Bitcoin Could Shed 20% & Drop to $7,400 Because Bulls Look Exhausted

Bitcoin’s impressive parabolic run may have come to its conclusion. On July 11, we warned investors that the No. 1 cryptocurrency would falter to $9,000 as it flailed overheated signals. At the time, bitcoin was bouncing and market participants were expecting a new 2019 high as the market threatened to breach resistance of $12,000. However, the cryptocurrency lost its bullish steam and it is now trading at approximately $9,700. As bitcoin continues to show signs of weakness, it could drop by another 20 percent, approximately. The price could even hit…

3 Reasons Why Bitcoin Price Could Nosedive Below $7,500 News

Bitcoin has suffered a significant setback after dropping in rates by approximately $2000 in the last 48 hours. The bitcoin-to-dollar exchange rate on Wednesday established a fresh lower low of $9,071, down 3.8 percent from the market open. The move downhill erased almost a quarter of bitcoin’s value in the last seven days, marking an end to a prolonged upside action that started during the first quarter of 2019. Bitcoin Price drops over $2000 in two days. | Source: TradingView The latest move the downside appeared after the head of…

Libra’s So Terrifying It’s Making Congress Suddenly Embrace Bitcoin

I never thought I’d see a high-ranking politician stand up and declare, “I like bitcoin.” But that’s exactly what just happened. House Minority Leader Kevin McCarthy practically sung bitcoin’s praises this week. How did we get here? How did we go from politicians ignoring and slamming bitcoin to embracing it?  The reason is Facebook. Lawmakers hate Facebook’s cryptocurrency Libra so much, bitcoin is actually starting to look good. As McCarthy explained, the decentralized blockchain’s open model is preferable to Facebook’s vice grip: “I want to see decentralization because Libra concerns…

The Bitcoin Price Surged Because Mnuchin Made This Crucial Remark

The bitcoin price surged to an intraday high on Monday after US Treasury Secretary Steven Mnuchin made a crucial comment during his surprise press conference on cryptocurrency regulation. Bitcoin Price Shoots to Daily High During Mnuchin Press Conference The flagship cryptocurrency, which traded down after Mnuchin referred to it as a “national security issue,” suddenly shot higher midway through a question-and-answer session when a reporter asked him what he believed was driving its mammoth price increase. The bitcoin price exploded higher midway through US Treasury Secretary Steven Mnuchin’s press conference.…

4-Figure BTC Screams ‘Buy’ as Bitcoin Price Falls Under $10,000

The Bitcoin price collapsed below $10,000 on Sunday night in yet another stormy weekend session for the world’s largest cryptocurrency. Bitcoin briefly hit $9909 on Coinbase, marking an 13 percent drop in 24 hours. The fall cements a strong 28 percent retracement from this year’s high. Technical indicators suggest BTC may still have room to fall in the short-term. In the long-term, however, this may be one of the last times we ever see bitcoin below $10,000. Said it once and will say it again 4 digit Bitcoin is a…

Crypto Trader Screams Bullish Green Bitcoin Price in July

Bitcoin is having a mixed July so far. The price of the flagship cryptocurrency has hit a slump of late after beginning the month on a solid footing thanks to President Trump’s latest tirade and the aspersions being cast on Facebook’s Libra cryptocurrency. But despite the recent dip in bitcoin prices, one trader still believes that the cryptocurrency could end July at $16,000. BITCOIN Targeting $16000 within July. – #BTCUSD chart https://t.co/InjL0qdgEX — TradingShot (@TradingShot) July 10, 2019 An aggressive bull cycle could push bitcoin prices higher TradingShot is a…

‘2017 Was a One-Off, We Were Clueless’

As crypto analysts pontificate that the so-called “altseaon” will soon arrive, bitcoin podcaster Peter McCormack has a simple message: Don’t hold your breath. The “What Bitcoin Did” host went on a Twitter rampage this week to advance the notion that bitcoin will obliterate the rest of the crypto market, leaving a trail of altcoin bagholders in its wake. The series of altcoin-hating tweets began with a shot at bitcoin’s top rival, ethereum. If you own more ETH than Bitcoin, you’re wrong. — Peter McCormack (@PeterMcCormack) July 9, 2019 It appears…

Warning! Bitcoin Could Spiral to $9,000 with Flailing Overheated Indicators

Bitcoin’s parabolic ascent looks unstoppable. Recently, every correction has been seen as an opportunity to buy heavily on dips. This week, the number one cryptocurrency is up by as much as 15 percent and it looks like bulls are gunning for the 2019 high of $13,868.44. The atmosphere is so bullish that CryptoTwitter is starting to feel euphoric. One cryptocurrency trader and investor that goes by the name Josh Rager shared an image of a majestic bull with a caption “$13k $BTC” to illustrate the strength of the uptrend. $13k…

Here’s Why Bitcoin Price Cratered After Smashing Beyond $13,000

Bitcoin was about to break out to a new high on Wednesday at $13,200, but then suddenly sold off 10 percent in about 90 minutes. What was behind this sudden sell-off? What Goes Up Must Come Down There is a fundamental rule in physics known as gravity. What goes up must come down. There is a corollary to this principle in the securities markets. Securities that rise in a parabolic fashion will fall in a parabolic fashion, and it will be even worse when it comes to bitcoin. The reason…

Bitcoin’s Clobbering Bank Stocks So Badly It’s Not Even Funny

According to data published by crypto research firm Messari, bitcoin has massively outperformed the largest banking stocks in the world over the past five years. In fact, the cryptocurrency is pummeling them so badly it’s not even funny anymore. They say a picture is worth a thousand words But this is worth 5: “Long bitcoin, short the bankers” pic.twitter.com/HI2DdO6ria — Jack Purdy (@jpurd17) July 10, 2019 JPMorgan, Bank of America, Deutsche Bank, Morgan Stanley, Citigroup, and Wells Fargo have recorded total returns in the range of -89 percent to -99…