Traders Cautious as Bitcoin Plunges to a New Yearly Low: Can it Recover?

On December 7, the Bitcoin price achieved a new yearly low, as the valuation of the crypto market fell by $16 billion within a 24-hour span. Bitcoin Price Struggles to Recover from New Yearly Low Bitcoin (BTC) fell to as low as $3,210 on fiat-to-cryptocurrency exchanges like Bitstamp and Coinbase, which led other major cryptocurrencies and low market cap digital assets to fall by around 15 to 20 percent against the U.S. dollar. Since then, the Bitcoin price has rebounded from $3,210 to $3,455, by more than seven percent within…

Bitcoin Avoids Large Drop Below $3k With 7% Recovery, Trend Reversal?

Over the last 24 hours, the Bitcoin price has experienced a seven percent recovery from $3,210 to $3,433, avoiding a further drop below the $3,000 support level. Many traders expected Bitcoin (BTC) to rebound from the $3,000 to $3,300 range because the $3,000 support level has shown strength throughout the past two weeks. Ethereum (ETH) recorded a 15 percent increase from its daily low and ERC20 tokens such as Quarkchain, OmiseGo, and 0x demonstrated gains in the range of 5 to 15 percent, due to the integration of tokens by…

Crypto Exchange Bithumb May Have Propped up Bitcoin Price: Analysts

The bitcoin price touched a fresh yearly low this morning, leaving traders and investors scrambling for answers as the crypto market searches for a bottom. While there are numerous pressures that have weighed on bitcoin as it has taken step after step away from last year’s all-time high, research from CryptoCompare suggests that South Korean cryptocurrency exchange Bithumb may have contributed to the recent sell-off — at least indirectly. According to the firm’s latest CCCACG (short for CryptoCompare’s Aggregate Pricing Index), Bithumb led all crypto exchanges in daily volume from…

Bitcoin Price Eyes Support at $3,000 as BTC/USD Sets New Yearly Low

The bitcoin price on Friday plunged 6.5 percent against the US Dollar, breaking below the flagship cryptocurrency’s previous yearly low at $3,455. The bearish cycle took another turn after the Securities and Exchange Commission (SEC) halted its decision on the VanEck’s upcoming bitcoin ETF once again. The fundamental has been treated as one of the strongest bullish catalysts for the bitcoin market, with many believing that its approval would bring a minimum of $1 billion investment into space. In case the US regulator disapproves it, the market sentiment would be…

Volatile Much? Here Are the Top 4 Reasons Crypto Went Wild in November

Until the start of November, crypto volatility was trending down. Then, several major events happened and the whole cryptosphere went off the charts. But why? According to the Crypto Volatility report released today by SFOX, cryptoassets showed more volatility than the S&P 500 and gold during November, and there are four key factors that contributed to the market’s roller coaster ride. Inside the Crypto Market’s Wild November Source: SFOX Taking into account price, volume, and volatility data from seven major exchanges and liquidity providers, SFOX analyzed spikes in volatility and…

Don’t Wait on Bitcoin ETF, Could Take Days to Years

Since early 2018, the approval of a Bitcoin exchange-traded fund (ETF) has become the catalyst of the next bull run of crypto to the mind of many investors in the market. A Bitcoin ETF could certainly increase the liquidity of the dominant cryptocurrency in the U.S. market as it would allow both institutional and retail investors to securely and efficiently invest in the asset class without running in conflict with local regulations. However, according to pro-crypto U.S. Securities and Exchange Commissioner (SEC) Hester Peirce, the approval of a Bitcoin ETF…

Bitcoin is 43% More Profitable Than Craig Wright’s ‘Miner-Friendly’ BSV

When Craig Wright formed an alliance with CoinGeek founder Calvin Ayre to launch a hostile takeover of the Bitcoin Cash (BCH) network, the two men predicted that their BCH implementation — Bitcoin SV (BSV) — would quickly accrue near universal support among miners due to its allegedly miner-friendly protocol specifications. This support would be so comprehensive, they boasted, that the other BCH would quickly cease to exist. Actual events, of course, took a very different turn, and before long, BSV’s backers had resigned themselves to pursuing “Satoshi’s original ‘original vision’”…

Bitcoin Price Will Likely Fall to $1,500: Bloomberg Analyst

On the back of a grueling quarter, the bitcoin price could still see tougher times ahead. One analyst over at Bloomberg sees the flagship cryptocurrency possibly heading toward $1,500. Indeed, bitcoin had a dismal November, as part of a difficult year overall for the crypto market, though the past few days have seen slightly more stability from crypto’s largest asset. However, today it seems that the selling has resumed. Bitcoin has dropped nearly $200 already today, from just over $3,900 down to $3,739 as of the time of writing. BTC/USD…

Bitcoin Looking to Retest This Year’s Low at $3,455

The bitcoin price on Wednesday plunged as much as 4.3 percent as the market continued to erase gains made during the weekend trading session. The BTC/USD index on Coinbase today established an intraday low at 3663-fiat after the 50-period moving average on the hourly chart capped the upside attempt. The pair nevertheless is trending inside two distinctive channels. As noted in our previous analysis as well, one of these patterns is a symmetrical triangle (depicted in bold purple). BTC/USD is testing the triangle support at the time of this writing…

Breakout Inbound? Bitcoin Price Sets $4,000 as Upside Target

The bitcoin price on Tuesday jumped as high as 6.1 percent against the US Dollar but failed to sustain a bullish momentum. The BTC/USD index is trading at 3910-fiat at press time, up 4.5 percent from the intraday low at 3741-fiat. The pair is undergoing a pullback action after failing to sustain its run above 4000-fiat. The said level still has a lot of bearish activity going around while an equally strong buying sentiment can be seen at 3741-fiat, which has reversed downside corrections twice in the past 36 hours.…