Bitcoin (BTC) Price Weekly Forecast: Bulls Preparing For Larger Rally

There is a strong resistance forming for bitcoin near the 8,200-8,300 area against the US Dollar. The price is placed nicely above the $7,840 and $7,600 support levels. There is a crucial contracting triangle forming with resistance near $8,200 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is likely to break higher and surge once it clears the key $8,300 resistance area. Bitcoin price is holding gains above $7,800 and $8,000 against the US Dollar. BTC seems to be setting up for a monster…

Bitcoin (BTC) Price Smashes Resistance: Bulls Target Fresh High

Bitcoin price started a strong rise above the $7,800 and $8,000 resistances against the US Dollar. The price gained traction and even traded close to the $8,200 resistance area. This week’s followed important declining channel was breached near $7,960 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently forming a triangle pattern and it could continue higher above $8,150 and $8,200. Bitcoin price jumped back into a positive zone above $7,800 against the US Dollar. BTC is currently forming a bullish pattern and…

Bitcoin (BTC) Price Facing Uphill Task: Another Dip Before Higher?

Bitcoin price declined recently and tested the key $7,500 support area against the US Dollar. The price rebounded and traded above the $7,780 and $7,850 resistance levels. Yesterday’s highlighted key declining channel is acting as a barrier near $7,980 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could drop once again towards the $7,720 support area before it starts a fresh increase. Bitcoin price rebounded nicely above $7,700 and $7,850 against the US Dollar. However, BTC is facing a strong resistance and it could…

Bitcoin (BTC) Will Easily Recover ahead of Halving, Manager Confident

Bitcoin (BTC) ranging Brian Kelly says his fund is hoarding BTC ahead of next year’s halving It’s a sea of red in the top-10 and Bitcoin is down 4.8 percent from last week’s close. However, that doesn’t imply weakness because Brian Kelly, a crypto fund manager, says many are hoarding in expectation of 2020 scarcity. Bitcoin Price Analysis Fundamentals Yes, there has been a Bitcoin (BTC) pullback, but that is not enough to dampen expectations of its users. Trading at $7,600 on most crypto markets, Bitcoin is down 4.8 percent…

Bitcoin (BTC) Price Uptrend Pauses But Not Out of Woods Yet

Bitcoin price is currently under pressure below the $7,800 support area against the US Dollar. The price declined recently and it is currently trading just above the $7,500 support area. There is a major declining channel in place with resistance at $8,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline a few points and there might be a strong bounce from $7,420 or $7,200. Bitcoin price is slowly moving lower towards key supports against the US Dollar. BTC is likely to bounce…

Israeli Court Rules Bitcoin Is Not a Currency in Court Case Over Taxes on BTC Gains

An Israeli judge has ruled that bitcoin (BTC) is an asset and not a currency, local news site Globes reported on May 21. The judgment is significant because it means profits made by selling the cryptocurrency will now be liable to capital gains tax, Globes notes. Noam Copel, who founded the blockchain startup DAV, had bought BTC in 2011 and sold two years later — making a profit of $2.9 million at today’s rates. During the court case, he had argued that bitcoin should be regarded as a foreign currency, as fluctuations in exchange rates are…

7,000 BTC Lost in Hangzhou Scam

This article was originally published by 8btc and written by Vincent He. Nearly 100 victims from various parts of China have reported to the Hangzhou police bureau, claiming that they were deceived by two young men, named Zhou Yi and Li Xiang, who allegedly stole nearly 7,000 bitcoin through exchanging or borrowing. According to the victims, Zhou and Xiang had claimed on the internet that they could exchange bitcoin as futures and provide interest. The victims trusted them, as some preliminary orders in small amounts were delivered on time. As…

Tether Limited “Investing” in Bitcoin (BTC) is a Bullish Signal

Bitcoin (BTC) ranging but stable A portion of Tether reserves was used to invest in Bitcoin (BTC) Tether and iFinex, the parent company, are controversial though they play a crucial role in the ecosystem. Despite their claim that every USDT in circulation is pegged 1:1 against the USD, it appears that they are also investing in Bitcoin and other assets according to the latest Supreme Court transcript. Bitcoin Price Analysis Fundamentals The controversy around Tether Limited, the official issuer of USDT or Tether, appears to be perpetual. A few weeks…

Hackers Steal $100,000+ Worth of BTC From Engineering Manager at Crypto Custodian BitGo

Sean Coonce, engineering manager at cryptocurrency custodian BitGo, announced that he has fallen victim to a SIM swapping hack in a Medium post published on May 20. According to the post, Coonce had over $100,000 siphoned out of his account on cryptocurrency exchange Coinbase in under 24 hours. In his post, Coone details SIM swapping, a practice that sees the attacker maliciously requesting a telecommunications carrier to redirect the traffic of a mobile phone number to a device over which they have control. This device is then used to obtain…

Bitcoin (BTC) Price Trading Sideways: Bulls Eyeing Fresh Increase

Bitcoin price failed to gain momentum above $8,150 and $8,200 against the US Dollar. The price is slowly moving lower in a range and it could test the $7,700 or $7,660 support. This week’s followed key bullish trend line was breached with support near $7,980 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair may continue to trade in a range before a fresh increase above the $8,000 and $8,150 levels. Bitcoin price is struggling to climb further higher within range against the US Dollar.…