Effect of CME Futures Options on BTC Price Depends on Halving

CME Group launched new Bitcoin options on Jan. 14, which was revealed by the company’s global head of equity products Tim McCourt. The introduction of crypto options by a derivatives heavyweight in CME will further uplift the institutional infrastructure supporting the asset class. Over the long term, investors generally anticipate improvements in the infrastructure surrounding Bitcoin (BTC) to have a positive impact on the cryptocurrency market. CME Bitcoin options is a net positive for crypto Speaking to Cointelegraph, cryptocurrency technical analyst Eric Thies said that CME options will bring in…

Continued Losses See Bitcoin Erase 40% of Recent Price Rally

Bitcoin’s price pullback has gathered steam in the last 24 hours, erasing a major portion of the cryptocurrency’s recent gains. The top cryptocurrency dived out of the $8,460–$8,750 congestion zone during the European trading hours on Thursday, signaling a continuation of the pullback from Sunday’s high near $9,200. So far, the follow-through to the range breakdown has been bearish. The cryptocurrency fell to $8,230 soon before press time – the lowest level since Jan. 14, according to CoinDesk’s Bitcoin Price Index. Notably, bitcoin has now erased nearly 40 percent of…

Bitcoin Price Rally Falters as Bulls Fight to Hold the $8.3K Support

After three days of trading in a tightening range Bitcoin price (BTC) dropped below $8,300, stopping at $8,264 which is slightly below the $8,300 support and the 200-daily moving average (DMA) at $8,200.  Earlier in the day John Bollinger, the creator of the popular Bollinger Bands indicator, tweeted that the recent pullback should not alarm investors. Bollinger said:  “This is a ‘logical place’ for $btcusd to find support, a pullback to a breakout level and the middle BB.”  Cryptocurrency market weekly overview. Source: Coin360 As mentioned in the previous analysis,…

Ether Price Drop Slashed Valuation of Crypto Valley’s Top 50 Firms by 40%

The combined valuation of the top 50 blockchain-related firms in the Swiss canton of Zug — known as “Crypto Valley” within the industry — fell by nearly half in 2019. Swiss investment firm CV VC debuted a new report at the World Economic Forum in Davos, Switzerland on Jan. 22, giving an appraisal of the blockchain and cryptocurrency industries in the Crypto Valley during the last year. Per the report, the valuation and subsequent price drop in Ether (ETH), the native cryptocurrency of the Ethereum network, led to a 40%…

Bitcoin Price Slides to $8.5K as 200MA Resistance Keeps Bulls in Check

Bitcoin (BTC) dipped below $8,500 on Jan. 23 as traders’ expectations of a slow downtrend from recent highs appeared to slowly come true. Cryptocurrency market daily overview. Source: Coin360 BTC returns to $8,400s Data from Coin360 and Cointelegraph Markets showed BTC/USD reach lows of $8,480 overnight on Wednesday. At press time, Bitcoin hovered at around $8,505. The former level matches two other brief lows seen this week, and represents the bottom of a range the pair has traded in since Jan. 14.  Bitcoin 7-day price chart. Source: Coin360 Over that…

Bitcoin Indicator that Crashed Price to $3.1K Returns: The Dreaded Death Cross

Bitcoin is looking to repeat a technical pattern that crashed its price to $3,120 in late 2018. The leading cryptocurrency by valuation made a rebound from levels near $13,920 during June 2019. It plunged by more than 53 percent in the later sessions, falling to establish a local bottom towards $6,410. Entering January 2020, an upside recovery pushed bitcoin’s rate to a swing top of $9,190. $BTC bulls always have the last laugh https://t.co/it38weJaHz — The Crypto Dog📈 (@TheCryptoDog) January 22, 2020 The latest move uphill improved the cryptocurrency’s interim…

These 3 Reasons Are Why Bitcoin’s Price May Soon Explode Past $10,000

Over the past month, Bitcoin (BTC) has absolutely exploded higher. In fact, the cryptocurrency is up around 40% since the low of $6,400 put in during December of last year. While many analysts have said that this jaw-dropping rally constitutes a macro reversal that will thrust BTC back into a decisively bullish phase, some aren’t so sure. In fact, a number of commentators have suggested that the crypto market’s current price action is eerily reminiscent to that of the middle of July of 2018, which saw Bitcoin see a false…

Top Crypto Analyst Lays This Case for 100% Cardano (ADA) Price Surge

Near the top of the Bitcoin bull market in 2018, Cardano (ADA) was dominating. Everything. Aside from a few select altcoins in Ethereum, XRP, and BCH, ADA was at the top of the market, rallying on a seemingly strong team and the promise of Cardano becoming the next leading blockchain that could service everything and everyone. But, since then, the cryptocurrency has seen quite the fall from grace. Per TradingView data (seen below), the cryptocurrency has collapsed by 96.74% against the U.S. dollar since the all-time high well above $1.…

Bitcoin Price Tightens as Traders Prepare for a Second Shot at $9.2K

After a strong two week performance that saw Bitcoin (BTC) price rise from $7,700 to $9,200, the top crypto asset appears to be consolidating before making another attempt at $9,200. As this process takes place and Bitcoin’s dominance rate dropped slightly, many altcoins rallied with double-digit gains which brought many to test or even push above their 2-year long descending trendlines.  Most notably, the ETH/BTC pair pushed above its long-term downtrend, an occurrence covered in great detail by Cointelegraph contributor  Michaël van de Poppe.  Cryptocurrency market weekly overview. Source: Coin360…