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Bitcoin Price | Crypto Market Top Ten Green

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Bitcoin Price

Bitcoin Price

Where Bitcoin (BTC) goes, the rest of the crypto market tends to follow. And with the top ten in green, it stands to reason that Bitcoin price is also faring nicely. In fact, BTC price as of late has been giving investors food for thought.

The first three months of 2019 have seen the coin make double-digit gains and this marks its best quarterly performance since Q4 2017.

While 2018 saw the coin hit all-time-lows, 2019 has surprised somewhat.

Bitcoin Price

Today, Bitcoin price is up 1.29% and selling for $4,157.87 USD per coin. Mid last week saw the coin finally rise above the $4,000 resistance mark and it has maintained its stronghold above that mark—even hitting highs of $4,275 on Saturday.

The current price represents a 13% gain on January’s opening price of $3,693, according to Bitstamp data.

This is the first time Bitcoin has made a double-digit quarterly gain since the end of 2017 when prices rallied a 220.84%. While it is no way near those days—and Bitcoin has dropped about 80% in value since— the double-digit gain still gives bulls something to hold onto.

Binance Coin

Elsewhere on the market, other coins besides Bitcoin are also in the green, with Binance Coin (BNB) leading the pack. Currently, Binance Coin is up 4.59%, continuing a high from the news that it was the top performing crypto in the top 10 coins in Q1 2019.

BNB surged 185% during this period, jumping from $6.069 to $17.335, according to Messari. Now, BNB is trading at $18.03 USD per coin.

Stellar (XLM)

Stellar (XLM) is on the rise almost 3% at the time of writing, selling for $0.11 USD approximately. Stellar has been on a roll since the beginning of 2019. The first lift came from Coinbase announcing a $100 million USD Stellar airdrop.

>> Social Media Companies Join the Crypto World: Facebook and VKontakte

Then, news that IBM would be using the Stellar blockchain to power its latest deals with banking institutions also lifted the coin.

All-in-all, between the first week of February and the end of March, the total market capitalization of Stellar is up by more than 29.7% according to CoinMarketcap.

What coins do you have your eyes on? Were you excited by the growth in Bitcoin price?

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Bitcoin Price | What the Technical Chart Indicates About BTC’s Movement

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Bitcoin

Bitcoin

The month of July has been a very volatile one for Bitcoin investors due to the range of factors that brought the six-month-long bull run from the start of the year to an abrupt end. BTC had risen to $14,000 at one point last month but now the token is struggling to hold on to the $10,000 level.

Price Analysis

In a new development, Bitcoin price easily went below the psychologically important level of $10,000 yesterday, despite a rally that had taken the price to as much as $10,200. Traders rejected that price, and eventually, the price of Bitcoin fell to as low as $9,100 on Monday.

In this regard, it is important to add that Bitcoin traders have continued to buy the dips over the last few months and this is the first time that the world’s largest cryptocurrency is experiencing genuine selling pressure from bears. It remains to be seen how the market reacts over the course of the next few days before a definite pattern emerges. That being said, based on the technical chart, the new resistance level for Bitcoin is now $10,200, and the token would need to go beyond that price in order to go on another bull run.

>> Bitcoin Rewards: Safeway Partners with Lolli to Give BTC to Customers

Moreover, if $10,200 and $10,750 are broken, then the token can go up to $11,600 first, and if that is breached, then $12,500 is the next target. Once those two resistance levels are breached, bulls can once again attempt to regain the $14,000 level (BTC’s 52-week high) and send the coin on another bull run.

On the other hand, it is necessary to note that the downside thresholds have also been lowered following the latest setback. $9,050 is the first level, followed by $8,450; if those levels are breached, then the next thresholds are at $7,650 and then onto $6,950. It is shaping up to be a very interesting time for Bitcoin traders.

At the time of writing, Bitcoin is trading at $9,574, down by 0.50%.

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Bitcoin Price | BTC’s Sudden Spike Leaves All Puzzled

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Bitcoin Price

Bitcoin Price

The cryptocurrency market has again undergone strict scrutiny after analysts and market players were shocked by the sudden jump in Bitcoin price two days back on Tuesday. The shocking spike in the price generated fear about the high volatility and risk involved in the cryptocurrency market. Investors and analysts, rather than celebrate, have become all the more conscious about the vulnerability of the market.

After the 2017 bubble, on Tuesday Bitcoin price surged almost 20% above its previous price, provoking many altcoins to increase in price as well. Analysts are busy searching through the records and charts to find the reason for Bitcoin’s spoke. Twitter also caught the frenzy, being flooded with posts and comments about the crypto happenings.

Changpeng Zhao, CEO of Binance, tweeted wondering whether anyone had any clue about this rise, as he himself was clueless.

While many ignored the rush by saying that volatility is the main feature of cryptocurrencies, others anticipated large-scale buying by anonymous investors to skyrocket Bitcoin price further. One explanation currently floating around about the spike in BTC involves a fake news article claiming US SEC would approve Bitcoin ETFs.

However, investors are more worried about the malfunctioning in the cryptocurrency market that Bitcoin’s spike indicates. The whole market is saturated with problems of the unpredictability of data, price, liquidity concerns, and the lack of assigning a fair value to digital assets.

Obi Nwosufrom, from the Coinfloor Exchange (London Based), said that the market is completely decentralized and there is no tool or technique yet to find a fair value for the assets in this market, which is why it is so vulnerable and volatile.

>> Crypto Blacklist: Belgium Updates List of Crypto Fraud Websites

However, what’s happening now is reminiscent of the 2017 investor-led crypto bubble that brought Bitcoin price close to $20,000. At that time, regulator intervention drove many of those investors out of the market, resulting in BTC price crashing at the start of 2018.

At present, the cryptocurrency market is being driven by individual investors with high net worth, hedge funds, and blockchain IT firms. Long-term money is still very much absent in the crypto space.

The reason behind this is explained by David Mercer, LMAX Exchange Group CEO. He explains that cybersecurity and governments’ stance are the two major hurdles in the market for long-term investors.

On Friday, Bitcoin price was trading up marginally at $4,990 USD.

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Bitcoin (BTC) to Gain More Strength Above $12k Mark

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Bitcoin

Bitcoin

Bitcoin (BTC) is eyeing fresh gains after a 30% correction from one-year highs. The crypto elicited some selling pressure after a spike to the $13,800 level. A pullback from its one-year highs initially raised concerns as to whether the flagship crypto would continue gaining.

Bitcoin Price Analysis

A plunge below the $10,000 level appears to have triggered some buying pressure because Bitcoin has once again started surging, consequently taking out the $12,000 mark, be it for a brief moment. A bounce back to the $12,000 level could as well signal that bulls are still in control, despite the recent steep pullback.

Bitcoin needs to rally and stabilize above the $12,000 mark, to bring to an end to the correctional phase and set the stage for further upside action. According to crypto observers, the $14,000 level is unlikely to be a stiff resistance level that will curtail further upside action. Crypto analysts remain confident of BTC making a run for its all-time highs of $20,000.

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Bitcoin Catalysts

Strengthening fundamentals are some of the catalysts likely to continue fuelling further upside action, after a solid start to 2019. An influx of institutional investors, as well as mainstream companies into the burgeoning sector, are some of the factors strengthening Bitcoin upside action. JPMorgan and Facebook unveiling two new cryptocurrencies all but add a layer of credibility to the nascent sector.

“Reasons why bullish BTC despite the blow-off top: 1. Big buyers out there 2. Retail not yet participating 3. Institutional on-ramps about to come online 4. Macro narratives catching on 5. Real LT positive macro backdrop 6. Miners hoarding on the way up 7. Halving countdown,” said Alex Kruger.

Joseph Rager, a cryptoanalyst, believes that underlying fundamentals are solid enough to trigger a 153% run in the near future, consequently pushing Bitcoin price past the $24,000 mark. How Bitcoin performs in the next few months is likely to have a ripple effect on the broader cryptocurrency sector.

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Bitcoin Price | Analysts Indicate BTC Could Drop to $4,000

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Bitcoin price

Bitcoin price

Most analysts and investors viewed the recent reaction of Bitcoin price to the Bitfinex/Tether controversy as an indication of improving fundamental strength. According to one analyst, it may be too early to celebrate yet as Bitcoin price is likely to drop into the $4,000 region before gaining any significant support that will allow it to continue with the momentum of growth.

Tether/Bitfinex Controversy

Traders and investors are expected to be ready for this bearish possibility, but analysts have pointed to a long-term trend line that demonstrates how Bitcoin price is expected to grow in the future. The current price of Bitcoin is $5,230, after losing 1% from its 24-hour high in the last session.

For bulls, it’s quite unfortunate that after gaining momentum early in the month, Bitcoin price could be affected by the controversy surrounding Bitfinex and Tether. This controversy has led to Bitcoin losing part of its fundamental strength as it tries to shift towards the support it has under the $5,000 region.

In a tweet, renowned cryptocurrency analyst Big Cheds shared a bearish sentiment, indicating that he believes Bitcoin price will face two downward legs that will lead it to the $4,400 mark before it eventually gains momentum. Income Sharks also explained that the price of Bitcoin will remain in a tight trading channel for quite some time.

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Future Prospects Still Bright

The is still hope in Bitcoin and other cryptocurrencies, despite the daily price movements, that indicates the markets and long-term prospects of the industry look bright even though the bearish markets seems to persist for now.

Crypto analyst Chonis Trading shared in a tweet recently a long-term chart demonstrating the increasing trend line that indicates the possible acceleration of Bitcoin price, which is expected to form an immense bull trend.

In the short-term, it is important to monitor how well Bitcoin price responds to support in the lower $5,000 region because it will dictate the viability of the price drop into the $4,000 region.

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Bitcoin Falls 30% from Highs

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Bitcoin

Bitcoin

Regardless of a 30% price correction on Bitcoin, analysts are still bullish on the coin. On Saturday, BTC dropped 8%, and cynics believe that the rally towards a record all-time high is now over.

Bitcoin surged over the past two weeks, establishing an M-top at $13,177 and $13,739 before dipping to $9,600. Despite the drop, the majority of traders are expecting the digital assets to retrace to the 50% and 61.8% Fib retracement level, which is close to the CME futures gap. Equally, the coin has dipped out of the widening wedge that took it to its 2019 high from $4,000, and the parabolic movement is negated; thus there are chances of revisiting the 61.8% Fib retracement.

Bitcoin Turning to Be a Store of Value

In the past five years, the volume of unmoved Bitcoin has significantly increased, with coins being held in a single wallet for close to two years. This demonstrates the potential of Bitcoin being a store of value rather than a medium of exchange. There is a correlation between price increase amounts of unmoved Bitcoin in wallets as a store of value.

Analysts indicate that once the BTC/USD rally peaks, there will be a large volume of Bitcoin that will be available for cheap. BTC bull markets have so far corresponded with miner capitulation, and there is a tendency of BTC price rising from these lows to grow 100 fold. Since the February bottoming, BTC price has rallied close to 300%, and it is mirroring previous cycles.

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Miners Anticipate the 2020 Halving Event

Currently, miners are holding Bitcoin, as they anticipate the 2020 halving event. Despite the present correction, the price is unlikely to go below $3,120. It is expected that miners will be selling a few coins as they wait for 2020, and this will lead to price gains in the short-term. Selling will most likely resume once buying pressure declines.

Analysts expect Bitcoin price to hit $20,000 if it follows its near-term consolidation trend coupled with the pre-halving excitement.

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Bitcoin Price | Short Sellers Surprised as Bitcoin Surges Another 4.5%

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Bitcoin Price

Bitcoin Price

Those who betted that Bitcoin’s bull run was over were hit with a surprise today. According to Reddit, over $44 million USD was lost on BitMEX due to short sellers betting on a Bitcoin price decline.

The largest digital asset by market cap surprised investors with another climb up the charts. At 10 am UTC, Bitcoin surged 4.4% and almost breached the $12k mark on CoinMarketCap.

Bitcoin Price Surges 4%

Bitcoin is currently selling for $11,862 USD on CoinMarketCap; however, Cointelegraph reports:

“On major exchanges, USD spreads meant bitcoin was yet to reach $12,000 universally, with Bitfinex the first to record the higher price point, topping out at $12,040. Bitstamp, traditionally one of the more conservative price trackers, recorded $11,940.”

On Thursday, June 27, Bitcoin’s winning streak came to an abrupt stop when the coin suddenly crashed below $11k per coin from its year-to-date high of $13.8k approximately. Several days later, it had fallen further to below $10k per coin.

Skeptics believed that Bitcoin price would subsequently continue to fall; however, it has paired some losses since. While there is no exact reason for the coin’s recent resurgence, investors are relieved, despite short sellers losing huge amounts of money from betting on its decline.

Such volatility in recent weeks has cast doubts on Bitcoin’s future performance. Analysts remain unsure, but there’s a general consensus that a bear trend is on the way.

Altcoin’s Performance

Everyone’s attention remains on Bitcoin price, especially considering elsewhere in the cryptocurrency market, altcoins have performed rather poorly. However, there have been some exceptions.

For example, Ethereum is the most exciting altcoin today, climbing over 6% on the news that its own futures could soon launch. ETH is currently trading at $308.19 USD per coin.

>> Chainlink (LINK) Continues to Get Attention, What Next?

Last week, Litecoin continued to outperform the broader market with an average 5% return for investors. This is likely due to an upcoming “halving” in its blockchain. On August 6, Litecoin will “half,” with miners receiving half the amount of coins they get now with each new block mined. Litecoin is currently selling for $120 per coin, up 1.29% on the day.

Dogecoin was another sudden climber last week after Binance announced it would list the coin on its exchange. The news caused the coin to surge 37%, and now the coin trades at $0.0035 USD per coin.

What way do you think Bitcoin price will go? Will it continue to surge, or is there a bear trend on the way?

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Bitcoin Price | Today’s Market Leaders and Deceivers

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Bitcoin price

Bitcoin price

Checking in with CoinMarketCap, it is clear to see that the majority of the crypto market is in the green. Though the gains are small, 80% of the top 10 coins by market cap are on the rise. Market leader Bitcoin price is up only 0.46% at the time of writing, selling for $3,924 USD per coin—but up is up.

Bitcoin Price

Last weekend, Bitcoin (BTC) came close to breaching the important $4k resistance mark. Bulls were hopeful as Bitcoin price reached a month high of $3,978 USD on March 9th.

Going back to the tail-end of February, Bitcoin skyrocketed to $4,198 in a 24-hour period. Certain prominent bulls such as Brian Kelley spoke out in favor of the coin, and this helped a surge. However, ever volatile, the gains did not last, and Bitcoin slumped the following day back to $3,810 approximately.

Now, at $3,924 USD, it is nearing that stable $4k mark once again but whether it will get up, over, and stay above the hump remains to be seen.

Overall, the last seven days have shown momentum in favor of the bulls. Bitcoin price has maintained its value around the $3,900 mark and has yet to experience any significant decline or sudden correction.

Bitcoin Cash

The day is still young, but Bitcoin Cash (BCH) is leading the top ten with a 4.7% jump at the time of writing. There is no market news to attribute this gain too. It seems in a quiet market, this is simply the work of zealous bulls as BCH breaks above the resistance at $135.

At the time of writing, Bitcoin Cash is selling for $135.03 but with significant dips throughout the day already, it is questionable if BCH can maintain its position above the critical resistance level.

>> Coinbase Upgrades: Wallet App and OTC Desk Get Improvements

Ethereum

Elsewhere, Ethereum (ETH) is having a hard time gathering momentum. It is selling for $133.64 USD, up 0.29% at the time of writing. ETH hit a low of $130 this week, amidst a week where the coin has continually declined.

Are you surprised that Bitcoin price is in green? It has been quite stable in recent weeks; will it last?

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Bitcoin Recovers Quickly on Technical Bounce

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Bitcoin

Bitcoin

Bitcoin may have had a superb year up until June, but the month of July, and especially the past week, has proven to be troublesome as the price of the cryptocurrency continued to crash down. The issues with relation to Facebook’s Libra and United States President Donald Trump’s comments about cryptocurrencies like Bitcoin caused a massive drop. The token fell below $10,000 after having climbed above $13,000 earlier.

Sudden Spike

However, it seems that Bitcoin is making a comeback yet again, and today, the cryptocurrency experienced a massive spike that saw it gaining as much as $1,000 in a matter of a few minutes on most exchanges. At the time of writing, Bitcoin is up over 8% at $10,535. In fact, BTC has recovered 16% from yesterday’s low of $9,050.

Due to that incredible spike in price, Bitcoin managed to cross the important hurdle of $10,000, and eventually, the price reached $10,300. Considering the sort of trying week it’s been, this tearing spike has caused a stir in the crypto sphere.

However, it is perhaps more important to consider what it all means going forward. One Bitcoin analysts took to Twitter and stated that a pattern of this nature started back in April this year when Bitcoin was still trading at $4,000. It was also at that point when the massive bull run started that eventually took the cryptocurrency to more than $13,000 earlier this month.

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That being said, it is perhaps more interesting to look at the possible reasons why the spike might have taken place, and in this regard, it is important to note that the reasons behind a spike of this nature if hard to figure out.

It should be noted that Representative Patric McHenry said yesterday that Bitcoin can never be wished away and it is here to stay. In addition to that, the head of the Federal Reserve, who had earlier been critical of Libra, stated that Bitcoin is a “store of value.” Such an encouraging statement could have been behind this incredible spike.

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Bitcoin Price Surges to a New 2019 High

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bitcoin price

bitcoin price

The crypto market has been surging this week and Bitcoin price continues to pull up, breaking through resistance to establish a new 2019 high. Its market capitalization is increasing, reaching around $180 billion.

Bitcoin Breaks Resistance

According to TradingView, Bitcoin surprised many in the past week after breaking resistance and surging to $5,640. In the last trading session, Bitcoin price gained 4%, surging from $5,480 to $5,640. A crypto asset trader who is known as “Crypto Rand” has indicated that Bitcoin is likely to increase to $6,000 based on the recent performance in April.  In April, crypto traders were optimistic about the price of Bitcoin following its rally in the first week of the month when it surged 20% against the dollar.

Most traders were skeptical about the momentum of the crypto market and if it could be sustained in the short term considering that both Bitcoin price and other cryptocurrencies in the markets had large gains at the start of the month.

Other Cryptos Follow

Although Bitcoin price is headed for new 2019 highs, Ethereum has, on the other hand, experienced a slower momentum, gaining minimally below $175. But with BTC climbing, ETH’s momentum is also likely to grow, and Ethereum will benefit from the current healthy momentum that Bitcoin is enjoying.

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Altcoins are also enjoying the green as Bitcoin leads the way to new highs. Currently, Cardano is the top gaining crypto in the altcoins section, and it gained 9% on the day closing at $0.080. Elsewhere there is no significant movement except for Bitcoin Cash, which moved to $300.

There is movement of the top twenty as Tezos has climbed 8% to $1.43, while Bitcoin SV and NEO both moved 4%. Much of the rest of crypto is making marginal gains. The gains are likely to continue provided Bitcoin price maintains above $5,500.

A huge fomo-driven pump has taken DGD up 28%. Binance has taken 70% of the $30 million daily volume as the gold-based token surges to $35.

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