Bitcoin’s sharp fall from $50K linked to stronger US dollar, gold — Correlation shows
Bitcoin (BTC) and spot gold hovered below their key psychological levels on Wednesday as a stronger United States dollar weighed on investors’ appetite for hedging assets. The BTC/USD exchange rate dropped 5.27% to its intraday low of $44,423 but recovered a portion of those losses after reclaiming the $45,000–46,000 range as support. The pair’s recovery […]
Bitcoin weekly outlook: Why a $50K-retest is likely ahead of Friday's US jobs data
The heavy selling in the U.S. dollar market at the end of last week assisted Bitcoin (BTC) to climb above $49,000. However, BTC struggled to extend its climb above $50,000, a psychological resistance level, as investors remained cautious about the Federal Reserve’s taper timing. Bitcoin corrects after logging its week-to-date high of $49,667. Source: TradingView.com […]
Bitcoin fractal that predicted 2020 rally flashes again as BTC price reclaims $40K
A crossover between two Bitcoin (BTC) moving averages that appeared before the 2020 price boom is hinting at making a return in 2021, just as the flagship cryptocurrency eyes a bullish breakout from its current $30,000–$40,000 trading range. The indicators in focus are the MACD Line and Signal Line. MACD is an acronym for Moving […]
3 on-chain indicators suggest the Bitcoin price sell-off is losing steam
Bitcoin (BTC) entered a consolidation phase following its May 19 crash from $42,600 to $30,000 on Coinbase. The flagship cryptocurrency recovered its losses quickly and reclaimed $40,000 but it failed to log a clear bullish breakout above this resistance level and at the time of writing the price remains pinned below $40,000. The latest price […]
Bitcoin can still drop to $20K but holding remains winning strategy, data shows
Unloading Bitcoin (BTC) spot positions when it starts crashing violently upon forming its all-time highs is a bad investment call, at least according to its historical price action. The flagship cryptocurrency’s eleven-year lifetime has seen it undergoing many bullish and bearish cycles. The BTC/USD exchange rate typically rises parabolically. It later trims more than half […]
Bitcoin price nears $55K as fund manager ‘still sees $100K’ in 2021
Bitcoin (BTC) is still on course to hit $100,000 this year and its recent dip is “unchanged price action.” That was the conclusion of one of the industry’s best-known investors as BTC/USD recovered from its trip to near $46,000. Tapiero eyes “very rare buy signal” for Bitcoin… In a tweet on April 27, Dan Tapiero, […]
25% of UK investors would’ve made £1 million by going all-in on BTC in 2020: Survey
New research from U.K. think tank Parliament Street revealed that 25% of British investors estimate they would have made £1 million or more ($1.39 million) in profit by investing all their wealth in Bitcoin at the start of 2020. The survey “The Great Cryptocurrency Report” polled 2,000 British investors about their confidence in crypto and […]