Amidst a decline in the price of bitcoin, the world’s most valuable cryptocurrency could find support at $7,500 – that is if it follows past patterns on the charts.
Bitcoin has faced selling pressure over the last few days, despite an impending golden crossover on the three-day chart – a bullish crossover of the 50- and 200-candle moving averages, as discussed last week. As of writing, the 50-candle moving average (MA) is on an upward trajectory and looks set to cross above the 200-candle MA in the next few days.
It is worth noting, however, that a similar golden crossover on the three-day chart was observed in early February 2016, when a bitcoin [...]
Tuesday, July 2 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as Bitcoin (BTC) hovers over the $10,600 mark again.
Market visualization courtesy of Coin360
Bitcoin is currently up by about half of a percent on the day, trading around $10,649 at press time, according to Coin360. Looking at its weekly chart, the coin is down by about 3.63%.
Bitcoin 7-day price chart. Source: Coin360
According to a recent report from equity research platform Seeking Alpha, Facebook’s new cryptocurrency project really can boost [...]
More nations appear to be starting to see the folly of fiat currency. With growing calls for gold-backed currencies for international settlement, there may be an opportunity for Bitcoin to facilitate trade deals with far less manipulation than possible when using national currencies.
Evidence is mounting that countries are more distrusting of one another and in particular of the US dollar and its potential for manipulation. This is driving nations to seek out alternatives.Is Global Settlement Currency the End Game for Bitcoin?
As NewsBTC covered recently, the Malaysian Prime Minister has advocated a gold-backed currency for use between East Asian [...]
The Bitcoin (BTC) price may soon resume its downward trajectory despite mounting technical robustness, an analyst has claimed.‘RIPE TO RESUME LOWER PRICES’
Bloomberg Intelligence analyst Mike McGlone identified diminishing daily returns this month, suggesting an imminent continuation of Bitcoin’s bear market.
Bitcoin (BTC) had buoyed investors in February, with average daily gains approaching 0.6 percent. In March, however, this figure has so far dipped to just over 0.2 percent.
“The entire industry is ripe to resume a path to lower prices,” Bloomberg quotes McGlone as saying in a recent report. Should the trend [...]