Bitcoin Price Breaks $9,000, Does Not Stay For Long March 20: the Bitcoin (BTC) price broke the $9,000 mark today after a rough start to the year in which the price decreased by nearly 70 percent from the December high of $20,000. Following the December high the BTC price has moved downward in fits and starts. On January 17, BTC price was down to $9,724, less than half of where it had been a month previously when it scraped the…
Bitcoin Following Nasdaq Path but 15 Times Faster Morgan Stanley put out a note to its clients on Monday the 19th breaking down Bitcoin trading in comparison to the Nasdaq during the dot-com crash 20 years ago. Bitcoin Similar to Dot-Coms Through Bear Markets According to the report, Bitcoin is behaving very similar to the way the Nasdaq did in 2000. There is parity in the pattern of price declines and the rally of 250 -280 percent “in their most…
Bitcoin Price Surges 10% as G20 Will Not Crackdown on Cryptocurrencies The G20’s announcement that it will pivot away from creating new regulations in favor of examining existing rules gave the cryptocurrency market a much needed seeing Bitcoin surge by $1000. No New Regulations The anticipation of what new regulations might come of the G20 meeting this week in Buenos Aires added to a rocky cryptocurrency market over the past week but the news as reported by Reuters is…
Bitcoin Price Analysis – How Low Can It Go? Bitcoin is showing more bearish momentum so it's time to look at the next downside targets. Bitcoin looks ready for more losses as price gained downside traction after its break below a double top neckline. Applying the Fibonacci extension tool on the latest correction shows the potential targets. Price is currently sitting on the 38.2% extension near the $8000 level at the moment, and a break lower could take it to…
Bitcoin Is Melting, Again Summary After an unsuccessful attempt at the $12,000 resistance level, Bitcoin is melting down once again, slumping by 30% in just a few days. A few distinct developments caused the recent selloff to intensify. People seem to be "Bitcoined out" a bit at the moment, which could cause the price to stay below $10K for some time. It's not all bad news, but in the short term it could get painful for Bitcoin and the rest…
Bitcoin Drops 20% But Wasn't Week's Big Crypto Price Loser If February was bad for the crypto market, March hasn't fared better. Bitcoin's (BTC) repeated failure to beat inverse head-and-shoulders neckline resistance saw bears come in full force, pushing prices to a one-month low of $8,371 Friday. As of writing, the world's largest cryptocurrency by market capitalization is trading at $8,970, according to CoinDesk's Bitcoin Price Index. But the 28 percent drop from BTC's March 5 high of $11,660 had…
Bitcoin prices fall below $9,000 — a 24% decline for the week Bitcoin fell below $9,000 during Friday afternoon Asia trade, extending losses seen earlier in the week when it fell below the key $10,000 level. The digital currency came under pressure earlier in the week after the U.S. Securities and Exchange Commission said exchanges that offered trading of "digital assets that are securities" would have to register with the agency. At its current levels, bitcoin has declined around 24…
Bitcoin Takes a Dip as SEC Demands Exchanges to Register In the ongoing saga of how U.S. regulators will ultimately handle cryptocurrency the SEC yesterday said it will require digital asset exchanges to register causing Bitcoin to dip below $10,000. Cryptocurrency Defined as Securities The SEC released a statement that said online platforms trading in digital assets are considered securities under existing guidelines and therefore must register with the agency. The SEC statement reads as follows. “If…
North Korea may have as made much as $200 million from Bitcoin, according to expert North Korea may have raked in more than $200 million in digital cryptocurrency transactions last year, diluting the impact of stiff international sanctions over its nuclear and missiles programme. The huge haul of an estimated 11,000 Bitcoins was revealed by Priscilla Moriuchi, a former US National Security Agency officer, in an interview with Radio Free Asia. If the regime had monetised them when their price…
Two Bullish Signs For Bitcoin After a prolonged correction, Bitcoin is back big time. The “people’s currency” gained close to 7% this week, stabilizing around the $11,000 mark. Is this comeback for real? Hard to say, as there are hardly any “fundamentals” to judge whether Bitcoin is undervalued or overvalued at these levels. Still, there are a couple of bullish signs for the digital currency worth noticing. One of them is that Bitcoin is beginning to behave like the ‘new…