Bitcoin Cash Halving Met with 11% Price Surge; BSV Follows with 19%

Bitcoin Cash (BCH) went through with its first block reward halving on Wednesday, with the coin price gaining 11.2% on the day.  Those gains were exceeded by Bitcoin SV (BSV), which gained 19.4% in the same time period. Bitcoin SV is scheduled to carry out its own block reward halving by Friday, April 10th.  Both Bitcoin forks were the only cryptocurrencies glowing green in the market cap top ten on Wednesday. However, those gains look to be short-lived, as the vaulted ‘halvening’ event threw up considerably less fireworks than expected.…

Bitcoin Price Holds $7.1K Amid More Warnings a $5K Retest Is Coming

Bitcoin (BTC) continued to shoot for $7,500 on April 8 as bullish momentum kept support at $7,000 firmly intact. Cryptocurrency market daily overview. Source: Coin360 $7K holds firm for BTC Data from Coin360 and Cointelegraph Markets showed BTC/USD trading in a rigid $300 corridor on Wednesday, keeping volatility between $7,100 and highs of $7,410. Bitcoin 1-day price chart. Source: Coin360 The stronger performance roughly tracked an uptick in traditional markets, which continued to erase earlier losses as hopes that the coronavirus health was beginning to abate. At press time, BTC/USD…

Bitcoin Futures Did Not ‘Manipulate’ BTC Price — Stock-to-Flow Creator

Bitcoin futures do not unfairly impact the price of Bitcoin (BTC), according to the creator of one of the cryptocurrency’s most accurate price models. In a series of tweets on April 7, PlanB, the pseudonymous analyst behind the stock-to-flow model, argued that futures have not caused the Bitcoin price to behave erratically. PlanB: “Nothing unusual” in Bitcoin price after futures release According to stock-to-flow, Bitcoin has performed as expected, even after the first futures hit the market in December 2017.  Now an industry with hundreds of millions of dollars of…

Why Bitcoin Price Abruptly Reversed From a Plunge to $7,000

Bitcoin started a downside correction from the $7,447 monthly high against the US Dollar. BTC price tested the key $7,000-$7,100 demand zone and recently revered losses. Bitcoin failed to extend gains above $7,500 and corrected lower against the US Dollar. The bulls protected the $7,000 support area, resulting in a fresh increase. There is a major bullish trend line forming with support near $7,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue higher towards $7,500 and $7,800 in the near…

BTC’s Price is Either Going to Zero or Seven Figures

In a recent discussion with Morgan Creek Digital Partner Anthony Pompliano, Social Capital CEO and former Facebook executive Chamath Palihapitiya asserted that the price of Bitcoin (BTC) will either reach “millions,” or go to “zero.” For Palihapitiya, the question of whether Bitcoin succeeds will be determined by whether the architects of the existing financial system continue on the current path toward debasement. BTC price will either go to the moon or the gutter Palihapitiya asserts that his case for BTC gaining over 100x from its current price rests on deteriorating…

Bitcoin Indicator That Led Price to $3.8K Turns Bullish; Is $10K Next

Bitcoin could move higher in the medium-term as one of its key technical indicators turns bullish for the first time since February. Dubbed as Golden Cross, the bullish breakout pattern forms when an asset’s short-term moving average closes above its long-term moving average. Bitcoin on Tuesday painted the same pattern on its four-hour timeframe graph, confirmed by its 50-period MA jumping above its 200-period MA. The price, meanwhile, jumped above $7,400. Green Cloud representing the formation of the Golden Cross | Source: Teddy Cleps The moving averages’ intersections play a…

Bitcoin Has Gained $600 for 3 Consecutive Mondays — Price Hits $7,400

Bitcoin (BTC) bulls showed up early Monday morning and took full control of Bitcoin price by sending the price through the $6,900-$7,200 resistance zone to a nearly 4-week high of $7,454. The surge to $7,454 occurred as the United States’ markets opened strong, leading the S&P 500 and Dow to rally 7.03% and 7.73%, respectively.  It seems investors are beginning to gain some confidence as the rate of novel coronavirus infections begins to slow down in Italy, Spain and China along with murmurs of additional financial stimulus packages from governments. …

Bitcoin Price Will Go Up as Only Profitable Miners Remain: Data Analyst

Approximately 4-weeks ago global equities markets were in distress as investors finally realized that the coronavirus was not just an illness restricted to China, but rather a global pandemic which could permanently damage economics across the globe.  Crypto markets were not shielded from the mayhem that led the S&P 500 and Dow to post some of the biggest losses since the 2008 global financial crisis and investors will recall that on March 13 Bitcoin (BTC) price dropped more than 50% in the span of 24-hours.  To date, the volatility and…

Bitcoin Price Rallies Higher but Must Hit $8K to Start a Bull Market

Bitcoin (BTC) closed the week up 15.4% at $6,775 and has started the day with a further 6% move to the upside, breaching the $7,000 handle and making highs at $7,300.  Looking at performance relative to its peers, Ether (ETH) and EOS have posted an impressive 16% gain over the last 24 hours. As a result, Bitcoin dominance is down 1.5% at 65%. Crypto market daily price chart. Source: Coin360 The total cryptocurrency market capitalization breached the $200 billion level, breaking from the diagonal resistance dating back to February when…