Bitcoin Explodes 15% to $6,350, Price Decoupling From S&P 500

2020-3-20 19:42

Since our last market update, the Bitcoin price has continued higher, with the rate of growth exploding so far that the price of the cryptocurrency has gone vertical, briefly tapping $6,375 just minutes ago. At that price, BTC was up 15% on the day, easily outperforming the American stock market indices of the S&P 500 and the Dow Jones, which have posted slight gains (of 1% to 2%) on the day. $6,410 Is Key For Bitcoin Although bullish, Bitcoin has yet to make it past $6,410, a key level. As pointed out by cryptocurrency trader Smack, there is a confluence of resistance at that exact level: the top of the four-hour and six-hour Ichimoku Cloud, the exact bottom of the 2019 retracement on BitMEX, and the middle band of the volume profile, meaning that this level is one of BTC’s most important price points. If we break upwards, I have my eyes set on 6410 for a rejection. A LOT of confluence at that exact level. #BTC pic.twitter.com/1bYdemq6Dd — Smack (@SmackTrades) March 19, 2020 Bitcoin breaking this level may confirm that there’s more upside in store for this market, though it seeing a rejection at $6,400 may be indicative of further downside. Trend Is Getting Bullish The trend is getting bullish, though. Analyst Galaxy noted that a trend indicator that nailed the $6,400 bottom in December, then predicted a retracement when BTC was trading at $10,000, has just printed a buy signal for the first time since December. This would suggest a reversal is underway. Not to mention, there are many fundamental reasons to be bullish on Bitcoin. Hunter Horsley, CEO of Bitwise Asset Management, shared a few: Bitcoin has started to decouple from traditional markets, proving that it may act as a safe haven in the ongoing crisis. 72% of Coinbase clients are buying BTC, per data from the company itself. The Bitcoin block reward halving is 50 days away. Billions of dollars may return “when levered longs return.” Central banks have printed trillions worth of dollars to stimulate the economy, setting the stage for inflation that may benefit cryptocurrency. HUGELY bullish dynamics for Bitcoin right now: – BTC flat during HISTORIC risk-off days in markets. – 72% on Coinbase buying. – The Halvening is 50 days away. – Billions in buys coming when levered longs return. – And if 1% of >$2T+ of stimulus finds its way to Bitcoin… — Hunter Horsley (@HHorsley) March 18, 2020 Featured Image from Shutterstock

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 98514.61 (-0.35%)
Объем 24H $103.049b
Изменеия 24h: 4.73 %, 7d: 11.25 %
Cегодня L: $94006.77 - H: $98752.04
Капитализация $1949.166b Rank 1
Цена в час новости $ 6586.88 (1395.62%)

price bitcoin growth far exploding gone minutes

price bitcoin → Результатов: 126


Фото:

Bitcoin Price To See 70%+ Powerful Bull Wave To Push It Over $100,000, How High Can It Go?

The Bitcoin price is slowly breaching the $70,000 mark, showcasing steady upward momentum despite downward pressure from the bearish performance of the US equities market. Taking note of Bitcoin’s recent price movements, a crypto analyst has suggested that the pioneer cryptocurrency could be gearing up for a strong bull wave that could drive its price by over 70%, pushing it past the $100,000 milestone.

2024-10-26 04:00


Фото:

Analysts Predict Bitcoin Price Could Crash To $40,000, But There’s Good News

Despite initial expectations of a steady price increase and a robust bull run this year, Bitcoin (BTC) has suffered severe declines, pushing its price below the $60,000 threshold. Due to the cryptocurrency’s prolonged bearish performance, a crypto analyst has warned that Bitcoin could decline even further, predicting a potential crash below $40,000.

2024-9-4 22:30