Bitcoin Flexes Its Muscle, Reclaims $11,000 in Abbreviated Weekend Rally

Seemingly out of nowhere, the bitcoin price rocketed past the psychologically important $11,000 level this weekend. No doubt traders are getting whiplash from the dramatic swings, as the range-bound BTC then pulled back to just over $10,900. The bitcoin price is off its best levels of the day. | Source: TradingView Not too long ago, Galaxy Digital CEO Michael Novogratz predicted that BTC would be range-bound for a while, suggesting the market would hover between $10,000 and $14,000, which it has. Now he is offering another bit of advice to investors…

Short of Target: Bitcoin’s $1K Rally Still Leaves Bear Bias Intact

View Bitcoin’s short-term outlook will remain bearish as long as prices remain below $11,080 resistance. A break above that level would invalidate bearish lower-highs setup. The bulls may have a tough time forcing a break above $11,080 amid news of BitMEX exchange facing a regulatory probe and talks of harsher crypto regulation. Prices could drop below $10,000 in the next 24 hours with daily chart indicators continuing to report bearish bias. A weekly close (Sunday, UTC) above $12,000 is needed to revive the bullish view. Bitcoin (BTC) has rallied sharply…

Major Altcoins Rally as Bitcoin Sees Slight Gains

Wednesday, July 17— The number one cryptocurrency Bitcoin (BTC) is seeing slight gains on the day as major altcoins (ETH) and Ripple (XRP) rally. Market visualization. Source: Coin360 Bitcoin has been trending down this week. Bitcoin retook $13,000 on July 9 before sinking all the way down to under $10,000 by July 16. At press time, BTC is trading just over $9,800 with a 2.64% gain on the day. On July 4, analysts at SFOX conjectured that Bitcoin could rally in light of the American national holiday Independence Day, arguing…

Crypto Market And Bitcoin Starts Fresh Rally: BCH, BNB, EOS, TRX Analysis

The total crypto market cap jumped sharply and broke the key $325.0B resistance area. Bitcoin price is up more than 10% and it recently broke the $12,500 resistance level. EOS price is showing positive signs and it recently broke the $6.00 resistance area. Binance Coin (BNB) broke the $33.00 resistance and it is currently consolidating in a range. BCH price is up more than 4% and it broke the $420 and $425 resistance levels. Tron (TRX) price is currently correcting yesterday’s gains, but remains supported near $0.0330 Bitcoin and the…

Should Bitcoin Bulls Fear Gold’s Unexpected Rally?

Gold has been rallying alongside bitcoin the past few months, and with this move in gold, there has been an increase in traffic at precious metals sellers as consumers unload expensive watches and precious metals. What does this signify for bitcoin, if anything? Why the Gold Rally? The gold and Bitcoin prices have both rallied in 2019. | Source: TradingView Pawnshops have existed for centuries. Stores that specialize in buying gold cropped up during the financial crisis. With unemployment soaring and gold pushing $2,000 per ounce, citizens across the country…

Bitcoin (BTC) Price Rally And Recent Influx of USD Directly Correlate

Bitcoin (BTC) adds 8.1 percent USDT minting correlates with USD expansion says, Jesse Powell Kraken CEO, Jesse Powell, is confident that there is no link between BTC prices and USDT minting. At the time of press, BTC is up 8.1 percent in the last day. Bitcoin Price Analysis Fundamentals Differentiating between “true demand” and speculation is hard. Critics are adamant that crypto assets are speculative and highly volatile. Although Bitcoin can be a perfect hedge against faltering traditional asset and increasingly embraced by fund managers, rapid price changes present a…

Bitcoin Price Recovers 20% to Break $11,000; Pullback Done, Huge Rally Next?

Within a week, from June 26 to July 2, the bitcoin price fell from $13,868 to $9,651, recording a 30 percent pullback against the U.S. dollar. Technical analysts have expressed optimism towards the swift recovery of bitcoin from a large pullback as the dominant crypto asset has shown a change in trend within a short time frame. A big pullback for bitcoin is often followed by a rally According to Josh Rager, a cryptocurrency technical analyst, when the bitcoin price experiences a steep correction, it is often followed by a…

Crypto Market Up $20 Billion Post Bitcoin Rally: BCH, LTC, EOS, ADA Analysis

The total crypto market cap found support near the $270.0B level and recently recovered. Bitcoin price rallied more than 8% and recovered above the $11,000 resistance area. Litecoin (LTC) price is currently above $120, but facing resistances near $122 and $124. BCH price is stable above the $400 level and it is slowly moving towards the $420 resistance. EOS price is likely to trade above the key $6.000 resistance area in the near term. Cardano (ADA) price is currently consolidating above the $0.0820 support area. The crypto market cap recovered…

Hedge Funds Behind Bitcoin Explosive Price Rally, Say Experts

For a market that prides itself for being decentralized, bitcoin appears to be a lot in control of a few players only. The first and the foremost cryptocurrency registered an explosive growth in the first half of 2019. As of today 16:31 UTC, bitcoin was trading 177 percent higher from the year’s opening rate of $3,691.87, which is exponentially higher than what the benchmark S&P 500 Index and Gold returned. But, as the latest issue of FN London describes, the bitcoin price rally could have been driven mainly by crypto-focused…

Bitcoin Price Rally Fizzles after Most-Bullish Quarter since 2017

The price of bitcoin (BTC) is going down despite registering its most incredible quarter performance since December 2017. The BTC-to-dollar instrument was trading at $10,875 on Monday, 07:50 UTC, down more than 8.5 percent on a 24-hour adjusted timeframe. The move downhill dragged the bitcoin’s market capitalization close to $193.41 billion. At its highest, the cap was $313.82 billion. Bitcoin price has been soaring in 2019. | Source: TradingView Over the past five days, the bitcoin price has witnessed a sharp decline of more than 21 percent from its 2019 high.…