Why Billionaire Investors Remain Positive on Long-Term Trend of Crypto

Mike Novogratz, Jim Breyer, and Tim Draper are some of many billionaire investors in the traditional financial market who remain optimistic towards the long-term trend of crypto. How are these investors able to maintain their positive stance in regards to the growth of the cryptocurrency sector following an 85 percent decline in valuation across the board? It’s About Cycles For the most part, high profile individual investors are able to handle severe losses in emerging asset classes and high-risk assets like cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) because…

Bitcoin Price Weekly Analysis: BTC Sellers In Control Below $3,600

Key Points Bitcoin price extended losses below the $4,000 and $3,600 supports against the US Dollar. There is a significant bearish trend line formed with resistance at $3,630 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently consolidating losses above $3,200, with resistances near $3,500 and $3,600. Bitcoin price is in a major downtrend below $4,000 against the US Dollar. BTC/USD may continue to struggle to recover above the $3,600-3,700 resistance zone. Bitcoin Price Analysis This past week, bitcoin price declined below the…

Ethereum Price Weekly Analysis: ETH Remains Sell Near $100

Key Highlights ETH price declined heavily after it failed to break the $125 resistance against the US Dollar. There is a crucial bearish trend line formed with resistance at $101 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair may correct higher, but is likely to face sellers near the $99, $100 and $101 resistances. Ethereum price declined heavily this past week versus the US Dollar and Bitcoin. ETH/USD remains in a downtrend as long as it is below $100 and $114. Ethereum Price Analysis This past…

Bitcoin Cash Price Weekly Analysis: BCH/USD Could Struggle Near $120

Key Points Bitcoin cash price declined heavily and even broke the $100 support against the US Dollar. There is a crucial bearish trend line formed with resistance at $120 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is currently correcting higher, but it is likely to struggle near the $120 resistance. Bitcoin cash price fell sharply below $150 and $100 against the US Dollar. BCH/USD may correct higher in the short term towards $115 or $120 resistance. Bitcoin Cash Price Analysis This past week,…

Why Bitcoin is Not in a Death Spiral, Refuting Reports

Over the past month, many reports about the materialization of a potential “death spiral” on the Bitcoin network were released, leading investors to be concerned about the short-term trend of the dominant cryptocurrency. According to a security expert and cryptocurrency researcher Andreas Antonopoulos, a death spiral is unlikely to happen in Bitcoin. What is a Death Spiral and Why it Likely Won’t Happen On the Bitcoin network, miners find a block filled with transactions every ten minutes. After 2016 blocks are mined, the network automatically readjusts the difficulty of mining…

Traders Cautious as Bitcoin Plunges to a New Yearly Low: Can it Recover?

On December 7, the Bitcoin price achieved a new yearly low, as the valuation of the crypto market fell by $16 billion within a 24-hour span. Bitcoin Price Struggles to Recover from New Yearly Low Bitcoin (BTC) fell to as low as $3,210 on fiat-to-cryptocurrency exchanges like Bitstamp and Coinbase, which led other major cryptocurrencies and low market cap digital assets to fall by around 15 to 20 percent against the U.S. dollar. Since then, the Bitcoin price has rebounded from $3,210 to $3,455, by more than seven percent within…

Bitcoin Avoids Large Drop Below $3k With 7% Recovery, Trend Reversal?

Over the last 24 hours, the Bitcoin price has experienced a seven percent recovery from $3,210 to $3,433, avoiding a further drop below the $3,000 support level. Many traders expected Bitcoin (BTC) to rebound from the $3,000 to $3,300 range because the $3,000 support level has shown strength throughout the past two weeks. Ethereum (ETH) recorded a 15 percent increase from its daily low and ERC20 tokens such as Quarkchain, OmiseGo, and 0x demonstrated gains in the range of 5 to 15 percent, due to the integration of tokens by…

Crypto Exchange Bithumb May Have Propped up Bitcoin Price: Analysts

The bitcoin price touched a fresh yearly low this morning, leaving traders and investors scrambling for answers as the crypto market searches for a bottom. While there are numerous pressures that have weighed on bitcoin as it has taken step after step away from last year’s all-time high, research from CryptoCompare suggests that South Korean cryptocurrency exchange Bithumb may have contributed to the recent sell-off — at least indirectly. According to the firm’s latest CCCACG (short for CryptoCompare’s Aggregate Pricing Index), Bithumb led all crypto exchanges in daily volume from…

Bitcoin Price Eyes Support at $3,000 as BTC/USD Sets New Yearly Low

The bitcoin price on Friday plunged 6.5 percent against the US Dollar, breaking below the flagship cryptocurrency’s previous yearly low at $3,455. The bearish cycle took another turn after the Securities and Exchange Commission (SEC) halted its decision on the VanEck’s upcoming bitcoin ETF once again. The fundamental has been treated as one of the strongest bullish catalysts for the bitcoin market, with many believing that its approval would bring a minimum of $1 billion investment into space. In case the US regulator disapproves it, the market sentiment would be…

Bitcoin Price Watch: BTC/USD Primed To Test $3,000

Key Points Bitcoin price declined further and broke the $3,550 and $3,420 support levels against the US Dollar. There is a major bearish trend line formed with resistance at $3,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to decline further and it may even test the $3,000 level in the near term. Bitcoin price declined heavily below $3,550 against the US Dollar. BTC/USD remains in a downtrend and it could even trade towards $3,000 or $2,800. Bitcoin Price Analysis After forming…