Bitcoin Price Unfazed By Unveiling of Facebook’s Libra Crypto

View The unveiling of Facebook’s Libra cryptocurrency has failed to put a strong bid under BTC. The cryptocurrency may be vulnerable to a “sell the fact” pullback, too. The 4-hour chart indicates scope for a drop to $8,800. A break lower would expose key average located at $8,500. On the higher side, a high-volume above the crucial Fibonacci retracement level of $9,442 is needed to strengthen the case for a rise to $10,000. Bitcoin (BTC) is struggling to gather upside traction following Facebook’s official announcement of its Libra cryptocurrency project. At 09:00 UTC…

3 Reasons Bitcoin’s Price is Rallying Above $9K

Bitcoin rose above $9,000 over the weekend, taking cumulative year-to-date gains to more than 150 percent. The leading cryptocurrency by market value clocked a 13-month high of $9,391 on Bitstamp on Sunday and was last seen trading at $9,200, representing 22 percent gains on last Monday’s low of $7,524. Cryptocurrency market experts and investors are associating the sharp price gains seen over the last six days with a number of factors, the most prominent being Facebook’s coming foray into cryptocurrencies. Facebook to launch ‘GlobalCoin’ The social media giant is set to…

Above $9.3K: Bitcoin’s Price Prints 13-Month High

The price of bitcoin (BTC) hit a 13-month high above $9,300 on Sunday. The leading cryptocurrency by market capitalization rose to $9,325 at  05:45 UTC – the highest price since May 10, 2018, according to CoinDesk’s Bitcoin Price Index. BTC was last seen trading at $9,295, representing 6 percent gains on the day. On a weekly basis, the cryptocurrency is up more than 16 percent. More than $19 billion worth of bitcoin has been traded across cryptocurrency exchanges in the last 24 hours, according to Messari data. Meanwhile, major exchanges…

Bull Trap? Bitcoin’s Price Rise to $8,300 Isn’t Backed by High Volumes

View Bitcoin has rallied more than 9 percent in the last nine days, but on low volumes – a sign of low investor confidence. As a result, the gains could be short lived. The bearish volume divergence indicates BTC could dive out of a “rising wedge” bearish reversal pattern seen on the 4-hour chart. A wedge breakdown, if confirmed, could see a return to $8,000 or lower. If trading volumes pick up in the next 24 hours, prices may rise above $8,500 over the weekend, validating a bearish channel breakout…

Bitcoin Price Eyes Chart Pattern That Kicked Off Bull Market in 2015

View Bitcoin’s 50- and 100-candle moving averages on the three-day chart look set to produce a bullish crossover – a sign of bull market momentum. Back in October 2015, the same cross marked the start of a long-term bull market. This time, BTC has already rallied more than 180 percent ahead of the bull cross. As a result, we may not see a big move to the higher side immediately following the confirmation of the bull cross. Prices could rise to $8,400 in the next 24 hours, having witnessed a…

Bitcoin Struggles for Price Gains As Litecoin Hits 13-Month high

View Bitcoin’s price consolidation in a tight range continues for the eighth day, as litecoin rallies to its highest level since May 2018. BTC’s 4-hour chart shows $8,053 is the level to beat for the bulls. A high-volume break higher could be followed by a rise to $8,500. LTC looks set to extend its recent rally as per the 3-day chart. LTC already rallied more than 100 percent in the last six weeks, so a pullback to $120 could be seen before further gains. Bitcoin (BTC) is lacking a clear…

‘It Feels Like Family’: Bitcoiners Gather for Security Conference in Amsterdam

A swift breeze swept across the canal and into a small Amsterdam pub, where about 30 bitcoiners sat drinking beers and registering for Breaking Bitcoin 2019. It smelled like rain. From a British mom who works from home as a “bitcoin hobbyist,” to a ripped Kiwi technologist with a thick beard, people who work with bitcoin gathered to joke about Crypto Twitter and nodes. They were in Amsterdam for one of the most prestigious security conferences in the blockchain industry. But on this rainy Friday, they had also come for…

No Man’s Land: Bitcoin Price Locked in $600 Range for Seventh Day

View Bitcoin has been trapped largely in the $7,500–$8,100 trading range since June 5. A high volume falling channel breakout on the 4-hour chart, if confirmed, would revive the bullish outlook and open the doors to $8,500. The 4-hour chart moving averages and trading volumes indicate the price is more likely to fall back to $7,500 in the next 24 hours. A break below $7,500 would validate the bearish doji reversal confirmed by Sunday’s close below $8,000 and allow a deeper drop below $7,000. Bitcoin’s (BTC) struggle for direction continues…

Bitcoin’s Price Is Just $300 Away From a Short-Term Bear Reversal

View Bitcoin is on the defensive, having closed below $8,000 last week. The price has also established a bearish lower high at $8,135. A short-term bullish-to-bearish trend change, however, would be confirmed if the price drops below $7,432 (June 4 low), establishing a lower low. With the weekly chart reporting a bearish candlestick pattern, a UTC close below $7,432 looks likely. The daily relative strength index’s move above the falling trendline would revive the short-term bullish outlook. Bitcoin’s (BTC) bulls need to keep prices above key support at $7,432 to…

Bitcoin Trade Volume on Coinbase Hit a 14-Month High in May

Bitcoin trading volume on the largest US-based cryptocurrency exchange, Coinbase, hit the highest amount seen in 14 months in May. During the month of May, Coinbase facilitated the trade of 738,959.42 BTC — worth approximately $5.9 billion at current market prices — according to data from Bitcoinity. This development marks the exchange’s highest level of bitcoin trade volume since March of 2018. Additionally, it also represents the sixth-most voluminous month for bitcoin trading on the exchange to date. Perhaps not surprisingly, the rise in volume was accompanied by a 60 percent…