A return to challenge resistance at $7,500 or higher appears increasingly unlikely as plans shift for a fresh visit to the $6K range for Bitcoin.
Bitcoin Price News
Bitcoin price establishing is an interesting phenomenon and widely differs from the way the price of ordinary money is set. First of all, despite popular belief, Bitcoin does have a cost price. It is set as a combination of expenses on electricity, transaction fees and the installation/purchase of software. However, the price of Bitcoin is not determined by its cost price and is mostly estimated by consumer demand. It causes huge fluctuations in the price of Bitcoin, as Bitcoin has no backing, and traders are largely dependent on the news of Bitcoin’s price, multiplying volatility of the asset. As Bitcoin’s market cap is nearly $159 billion, the price of Bitcoin became an important economical factor, gathering attention from financial institutions of various kinds and stimulated the research of behavioral factors that influence the price of Bitcoin and working on ways of predicting its changes.
- Market Update
- Market Analysis
by Horus Hughes
Bitcoin price continues to yield to bears and could collapse to $6.5K or below if $7,080 and $6,800 fail to hold as support.
- Market Analysis
by filbfilb
A volatile start to the week suggests that $7.4K will be key in what happens next to Bitcoin price and the wider cryptocurrency market.
- Market Update
Mixed performance over the weekend nonetheless failed to inject volatility into Bitcoin markets, with attention now focusing on preserving support at $7,400.
- Market Analysis
Bitcoin price could drop by 64% from here despite the May 2020 halving based on a historic indicator that suggests BTC may be in the middle of a bear cycle.
- Market Analysis
by Scott Melker
Bitcoin’s tightening trading range and low volume convinced veteran trader Scott Melker to focus on altcoins which have been producing double-digit gains for th...
- Market Analysis
Bitcoin price needs to break above $8.2K to spark a new bull market while altcoins continue to rally higher due to the low volatility in BTC price.
- Market Update
by Helen Partz
Crypto markets have continued to rebound after a sharp sell-off on Dec. 4, with Bitcoin briefly reclaiming $7,500.
- Market Analysis
by filbfilb
Bitcoin bulls have their sights set on $8.2K as BTC price action shows hidden signs of reversing but the bearish descending trendline remains a serious obstacle...
- Market Analysis
by Horus Hughes
After retracing the Dec.4 10% rally to $7,800, Bitcoin bulls are now attempting to push the price above $7,500 for another shot at $8K.
- Market Update
by Helen Partz
Crypto markets continue to trade sideways, with Bitcoin struggling to recover from its intraday low of below $7,200.
- Market Analysis
Bears could push Bitcoin price to its 200-week moving average below $5,000 before a mid-term reversal occurs.
- Market Update
A quieter 24 hours gets analysts considering a narrower trading corridor for the short term, with $6,900 a likely lower boundary if current levels fail to hold.
- News
Contrary to popular opinion, says Jason Williams, it is unlikely that BTC/USD will react significantly to the miner reward shift to 6.25 BTC per block next May.
- News
A data scientist at the prestigious Vellore Institute of Technology has outlined a method for how to purportedly predict crypto prices in real-time using an LST...
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