Crypto winter shows no signs of abating anytime soon. In the past week, bitcoin rounded out its sixth consecutive month in the red while the NEM Foundation suspended all projects and partnerships due to the sinking XEM price.
The US stock market posted huge losses ahead of the holiday close as investors absorbed the Federal Reserve’s interest rate hike and a bunch of other bearish economic data. White House trade advisor Peter Navarro said Friday that the trade war between the US and China would not come to an end in near-term. He
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For a cryptocurrency which has dropped 98 percent from its all-time high already, bitcoin cash — for now — is looking brave in the face of a powerful bearish sentiment. The cryptocurrency’s ABC version this week surged close to 150 percent against the US dollar, from about $ 71 to $ 182 on a 7-day timeframe. The … Continued
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With bitcoin prices dropping further early on Sunday, the cryptocurrency now looks to be heading for its worst weekly loss in over 5 years.
On Monday, bitcoin underwent a bearish correction after establishing a new weekly high at 6440-fiat, falling close to 0.8 percent. Bitcoin Hits Weekly High The BTC/USD pair is trading in a bull trend above the 200-period simple moving average on hourly charts. The big move yesterday seems to have appeared more because of Tether, whose
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Another week has passed as bitcoin continues to coil in a tighter and tighter consolidation. Both price and volume continue to consolidate as bitcoin decides where the next major move will be. A trend of higher lows and lower highs shows a balance of both supply and demand, but ultimately one will win out:
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Bitcoin (BTC) might finally be out of the woods this time as its price finds support at the 200 EMA on the weekly chart for BNC:BLX above in addition to its previous resistance turned support as well as the $ 5,800 support. This confluence of supports makes it very difficult for the bears to push the price lower from current levels. RSI is already trading in a falling wedge and is all set to break out of it in the weeks to come.
In this week’s daily editions of Bitcoin in Brief we reported about China hiring a cryptographer, McDonald’s unveiling Maccoin, Bitmain getting richer and much more. The most commented-on article during the week covered Paul Krugman’s new attack on the idea of cryptocurrency on the pages of The New York Times.
Bitcoin (BTC price) had another very strong week, with the ETF hype continuing to apply upward pressure to price action.
STRONG WEEK FOR BTC PRICE BULLS
Bitcoin price 00 punched through the 200 daily EMA early on Monday Morning, where it quickly became support and provided a Launchpad to the 1.618 Fibonacci target of $ 8,515 by Tuesday.
Using Bitfinex long-Short data; a notable 22% of long positions were closed in the run-up to the highs from $ 7,777, signalling profit taking by the bulls, which acted as a contra to the market buying by new market participants speculating on the ETF announcement.
In this week’s daily editions of Bitcoin in Brief, we reported about Twitter blocking ETH scambots mimicking Elon Musk, a US presidential candidate who accepts crypto donations, the expected arrival of a ‘herd of institutional investors’ and much more. The most commented-on article during the week covered the latest development of the ongoing legal battle in the Ross Ulbricht case.
In this week’s daily editions of Bitcoin in Brief we reported about Coinbase opening the floodgates for institutional money, the new crypto law in Malta, and a move by Bittrex to invade the European market. We also covered, in this week’s most commented-on article, Nobel laureate economist Paul Krugman’s trolling of XRP and BTC supporters.
In a poor week for the wider markets, a listing on the Gemini exchange put a strong bid under zcash, producing gains of 50 percent.
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Amanda Coolong, Mark Jeffrey, Chris Hayes – Bitcoin News Weekly
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