Bitcoin (BTC) Price Hesitates But Further Recovery Seem Likely

Bitcoin price tested the $9,800 support and bounced back against the US Dollar. The price is currently struggling to gain momentum above $10,400 and $10,500. There is a key contracting triangle forming with resistance near $10,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to slowly rise as long as it is trading above the $9,800 support area. Bitcoin price is showing positive signs above the $9,800 support against the US Dollar. BTC price might gain bullish momentum once it settles above…

Crypto Market Sends Mixed Signals as Ether and Bitcoin Price See Green

Friday, Aug. 16 — Bitcoin (BTC) and Ether (ETH) are seeing some upward movement as XRP continues to slump. Market visualization. Source: Coin360 Bitcoin is trading at $10,480 at press time, representing a 4.58% price increase on the day. Bitcoin is seeing some momentum for an upward climb, peaking at $10,500 so far and continuing to stay away from the four-figure mark it fell to yesterday. Still, BTC needs to climb by about 15% to retake the $12,000 barrier, which it surpassed multiple times earlier this month. Earlier today, anticipated…

Bitcoin Price Surges 10% in 48 Hours as Bakkt Countdown Begins

The bitcoin price spiked after regulated futures platform Bakkt announced it had received approval to launch in September. | Source: Shutterstock By CCN Markets: Bakkt, a bitcoin futures trading platform operated by ICE, the parent company of the New York Stock Exchange (NYSE), finally received approval from the Commodities and Futures Trading Commission (CFTC) to initiate its long-awaited launch. “Our contracts have already received the green light from the CFTC through the self-certification process and user acceptance testing has begun. With approval by the New York State Department of Financial…

Bitcoin Price Fear & Greed Index Back to ‘Extreme Fear’ Dec 2018 Lows

Bitcoin investors are no longer as buoyant as they were three months ago, judging by the latest readings from the Crypto Fear and Greed Index (CFGI). On Aug. 14, the Bitcoin-only index — which plots investor sentiment on a scale of 1 to 100 (where 1 represents doom and foreboding and 100 indicates blithe optimism and greed) — hit its lowest levels since December 2018. Today: “fear,” yesterday: “extreme fear” Just under three months ago, in late June, Bitcoin (BTC) investors had seemingly hit a level of unbridled optimism, with the…

Bitcoin Defends Price Support, But Bear Case Still Intact

View Bitcoin’s repeated defense of the 100-day moving average signals seller exhaustion, but a break above $10,445 – the high of Thursday’s hammer candle – is needed to confirm a bull revival. A high-volume move above $10,445 would open the doors to re-test of $11,120. BTC may have a tough time scaling $10,445, as the daily chart indicators are biased bearish. The risk of a drop to $9,049 (July 17 low) remains as long as prices are held below that level. Bitcoin (BTC) has bounced from key price support, but…

Bitcoin Price Drop Not Caused by $3B Ponzi BTC Dump

Bitcoin’s (BTC) recent price drop has not been caused by Bitcoin sell-offs from a $3 billion Chinese Ponzi scheme PlusToken, according to researchers at crypto analytics firm TokenAnalyst.  Crypto analytics firm: PlusToken cannot be the cause  As Bloomberg reports on Aug. 15, co-founder of London-based cryptocurrency analytics firm TokenAnalyst, Sid Shekhar, said that a Bitcoin dump by the PlusToken operators cannot be the cause of the recent price drop.  Notably, the firm did not find any evidence that PlusToken moved any significant amounts of Bitcoin to any known exchange addresses.…

Bitcoin Price Straddles $10K as Consensus for New 2019 High Remains

Bitcoin (BTC) price fell below $10,000 once more on Aug. 16 after climbing as high as $10,440 in early trading.  Market visualization. Source: Coin360 Mixed signals for Bitcoin price Data from Coin360 spelled out another day of uninspiring performance for Bitcoin traders Friday, with BTC/USD failing to find support at five figures. This week produced multiple $10,000 crossings for Bitcoin. Markets dipped on Thursday as low as $9,500 before rebounding. At press time, however, the price was higher, remaining above $9,900. Bitcoin 7-day price chart. Source: Coin360 Those continually higher…

Bitcoin (BTC) Price Recovery Could Fade, Fresh Decrease Likely

Bitcoin price started an upside correction after trading as low as $9,483 against the US Dollar. The price is facing a strong resistance near the $10,350 and $10,400 levels. There is a major bearish trend line forming with resistance near $10,290 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to resume its decline as long as it is trading below the $10,500 resistance. Bitcoin price is facing many hurdles on the upside near $10,400 against the US Dollar. BTC price is likely…

Ripple Price (XRP) Showing Recovery Signs, Bitcoin Back Above $10.2K

Ripple price trimmed losses after it traded as low as $0.2336 against the US dollar. The price is currently trading above the $0.2500 pivot level with a few positive signs. A major contracting triangle pattern is forming with resistance near $0.2670 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to recover towards the $0.2800 resistance as long as it is above the $0.2500 support. Ripple price is showing signs of a decent recovery against the US Dollar, while bitcoin recovered 3%. XRP…