Tag: Bitcoin rise

Bitcoin Touches Four-Week Low as $25,000 Becomes the Fresh Focus
26Apr By adminNo Comments
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...
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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 Rally Is Much-Needed Lifeline for Troubled Miners After Grim Quarter
1Mar By adminNo Comments
Technology

Bitcoin Rally Is Much-Needed Lifeline for Troubled Miners After Grim Quarter

[ad_1] Bitcoin's new year rally is resuscitating many crypto-mining companies seeking to escape from near financial ruin after one of the most devastating quarters ever for the nascent industry. Whether they succeed in making a comeback remains in question.High electricity costs, a plunge in digital assets prices and persistent network competition in the fourth quarter slashed mining profit margins and made it difficult for miners to stay afloat. Core Scientific Inc., the largest public Bitcoin mining company by computing power, went bankrupt and multiple major miners warned of liquidity crunches. While struggling miners have garnered some relief from Bitcoin's 40% rebound this year, they are still under financial pressure. The rise in Bitcoin has made it easier for miners to raise cap...
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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 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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