchin Made This Crucial Remark

The bitcoin price surged to an intraday high on Monday after US Treasury Secretary Steven Mnuchin made a crucial comment during his surprise press conference on cryptocurrency regulation. Bitcoin Price Shoots to Daily High During Mnuchin Press Conference The flagship cryptocurrency, which traded down after Mnuchin referred to it as a “national security issue,” suddenly shot higher midway through a question-and-answer session when a reporter asked him what he believed was driving its mammoth price increase. The bitcoin price exploded higher midway through US Treasury Secretary Steven Mnuchin’s press conference.…

Crypto Trader Screams Bullish Green Bitcoin Price in July

Bitcoin is having a mixed July so far. The price of the flagship cryptocurrency has hit a slump of late after beginning the month on a solid footing thanks to President Trump’s latest tirade and the aspersions being cast on Facebook’s Libra cryptocurrency. But despite the recent dip in bitcoin prices, one trader still believes that the cryptocurrency could end July at $16,000. BITCOIN Targeting $16000 within July. – #BTCUSD chart https://t.co/InjL0qdgEX — TradingShot (@TradingShot) July 10, 2019 An aggressive bull cycle could push bitcoin prices higher TradingShot is a…

Bitcoin Bull on ‘Junk’ Altcoins: ‘2017 Was a One-Off, We Were Clueless’

As crypto analysts pontificate that the so-called “altseaon” will soon arrive, bitcoin podcaster Peter McCormack has a simple message: Don’t hold your breath. The “What Bitcoin Did” host went on a Twitter rampage this week to advance the notion that bitcoin will obliterate the rest of the crypto market, leaving a trail of altcoin bagholders in its wake. The series of altcoin-hating tweets began with a shot at bitcoin’s top rival, ethereum. If you own more ETH than Bitcoin, you’re wrong. — Peter McCormack (@PeterMcCormack) July 9, 2019 It appears…

Here’s Why Bitcoin Price Cratered After Smashing Beyond $13,000

Bitcoin was about to break out to a new high on Wednesday at $13,200, but then suddenly sold off 10 percent in about 90 minutes. What was behind this sudden sell-off? What Goes Up Must Come Down There is a fundamental rule in physics known as gravity. What goes up must come down. There is a corollary to this principle in the securities markets. Securities that rise in a parabolic fashion will fall in a parabolic fashion, and it will be even worse when it comes to bitcoin. The reason…

Bitcoin’s Stunning Growth Makes it Investable: Legendary Hedge Fund Mgr

Mark Mobius, an emerging markets fund manager and the founder of Mobius Capital Partners, said that if bitcoin continues to grow at the current rate, he would consider investing in the dominant crypto asset. Earlier this month, Mobius said that every portfolio needs to hold ten percent of gold to hedge against the global economy and the performance of the equities market. Is bitcoin as a store of value narrative strengthening? On Bloomberg Daybreak: Middle East, Mobius said that despite the presence of geopolitical risks as a result of the…

Cornell Professor Reopens Scaling Debate With Bitcoin Critique

One of the known security vulnerabilities in cryptocurrency is the human being and his or her capacity for foolish acts. If a transaction hasn’t cleared at least once on any blockchain, including Bitcoin, it’s not secure. No Means No in Blockchain Confirmations On faster blockchains like Tron or EOS, you can wait even longer. The point isn’t always to be sure the transaction is legitimate. Sometimes it’s to be sure you received it on the right chain. Earlier this year, CCN reported on a string of bitcoin ATM robberies in…

Bitcoin Price Recovery Banishes Slump as Momentum Tests $12,000

On strictly regulated crypto exchanges such as Coinbase, the bitcoin price fell to $9,700 on July 2, recording a 30 percent drop from its yearly peak at $13,868 achieved in late June. In the past two days, within a 48-hour span, the bitcoin price has shown rapid recovery from $9,700 to $11,800, demonstrating a four percent gain on the day against the U.S. dollar. What is fueling the momentum of bitcoin? According to Holger Zschaepitz, a financial analyst at Welt, the bitcoin price has closely resembled the performance of gold…

Bitcoin Price Recovers 20% to Break $11,000; Pullback Done, Huge Rally Next?

Within a week, from June 26 to July 2, the bitcoin price fell from $13,868 to $9,651, recording a 30 percent pullback against the U.S. dollar. Technical analysts have expressed optimism towards the swift recovery of bitcoin from a large pullback as the dominant crypto asset has shown a change in trend within a short time frame. A big pullback for bitcoin is often followed by a rally According to Josh Rager, a cryptocurrency technical analyst, when the bitcoin price experiences a steep correction, it is often followed by a…

Bitcoin Price Sharp Drops 30% from 2019 High to Land Near $9,700

Since June 23, within a two-week span, the bitcoin price fell from $13,868 to $9,711, demonstrating a sharp correction of nearly 30 percent. The “Real 10” volume of bitcoin, which refers to the total verifiable volume of the dominant crypto asset taken from ten exchanges verified to have real volume above $1 million by Bitwise Asset Management, remains above $2.9 billion, a high figure compared to March. In March, the Real 10 volume was hovering at $300 million with the majority coming from the CME bitcoin futures market and Binance.…