Bitcoin at Potentially Significant Turning Point: $9,000 Holds The Key

Bitcoin declined sharply after it faced a strong rejection near $9,200 against the US Dollar. BTC is still holding the $9,000 support, below which there is a risk of a sustained decline. Bitcoin fell sharply below $9,000, but it recovered quickly from the $8,914 swing low. The price is now facing a major resistance near $9,100 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $9,120 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could…

This Unexpected Metric Shows That Crypto Is in a Booming Bull Market

It’s been hard for some to say that crypto is in a bull market. Despite Bitcoin rallying by over 150% from March’s $3,700 lows, it remains below crucial resistance levels at $10,500 and beyond. The same can be said about Ethereum, which has had similar trouble surmounting $250. Yet there are some early signs that the cryptocurrency market is finally entering a bull phase. And one such sign that a prominent industry executive mentioned is rather unexpected. Related Reading: Crypto Tidbits: Bitcoin Stalls at $9k, Cardano Shelley, Elon Musk &…

Bitcoin Is the ‘New’ Apple — How BTC Price Could Reach $60,000 by 2023

In 1962 sociologist Everett Rogers published the well-known book Diffusion of Innovations in which he classified consumers in the following five groups: Innovators, Early Adopters, Early Majority, Late Majority, and Laggards. Adoption Curve. Source: Business-to-you Since its creation, the above chart has become widely used among many industries, although new technologies have better synthesized such research. The graphic flawlessly describes how each group’s psychological profile reflects on consumer habits and how they approach innovative products and services. One of the most important areas to note is the clear breaking point…

Expedia Partners With Crypto Service Travala.com for Crypto Bookings

Expedia now allows its over 700,000 accommodations to be booked with cryptocurrency through crypto travel platform Travala.com. According to an announcement shared with Cointelegraph by Travala.com on July 6, the firm added over 700,000 accommodations to its crypto-powered travel platform’s already over 2 million options available in 230 countries. Senior Vice President at Expedia Group Alfonso Paredes said that the company aims to scale up Travala.com’s business faster than it did expand so far. Furthermore, he said that the firm also recognizes innovation and the importance of allowing users to…

“No Position Is the Best Position,” Says Bitcoin Trader as Price Stagnates

From a macro perspective, Bitcoin has basically flatlined. If you’ve followed the cryptocurrency market over the past few weeks, you probably know this. But BTC’s boring price action is a point worth repeating. Just look at the image below shared by a cryptocurrency technician and trader. It shows that the three-day Bitcoin historical volatility index (as per BitMEX market data) is at lows not seen since March/April of 2019. For those that missed the memo, a reminder: Bitcoin traded in a tight consolidation from December 2018 to March 31st, 2019…

Why an Analyst Isn’t Convinced Bitcoin Established a Top at $10,500

Many traders have argued over recent weeks that Bitcoin’s recent price action resembles a textbook top. As NewsBTC has covered extensively, there are a number of signs to corroborate this sentiment: Yet a trader has argued that Bitcoin topping at current prices doesn’t make any sense to him. Here’s why. Related Reading: Nearly Half of Crypto Twitter Doesn’t Think Bitcoin Will Hit $50k in 2021 Did Bitcoin Really Establish a Top at $10,500? A cryptocurrency market technician shared the image below on July 5th, showing that if Bitcoin tops here,…

Enterprise Friendly Blockchain Tapping Into Wine Supply Chain Business

Tampering, theft and counterfeiting have caused the wine industry millions of dollars in lost revenue. Symbol, an enterprise-friendly blockchain project from the NEM ecosystem is now providing blockchain technology amid further frauds in wine productions, according to a blog post published by NEM on July 4.   Symbol reportedly developed a blockchain solution that can trace and verify a large number of transactions per second. This can help wine growers and producers keep track of what’s happening with their raw materials and products at every stage of production and distribution.  Data…

Bitcoin Just Plunged Under $9,000: Here’s What Analysts Are Saying

Bitcoin has collapsed under $9,000 for the umpteenth time in the past few weeks. Minutes ago, the leading cryptocurrency slipped under $9,000 for the second time in the past week. As of the time of this article’s writing, BTC trades for $8,960, having bounced $50 or so from the daily lows. Bitcoin price chart from TradingView.com Bitcoin slipping under $9,000 comes ahead of the weekly candle close and a few days after the monthly candle close. Considering the timing of this drop, it may suggest that investors expect the S&P…

Hodler’s Digest, June 29–July 5

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bored with Bitcoin? This price level is key for a big breakout It has been a sleepy week in the crypto markets — and there’s barely been any movement in Bitcoin. At the time of writing, BTC is down 0.75% compared with where it was…

3 Reasons Why Bloomberg Calling Bitcoin a ‘Resting Bull’ Is Inaccurate

Bloomberg senior commodities strategist Mike McGlone recently released a midyear crypto outlook, which states that Bitcoin volatility should continue to decrease as the asset behaves more like gold. The report also says that primary demand and adoption indicators remain positive. The report concludes that Bitcoin is set for a breakout with a target at the $13,000 resistance. Although this perspective is defensible, the arguments presented in the article seem flawed. Correlation metrics for the past six months have drawn Bitcoin away from gold’s hedge status, as it has been trading…