Tag: Price

Bitcoin Price Shows Green Again After $6K Defense

Bitcoin’s (BTC) sharp recovery from two-week lows hit yesterday has raised the odds of a stronger rally towards $6,400, technical studies indicate. As of writing, the leading cryptocurrency is changing hands at $6,245 on Bitfinex. BTC was expected to drop below $6,000 in the last 24 hours as the bears were on the offensive following an inverted flag breakdown. However, the intraday oversold conditions likely put a floor under bitcoin prices at the two-week low of $6,080, helping it chart a solid rebound to $6,283 (today’s high). While it is…

Bitcoin Price Defends $6K As Upside Potential Builds

Bitcoin (BTC) may be up slightly at the start of Friday’s session, but it remains to be seen if it can build traction above $6,000. The world’s largest cryptocurrency by market capitalization is now down 37 percent from its May 5th high at $9,996 according to CoinDesk’s Bitcoin Price Index, though it’s rebounded to a crucial support zone at $6,235, according to Bitfinex data. The figure is notable, as it could be argued bitcoin needs a daily close above the previous low at $6,070 to abort bearish outlook for the coming…

Bitcoin Price Puts Bull Move on Hold as Downside Risks Grow

Bitcoin (BTC) traded largely sideways over the last 24 hours, though a dip soon before press time may threaten a developing bullish chart pattern if the price moves below $6,000. BTC’s drop below the 10-day moving average (MA) on Tuesday neutralized the immediate bullish outlook and shifted risk in favor of a sell-off to $6,000. However, the cryptocurrency defended $6,300 yesterday amid intraday oversold conditions, establishing the round figure as a key short-term support. But, the resilience failed to entice bulls, rather a long liquidation (unwinding of long BTC trades)…

Bitcoin Price Spikes to Nearly $9K on Little-Known Crypto Exchange

For a cryptocurrency exchange that has seen its bitcoin price trade at a market premium since launch, the spike to nearly $9,000 on the WEX exchange on Wednesday was an outlier. Some background: in July of last year, U.S. and international law enforcement took aim at BTC-e, the long-running – and long-mysterious – cryptocurrency exchange. In a dramatic turn, a Russian national and one of BTC-e’s suspected employees was arrested and charged with laundering billions of dollars while American regulators moved to slap the exchange with a massive $110 million…

Bitcoin’s Price May Be Charting a Bull Reversal

Bitcoin (BTC) price could create a major bullish technical pattern in the next few days, technical charts indicate. It’s a slightly confusing picture at the moment, however. The recent short-term bullish bias has been neutralized following BTC’s close below (as per UTC) the 10-day moving average (MA) yesterday. Further, the risk of a deeper pullback to $6,000 (February low and psychological support) look to have increased after Tuesday’s 5.7 percent price drop. However, that does not necessarily mean the bears are back in a commanding position, since the cryptocurrency is…

Bitcoin Bull Bias Fades as Price Drops Below $6.5K

Bitcoin (BTC) is on the defensive today and could suffer deeper losses in the next few days should the bulls fail to defend the key moving average (MA) support, the technical charts indicate. The leading cryptocurrency looked vulnerable to a pullback 24 hours ago, courtesy of the signs of bullish exhaustion near key resistance of $6,800. Hence, the drop to $6436 seen today is not surprising, but has certainly boosted the odds of a close (as per UTC) below the all-important 10-day moving average (MA). It is worth noting that…

Kraken Strikes Back at Tether Price Manipulation Claims

Cryptocurrency exchange Kraken is calling foul on allegations that its tether (USDT) markets are frequently characterized by trading activity commonly associated with wash trading and other forms of market manipulation. Last week, Bloomberg published an investigative report examining trades involving tether, a “stablecoin” allegedly backed by physical U.S. dollars at a 1:1 ratio. Controversy has long swirled around USDT — as well as its creator, the Caribbean-based Tether — with critics levying accusations that Tether operates a fractional reserve, using un-backed tokens to manipulate the bitcoin price. Tether’s recently-released “transparency…

Augur Price Scales the Charts as Mainnet Launch Looms

The augur price embarked on a double-digit percentage rally on Thursday as the project gears up for its mainnet launch in early July. Augur Price Posts Double-Digit Rally It was another day of sideways trading for the cryptocurrency markets, with the ecosystem’s total market cap adding about $400 million over the past 24 hours. Nevertheless, there were a few standouts on this otherwise-placid day, the most notable of which was augur (REP). The augur price rose more than 12 percent against the dollar for the day, bringing it to a…

EOS Price Bounces as Creator Proposes Scrapping Constitution

The EOS price headlined the large-cap cryptocurrency index on Wednesday after one of its chief architects proposed scrapping its controversial constitution and replacing it with a new one. EOS Price Leads Large-Cap Index Overall, the cryptocurrency markets held relatively stable for the day, with the aggregate market cap dropping by about $1.2 billion over the past 24 hours. Against this backdrop, the EOS price managed to mount a 5.4 percent recovery. At present, EOS is trading at an equivalent of $8.13 on Binance, with a circulating market cap of $7.3…

Ethereum Classic Price Defies Bear Market in Single-Day Rally

The ethereum classic price continued its inexorable rise on Thursday afternoon as it reached $17.71 on cryptocurrency exchange Binance — a single-day increase of 7%. There could be several factors which are affecting this price movement. The principal one is the listing on Coinbase, which was something of a surprise when it beat other contenders such as Ripple’s XRP token to the finishing line. Turnover has also increased quite substantially in the past days where the price climbed from a low of around $13.50 to $17.74 of now and appears…