Bitcoin Price Watch: BTC/USD Trading Near Major Inflection Point

Key Points Bitcoin price declined further and traded below the $6,440 support against the US Dollar. Yesterday’s highlighted key bullish trend line with support at $6,445 was breached on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tested the next important support at $6,375 and later started consolidating losses. Bitcoin price failed to stay above the $6,440 support against the US Dollar. BTC/USD is currently consolidating above the $6,375 support with bearish moves. Bitcoin Price Analysis Recently, bitcoin price started a downside correction and traded…

In the Race for a Bitcoin ETF, Wall Street Has Plenty of Hurdles to Clear

In the latter half of 2018, few developments have occupied crypto investors’ headspaces like the industry’s indefatigable pursuit of a bitcoin exchange traded fund (ETF). This conversation lay largely dormant since the two brothers’ first attempt was rejected by the U.S. securities regulator in March of 2017. But the Winklevosses reignited the conversation when their second attempt at an ETF was shot down by the U.S. Securities and Exchange Commission (SEC) in July of this year.  With the buzz back, the prospect (or failing prospects) of a bitcoin ETF have…

Bitcoin Cash Price Analysis: BCH/USD Consolidating Near Key Support

Key Points Bitcoin cash price traded as high as $637 and later corrected lower against the US Dollar. There was a break below a key bullish trend line with support at $605 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently trading near a major support at $575 and the 100 hourly simple moving average. Bitcoin cash price started a downside correction from the $640 swing high against the US Dollar. BCH/USD is currently consolidating near $575 and it could bounce back. Bitcoin…

Bitcoin Cash Drops 5% as Crypto Market Retraces, Tokens Take a Hit

Twitter Facebook LinkedIn After demonstrating nearly a 50 percent gain within a three-day span, Bitcoin Cash dropped five percent of its value against the US dollar. The volume of Bitcoin Cash, which hovered at around $1.4 billion on November 6, has since dropped to $950 million, by 32 percent. Still, on a weekly basis, the volume of Bitcoin Cash is up from $750 million from $200 million. Ripple (XRP), EOS, and Stellar (XLM), three major cryptocurrencies that experienced fairly large gains against both Bitcoin and the US dollar, recorded a…

Why Bitcoin is Primed for a Christmas Surprise

Twitter Facebook LinkedIn Nearly 11 months into a bear market that has seen the bitcoin price take a two-thirds haircut from its all-time high, the flagship cryptocurrency could be on the verge of a year-end rally. Mati Greenspan, senior market analyst at eToro, has been watching for a bitcoin breakout for some time now, and he said in market commentary made available to CCN that there are early indications that cryptocurrencies will see a “Santa Claus rally” heading into the new year. “In traditional markets, it’s very common to see…

Crypto Exchanges Line Up to Support Bitcoin Cash’s Hard Fork

Six of the top 10 crypto exchanges by bitcoin cash (BCH) trading volume have announced plans to support the cryptocurrency’s upcoming hard fork on Nov 15. Bitcoin cash’s roadmap includes upgrades to its core code every six months, but disagreement over some changes to the network have raised the specter that two distinct branches of the cryptocurrency could take shape, given that two implementations – Bitcoin ABC and Bitcoin SV – are being put forward by competing teams. While the outcome isn’t clear, one scenario would see two separate cryptocurrencies arise…

Why An SEC Announcement Is What Stands Between Bitcoin (BTC) and a $7,200 Price Value

From the onset of this article, I would like to let the reader know that I am not a Technical Analysis expert. Any further opinion in this piece is based purely on fundamentals and observations. Therefore, looking at the performance of BTC since the expiration of last month’s CME Bitcoin Futures contracts on the 26th of October, we can easily tell that it has a price momentum of moving past the $6,600 level experienced by some traders only a few hours ago. Effect of BTC Futures Traditionally, whenever Bitcoin futures…

Novogratz Says Bitcoin Will See Record Highs in 2019

Twitter Facebook LinkedIn Mike Novogratz, the CEO of crypto investment firm Galaxy Digital, predicts that bitcoin will break out of its 2018 doldrums and soar to $20,000 in 2019 — fueled by a spike in institutional investments. The former Goldman Sachs investment banker says institutional “FOMO” (fear of missing out) will drive the market up over the coming months as cryptocurrency assets gain more mainstream acceptance and traditional finance players take the leap into crypto. Year-End Bitcoin Price Target: $8,800-$9,000 “Bitcoin has to take out $6,800, and after that we…

Only 19% Chance Bitcoin Price Breaches $10,000 by Q2 2019

Twitter Facebook LinkedIn A drop in the bitcoin price’s daily moves has lowered the market’s expectations of reclaiming a five-figure valuation anytime soon. Options Traders Not Bullish on Bitcoin Skew — a crypto analysis blog authored by two London-based derivative traders — claimed that bitcoin has only a 19 percent chance of breaching the $10,000-mark by June 2019. The report rested their analysis on the expected outcomes of bitcoin futures that are expiring by the third week of the last Q3 month, explaining that the volatility embedded in the price of…

No, Bitcoin Isn’t Secretly Messing with the Mid-Term Elections

Brian Forde most recently ran for U.S. Congress in California’s 45th district and was the founding Director of the Digital Currency Initiative at MIT. Previously, he was a Senior Tech Advisor in the Obama White House. On the eve of the most important election of our time, we’ve seen what misinformation gets us. Fear of the unknown, fear of change. In these times, we need to be vigilant about how we examine what’s new or different. Hundreds of articles have been written about campaign contributions made with cryptocurrencies — and…