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“# Banning cryptocurrencies to counter crime is a nonsensical excuse ” Numerous governments are attempting to ban cryptocurrencies, with recent examples from China, India, Turkey and Nigeria. The reason for doing so is simple: The decentralized nature of cryptocurrencies poses a threat to the legacy financial system, and as the technology itself is still in…
“# 3 things traders are saying about Bitcoin and the state of the bull market ” Bitcoin’s (BTC) dip below $29,000 on June 22 rocked the markets a handful of analysts to call for a potential drop below $20,000. Many traders on crypto Twitter were focused on the formation of a death cross on the…
“# Data shows derivatives had little to do with Bitcoin’s drop to $29K ” After a brief recovery to $41,000 on June 14, Bitcoin (BTC) investors might have thought that the bear market was finally over. After all, it was the highest level since May 21 and the date that MicroStrategy (MSTR) announced a successful…
“# Price analysis 6/23: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC ” Bitcoin (BTC) dropped below $30,000 on June 22, which may be a final sign of capitulation. Data from Skew suggests that if Bitcoin’s price does not recover sharply in the next few days, the decline in the current quarter could…
“# Crypto market cap recovers $76B, altcoins rally after Bitcoin hits $34K ” Cryptocurrency traders received a reprieve from bearish market conditions on June 23 as Bitcoin’s (BTC) brief recovery to $34,880 triggered a rally in altcoins and hope that a wider market recovery will occur if the path laid out by the Wyckoff distribution model…
“# Senator Cynthia Lummis excited to buy the Bitcoin dip ” United States Senator Cynthia Lummis, a Republican from Wyoming, took advantage of a deeply discounted Bitcoin (BTC) price this week by adding to her holdings. In the wake of yet another major price correction for crypto assets, Lummis told Fox News Wednesday that she’s “excited…
“# Altcoins follow Bitcoin price’s lead as uncertainty grips crypto market ” Cryptocurrency investors all over the globe have been facing a challenging time for over a month thanks, in large part, to the unprecedented price drops that have happened across the board in relation to most prominent digital currencies available in the market. Since…
“# Bitcoin bounce from $28.8K activates century-old financial model’s bullish thesis ” A recent upswing in the price of Bitcoin (BTC) following a nail-biting price crash below $30,000 this Tuesday has activated a classic financial model’s bullish outlook on the cryptocurrency. Titled Wyckoff Method, created by Richard D. Wyckoff in 1888, the model attempts at navigating…
“# Bitcoin holds $34K as Bloomberg likens $30K support to $4K in 2020 BTC price crash ” Bitcoin (BTC) maintained $34,000 support on June 23 as a rebound from six-month lows showed surprising resilience. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin bulls see 2020 similarities Data from Cointelegraph Markets Pro and TradingView showed BTC/USD…
“# Bitmain reportedly suspends Bitcoin miner orders amid booming secondhand supply ” Chinese mining giant Bitmain is reportedly scrambling to respond to market conditions amid a major crackdown on the crypto mining activity by local authorities. According to a Wednesday report by Chinese news agency Sina Finance, Bitmain has halted global spot sales for its…