Bitcoin Price Now On Pace to Post Worst Month in 2018

Bitcoin’s drop to 13-month lows has likely put the cryptocurrency on the path to post its worst monthly loss of 2018. The leading cryptocurrency is currently trading at roughly $4,700 – down roughly 26 percent from the monthly opening price of $6,320 – according to CoinDesk market data. As of now, November is the second-worst month of 2018, the first being March with a 32 percent price drop. November, however, would take the top spot if prices find acceptance below $4,200, pushing the monthly loss above 32 percent. Indeed, BTC…

Bitcoin Price Drops to $4,200 Despite Record Low On RSI

Bitcoin’s price continues to slide despite the oversold conditions signaled on the technical charts for the last six days. The leading cryptocurrency by market capitalization fell to $4,200 soon before press time – a price low not seen since Oct. 5, 2017 – and was last seen trading at $4,484, according to CoinDesk’s Bitcoin Price Index (BPI). Notably, the 14 percent drop witnessed in the last 24 hours has pushed the widely followed 14-day relative strength index (RSI) below 10.00, its lowest reading on record. An asset is considered to…

Below $5K: Bitcoin Drops $500 to Set New 2018 Low

Bitcoin dropped below $5,000 for the first time in over 13 months on Monday. CoinDesk price data reveals the world’s largest cryptocurrency by market capitalization fell to $4,981 shortly after 16:30 UTC on Monday, signifying a dollar-decline of more than $500 for the day when the move occurred. That’s the lowest figure since Oct. 12, 2017, and as of press time, the price has recovered somewhat to $5,048 – still signifying a decline of more than 9 percent.  The broader cryptocurrency market accompanied BTC in its steep sell-off and has shed…

Bitcoin Price Hits 13-Month Low as Crypto Market Slumps

Bitcoin (BTC) dropped to its lowest level since October 2017 on Monday, amid a broader period declines for the world’s top cryptocurrencies. The leading cryptocurrency fell to $5,165 earlier today – the lowest level since Oct. 18, 2017 – having breached the crucial support of $6,000 last week. As of writing, BTC is changing hands at $5,283 – down 5 percent on a 24-hour basis and 16 percent week-on-week – according to CoinDesk’s Bitcoin Price Index (BPI). Further, the year-on-year loss now stands at 32 percent, as prices were trading well…

Bitcoin Drifts Down as Price Breaks Below Key $7.8K Support

Bitcoin bears may be in the midst of taking an upper-hand. At press time, BTC is changing hands at $7,536 on Bitfinex, down 6.9 percent on the day, a figure that also finds the price breaking a key support level at $7,800. The world’s largest cryptocurrency by market capitalization has been largely confined to a narrow price range of $7,673–$7,800, since it broke $8,000 yesterday. However, mounting sell volume continues to apply downward pressure, presenting a bleak outlook for bulls looking to take back the reins. As such, bulls now are looking…

Indicator Suggests Bitcoin’s $8K Rally Is Overstretched

Bitcoin (BTC) market has had a bullish start to the week, but the momentum could wane in the next few days, technical studies indicate. The leading cryptocurrency rose to a fresh two-month high of $8,130 on Bitfinex today, having witnessed an inverse head-and-shoulders breakout last week. The 39 percent rally from the seven-month low of $5,755 reached on June 24 has put the bulls back in a commanding position. Hence, further gains could be on the cards, albeit after a brief pause or a price pullback as a key technical…

Bitcoin Price Climbs Back Above $8k to Reach 60-Day High

Bitcoin’s price has climbed back above $8,000 for the first time in two months. According to CoinDesk’s Bitcoin Price Index, the price of the world’s largest cryptocurrency by market capitalization jumped by $200 in just two hours on Wednesday and is changing hands at $8,015 as of press time – that’s a level not seen since May 24. The price of bitcoin had been declining since May 24 and reached a new year’s low at $5,785 on June 24, after which it started regaining momentum for a move back above…

Bitcoin Price Hits Two-Month High as Dominance Rate Spikes

Bitcoin’s (BTC) price clocked a two-month high of $7,820 today and looks set to extend gains further, a key cryptomarket gauge indicates. CoinMarketCap’s bitcoin dominance rate, an indicator that tracks the percent of the total cryptocurrency market capitalization contributed by the leading cryptocurrency, rose to 46 percent today — the highest level since December 20 — adding credence to BTC’s 20 percent rally seen in the last seven days. To start with, a rise in the BTC dominance rate essentially means the number one cryptocurrency is more in demand compared to the…

Crypto Trading 101: Stochastic Oscillators and Price Momentum

You may have heard of a lagging or leading indicator before. Maybe your friends have tossed around terms like bullish or bearish divergences, oversold or overbought conditions and what signals you should use to enter or exit the market. While there are many tools that can assist with this, one often overlooked indicator is called the stochastic oscillator. Nothing unique to the world of blockchain, the stochastic is a momentum indicator that compares the closing price of the asset with its high-low range over a certain period of time, it’s…

China’s Crypto Millionaires Are Using Bitcoin to Buy Real Estate Abroad

The chives growing in one crypto tycoon’s California mansion carry a hidden message. Guo Hongcai, a beef salesman turned early bitcoin adopter from China’s Shanxi province, is one of many freshly minted millionaires funneling parts of their wealth out of the country by purchasing real estate abroad. In April, Hongcai sold 500 bitcoin in the U.S. then used that money to buy a 100,000-square-foot mansion in Los Gatos, a 90-minute drive from San Francisco, California. His Rolls-Royce, also purchased with the fruits of bitcoin arbitrage, sits in the driveway close…