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Bitcoin Touches Four-Week Low as $25,000 Becomes the Fresh Focus

26Apr

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Technology

Bitcoin Touches Four-Week Low as $25,000 Becomes the Fresh Focus

[ad_1] Bitcoin reached an almost four-week low, with the cryptocurrency continuing to lose momentum since breaking above $30,000 earlier this month for the first time since June.The original digital currency was little changed on Monday after earlier falling as much as 1.9% to $26,989. That was the first time the price was below $27,000 since March 28. Other digital assets were mostly flat to higher, with Ether little changed and Avalanche up about 2%. Crypto-related stocks also extended their slide from last week. Coinbase, the biggest US digital exchange, has slumped for six straight trading sessions since Bitcoin hit its recent high of around $31,000 on March 14. MicroStrategy retreated for a fourth day. There has been some “overheating” of the market, said Aya Kantorovich, co-founde...

Bitcoin ‘Halving’ Due Next Year Spurs Predictions of Rally in Token Past $50,000

[ad_1] Bitcoin's rebound is just the start of a rally that will take it past $50,000 next year courtesy of a process known as halving that curbs the supply of new tokens, according to projections from crypto analysts.The largest digital asset has climbed 70% since Dec. 31 in a partial revival from an epic rout in 2022. While the token at the moment is struggling in the vicinity of $30,000, halving holds the potential to trigger an advance of at least 78%, according to Bloomberg Intelligence and Matrixport. A halving – or halvening – cuts in half the amount of tokens that Bitcoin miners receive as reward for their work. The quadrennial event is due next around April 2024 and is part of the process of capping Bitcoin supply at 21 million tokens. The coin hit records after each of the last...

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 ...