Bitcoin Shows Signs of Stalling After Reaching Descending Resistance

On July 8, the Bitcoin (BTC) price broke out from a descending channel that had been in place since June 1. However, the price has stalled around the breakout level, raising concerns for the possibility that the breakout was not legitimate and the price will soon reverse its trend. Bitcoin Channel Breakout The Bitcoin price […]

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More Pain for Bitcoin as Citigroup Warns S&P 500 May Fall by 10%

Bitcoin expects to go through a shaky third-quarter on growing worries about a stock market correction. Citigroup sees the S&P 500 rally to drop by at least 10 percent from its current levels, with a worst-case scenario predicting a 20 percent or more decline for the US benchmark index. The monthly correlation between Bitcoin and […]

Bitcoin Attempts to Break Through Crucial $9,300 Resistance

The Bitcoin (BTC) price increased considerably on July 6, creating a bullish engulfing candlestick with considerable volume. This caused the price to move all the way to an important resistance area, a breakout above which would be a major bullish development. Bitcoin’s Bullish Engulfing Candlestick On July 6, the Bitcoin price increased considerably, going from […]

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Bitcoin’s Average Transaction Fee Rose 647% Following Last Halving

Data for Q2 2020 shows the cryptocurrency market thriving, with Ethereum leading a price rally and Bitcoin showing solid network activity following its last halving. Overall trading may have reduced, but the market has grown greatly since ‘Black Thursday.’ Cryptocurrency market data platform CoinGecko has published a new report that covers the progress the market […]

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