Bitcoin Price Analysis: Bitcoin Tests Boundary Support as Demand Weakens

Following last Friday’s drop, bitcoin has found itself coiled, once again, at the bottom of the range it established back in December. With the current market unable to close a new high, the market finds itself in a precarious position: Figure 1: BTC-USD, Daily Candles, Range Support Test The blue support level shown above illustrates the boundary of the multi-week range bitcoin has been bound by. At the time of this article, the market is testing the support level but has yet to close and continue below. We did see…

2019 a Year of Accumulation For Bitcoin, Recovery by Year’s End

Bitcoin could see a recovery by the end of 2019. | Source: Shutterstock In the past 24 hours, the crypto market has recovered from $120 to $123 billion as the Bitcoin price avoided a further drop below the $3,600 mark. The bitcoin price avoided a further drop below $3,600. Ethereum has also been able to rebound relatively quickly from the delay of the Constantinople hard fork, which initially caused a 10 percent drop from $130 to $116. Slow Grind Up For Bitcoin Expected in 2019 Due to the intensity of…

Bittrex Launches Over-the-Counter Trading Platform for Bitcoin, Crypto

Major cryptocurrency exchange Bittrex will launch an over-the-counter (OTC) trading desk today, January 14, 2018, by 18:00 UTC. The service will allow investors to trade nearly 200 digital assets currently offered on the Bittrex trading platform. OTC trading is popular with institutional investors who trade in large volumes of cryptocurrencies. This form of crypto trading happens between two parties, and it takes place away from the exchanges. OTC trades are often handled via brokers, who offer high-volume traders a trading desk to execute large trades with a faster settlement and…

Following $5 Billion Drop in Crypto, Traders See Weakness in Bitcoin

On January 13, the crypto market initiated an intense sell-off as the Bitcoin price fell below the $3,500 mark. The weakness in the short-term price trend of BTC led the market to demonstrate volatility on the downside. More than $5 billion was wiped out of the crypto market and major assets like Ethereum recorded a six percent drop. Where is Bitcoin Headed? Generally, both analysts and traders expect Bitcoin to fall to the low $3,000 region in the days to come. Some have suggested that a strong buy wall below…

Tim Draper Made $89M+ From His Bitcoin Investment in 5 Years

Billionaire venture capital investor Tim Draper has made $89.1 million from his Bitcoin investment in less than five years. In 2014, Tim Draper purchased a bulk of 30,000 BTC from the U.S. authorities in an auction. He outbid all participating investors by paying $632 per Bitcoin, with a slight premium. The $18.96 million he spent in 2014 is now worth $108 million despite the 80 percent correction the dominant cryptocurrency experienced in the past 12 months. Money Makes Money: Bitcoin is a Prime Example Vinny Lingham Previously, as CCN reported,…

CoinShares CSO: SEC Unlikely To Approve Bitcoin ETF, Crypto Concerns Remain

Although the regulatory status of Bitcoin exchange-traded funds (ETF) remains up in the air, talk on this subject matter has picked up heading into 2019. On one hand, there are an array of optimists claiming that 2019 will be the year of cryptocurrency-backed ETFs. On the other hand, there are cynics who believe it is too earlier for the crypto market to handle such an investment vehicle. Interestingly, a number of guests onto technology entrepreneur Ran NeuNer’s recent installment of CNBC Africa’s “Crypto Trader” claimed that they don’t expect for…

Bitcoin Price Analysis: Strong Impulse Tests Macro Support Levels

Finally, after about a week or so of a tight, range-bound market, bitcoin poked right through support. This swift move dropped the price nearly 10% in the span of just a few short hours: Figure 1: BTC-USD, Hourly Candles, 11% Drop Not only did this move occur on high spread, it occured on high volume. This level of supply and overall lack of demand is nothing something you would want to see if you are feeling bullish regarding bitcoin’s market structure. Currently, we are sitting right on top of daily…

Bitcoin Price Will Tank Below $3,000, Says Trader Who Predicts Sell-Off

The bitcoin price will crater below $3,000 amid a mass sell-off. That’s what futures trader Anthony Grisanti predicts about the ongoing Crypto Winter. “I’m looking for a move down to $3,000, which would represent a real weakness in this market,” Grisanti told CNBC. “It could be the driver that gets people to bail out of this and push it even lower.” Trader: ‘People are Liquidating Their Positions’ Grisanti is a CNBC analyst who previously traded energy futures at Bear Stearns. Like other crypto bears, Grisanti believes it’s only a matter of time before…

Bitcoin Price Dangerously Close to ‘GTFO’ Level: Analyst Mark Dow

For most of 2019, bitcoin and the wider cryptocurrency market rode a bullish wave, as a reduction in short-selling allowed prices to creep higher. However, on Thursday the bitcoin price crashed below the $4,000 mark, and now one prominent trader warns that it is dangerously close to approaching a level where even bulls need to “GTFO.” Mark Dow Sounds the Alarm on Bitcoin That trader is Mark Dow, a former IMF economist who famously shorted the bitcoin price from near its all-time high in 2017 to below $3,750. The bitcoin…

Bitcoin is a ‘Fad,’ But Even NASA is Investing in Blockchain

Bitcoin birthed the concept of blockchain technology, and now even organizations as technologically advanced as NASA are considering its benefits. Yet cryptocurrency is often described as a fad, a bubble, and even worthless. NASA Eyes Hyperledger Blockchain for Air Traffic Management Ronald J. Reisman, an aero-computer engineer at the NASA Ames Research Center, has put forward blockchain to solve issues of privacy and the prevention of spoofing, denial of service, and other attacks. He says a new system due for implementation in 2020, the Automatic Dependent Surveillance-Broadcast (ADS-B), does not…