Tag: Bitcoin gains

Bitcoin Trading Signal Hints at an Upcoming Leap Back Above $30000
21Apr By adminNo Comments
Technology

Bitcoin Trading Signal Hints at an Upcoming Leap Back Above $30000

[ad_1] Bitcoin's rally this year is facing a test as the token struggles around $30,000. A pattern buried in the coin's recent swings suggests it could vault above that level again en route to a 7% short-term gain.The pattern is a minimum daily jump of 3% followed by a next-day reversal of at least that magnitude during a generally bullish period for Bitcoin. The token flashed that signal over Tuesday and Wednesday. Bitcoin rose about 7% on average over three, five and 10 days after the previous 17 such signals in the last five years, data analyzed by Bloomberg show. The study identified bullish periods by using the token's relative strength index, a momentum gauge, which had to be above 50. Bitcoin has rebounded about 74% in 2023 from last year's crypto rout, helped by expectations of ...
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Bitcoin Barrels Past Banking Sector Troubles Toward One of its Biggest Weekly Gains
18Mar By adminNo Comments
Technology

Bitcoin Barrels Past Banking Sector Troubles Toward One of its Biggest Weekly Gains

[ad_1] Bitcoin is on course for one of its biggest weekly gains of recent years, bolstered by wagers on eventual cuts in interest rates as the token rides out convulsions in the banking sector.The largest digital asset is up about 25% since the start of Monday. It's had a weekly jump of at least that much only 10 times in the past five years, data compiled by Bloomberg show. Smaller coins like Ether and Dogecoin are also rallying. The collapse of three regional US lenders and wobbles at Credit Suisse Group AG are strengthening expectations of an end to the monetary tightening that pummeled crypto in 2022. The ructions are also reviving claims from Bitcoin's most ardent supporters that the token is an alternative to fiat currency. “The current turbulence within the US banking sector, po...
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Bitcoin Breaks Away From Stocks in 50% Surge Defying Macro Peril
22Feb By adminNo Comments
Technology

Bitcoin Breaks Away From Stocks in 50% Surge Defying Macro Peril

[ad_1] Concerns about further interest-rate hikes, a fizzling stock rally and a US crypto crackdown all suggest Bitcoin and other tokens should be beating a hasty retreat. Instead, they're extending their 2023 rebound.Bitcoin's year-to-date gain has now reached 50% after a further jump in February, contrasting with a retreat in global equities this month courtesy of a macroeconomic environment replete with growth and inflation concerns. This divergence has dented a positive correlation between shares and crypto that sprouted in the pandemic. A 40-day correlation between Bitcoin and the S&P 500 has slid below 0.3 to the lowest since 2021 from a May record above 0.8. A reading of 1 implies assets are fluctuating in lockstep and minus 1 signifies the opposite. Other relationships have...
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Bitcoin tops $25,000 to hit eight-month high
17Feb By adminNo Comments
Technology

Bitcoin tops $25,000 to hit eight-month high

[ad_1] Bitcoin hit an eight-month high to surge past $25,000 on Thursday as the volatile cryptocurrency rises despite pressure from US regulators.The digital coin has soared by 50 percent since the start of the year, though it remains far off its peak of $68,992, which it reached in November 2021. Bitcoin reached $25,249 on Thursday, its highest point since June and the first time it topped $25,000 since August. A more optimistic outlook for the world economy is propping up the markets, including cryptocurrencies, with Paris and London stock exchanges hitting all-time highs on Thursday."While regulatory crackdowns continue to drive some unease, there's clearly a growing sense of relief that the worst is behind it for the industry and 2023 could be a much better year," said Craig Erlam,...
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Bitcoin Barrels Toward Historic January as Crypto Market Jumps by $280 Billion
31Jan By adminNo Comments
Technology

Bitcoin Barrels Toward Historic January as Crypto Market Jumps by $280 Billion

[ad_1] Bitcoin is set for its best January since 2013 on bets that monetary tightening and the crypto-sector crisis are both ebbing. Bitcoin is set for its best January since 2013 on bets that monetary tightening and the crypto-sector crisis are both ebbing.The largest token is up 40% since the turn of the year, a first-month gain bettered only twice before when crypto was in its infancy. Smaller coins like Solana, Axie Infinity and Decentraland have doubled in value, part of a $280 billion January climb in digital assets overall, CoinGecko figures show. Bitcoin retreated 2.5% to $23,200 as of 11:37 a.m. in London on Monday amid broad declines in risk assets. The rebound from last year's deep rout is part of a wider revival in risk appetite on expectations that central banks will slow...
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Bitcoin Eyes First Two-Day Drop of 2023 as Microsoft Dents Mood
25Jan By adminNo Comments
Technology

Bitcoin Eyes First Two-Day Drop of 2023 as Microsoft Dents Mood

[ad_1] Bitcoin is flirting with its first back-to-back drop since the start of the year following a poor revenue outlook from technology bellwether Microsoft Corp. that dented wider investor sentiment. Bitcoin is flirting with its first back-to-back drop since the start of the year following a poor revenue outlook from technology bellwether Microsoft Corp. that dented wider investor sentiment.The largest token fell as much as 2.5% and was trading at about $22,650 as of 6:11 a.m. in London on Wednesday after edging lower in US hours. A range of smaller coins, from Ether to Cardano to Avalanche, were also in the red. Digital assets are among the many investments that jumped at the start of 2023 on bets that central banks will slow or even reverse interest-rate hikes in the months ahead....
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Bitcoin Defies Bad Tidings to Register Its Best Week Since 2021
14Jan By adminNo Comments
Technology

Bitcoin Defies Bad Tidings to Register Its Best Week Since 2021

[ad_1] There may be a lot of bad stuff going on in the world of crypto right now, but Bitcoin true believers don’t seem to care. There may be a lot of bad stuff going on in the world of crypto right now, but Bitcoin true believers don't seem to care. The largest digital currency by market value has gained roughly 12% so far this week, on pace for its best weekly performance since October 2021, Bloomberg data show. Other tokens have also gained, with an index of the 100 biggest coins adding more than 10%. Shares of some crypto-related companies are up even more, with Bitcoin miner Marathon Digital adding more than 60% this week. It's a promising start to the new year for the token, which in 2022 lost more than 60% in its second-worst annual performance on re...
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Bitcoin on Track for October Gains in Defiance of a Tough Stretch of Months
29Oct By adminNo Comments
Technology

Bitcoin on Track for October Gains in Defiance of a Tough Stretch of Months

[ad_1] Bitcoin looks set for gains in October, defying a recent streak of monthly losses. Bitcoin looks set for gains in October, defying a recent streak of monthly losses as the macro picture shows hints of improving and cryptocurrency market data improve.The largest cryptocurrency is up 6.5% in October and was trading around $20,700 as of 8 a.m. in London on Saturday, while second-biggest Ether has risen 19%. Both tokens dropped in five of the previous six months, and bulls had been putting hope into this month as October has historically tended to be positive for crypto prices. A recent rally doesn't appear to have been caused by any one factor but is “largely driven by a more favorable backdrop for risk assets and short liquidations,” Greg Cipolaro, global head of research at NYDI...
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