Bitcoin Price Already Up 25% in 2020 After Hitting $9,000

Bitcoin (BTC) hit $9,000 on Jan. 17 as technical metrics continued to break both local and all-time records.  Cryptocurrency market daily overview. Source: Coin360 BTC clips $9,000 as traders lie in wait Data from Coin360 and Cointelegraph Markets showed BTC/USD finally rising to the significant $9,000 boundary on Friday, following a bullish run-up overnight. At press time, a slight retracement had sent the pair slightly lower to $8,900, with 24-hour returns still at 3% and weekly performance stronger at almost 16%. Bitcoin holders are currently sitting on monthly gains totaling…

Bitcoin Price Rally to $9K in Danger as a Double Top Pattern Appears

Over the last few hours, Bitcoin price (BTC) swiftly dropped 3% from $8,863 to $8,557 and for the third time in 24 hours bulls were forced to defend the $8,600 support level, which has currently been bought into on each dip.  The pullback came after the digital asset struggled to rise above $9,000, twice testing $8,863 over the past day, which could be interpreted as a take profit signal for traders.  Cryptocurrency market weekly overview. Source: Coin360 BTC USD daily chart. Source: TradingView At the time of publishing, the price…

Ripple (XRP) Price Testing Last Line Of Defense: Here Are Key Reversal Levels

Ripple is down more than 4% after it was rejected near $0.2450 against the US Dollar, similar to bitcoin near $8,900. XRP price is now approaching the key $0.2230 and $0.2200 support levels. Ripple price declined steadily after forming a short term top near $0.2451 against the US dollar. The price is down more than 8% from the recent high and it is now well below $0.2320. Recently, there was a break below a key triangle support at $0.2234 on the hourly chart of the XRP/USD pair (data source from…

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…

Team Behind Foin Token Scheme Explains Catastrophic Price Drop

The Foin project — which is behind the eponymous token that sunk following its supposed unlocking period at the beginning of January — has released an official explanation of the token’s tanking after the purported price pump. Cointelegraph reported in an investigation on Dec. 30, 2019 that we had found a trail of suspicious movements in Foin’s (FOIN) price history, as well as a web of suspect business relationships associated with the coin’s development. As revealed by our investigation, there are multiple entities associated with Foin, like the Swiss-registered Foin…

Mati Greenspan on the Technical and Macro Roots of Bitcoin’s Price Surge

Bitcoin is up more than 8 percent in the last 24 hours. BSV, meanwhile, is up nearly a whopping 100 percent. The question is, of course, why? Is it some larger macro context? A pump-and-dump? Or just the crypto markets being as crazy as they are. The Breakdown invited guest Mati Greenspan, former eToro analyst and now founder of Quantum Economics, to give his take.  We also look at two stories around the growing crypto derivatives markets: the launch of the CME’s options on bitcoin futures and CFTC Chair Heath…

Is a Price Correction Imminent?

Bitcoin (BTC) has been showing strength recently, as it surged from $6,900 to $8,500 in a matter of two weeks. Not only has Bitcoin sees a period of growth, but privacy coins and Bitcoin forks have also been showing a similar move. Crypto market daily performance. Source: Coin360 Dash (DASH) is up 70% in four days, while ZCash (ZEC) is up 45% in the same amount of days. Also, Bitcoin Cash (BCH) has seen an increase of 54% in the past ten days, while Bitcoin SV (BSV) is up 300%…

Bitcoin Price Hits 2-Month High at $8.7K as 3 Bullish Factors Converge

Bitcoin (BTC) surprised traders and analysts alike on Jan. 14 after BTC/USD broke out of its already bullish channel to strike at resistance levels near $8,600. Cryptocurrency market daily overview. Source: Coin360 BTC climbs 2% in an hour Data from Coin360 and Cointelegraph Markets showed Bitcoin jump 2% in just over an hour on Tuesday to hit local highs of $8,745. A slight retracement followed, with the pair circling $8,700 at press time amid heightened volatility. Bitcoin 1-day price chart. Source: Coin360 The latest leg up brings Bitcoin’s 24-hour gains…