Bitcoin (BTC) is consolidating below $3,500 for the third day straight. The challenge now is to gauge whether the bulls or the bears will win out in the coming days. As discussed yesterday, the leading cryptocurrency could soon see a corrective rally if prices manage to clear the crucial resistance at $3,633 (the high of an “inverted hammer”… Read More »
James Greaves is the co-founder of Glyph, an identity service built for the blockchain era. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. I’m completely out of crypto and I’ve been selling my bitcoin and ether all year. Does that disgust you? Disappoint you? If you just met me, I’m guessing that would be… Read More »
Bitcoin’s (BTC) struggle to build a notable bounce could end if prices beat key resistance above $3,600. The leading cryptocurrency by market value fell to 15-month lows near $3,200 last week, pushing the 14-week relative strength index (RSI) below 30.00 for the first time since 2015. So, with bitcoin so extremely oversold, a recovery rally cannot be ruled… Read More »
A key long-term bitcoin (BTC) price indicator is reporting oversold conditions for the first time in almost four years. The widely followed 14-week relative strength index (RSI), which oscillates between zero to 100, is currently seen at 29.80 – a level last seen in January 2015. An asset or a cryptocurrency is considered to be oversold if the… Read More »
A bear market might not seem like the ideal time to be launching a crypto investment vehicle. But that’s not how blockchain pioneer David Johnston sees it – quite the opposite. Revealed exclusively to CoinDesk, Johnston has launched the Yeoman’s Growth Capital (YGC) fund, seeking to raise up to $200 million to invest in projects that have built… Read More »
Bitcoin (BTC) still has the potential to drop towards $3,000, despite a minor bounce from 15-month lows seen on Friday. The leading cryptocurrency by market value picked up a bid at $3,210 three days ago – a level last seen in September 2017. The ensuing corrective bounce, however, seems to have run out of steam, as bitcoin is… Read More »
The price of ether, the token that powers the ethereum network, fell to 19-month lows just over $80 on Friday. Ether’s dollar-denominated exchange rate (ETH/USD) slipped to $81.30 at 02:15 UTC – the lowest level since May 2, 2017 – according to CoinDesk’s Ethereum Price Index (EPI). As of writing, ETH is trading at $83.00, representing a 17.8… Read More »
When trying to predict the future price of bitcoin, it’s impossible to do so without first looking at its past. No matter how it’s examined, the cyclical nature of bitcoin’s price action can’t be ignored especially when considering its notorious “boom and bust” cycles. If the latest plunge below the long-lasting support level of $6,000 after an explosive… Read More »
The pessimistic sentiment around bitcoin prices saw the number of shorts hit a six-week high on Thursday.
Bitcoin remains on the defensive despite recovery from nine-day lows today, but bearish pressure may weaken if prices rise above key resistance near $3,900.