Bitcoin price looks weak but this fall below $8,500 might turn out to be a buying opportunity. Fundstrat’s Tom Lee believes that cryptocurrencies “are network value assets” and as the number of people who hold the asset increases, the value of the cryptocurrencies would also move up. According to him, about half a million people…
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While Bitcoin price action remains lackluster, altcoins are attempting to make a strong upside move. Although Bitcoin (BTC) is not showing any trending move, Bakkt and the Chicago Mercantile Exchange (CME) Group continue to roll out products designed to attract the large traders. Bakkt recently announced that it will add a cash-settled futures contract to…
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Bitcoin is at a critical level. Will it bounce off the current level or plummet below it? Let’s analyze the charts. The crypto markets are going through a phase of uncertainty with several cryptocurrencies failing to show a firm trend. This is because the markets lack a catalyst that can either pull prices higher or…
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Several cryptocurrencies have turned down sharply from their overhead resistance levels. This is a sign of weakness. Though crypto markets are in a consolidation phase, the number of first-timers investing in this nascent space has almost doubled, according to data from Square Cash App. This is a positive sign as it shows that investors are…
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The crypto market has pulled back but traders might view the current dip as a buying opportunity as long as critical support levels are not violated. A Bloomberg report, analyzing data from 13 top exchanges, shows that within a very short span of time, Bitcoin (BTC) futures trading volume has grown to about 50% of…
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Many cryptocurrencies are in a pullback which may be viewed as a buying opportunity. What are the critical levels to watch out for? The sentiment in the crypto markets had turned bullish on the news that Chinese President Xi Jinping has called for businesses and government bodies to support the development and adoption of blockchain…
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After last week’s volatility, traders could be anticipating that the crypto market will consolidate the gains before starting next move up. The seesaw price action over the past week has lightened up the crypto space once again. While the aggressive bulls view the sharp upside move as a bottoming signal, the bears consider the rise…
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The reversal in the price of Bitcoin and other cryptocurrencies in the past week points to a likely bottom formation and a change in sentiment to buy the dips. Though fundamentals play a large part in determining the price of an asset, short-term movements of the markets are driven by sentiment. This was clearly visible…
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Bitcoin managed a sharp turnaround just a day after 10% price dump. Does this increase the possibility of a bottom formation? The total market capitalization has bounced from very close to the $200 billion support, which is a positive sign. The pullback from the dip on Oct. 23 has been broad-based with Bitcoin (BTC) and…
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Several major cryptocurrencies are showing signs of a possible trend reversal. If the bounce sustains, many could become optimal buying opportunities. The global economy is on weak footing. This has led to rate cuts by several central banks across the world and many are planning to implement additional measures to support their respective economies. This…
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