Analyst Willy Woo Says Bears Still Have the Upper Hand

The Bitcoin price dropped almost 80% over the year, dragging the crypto market with it. Short-term bulls believe the market could be ripe for a bullish run. They cite the steady increase in Bitcoin’s trade volumes and transaction rate. Researcher and cryptocurrency analyst Willy Woo believes this might not be the case. In a set of tweets, Woo argues that the on-chain volumes are just too little for a sustained run. He cites volatility as a reason for the increased on-chain volume seen in recent weeks. “The initial volume spike false…

Why Bitcoin Bubble Bursting is Good for Entire Crypto Space

Even the most ardent crypto evangelist must admit that bitcoin appears to have been the worst investment of 2018, at least in pure dollar terms. The cryptocurrency has lost almost 80 percent of its market capitalization since it established an all-time high at around $327.15 billion. The adoption rate and volume have dropped likewise. Organizations that were planning to launch their bitcoin-based services have delayed their projects or scrapped them entirely. As any seasoned trader would say, the bitcoin bubble is bursting — or has burst already. The Anatomy of…

Bitcoin is a ‘Black Box’ — I Won’t Invest in it: Analyst Gary Shilling

Renowned investor Gary Shilling believes Bitcoin is a black box. And he prefers to stay away from it. Speaking to Business Insider, the American financial analyst admitted that the digital currency is too opaque and complicated for him to invest in — and he will not invest in anything that he does not fully understand. Shilling also clarified that while he had attempted to learn about bitcoin’s economic model, he eventually found that the asset is “not transparent,” primarily because its creator Satoshi Nakamoto remains unidentifiable. “I’m just very suspicious…

Bitcoin Price in Near-term Bias Conflict as $4,000-Resistance Teases

The bitcoin price consolidated this Thursday as $4,000-level continued to block the rally from a breakout attempt. The bitcoin-to-dollar exchange rate dropped as much as 5.36 percent of its value since its yesterday’s high at $3,971. The pair at press time is correcting higher on moderate volumes, up 0.71 percent from its intraday low at $3,758. The US dollar rate is posting minor losses owing to poor export data from the US markets. But its benefits are visibly going to the Japanese yen the most. Bitcoin is heading towards the…

Dow Downturn Shows Market is ‘Going into a Recession’: Gluskin Sheff

The Dow Jones Industrial Average and other major stock market indices have posted steep declines during the second trading day of 2019, extending a downturn that saw them post their worst December returns since 2008. According to the top economist at Canadian wealth management firm Gluskin Sheff, these losses may have only been the beginning. Rosenberg: ‘More Than 80 Percent Chance of Recession’ Following Dow Plunge Speaking during an interview on CNBC’s “Trading Nation,” David Rosenberg, Gluskin Sheff’s chief economist and strategist, said that he believes the recent stock market…

Bitcoin Closing in Towards $4,000-Resistance in Another Upside Attempt

The bitcoin price on Wednesday showed minor upside movements as it maintained the gains made during yesterday’s session. Bitcoin Price Technical Analysis The BTC/USD exchange rate posted as much as 1.5 percent in gains during the first half of the trading session. The pair notably eyed a rally towards $4,000 but corrected ahead of establishing the said upside target, eventually falling to $3,843, its value at the time of writing. BITCOIN 1D CHART | SOURCE: COINBASE, TRADINGVIEW.COM The price action also confirmed a firm price action similar to what market…

Bitcoin Up 7% and Ethereum Surges 19%, Good 2019 Start For Crypto

Over the last 48 hours, the Bitcoin price increased from $3,629 to $3,890, by more than seven percent. The Ethereum price has also surged by 19 percent since January 2 from $143 to $160, recording a substantial increase in value prior to its highly anticipated Constantinople hard fork. Not a Bad Year For Bitcoin Bitcoin ended 2018 with an 80 percent drop in its price from its all-time high at $19,500. However, Jameson Lopp, the chief technical officer at Casa and a former BitGo executive, has said based on several metrics,…

Bitcoin Price Celebrates New Year Inside an Interim Falling Channel

Bitcoin price on January 1st saw a minor decline of less than 1 percent against the US Dollar on a 24-hour adjusted timeframe. The digital currency, which established a weekly high towards $4,239 ahead of Christmas, corrected to as low as $3,561 on Coinbase in later days. It attempted a minor bull run on December 28 but fell just short of $4,000 in absence of adequate bullish sentiment and trading volume – probably because of the New Year break. The first day of the year is now seeing Bitcoin consolidating…

Bitcoin to End 2018 With 80% Drop, What Investors Can Expect in 2019

Following one of its biggest bull rallies in history to $19,500, Bitcoin (BTC) is set to end 2018 with an 80 percent drop from its all-time high. As Bitcoin enters 2019 with a bear market status having suffered a steep sell-off in December, what can investors expect in the first two quarters of 2019? Several Catalysts on the Horizon For Bitcoin In the first quarter of next year, Bakkt, a cryptocurrency liquidity provider and exchange operated by the New York Stock Exchange’s parent company ICE, is set to launch a…

Bitcoin Price Rally Loses Steam Near $4,000; Will 2019 Wake Bulls?

The Bitcoin price has spent the first day of this weekend struggling to get through the $4,000 mark. The digital currency attempted a bullish reversal on Friday, marking more than $300 worth of gains in just two hours. That hasn’t exactly changed any longer-term sentiments for the market, especially when it has dropped by more than 80% in 2018. But the intraday volatility has served plenty of opportunities to traders who wish to get in and out of the bitcoin market on decent profits. The bitcoin price is now sitting…