Bitcoin jumped above $9,500 in midday Thursday trading.
The gains sustained on safe-haven bids Friday as tensions between the U.S. and China escalated further.
Beijing moved ahead with its plans to impose a new national security law in Hong Kong, prompting President Donald Trump to hold a press conference on Friday.
A new wave of buying sentiment pushed the bitcoin price above $9,500 for the first time in more than a week.
The benchmark cryptocurrency hit $9,625 ahead of the New York opening bell Thursday. The move uphill appeared alongside early morning gains in the top Wall Street indices. The benchmark S&P 5oo, for instance, rose 3.29 percent on optimism over the easing lockdown measures in the U.S.
SPX closed Thursday 0.21 percent lower after a last-hour selloff | Source: TradingView.com
Nevertheless, the index erased gains in the last hour of trading after President Donald Trump announced that he would hold a press conference about China on Friday. The statement entered wire after Beijing approved the proposal to introduce a new national security law in Hong Kong.
But the news didn’t shake Bitcoin. The cryptocurrency, which was almost moving in tandem with the S&P 500 since March 2020, maintained gains above $9,500, a crucial support level.
A $10,000 Retest
Bitcoin’s latest upside move raised its possibility of retesting $10,000 as its next upside target.
BTCUSD maintaining price floor near $9,500 | Source: TradingView.com
The cryptocurrency maintained a price floor above $9,500 after stocks fell, verifying a short-term break from their correlation. The escalating rift between the U.S. and China spoiled risk-on mood and raised demand for safe-havens.
Bitcoin surged alongside Gold this time, a top hedging asset in times of macroeconomic and geopolitical uncertainty. Investors anticipated negative long-term consequences from a souring U.S.-China relationship.
The sentiment prompted them to seek safety in perceived safe-havens, benefiting both crypto and yellow metal.
Depending on what Trump says in his press conference on Friday leaves both Bitcoin and Gold in a conflicted bias area. In the Bitcoin market, particularly, traders could profit-take the latest rally. The move could lead the cryptocurrency to lower below $9,500.
Meanwhile, if Trump decides to move forward with its proposal to remove Hong Kong’s special trade status – or, for worse, impose sanctions against China, then it could prompt Bitcoin bulls to retarget $10,000 over the weekend session.
Downside Risks for Bitcoin
Even a move towards $10,000 would keep Bitcoin bulls from extending it any further, according to their recent behavior around the level.
Traders continue to sell-off the said top, which also coincides with a 2.5-year-old Descending Trendline (the red line). Since May 6, they have made a total of eight attempts at breaking bullish over $10,000 but failed every time. One of the bearish pullbacks took the bitcoin price towards $8,700.
That said, Bitcoin continues to trade forward in a bias-conflict zone. If it breaks above $10,000, then a rally towards $11,500 looks achievable. Else, a revisit to $8,700, followed by an extended breakdown towards $8,000 looks more likely. origin »
Today is Friday the 13th and only the second occurrence of the eerie date in what has been a cataclysmic year. As the clock turned to the new day, Bitcoin price action retreated slightly for the first time in weeks.
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Something very strange is going on with bitcoin futures to the point on the expiry day, Friday 31st of May, we just copy pasted previous month’s article published on Friday...
Bitcoin Cash (BCH), Bitcoin SV, Cryptocurrency–As the cryptocurrency markets continue to slip into another day of price fall, with headlines across the internet declaring Black Friday savings for Bitcoin and altcoins, the BCH fiasco encapsulated in the recent “hash war” is finally coming to an end.
The Black Friday has reached the virtual currency market. Bitcoin (BTC), Ethereum (ETH) and other virtual currencies are being traded between 5% to 10% lower than 24 hours ago. Bitcoin can be purchased under $4,300 and Ethereum under $125 dollars.
Blockchain’ technology is set to play a key role in the new Lifelong Healthy Life service that launched in beta on Friday. The service, based on the ICONLOOP blockchain and developed in support with LifeSemantics Co.
CoinSpeaker
Bitcoin Sell-out on Black Friday, Buy Your Christmas Presents with Crypto
Black Friday, a shopping event that is very popular in Western cultures, has begun. The shopping event is known for offering big sales the day after thanksgiving and offers shoppers the opportunity to catch bargains while wrapping up christmas shopping early.
CoinSpeaker
Crypto Market Makes a New Low, Is it Right Time to Buy Bitcoin This Black Friday?
While that the crypto market valuation has gone so low, there might be a possible opportunity to dig in.
Despite the plummeting prices of late, Bitcoin Black Friday deals are still plenty online. Discounted timepieces and cryptocurrency wallets flood the market but perhaps the best deal out there is Bitcoin itself.
Crypto Market Establishes New Year-To-Date Low, Ethereum Nears Double-Digits To the dismay of cryptocurrency investors worldwide, while Black Friday, the international embodiment of capitalism, has come ever closer, Bitcoin (BTC), Ethereum (ETH), and a majority of altcoins have continued their leg lower.
The current fall in bitcoin price seems to favor buyers this black Friday, buyers are getting as much as 20% discount in prices. Some crypto exchanges are going as far as giving away free bitcoin to new customers.
CoinSpeaker
On Black Friday Only: Tickets to Blockchain & Bitcoin Conference Philippines for $50
Blockchain Conference Philippines is an event organized by Smile-Expo – the international company which has already held 50 blockchain events in 25 countries.
It appears hackers were able to seize control of the email address of cryptocurrency exchange desk Uphold – and blast its users with a link to a Bitcoin giveaway scam. Scammers sent links to a phishing campaign, designed to dupe naive investors out of their coins.
That special time of year is coming up — the time when individuals trade in their unwanted or unusable gift cards for bitcoin. And with the price of bitcoin dropping, peer-to-peer (P2P) bitcoin marketplace Paxful is making it possible to use these gift cards to “buy the dip.
#GivingTuesday was founded in 2012 in partnership with the United Nations Foundation to celebrate the power of donating. It is marked on the following Tuesday of Thanksgiving, Black Friday and Cyber Monday in the U.
In Kiana’s report today we look for the best bargains in the massive crypto selloff, and identify three two projects that may represent terrific opportunities for the price-conscious investor – and one that we have concerns about.
BLOCK 30 Labs announced on Friday that they are introducing a new index for the digital trading markets. The new index, called the BLOCK 30 index, is one of the pioneering US indices that helps investors to track multiple factors in the market beyond Bitcoin.
On Friday, Nov. 16, the developers behind the full node projects Bcoin and Bcash announced an application that allows users to complete cross-chain atomic swaps between both the BCH and BTC chains.
Greek lore tells the tale of Medusa — a fearsome monster who could turn mortals into pillars of stone, should they be unfortunate enough to gaze upon her. For the digital age, there’s something similar.
An exchange-traded product tracking an index of five leading cryptocurrencies reportedly will start trading on Switzerland’s Six stock exchange next week. The product will be available to both retail and institutional investors.
An exchange-traded product tracking an index of five leading cryptocurrencies reportedly will start trading on Switzerland’s Six stock exchange next week. The product will be available to both retail and institutional investors.
All is quiet – so far – on the Bitcoin Cash front, nVidia’s bet on crypto goes sour, SEC puts Voorhees under the microscope, and Microsoft gets in the game.
Binance, the world’s largest cryptocurrency exchange by daily trade volume announced that it would list the USDC on Friday, November 16 at 10:00 pm Eastern Standard Time (EST). According to the Centre Consortium’s Medium blog post, Binance will open deposits for USDC and will enable trading for two pairs, the USDC/BTC and USDC/BNB.
Shares of Nvidia plunged as much as 17 percent in after-hours trading on the Nasdaq Stock Market on Thursday, after the U. S. bitcoin mining equipment maker reported unexpectedly weak revenue for the third quarter.
In Friday’s edition of The Daily, we look at Bitsane’s decision to list tether (USDT) and trade it against the euro. We also cover two other recent announcements in the crypto-space. Digital asset trading platform Covesting is launching operations in Gibraltar, where it has obtained a distributed ledger technology license.
South Korea’s leading technology university, the Korea Advanced Institute of Science and Technology (KAIST), is working with Theta Labs, the first blockchain-based video delivery system, to introduce students to an entirely new set of coursework regarding the applications of blockchain technology.
Nimiq announces NET token end-of-life: The Last and Final Opportunity Ends on Friday November 30, 2018 (3:00 PM GMT). Surfacing in early 2017, Nimiq is the first browser-based blockchain and aims to be the most accessible, high performance, decentralized payment system.
The U. S. Commodity Futures Trading Commission (CFTC) issued a press release on Friday, November 9, 2018, stating that it had fined Arizona resident Joseph Kim for perpetrating a fraudulent cryptocurrency trading scheme against his former employer and other investors.
FCA AsicTrader Scam The British Financial Conduct Authority (FCA) has been mired in dealing with an uptick in scam artists attempting to take advantage of members of the public and convincing them to part with their funds.
After failing to stabilize above $6,500, Bitcoin has now fallen into the $6,300 region, and it is becoming increasingly likely that it will test its long-established support level that exists at $6,200.
The EOS Referendum Working Group met on Thursday to decide if the new EOS referendum system will get the green signal to launch in beta for testing by the community. On Friday, the group announced that they had secured a “Go” vote for the system after working to fix a myriad of issues that prevented the […]
New EOS Referendum System Goes Live in Beta was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
FOMO Moments Friday markets are still in decline; Zcash and Stellar opposing the drop, Dogecoin and BAT getting dumped. Yesterday’s decline has continued today though its momentum has slowed a little.
The Bitcoin Cash hard fork is not for another week, but Bitcoin Cash continues to outperform. CoinMarketCap shows the cryptocurrency appreciating 10% over the past 24 hours. This one of a number of surges which have taken place since Binance announced their support of the hard fork last Friday.
The People's Bank of China (PBoC), China's central bank, has its eyes on cryptocurrency companies that run airdrop campaigns in the country. In its most recent financial stability report for 2018, which was published on Friday, November 3, 2018, the bank said there has been a surge in the number of "disguised" Initial Coin Offerings (ICO), including the free distribution of crypto tokens through airdrops, despite its effort to clamp down on their activities.
The People's Bank of China (PBoC), China's central bank, has its eyes on cryptocurrency companies that run airdrop campaigns in the country. In its most recent financial stability report for 2018, which was published on Friday, November 3, 2018, the bank said there has been a surge in the number of "disguised" Initial Coin Offerings (ICO), including the free distribution of crypto tokens through airdrops, despite its effort to clamp down on their activities.
The Taiwanese Government recently amended their anti-money laundering and Countering Finance Terrorism (AML/CFT) laws concerning cryptocurrency regulations. According to an Asia Times article published on November 5, 2018, these revisions and changes will give Taiwan’s Financial Supervisory Commission (FSC), the ability to crack down on any anonymous cryptocurrency transactions.
Bitcoin Cash has surged over the past three days after announcements from exchanges that they will be supporting the hard fork of Bitcoin Cash. An official announcement was made by Binance, the largest exchange by trading volume, on Friday that they would be supporting the hard fork of Bitcoin Cash.
The Taiwanese government has amended its laws that regulate cryptocurrency transactions. The revisions reportedly give the country’s Financial Supervisory Commission “the authority to crack down on anonymous virtual currency transactions.
The Taiwanese government has amended its laws that regulate cryptocurrency transactions. The revisions reportedly give the country’s Financial Supervisory Commission “the authority to crack down on anonymous virtual currency transactions.
BitMEX CEO Arthur Hayes said we may not have seen the last of the bearish market for BTC in an interview with Yahoo Finance published Friday. Unfortunately, the entire sector is in a bear market right now, down from a peak of above $800 billion last year.
Dark pool platform Republic Protocol has teamed with crypto custodian BitGo and decentralized liquidity pool Cyber Network to launch a Bitcoin-backed ERC20 token on the Ethereum blockchain. The announcement was made Friday by Republic Protocol CEO Taiyang Zhang via a company Medium post, and has a lot of people in the crypto space already buzzing.
On Friday, Oct. 19, the developers of Bitcoinfiles. com launched the first official version of the product. Now anyone from around the globe can tether a file (5kb or less) to the BCH chain, ensuring its resistance to censorship.
Huobi Global has announced its decision to list four USD-pegged stablecoins by the end of the week. In a support notice published on its platform, the company noted that users will be able to make deposits for Paxos Standard Token (PAX), True USD (TUSD), Circle’s (USDC), and Gemini exchange’s (GUSD) on its exchange starting from Friday, October 19, 2018 (GMT +8).
A woman suing for 62,500 Canadian dollars ($48,125) sent to a phone scammer over a bitcoin ATM has lost her court case, local media reported. On Friday, Charlottetown Provincial Court chief judge Nancy Orr ruled that the fiat money deposited by the woman into the teller machine belonged to Instacoin ATM Canada Inc.
On Friday, October 12, 2018, Gemini announced the addition of Litecoin (LTC) to its trading catalog. Litecoin becomes the fourth cryptocurrency added to the Winklevoss-owned platform. NYSDFS Approval for Litecoin Trading on Gemini Eric Winer, the platform’s VP of Engineering announced the news via a post on the company’s Medium account.
The cryptocurrency markets posted some slight gains on Friday after seeing a massive selloff on Thursday that sent many altcoins down by more than 10% and pushed Bitcoin to its range support at $6,200.
Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a fresh increase in the near term. Bitcoin started a fresh increase from the $94,200 zone.
Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break. Bitcoin started a decent upward move above the $100,000 zone. The price is trading below $103,200 and the 100 hourly Simple moving average.
Bitcoin price settled above the $100,500 resistance zone. BTC is consolidating gains and might aim for a fresh increase above the $105,000 zone. Bitcoin started a downside correction from the $106,800 zone.
Bitcoin price started a short-term downside correction from the $106,250 zone. BTC is consolidating above $100,000 and might aim for a fresh increase. Bitcoin started a downside correction from the $106,250 zone.