Bitcoin Bull Market Gains Steam, Breaks $9K for the First Time in 2020

On Jan. 18, Bitcoin (BTC) price finally made a strong push through the resistance level at $9,000 and rallied to $9,194 before pulling back slightly. BTC price has reached its highest level since early November, hitting $9K for the first time in 2020.  BTC USD daily chart. Source: TradingView The upside move brought the price above the main trendline of the ascending triangle in the $9.1 to $9.2K zone (highlighted pink) to set a daily higher high and open the door for further gains to $9,600. Cryptocurrency market weekly overview.…

Ethereum Set For Further Gains In Light of Fresh Technical Breakout

Ethereum found support near the $158 level and started a fresh increase, similar to bitcoin. ETH is gaining momentum and it could soon break the $170 resistance. Ether price started a fresh increase after it found support near $158 against the US Dollar. Bitcoin price is also rising and trading nicely above the $8,650 level. Yesterday’s highlighted key declining channel was breached with resistance near $165 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now showing a lot of positive signs and it could continue…

Bitcoin Price ‘Cools Off’ at 8.7K After Best January Gains Since 2012

Bitcoin (BTC) calmed its bullish growth after a week of gains on Jan. 15, settling just below its highest levels in two months.  Cryptocurrency market daily overview. Source: Coin360 BTC steadies 12% higher Data from Coin360 and Cointelegraph Markets showed BTC/USD hitting local highs of $8,885 on Tuesday, before a slight retracement an area around $8,700. Bitcoin 7-day price chart. Source: Coin360 The repositioning caps a frenetic few days for the largest cryptocurrency, which cemented weekly gains of over 12% in just five days.  So far, January 2020 has already…

Bitcoin Retraces 45% of Recent Price Gains as Bulls Lose Momentum

View Bitcoin continues to lose altitude and risks falling to crucial support near $7,555. A UTC close below that level would invalidate an inverse head-and-shoulders breakout confirmed on Jan. 6. However, the pullback was based on low volumes and could be reversed. A move above $8,000 would imply an end of the price pullback and open the doors for a re-test of the recent high of $8,463. Bitcoin is flashing red for the third straight day, with a major portion of the recent price gains now erased. After a drop…

Bitcoin Price Breaches $7,400 Mark as Most Top-20 Coins See Gains

Sunday, Dec. 22 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as Bitcoin (BTC) is breached the $7,400 mark again. Tezos (XTZ) is the only cryptocurrency among the top-20 that is seeing losses. Market visualization courtesy of Coin360 Bitcoin price is currently up by 3.36% on the day, trading at around $7,422 at press time, according to Coin360. Looking at its weekly chart, the coin is up by about 4.1%. Bitcoin 7-day price chart. Source: Coin360 As Cointelegraph reported earlier today,…

At 8,990,000% Gains, Bitcoin Dwarfs All Other Investments This Decade

Bitcoin (BTC) has beaten gold in terms of returns by such a large amount this decade that investors have firmly dismissed recent price declines. Data from monitoring resource Blockchain shows that since 2010, Bitcoin has delivered profits of almost 9 million percent. Bitcoin profitable 89% of its lifetime Put differently, $1 invested in BTC ten years ago was worth around $90,000 as of Dec. 18. By comparison, $1 of gold is now worth $1.34. Bitcoin average market price 2009-2019. Source: Blockchain Visibly buoyed by Bitcoin’s performance, Barry Silbert, CEO of…

Bitcoin (BTC) Hesitates But Further Gains Seem Likely

Bitcoin price is consolidating gains above the key $7,000 support area against the US Dollar. The price could dip towards the $6,960 support before it starts a fresh increase. There is a short term contracting triangle forming with resistance near $7,135 on the hourly chart of the BTC/USD pair (data feed from Kraken). The bulls need to gain pace above $7,135 and $7,240 to start another increase towards $7,500. Bitcoin price is trading in a bullish zone above $7,000 and $6,960 against the US Dollar. BTC is hesitant, but it…

Blockchain Supply Chain Platform Gains Metals Giant Glencore as Member

British-Swiss commodity trading and mining company Glencore will use an IBM-developed blockchain solution to track cobalt.  In a press release issued on Dec. 12, Glencore confirmed it had joined the Responsible Sourcing Blockchain Network (RSBN), a joint partnership between various major corporations leveraging the technology to improve supply chain transparency.  Glencore: blockchain aids good practice RSBN is the brainchild of global sourcing audit and advisory RCS Global Group. It uses the IBM Blockchain platform and is powered by Hyperledger Fabric.  “RSBN plays a key role in advancing the sustainable partnership…

Ripple (XRP) Price Starts Fresh Decrease: BTC & ETH Trimming Gains

Ripple price is currently declining from the key $0.2320 resistance area against the US dollar. The price is now trading below $0.2260 and it is showing a few bearish signs. Yesterday’s major bullish trend line was breached with support near $0.2280 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is also struggling and it is declining towards the $144 support area. Ripple price is under a minor bearish pressure against the US Dollar, similar to bitcoin. XRP price remains at a risk of a drop…

Gov’t Seeks to Tax Crypto Transactions as Capital Gains

The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the first half of 2020. In parallel, the Korean National Assembly is in the process of advancing a related bill aimed at increasing transparency in cryptocurrency trading. If passed, the new regulations would come into effect one year after the Assembly’s plenary session. While the government’s capital gains…