On Friday, Bitcoin briefly hit $60,000 and surged above the psychological hurdle. This is the fourth time the coin is retesting $60k in a slow grind back to its all-time high of $61,000. TradingView showed bullish tendencies remaining overnight for the BTC/USD pair. A correction below $60k pushed the king cryptocurrency back to $59,000. At 11:19 GMT on Friday, the coin was exchanging hands at $59,810, only about $200 away from $60,000 and a gain of 1.79% over the last 24 hours. While BTC is currently correcting, ETH has surged up to $2,000. The sustained bullish momentum means that Bitcoin has effectively canceled out the flash crash from last week. For popular trader Crypto Ed, the outlook was for $60,000 to disappear as resistance based … [Read More...]
As the Second Quarter Begins, Bitcoin Is in Its Best Year Yet
As the second quarter begins, Bitcoin price is looking at its strongest three-month gain than any quarter since 2013. With a 103% gain in the first 3 months of 2021, the coin looks primed for more. Typically, March has been a bad month historically for Bitcoin. However, the king cryptocurrency saw a massive increase of nearly 30% over the month is strong evidence that this year is different. Moreover, it was during this year that Bitcoin tested an all-time high of $61,000, a record high for the coin. At 18:30 GMT, Bitcoin was trading at $58,823. A loss of 0.68% over the last 24 hours. The second quarter of the year has been historically the strongest in the life of Bitcoin. Two years ago, Bitcoin’s second quarter saw nearly 160% … [Read More...]
$73K Is the Next Key Level As PayPal Begins Bitcoin Payments
Bitcoin price began a rebound since the start of the week. It is once again approaching current record highs, handing the price baton back to the bulls. At 17:06 GMT on Tuesday, the price of a Bitcoin was trading at $58,791, a gain of 1.8% over the last 24 hours. In the run-up to the options expiry last Friday, Bitcoin saw price corrections throughout the week. While a rebound is not new in the cryptocurrency market, Bitcoin is currently about $1,000 away from $60,000. The consolidation of the price has been going on for most part of March suggesting that Bitcoin has been building a solid base to rocket from. The chart above shows that the critical support area last week was between $49,500 and $51,000 was tested. … [Read More...]
Bitcoin Subjected to Increased Bearish Pressure
Bitcoin price has been under a lot of bearish pressure lately as the coin fell to the $52,000 level during the week. At 14:15 GMT on Saturday, the coin was trading at $54,747, a 2.9% increase in the last 24 hours. While the king cryptocurrency is looking to recover, how soon can it get above the previous all-time high of $62,000? During the last week, BTC witnessed a drop of over 5%. However, the gradual uptrend in the price movement looks encouraging. Since the start of the month, the pioneer cryptocurrency’s price action has been limited to two price levels: the upper limit has remained around the region of $60k acting as resistance while the lower limit remains a strong support close to $50k. During … [Read More...]
Bitcoin Price Takes a Massive Hit, Pushes Market Cap Below $1 Trillion
After enjoying a good run in the second week of March, Bitcoin price has taken a massive hit this week as the price continues to bleed. Yesterday, there seemed to be some relief after the price touched $57,230. The price soon melted. At 12:58 GMT on Thursday, the price was trading at $51,528, a loss of almost 10% in the last 24 hours. As the digital asset corrects, investors have not taking this lightly. Many have resorted to taking profit. Cumulatively, BTC investors have pulled out close to $145 billion. This exit has caused the market capitalization of the king cryptocurrency to fall below $1 trillion. Recall that Bitcoin first cleared the $1 trillion market cap level earlier this year. It went on to surpass this level in the … [Read More...]