Bitcoin Price Drops $380; Ethereum, Ripple (XRP) Plunge 9%

Cryptocurrency analysts had predicted that the bitcoin price was about to break away from its $6,550 peg, and those predictions came true early Thursday morning. Unfortunately for investors, though, this movement did not occur to the upside. After briefly making a push toward $6,700 earlier in the week, the bitcoin price was holding steady between …

Mixed Signals Arising. When Moon?

Bitcoin price continues to move side-ways and there isn’t much volume coming into cryptocurrency. There are some catalysts that could potentially kick-start another bull-run, however, uncertainty is an important characteristic of any market; it becomes quite hard to predict the best time-frame to put some fresh cash into cryptocurrency. My non-professional advise? Don’t try to …

Various Technical Indicators are Showing Bitcoin is Severely Oversold

Williams %R, a technical analysis oscillator that demonstrates oversold or overbought conditions of an asset, is demonstrating highly oversold conditions for Bitcoin. As Olga Kharif at Bloomberg reported, the Williams Percent Range (WPR) of Bitcoin is hovering at around -83 percent. In WPR, -80 to -100 percent is considered oversold and -0 to -20 percent …

Bitcoin Price Should Stabilize Near $5,000: Allianz Chief Economist

It is not terribly common for a mainstream economist to say something good about bitcoin in the period of its downtrend, but Mohamad El-Erian once again made an exception. Cryptocurrency’s Not Going Away The Allianz chief economic advisor said in an interview that cryptocurrencies are not dead, though they may be overvalued. He specifically mentioned …

Market Recovers After Drop, WaltonChain Surges 30%

In the past 24 hours, the Bitcoin price has recovered from $6,800 to $7,000, as buy pressure in the higher region of $6,000 prevented a further fall to mid-$6,000. As bitcoin price rebounded and averted a large drop to $6,500, most tokens and small market cap cryptocurrencies recovered, pushing the valuation of the cryptocurrency market …

‘Game Over’ for Bitcoin, Claims Bearish Technical Analyst

If the bitcoin price falls below the important year-to-date support level, the dominant cryptocurrency will suffer irreparable damage in the marketplace. This is the opinion of Renaissance Macro Research, quoted by CNBC on Thursday Aug. 9. Bitcoin May Be ‘Permanently Impaired’ According to the financial analysis firm, what bitcoin is facing right now could be …

What Experts Think about a Possible Bitcoin ETF

Since 2017, SEC has turned down at least three bitcoin ETF applications (including the Winklevoss twins on two occasions) from different groups citing specific reasons for such denials. This has not stopped the surfacing of new applications. Just last month three groups that have been turned down before (CBOE, VanEcK and SolidX) returned with revised …

Bitcoin Price Moved by ‘Silent Majority,’ Not Twitter ‘Thought Leaders’

The louder they are, the less influence they have. This seems to be the conclusion drawn by Feng Mai, a researcher at the New Jersey-based Stevens Institute of Technology, after conducting a study investigating the influence of social media on the bitcoin price. According to Mai the comments and tweets of social media users considered …