US Stimulus Package Might Cause ‘Modest’ Improvement to Bitcoin Market

The $2 trillion economic stimulus package the United States Congress passed on March 26 might not cause the Bitcoin (BTC) market to skyrocket just yet, but investors could see modest, gradual improvements starting in 2020. Wayne Chen, CEO of Interlapse and founder of virtual currency platform Coincurve, spoke to Cointelegraph on Wednesday regarding the outlook of Bitcoin following measures to help the U.S. economy recover. Stimulus package targeted at those without disposable income Even in the midst of a global pandemic, many crypto traders are expecting Bitcoin to reach all-time…

Decoupling? Bitcoin Price Surges Above $6.7K as Stocks Again Bearish

Since topping out at $6,500 on March 31, Bitcoin (BTC) price had spent the majority of Wednesday in a steady slump which saw the price drop from $6,494 to $6,147. The pullback mirrored the poor performance in traditional markets where the S&P 500 and Dow dropped by 4.41% and 4.44% respectively.  The slump in traditional markets appeared to be a reaction to dismal news that the United States surpassed more than 200,000 Coronavirus cases. Earlier this week the White House also stated that it concurs with the estimate that up…

Bitcoin Forming Another Bullish Breakout Pattern and It Could Rally To $7.2K

Bitcoin is up more than 4% and it broke the key $6,500 resistance area against the US Dollar. BTC price is forming a solid bullish trend and it could soon rally towards $7,000 or $7,200. Bitcoin started a fresh increase after testing the $6,200 support area against the US Dollar. The price is up close to 5% and it surpassed the $6,500 and $6,600 resistance levels. There is a short term contracting triangle forming with resistance near $6,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).…

Ripple (XRP) Signaling Fresh Surge Similar to Bitcoin and Ethereum

Ripple is rising steadily from the $0.1680 support area against the US Dollar. XRP price is likely to rally 3%-4%, similar to the recent move in bitcoin and Ethereum. Ripple price is slowly gaining bullish momentum above the $0.1720 level against the US dollar. The bulls are likely aiming an upside break above the $0.1780 and $0.1800 resistance levels. There is a key bearish trend line forming with resistance near $0.1760 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could dip a few points,…

Bitcoin Rips to $6,750 In Move Reminiscent of Last Year’s 25% April Fool’s Rally

Since NewsBTC’s last market update, Bitcoin has continued to rip higher, recently hitting $6,750. With this, the cryptocurrency is up nearly 9% from the daily lows around $6,200, and up over 16% from the weekend lows at $5,800. Although not on the same magnitude, many have likened Bitcoin’s recent price action to the 25% surge seen on April Fool’s and April 2nd last year, which was a move that kickstarted a rally from the $4,000s to $14,000 by mid-June. Analysts believe that the cryptocurrency could continue higher. Could Bitcoin Continue…

Two Crypto Tokens Beat Bitcoin in Q1 after Jointly Surging 450%

The first quarter left bitcoin under stress as it gave up all its early yearly gains to the fast-spreading Coronavirus pandemic. As of March 31, 23:59 UTC, the cryptocurrency was down by 10.53 percent to $6,424.35 on Coinbase crypto exchange. While bitcoin did not behave like a safe-haven in times of extreme market stress, two underdog tokens emerged as winners. They not only surpassed the top cryptocurrency but outsmarted the global market, including stocks, currencies, and commodities, by returning a combined 450 percent gains to their investors. Crypto Tokens Beat…

Bitcoin Price Fills $6.6K CME Gap as Technical Metrics Flip Bullish

Bitcoin (BTC) delivered few surprises on April 1 as steadier trading conditions prevailed for a third day and volume remained low. Cryptocurrency market daily overview. Source: Coin360 BTC price shoots to plug futures gap Data from Coin360 and Cointelegraph Markets painted a decidedly lackluster April Fool’s Day 2020 for Bitcoin, which since March 30 had traded in a narrower corridor between $6,100 and $6,600. Compared with volatility earlier March, conditions were a relief for traders, while compared with the same time last year, the overall picture remained less enthusiastic. As…

Three Key Reasons Why Bitcoin Could Plunge Below $5,000 in April

Bitcoin prices plunged sharply over the first three months of the year as concerns about the global coronavirus pandemic and its impact on the economy grew. The benchmark cryptocurrency closed the year’s first quarter at a 10.53 percent loss, trading at circa $6,424 on Coinbase as the marked headed into April session. At its lowest, bitcoin was changing hands for a mere $3,858 per token. But its sharp rebound from there led prices up by as much as $6,090. BTCUSD in a giant downtrend cycle | Source: Yahoo Finance The…

Bitcoin Codebase Preserved for 1,000 Years in Archive Under Arctic Ice

A snapshot of the Bitcoin codebase will be encoded onto film reels and stored for a thousand years under the arctic ice in Svalbard, Norway. The move is part of the GitHub Archive Program, with a mission to preserve open-source software, for future generations to learn about the culture of today. GitHub has partnered with institutions such as the Software Heritage Foundation, Arctic World Archive, and Oxford University’s Bodleian Library to ensure the long-term preservation of code, which could otherwise be abandoned, forgotten or lost. With the ephemeral nature of…

Not April Fool’s — Trump Hints at $9 Oil After Accidental Bitcoin Plug

After inadvertently advertising Bitcoin (BTC) last week, United States President Donald Trump has now hinted that he expects oil to crash to just $9. In a press conference on March 31, Trump reiterated what has become a penchant for lower oil prices.  Trump: $9 could “get you what you wanted” He was speaking amid talks with both Russia and Saudi Arabia, both of which plan to increase oil production this month despite the plunge in demand caused by coronavirus. WTI crude prices have lost more than 50% in the past…