US Debt is a Death Spiral That Cannot be Undone, Buy Crypto

Twitter Facebook Kim Dotcom, a German-Finnish Internet entrepreneur and a renowned investor in crypto, stated that the US economy will inevitably crash in the years to come. If US markets deteriorate in the long-term, as predicted by recognized economists including Peter Schiff and Nouriel Roubini, Dotcom firmly stated that crypto will appeal to investors as a robust and stable store of value alongside precious metals such as gold. “US Empire now pays half a trillion dollars in interest payments per year to service its debt. US debt increases by a…

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Will BTC Fail to Recovery by 2018’s End?

Twitter Facebook Over the past 11 days, the Bitcoin price has remained stable in the range of $6,300 to $6,500, struggling to initiate a major movement on the upside. The volume of Bitcoin has declined substantially over the last 72 hours from $3.6 billion to $3.1 billion on CoinMarketCap, by nearly 20 percent. Trading activity in the cryptocurrency exchange market has generally subsided, as investors have started to avoid taking high-risk, high-return trades in a period of uncertainty. Support and Resistance Merging: Where is Bitcoin Headed to Next? Since early…

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BTC/USD Predictable amid Low Volume

Twitter Facebook The Bitcoin-to-dollar exchange rate on Friday remained entrenched into the stable territory amid low volume. The BTC/USD is currently trading at 6406-fiat, just 0.42 percent above its intraday low. The pair continues to bounce between a $58 wide range, providing day traders plenty of profitable opportunities to enter and exit the market on every pullback action. At the same time, the quoted US Dollar index (DXY) recently posted yearly highs at 96.62-fiat but retraced back to the nearby support level at 96.08. The reverse correlation between BTC and…

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Is Bitcoin Primed to Initiate a Rally Above $7,000 After Weeks of Stability?

Twitter Facebook Throughout the past ten days, the Bitcoin price has remained in a tight range from $6,300 to $6,500, rarely initiating a noticeable movement. The 1-day price chart of Bitcoin, as shown below, demonstrates nearly two weeks of stability in the lower price range of the dominant cryptocurrency, unable to engage in a short-term upside movement to confirm a breakout above a major resistance level. In the past 24 hours, the volume of BTC has fallen back to $3.1 billion from $3.5 billion, by more than 10 percent. The…

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Bitcoin Price Intraday Analysis: BTC/USD Slips Intrarange

Twitter Facebook The bitcoin-to-dollar exchange rate on Thursday dropped a little over 1 percent from its intraday high towards 6377-fiat. Currently, the pair is trading at 6412-fiat, up 0.54 percent from the latest low. On the US Dollar front, the DXY continues to act inverse against the bitcoin market. The correlation is too visible to evade notice. When DXY rises, bitcoin starts dropping. And when DXY starts dropping, bitcoin rises. In the past 24 hours, the DXY market has established a fresh two-month top near 96.60 after dropping to lows…

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Cryptocurrency Market Sentiment is Looking up: Huobi Research

Bitcoin’s recent sell-off notwithstanding, cryptocurrency investors are beginning to grow more optimistic about the market’s short-term direction. That’s according to the latest Market Sentiment Index Report from Huobi Research, which identified a slight uptick in investor optimism over the previous month. Released on Friday, the September report is based on from survey data compiled from Sept. 25 to Sept. 30 from 552 retail and institutional investors in 23 countries. Overall market sentiment clocked in at 71.1 points out of a maximum of 100, representing a 2.17 percent increase over August.…

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BTC/USD in Weak Upside Correction

The Bitcoin-to-USD exchange rate has posted slight gains in the Friday session. Currently, the pair is trading above 6300-fiat, up +1.55 percent on the day. The weak upside correction comes after the mainstream stocks underperformed second-day in a row. Nevertheless, the lower market volatility suggests that the Bitcoin correction is only a minor adjustment in price within an overall downtrend. The weekend break in the mainstream market could allow some speculators to switch to crypto’s 24/7 open bazaar, and improve intraday volume. BTC/USD Technical Analysis The prevailing bearish bias indicates…

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Bitcoin Futures Helped Market Reach ‘Sustainable Level’: CFTC Chief

When derivatives exchanges CBOE and CME launched the first regulated U.S. bitcoin futures contracts, many cryptocurrency bulls thought that this event would lead to a wave of institutional investment and propel the market toward even greater highs. Just days later, the yearlong bitcoin price rally stalled, and the flagship cryptocurrency — followed soon after by the wider market — entered a decline that has continued throughout 2018. According to researchers at the San Francisco branch of the Federal Reserve, the bitcoin futures launch triggered the decline, as it provided institutional…

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Crypto Market Erases $16 Billion in 24 Hours, Can Bitcoin Rebound?

Within a period of 24 hours, from October 11 to 12, the valuation of the crypto market has declined from $217 billion to $201 billion. The 7 percent decline in the valuation of the crypto market was triggered by a sudden drop in the price of Bitcoin from $6,600 to $6,250. The 5 percent decrease in the value of Bitcoin, which occurred in less than 30 minutes, was somewhat expected by traders who were concerned by the declining volume of the dominant cryptocurrency. How Can the Market Recover? Earlier this…

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Bitcoin Needs Blessing From SEC to Rally, Market Desperate

Naeem Aslam, chief market analyst at Think Markets UK, has stated that Bitcoin needs a blessing from the US Securities and Exchange Commission (SEC) to revitalize and experience a recovery in price. According to Aslam, the approval of the first Bitcoin exchange-traded fund (ETF), which would allow accredited investors and individual traders in US markets to invest in cryptocurrencies, could be a major factor to revitalize the cryptocurrency market. “Bitcoin needs some sort of a blessing and only that can revitalize the rally for the currency. I think that the…

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