|Day's Range||6,733.171 - 6,747.297|
|52 Week Range||5,053.5093 - 12,233.2686|
Bitcoin looks to be on the brink of a major breakout as it coils up just beneath the crucial $7,000 level of resistance. The test of $7,000 comes after a volatile trading session that saw Bitcoin surge from $6,600 to $7,300 before being met with a substantial sell-off. Bearish pressure eventually pushed price back below $6,800, although a bounce this morning has lifted it back into a bullish posture. If Bitcoin can close Friday's daily candle and Sunday's weekly candle above $7,150 it would confirm a bullish breakout, which would pave the way towards continuation to the upside. Potential targets begin to emerge at both $7,400 and $7,850 if a breakout is to come into fruition, while a rejection from
Thesis, the team behind the Keep protocol, has secured $7.7 million in a fresh funding round as the company is set to launch tBTC v1 on April 27.The post Venture production studio Thesis closes a $7.7 million funding round as it prepares for tBTC's launch in April appeared first on The Block.
Bitcoin has stunned critics this morning as it dusted itself off with a staggering 6.22% rally to the upside. At the time of writing it is trading at around $6,680, just below the level of resistance at $6,850 which was tested on numerous occasions throughout March. A breakout and daily candle close above $7,000 would invalidate any bearish theories about Bitcoin over the coming weeks as it looks to climb back to the $7,800 mark. However, Bitcoin was rejected from $6,850 on March 20 and again on March 25, with price proceeding to fall by 20% and 16% respectively. While it's true that a level of resistance becomes weaker upon every test, another rejection here would almost certainly confirm continuation
The recent daily death cross on the Bitcoin chart is beginning to rear its ugly head after the world's largest cryptocurrency by market cap failed to breakout above $7,000. Trade volume has dropped off significantly over the past fortnight, averaging around $30 billion per day despite regularly topping $70 billion earlier in the month. The apparent lack of interest will undoubtedly be a cause for concern for bullish Bitcoin investors, especially considering its failure to break above $7,000 after March 13's sell-off. One glimmer of hope for Bitcoin's tribal followers is the upcoming halving event, which will see block rewards for miners slashed from 12.5BTC per block to 6.25BTC per block. This has historically been a bullish event for cryptocurrencies
It’s a bearish start to the day, with the bears in control following the March sell-off. A Bitcoin move through to $6,440 would signal a rebound.
Lightning Labs has unveiled a new authentification protocol, the Lightning Service Authentication Tokens (LSAT) protocol, that would allow businesses to offer paid APIs on the Lightning Network. The post Lightning Labs unveils authentication protocol that lets providers offer paid, metered APIs on the Lightning Network appeared first on The Block.
HIVE Blockchain Technologies, a Canada-based publicly-traded ether (ETH) mining firm, is diversifying into bitcoin mining operations.The post An ether mining firm is acquiring a bitcoin mining facility for $2.8M appeared first on The Block.
Opera’s Andriod browser has expanded its crypto buying feature for all 27 EU countries, as well as four more nations - Australia, New Zealand, Mexico, and Switzerland.The post Opera expands its crypto buying feature for the entire EU and four more countries appeared first on The Block.
The current sentiment of the cryptocurrency market is exhibiting “extreme fear,” according to Crypto Fear & Greed Index by Alternative.me.The post Crypto investors exhibit ‘extreme fear,’ similar to 2018 crash situation appeared first on The Block.
Blockstream and Lightning Labs are the two firms currently leading the funding for open-source bitcoin and lightning development, according to data compiled by BitMEX.The post Bitcoin development funding is led by Blockstream and Lightning Labs, says BitMEX appeared first on The Block.
Amid the current financial crisis, bitcoin has yet to prove itself to be the “safe-haven” asset that many claim it to be. In fact, research by The Block shows that bitcoin has been relatively correlated to the equity market.The post Bitcoin remains correlated to the equity market amid the ongoing financial crisis appeared first on The Block.
Dante Federighi, a nominee for CME Group’s upcoming board directors election, has proposed that the company should start mining bitcoin and other cryptocurrencies to create new revenue streams for shareholders.The post CME Group board of directors nominee says the firm should start mining bitcoin appeared first on The Block.
While the entire planet plunges into self-isolation, New York becomes the “new Wuhan”, and leading central banks are trying to open up all available cranes to maintain liquidity, the crypto market froze in indecision.
Bitcoin’s mining difficulty, an indicator of competition among bitcoin miners, has seen the second-largest decline in the network’s history.The post Bitcoin’s mining difficulty sees the second-largest drop in history appeared first on The Block.
Bitcoin has positioned itself back in the control of bearish traders after being rejected from the $7,000 level of resistance for the third time in as many days. After tapping $6,980 Bitcoin proceeded to fall dramatically, sliding all the way down to $6,460 before floating back to the $6,650 level. It's worth noting that $7,000 has been a historical level of support and resistance dating back to the 2018 bear market, with it also providing support throughout November and December. A breakout above this level would undoubtedly be violent with several analysts suggesting that a move back into the $8,000 region leading up to May's halving event could be on the cards. The Bitcoin halving has been covered extensively by
The announcement from the US Federal Reserve yesterday of unlimited quantitative easing created a record day for the price of gold. Long seen as a hedge against irresponsible economic policy, gold railed 6.8% to a price of $1,567. The increase in gold price of $83 was the largest since records began in 1984. Record breaking The price of gold has not seen highs of $1,700 since 2012 but there appears to be strong chance it could reach that level in the coming months, if not weeks. QE Infinity not going down so well? pic.twitter.com/mts9NMYPEq -- Stacy Herbert (@stacyherbert) March 24, 2020 Alternatively, stocks did not react well to the Federal Reserve’s announcement. Rather than rebounding they had another poor day,
eToro analyst and cryptocurrency expert, Simon Peters, has described the potential impact of the Federal Reserve's QE on Bitcoin. On Monday the Federal Reserve announced a plan to unleash "unlimited quantitative easing" to boost the US economy after its coronavirus-related plunge. Understandably, this had a huge impact on all global markets, with the S&P500 rallying by 7.75% from a low of 2169.5. Bitcoin also experienced a boost at the hands of the Federal Reserve as it surged significantly on Monday with continuation going into Tuesday. “Bitcoin rose by 11% yesterday, currently at around $6,700, following the US Federal Reserve's announcement on unlimited QE to help reduce the economic impact of the Covid-19 pandemic." said Simon Peters, eToro analyst. “This effectively
Bitcoin is approaching the critical $6,800 level of resistance after surging by more than 15% in the past 24 hours. The tremendous move to the upside will come as a surprise to the majority of Bitcoin traders, many of whom have been suggesting that a continued correction to the $3,000 region was on the cards. Bitcoin isn't out of the woods just yet, it needs to demonstrate strength by closing this evening's daily candle above $6,800, which became a point of rejection on Friday. After failing to achieve a new high on Friday, Bitcoin proceeded to plunge by around 20% to the $5,700 before enjoying a period of consolidation. It's worth noting that the daily MACD indicator has printed a
Crypto exchange Bitfinex is set to further delist 87 trading pairs due to low levels of liquidity.The post Bitfinex to further delist 87 trading pairs amid low liquidity appeared first on The Block.