It now appears that Bitcoin (BTC) bulls have been able to gain the upper hand over bears in the time following the intense volatility that the asset incurred early this week during its sudden “flash crash” that caught investors off guard.
Because BTC is now slowly climbing back up towards the coveted five-figure price region, it does appear that it is shaping up to once again see a sharp upwards movement that leads it past the resistance it faces at $10,000.
In the near-term, analysts believe that the crypto’s defense of key support may be a bullish sign, leading one top trader to anticipate the ongoing BTC uptrend to continue strong in the near-term.
Bitcoin Inches Higher as it Nears Key Resistance at $10,000
Bitcoin bulls were taken aback early this week when the cryptocurrency plummeted from highs of $10,200 to lows of $9,200, before rapidly climbing back into the mid-$9,000 region.
This sharp selloff seemed to spell trouble for the cryptocurrency, and it even marked the fifth largest single hour selloff (in dollar terms) that Bitcoin has seen throughout its decade-long history.
Now, however, Bitcoin has begun climbing back towards $10,000, and it is currently trading up just over 1% at its current price of $9,700.
George, a popular crypto trader on Twitter, recently explained that he is watching to see how Bitcoin reacts to some resistance it faces at roughly $9,730, with a decisive break above this level opening the gates for a sudden movement up towards its next resistance at $9,960.
“BTC: Last weeks low reclaimed, I’d like it to hold here. Next step reclaiming our range low for further upside towards the weekly open / mid range. I like what I see so far,” he explained.
$BTC
Last weeks low reclaimed, I'd like it to hold here. Next step reclaiming our range low for further upside towards the weekly open / mid range. I like what I see so far. pic.twitter.com/KPO7x7cW1Z
— George (@George1Trader) February 21, 2020
Will BTC’s Mid-Term Uptrend Extend Much Further?
Following this week’s flash crash, many analysts had noted that it fundamentally altered Bitcoin’s bullish market structure, potentially signaling that it wouldn’t be able to continue climbing back up towards its all-time highs.
In spite of this, Crypto Bullet – another popular crypto trader – explained in a recent tweet that this latest movement to below $10,000 doesn’t give any reason for investors to panic, as it is just a “healthy pullback.”
“BTCUSD 1D update: As long BTC stays above this support area I don’t see any reason to panic. So far it’s just a healthy pull back. If we fall below we will get a great entry,” he explained.
$BTCUSD 1D upadte
As long $BTC stays above this support area i don't see any reason to panic.
So far it's just a healthy pull back.If we fall below we will get a great entry!#bitcoin #crypto #trading pic.twitter.com/YyJ5KbB07S
— crypto bullet (@SilverBulletBTC) February 21, 2020
Whether Bitcoin is able to surmount its near-term resistance and begin climbing higher should provide some insights into the current strength of its 2020 uptrend.
Featured image from Shutterstock. origin »
Bitcoin witnessed a precipitous flash crash today as it fell from $44,000 to reach as low as $40,660 – representing a 7% flash crash. The cryptocurrency rolled over in the early Asian trading hours after failing to break the February 2022 resistance at $44,750 over the weekend.
It seems that Bitcoin bears are finally getting some time to shine. After the 4% flash crash and 3% flash recovery seen earlier today, BTC continued to trend lower, pushing to $9,800 as of the time of this article’s writing.
Just as Bitcoin (BTC) trading was becoming ‘boring’, a flash crash has erased as much as $500 in rapid-fire selling. Byte Tree CEO, James Bennet, says that this sudden decline was the result of a significant drop in network velocity.
Crypto exchange Poloniex has announced it will repay trading fees in bitcoin to investors who lost funds when the exchange's CLAM margin trading market experienced a flash crash on May 26.
Traders on Poloniex have started receiving refunds of the funds they lost in May after the platform experienced a flash crash involving CLAM. The announcement that the exchange has started crediting accounts belonging to lenders with the funds they lost came through an official blog post.
Cryptocurrency exchange Poloniex has announced a new scheme to reimburse users affected by an unexpected “flash crash” that saw 1,800 BTC ($20 million) wiped from its margin trading lending pool in May.
Youch. On Saturday, Bitcoin (BTC) was subject to the umpteenth flash crash in the past few weeks. Within a few minutes’ time, the cryptocurrency had shed $500 — around 4. 5% — to lose the key support of $11,800.
Overnight, the bitcoin price flash crashed to $9,100 across major crypto exchanges in the likes of Bitstamp and Coinbase, dropping by nearly seven percent against the U. S. dollar. The bitcoin price flash crashed to $9,100, recovered beyond $9,500 within minutes (source: coinmarketcap.
The bitcoin price correction appears to be deepening as the bears ramp up the pressure and the selloff continues. There has been no attempt at recovery from the weekend rout that resulted in BTC losing another thousand dollars.
The bitcoin price dropped almost $400 in a matter of minutes on Sunday evening before immediately paring losses. The flash crash and quick recovery is an obvious sign of bitcoin whales playing mind games.
In the last few hours, the market has experienced a flash crash. Within a couple of minutes, the market has wiped out a couple of billions. The drop has seen nearly all cryptocurrencies turn red as well as drop below key supports.
Bitcoin has been struggling to regain the bullish momentum its enjoyed for the bulk of 2019. Ever since December 2018 when Bitcoin price bottomed, it has mostly been on an upward ascent until it met former bear market resistance at $13,800 and it resulted in a nasty rejection and flash crash that put the entire.
BitMEX, the most liquid exchange on the market is being accused of market manipulation (again). Was Arthur Hayes’s exchange the orchestrator of the latest flash crash? Market Manipulation Behind the Latest Spiral It’s been a harrowing week for Bitcoin bulls as the markets peaked at over $13000 last Wednesday and have stepped down a little further almost each day since.
Bitcoin investors are paying more per coin than at any time in history – despite the Bitcoin price dropping to half its all-time highs. Bitcoin Realized Cap Hits $93 Billion That was the conclusion in new analysis of an underreported metric this week, which casts light on genuine consumer interest in Bitcoin.
After a strong rejection at $14,000, Bitcoin’s parabolic rally has been cut short, and the leading crypto asset by market cap is taking a much needed pause and correction after bringing investors over 300% gains since the start of 2019.
Bitcoin is yet again at a critical inflection point, where the days ahead may determine the trend for the coming months and potentially years in the crypto market. After a flash crash stopped Bitcoin’s parabolic advance short ahead of setting new all-time highs, many fear that the rally may be ending and will test lows.
All eyes have been on bitcoin recently as markets move into a consolidation phase following a flash crash last Thursday. What may have gone unnoticed is the issuance of more USDT as Tether market capitalization continues to crank higher.
On Wednesday, June 26, the price of BTC came close to reaching $14K. One hour later, it had dropped by close to 18%. Such events are known as a flash crash, a moment in time where a rapid-sell off happens and often times a few exchanges become inoperable.
As Bitcoin price approached $14,000 just mere hours after breaking through $13,000, a violent flash crash occurred that knocked the price of the leading crypto asset by market cap down by more than $2,000 in seconds, and with it took out many top crypto exchanges.
The global cryptocurrency market lost $58 billion in a flash crash on Thursday morning as bitcoin makes a retreat. The combined value of the world’s cryptocurrencies dropped from $386 billion to $328 billion – a 14.
The long awaited bitcoin correction could be beginning as the king of crypto drops over 10 percent from yesterday’s high. A flash crash that wiped out $2,000 in two hours was quickly recovered but those gains haven’t held as prices start to go south again.
Following its epic pump yesterday, Bitcoin price hit a wall and dumped almost $2,000 in an hour. Many are pointing the finger at exchanges but the bottom line is that BTC has already started to recover and is heading back towards $13,000 again.
The past 24 hours for the Bitcoin price have been absolutely absurd. This morning, BTC found itself up by 20% on the day, trying to break past key resistances just shy of $14,000. All this...
The post $2,000 Flash Crash: Bitcoin in Parabola, Real Correction Still Possible appeared first on Ethereum World News.
Following Bitcoin’s explosive movement into the five-figure price region, investors and Bitcoin bulls have been ecstatically celebrating, and the market sentiment has altered significantly for the better.
While Bitcoin hasn’t been a disappointment for the last 10 days, it hasn’t invited the bulls either. After the price experienced a flash crash and then got back up to the $8k level, the Bitcoin market has been swinging between $7,600 and $8,000, creating a tense atmosphere with no clear indication of whether the crypto […]
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By CCN: U. S. -based cryptocurrency exchange Poloniex has revealed that its lenders lost $13. 5 million in a sudden CLAM price crash. To cover its losses, the exchange slashed the principal of active BTC loans by approximately 16%.
Margin lenders on Poloniex got hit with a 1,800 BTC ($13.5 million) loss on May 26th as a flash crash has made it unlikely borrowers will be able to repay the debt.
Bitcoin price has been rocket by another flash crash today, leaving many traders wondering if the bull season has already passed. But while the #1 cryptocurrency sits in the red, the price action seems to have other ideas.
BTC market prices in the pairing with the Canadian dollar fell significantly in a trading glitch, with an alternative theory being the work of a hacker.
Last week, while most crypto traders witnessed a sideways market with Bitcoin price consolidating in the mid-$8,000s, on the CAD/BTC pair on the cryptocurrency exchange Kraken, there was a flash crash, wiping out 99% of its value in seconds before rocketing back into its trading range.
Bitcoin Fractal Suggests Upside Potential Price action that is seen in Bitcoin (BTC) markets seems entirely random, controlled by a select group of “whales” and “institutions” that can seemingly flash crash any digital asset with a few.
Fractal Accentuates Bitcoin Won’t Pull Back Yet Price action that is seen in Bitcoin (BTC) markets seems entirely random, controlled by a select group of “whales” and “institutions” that can seemingly flash crash any digital.
Bitcoin Trades In $500 Range In Crazy Bout Of Price Action Bitcoin has just experienced a crazy bout of volatility, which has made some reminisce to the Bitstamp flash crash seen just weeks ago, which.
By CCN: Bitcoin SV price witnessed a sharp fall on BitFinex on Thursday — a flash crash that dragged the cryptocurrency from $254 to $44 in a matter of minutes. BitFinex has no issued any clarification about the sudden dump of 25,000 BSV.
The Bitcoin (BTC) bulls have done it. They have entirely shaken off last week’s flash crash, which saw BTC plummet to $6,100 on Bitstamp and $6,500 on other major exchanges. With this strong rebound, which came after a period of ranging between $7,000 and $7,300, analysts have adjusted their outlook to the new conditions.
BTC Flash Crashes: Brief Historical Look As Bitcoin Attempts To Make A Recovery The latest bitcoin flash crash contributed to putting an end to the crypto’s recent bull run. The crash saw bitcoin lose as much as ten percent of its value, after finally managing to double its trading prices for the first time this […]
Bitcoin price analysis is showing BTC/USD consolidating inside a pennant pattern, but which way will it break after being rejected at $8,300? Bitcoin price (BTC) has had a wild ride over the last 7 days, printing a new YTD-high at $8,388, experiencing a heavy flash crash the following day, only to then recover back above $8,000 again.
A bitcoin flash crash put a (temporary) end to the recent bull run, with bitcoin losing ten percent only days after doubling in price for the year. The result was another market panic, with $21 billion shredded from the total market capitalization in 24 hours.
В конце недели мы подводим итоги того, о чём писали эти семь дней, и собираем всё, что актуально для поклонников криптовалют и децентрализованных технологий. На этой неделе в Нью-Йорке прошла крупная криптоконференция Consensus, биткоин пережил flash crash на бирже Bitstamp, а также стало известно о том, что Microsoft будет использовать блокчейн биткоина для создания системы […]
Bitcoin Jumps Up To $8,000 And just like that, we’re back over $8,000. Just hours ago, Bitcoin (BTC) tapped the aforementioned price level yet again, seemingly denying calls that a downturn is inbound.
Despite dropping by about $1,000, Bitcoin is still way ahead of even some of the most optimistic price projections and detailed price forecast models. Here is a look at how Friday’s ‘flash crash’ hasn’t derailed Bitcoin in the long term.
By CCN: Bitcoin’s mammoth rally suffered a devastating setback on Friday when a $35 million sell order triggered a vicious flash crash on Bitstamp. By the time the dominoes had stopped falling, the bitcoin price had plunged as low as $6,894, and more than $32 billion had vanished from the crypto market cap.
Как мы сообщали ранее, биткоин пережил мгновенный обвал (flash crash), упав с $7800 до $6200. Как отметил Туур Демеестер из Adamant Capital, обвал был вызван большим одрером на Bitstamp. Цена быстро восстановилась $7300 и на момент публикации не изменилась.
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