Bitcoin trading – pressnews

Bitcoin Struggles to Recover After Near 10% Drop

4Jan

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Technology

Bitcoin Struggles to Recover After Near 10% Drop

[ad_1] Bitcoin struggled to rebound from a precipitous drop which sent the largest cryptocurrency falling as much as 9.22% earlier in the week.The token was little changed on Thursday morning London time, trading at around $43,056 and marking a partial recovery from Wednesday's low, but still 6.2% away from the year's high. Bitcoin had rallied to a 21-month high on Jan.2, ahead of ahead of an upcoming Jan. 10 deadline, that could see the US Securities and Exchange Commission approve the first exchange-traded fund tied directly to the asset's spot price. The token, along with the broader crypto market crashed suddenly on Wednesday, which some speculated occurred after Matrixport analyst Markus Thielen wrote in a note that he expects the SEC to reject all Bitcoin ETF proposals this month...

Crypto’s Peer-to-Peer Exchanges Lose Ground in a Shrunken Market

24Jul

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Crypto’s Peer-to-Peer Exchanges Lose Ground in a Shrunken Market

[ad_1] Crypto exchanges that connect buyers and sellers directly without Wall Street-style middlemen are under pressure to improve their services amid a decline in market share.These so-called decentralized platforms facilitate trading via algorithmic, blockchain-based software known as smart contracts, with users retaining custody of tokens rather than handing them to an intermediary institution. Crypto diehards predicted a golden period for peer-to-peer trading venues such as Uniswap and dYdX after last November's collapse of the FTX exchange, which undermined trust in centralized platforms that take control of tokens. But that hasn't panned out: monthly spot trading volumes on decentralized exchanges slid 76% to $21 billion by June this year versus January 2022, more than the 69% dro...

Bitcoin hovers near 13-month high as investors cheer Ripple ruling

15Jul

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Bitcoin hovers near 13-month high as investors cheer Ripple ruling

[ad_1] Bitcoin was hovering near its highest so far this year on Friday after crypto investors took encouragement from a legal victory in which the cryptocurrency XRP was ruled not to be a security.A U.S. judge said on Thursday that Ripple Labs Inc did not violate securities law by selling its XRP token on public exchanges. The case marks the first win for a cryptocurrency company in a lawsuit brought by the U.S. Securities and Exchange Commission. Although the decision was specific to the individual case, it unleashed a wave of optimism among crypto investors that more cryptocurrencies may also not be deemed securities. Still, the enthusiasm for some was tempered by a report from the Wall Street Journal that Binance, the world's largest cryptocurrency exchange, has laid off more than 1...

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

26Apr

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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

24Apr

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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

21Apr

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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 ...

Bitcoin Charts Pin $25,000 as Make or Break for Revival

21Feb

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Bitcoin Charts Pin $25,000 as Make or Break for Revival

[ad_1] The $25,000 level for Bitcoin is emerging as a key technical hurdle for the token's partial bounce from last year's crypto rout.Bitcoin scaled that level on Feb. 16 for the first time since August but has struggled to stay above it. The largest digital coin advanced 2% on Monday to fluctuate just around the $25,000 mark. The token's strong new year performance appears to be partly driven by the idea that the worst of monetary tightening is over. Some investors have also taken succor from the view that the Federal Reserve can quell inflation without triggering a US recession, which has boosted risk assets from equities to crypto. “With the market swapping the ‘hard landing' narrative of the fourth quarter last year to one of ‘no landing' in the first quarter of 2023, speculative ...

‘Very Cold Crypto Winter’ Kills a Pioneer of Bitcoin Trading

11Feb

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‘Very Cold Crypto Winter’ Kills a Pioneer of Bitcoin Trading

[ad_1] One of the earliest peer-to-peer platforms for trading Bitcoin is shutting down, a casualty of the prolonged crypto downturn. LocalBitcoins cited the “ongoing and very cold crypto winter” for its decision in a tweet on Thursday. Its mission to “Bring Bitcoin Everywhere” and promote financial inclusion fell prey to falling volumes and market share, the company said. Launched in 2012 in Helsinki, LocalBitcoins was one of the earliest and most popular P2P platforms for trading the biggest token, but it gradually lost ground to other crypto exchanges. Weekly volumes peaked at almost $130 million during the 2017 bull market and have since tumbled to around $5 million to $6 million, data from CoinDance show. LocalBitcoins matched buyers and sellers and held the tokens in escrow...

Bitcoin’s Rally Stalls Just Shy of a Trading Signal Last Seen Before the Token’s Record Run

7Feb

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Bitcoin’s Rally Stalls Just Shy of a Trading Signal Last Seen Before the Token’s Record Run

[ad_1] Bitcoin's 2023 rally is stalling after coming tantalizingly close to forming a trading signal last seen when the token was setting records. The coin's near 4% slide in the seven days through Sunday was the largest weekly drop since November, paring its year-to-date gain to 39%. Bitcoin remains on the cusp of a golden cross, where the 50-day average price tops the 200-day. This pattern occurred before bull runs in 2020 and 2021. “Most instances of a golden cross have resulted in favorable returns for Bitcoin, and many have occurred at critical long-term inflection points,” Sean Farrell, Fundstrat Global Advisors' digital-asset strategy head, wrote in a note. Over the past five years, Bitcoin rose an average 22% in the 60 days after a gold...