Down 36%: Bitcoin Price Faces Worst Weekly Loss Since 2013

With bitcoin prices dropping further early on Sunday, the cryptocurrency now looks to be heading for its worst weekly loss in over 5 years. At press time, the leading cryptocurrency by market capitalization is trading at $3,520 on Bitstamp, representing a 36 percent drop from Monday’s opening price of $5,553. Unless the bulls can pull off a recovery, it’s looking to be the biggest weekly drop since the second week of April 2013, when prices fell 44.8 percent from $165  to $91. For the weekly loss to be confirmed on…

Below $4K: Bitcoin Price Hits 400-Day Lows

The price of bitcoin fell below $4,000 for the first time today since September 27th of last year. At around 16:20 UTC Saturday, the world’s largest cryptocurrency by market capitalization sank to an average price across exchanges of $3,970.43, a figure 7.5 percent lower than the day’s opening price of $4,298.83, according to Coindesk’s Bitcoin Price Index.  At $3,745.89 as of press time, BTC’s price is now down more than $1,700, or 30 percent, in the past seven days alone and 81 percent from its all-time high of roughly $20,000,…

Bitcoin Price Eyes Double Bottom Reversal After $4K Defense

Bitcoin’s defense of key long-term support for the second time in four days is a positive sign for a potential recovery rally. The leading cryptocurrency by market value fell below $4,242 (low of Wednesday’s inside-day candle) in the Asian trading hours, putting the bears back into the driver’s seat. As a result, BTC fell below the 200-week exponential moving average (EMA) of $4,182 earlier today. The breach of the EMA support, however, may have trapped the bears on the wrong side of the market, as BTC is currently trading at…

Lightning-Powered Blog Sees 20,000 Bitcoin Micropayments in 7 Months

Few projects have done as much to explore crypto micropayments as the year-old Yalls blog created by Lightning Labs developer Alex Bosworth. From April through early November, Bosworth said, blog participants have processed nearly 20,000 invoices with the Lightning Network, a bitcoin scaling solution that makes micropayments feasible by keeping them off the blockchain, sidestepping network transaction fees. It costs roughly one cent to read a Yalls article, half a cent to leave a comment on a post, and 10 cents to react to a post with an emoji. Publishing…

$5K Bounce? Bitcoin Price May Have Hit Bottom For Now

Bitcoin (BTC) could be in for a stronger recovery rally in the next few days, having found a temporary bottom near $4,000. The leading cryptocurrency, which hit a 14-month low of $4,048 on Bitstamp yesterday, is now trading at $4,580, representing a 2 percent gain on a 24-hour basis. The $500 recovery seen yesterday indicates that the market is finally paying heed to the record oversold levels reported by the 14-day relative strength index (RSI). Currently, the indicator is still hovering in oversold territory below 30.00. As a result, BTC…

Capitulation? This Bitcoin Sell-Off Still Isn’t as Extreme as 2015’s

A total of $60 billion has been erased from the value of all cryptocurrencies over the last week, a decline that has many wondering if the ongoing bear market for the asset class has finally come to an end. Defined as a period of depressed activity and sentiment, the bear market has seen the price of bitcoin, the world’s largest cryptocurrency, decline more than 75 percent from all-time highs set in January. Further, as bitcoin makes up more than 50 percent of the entire market in terms of total capitalization, it’s safe to…

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…