Connect with us
  • Home
  • Start here
  • Bitcoin Charts & More
  • Submit PR
  • Advertisement
CLOSE

Bitcoin News

Bitcoin Hits $11k Less Than 24 Hours After Reaching $10k

Published

on

crypto market remains vulnerable

Bitcoin (BTC) has managed to cross the $11,000 line for the first time since March 2018. As Bitcoin hits $11k, the leading cryptocurrency proves that it is in a bullish momentum and is the main topic on many best cryptocurrency news sites.

Right now, BTC is approaching $11,000. However, while many believe that Bitcoin hits $11k confidently, the dominant cryptocurrency showed some signs of a correction and went down to $10,800 which is its current level.

Anyways, what is important is the fact that Bitcoin managed to approach $11,100 which is a gain of 13% in only 24 hours – going up from the $9,000 price levels and being featured in the latest cryptocurrency news.

As Bitcoin hits $11k, Ethereum (ETH) is also seeing a multi month high which is over $300. The 24 hour trend has been very important for all cryptocurrencies – and just like Bitcoin, the coming altcoin news showed a lot of gains, too. Speaking of, the current total cryptocurrency market cap is at $325 billion – a level that was not seen in more than a year.

One analyst and professional trader named Peter Brandt commented the “Bitcoin hits $11k” headlines and tweeted that the BTC price is currently taking aims at the $100,000 targets. In his tweet, Brandt noted that Bitcoin is on its fourth parabolic growth phase and is a market like no other, stating:

“Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.”

While the Bitcoin price is very short of $11k, analysts are showing that the dominance levels of Bitcoin are also at new highs. As we speak, Bitcoin’s dominance is at 59% – a level that is very important for the cryptocurrency and the traders using, storing or trading with it.

In his tweet, Brandt also published a table which contains data about the growth of the Bitcoin price. As that data shows (in the image), BTC managed to increase its value by 9,765 times from October 2011 to December 2017. In other words, $1 worth of Bitcoin in 2011 was $9,765 worth of the same cryptocurrency six years later.

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Bitcoin News

Bitcoin 30-Day Trading Volume Hits Records High Of $770 Billion

Published

on

By

bitcoin 30-day trading volume
Bitcoin 30-day trading volume reached a record high back on June 26 but the indicators are still managing to keep the record level in terms of monthly volume as we can read in the latest cryptocurrency news below. The number one cryptocurrency is trying to break past the support level at $9,000 and the trading volume is keeping a steady level. This shows that the bears are very strong and the number one cryptocurrency on the market has still not found the temporary low yet. According to the data from CoinMarketCap, Bitcoin’s trading volume from June 17 to July 16 was standing at $769.8 billion which was the biggest 30-day figure recorded. The daily average for the same period was about 25.6 billion. In comparison, the daily average volume year-to-date stands around 42% lower which is at $14.8 billion. The monthly volume figure from the recorded daily high that was reached on June 26 was over $45 billion. The lowest daily volume figure was also in June at more than $15 billion. Year-to-date, January has been the worst month regarding the Bitcoin price and the trading volume since the latter indicator was at 167.3 billion over the month with a $5.4 billion daily average. Despite the current high-level monthly volume recorded, bitcoin is far away from the traditional forex market which has an average daily turnover of over $5 trillion since 2016. It is worth to mention that the volume data from Coinmarketcap does not include the volume from BitMEX which boosts the highest bitcoin trading volume. The users at the exchange are allowed to engage in margin trading which means that the volume figures are slightly distorted and the platform’s XBT/USD pair is acting more like a derivative product than something else. BitMEX total trading volume in the last 30 days was standing at 207.2 billion and it was mainly driven by XBT/USD. Over the past week, the exchange has liquidated over $1 billion of long positions against the $174.4 million. This could impact the position on Bitcoin’s current price and could expect to extend the losses of the asset even further. The Bitcoin 30-day trading volume is expected to also increase steadily as noted in the altcoin news previously.
`
Continue Reading

Bitcoin News

Bridgewater Founder Ray Dalio Makes A Bullish Prediction For BTC

Published

on

By

bridgewater founder
Bridgewater founder Ray Dalio, the billionaire investor, and hedge fund manager initially predicted that gold will become a major investment option during the ‘’paradigm shift’’ in the global markets. However, he forgot at that time about bitcoin, so let’s find out what he thinks now about this crypto asset in the latest cryptocurrency news below. Dalio explained in a LinkedIn post that many people have invested in stocks and equities which is why this asset class is in danger of reaching a major drop in returns. In order for people to balance out their portfolios, they will have to turn to assets such as gold. He explained:
 “Additionally, for reasons I will explain in the near future, most investors are underweighted in such assets, meaning that if they just wanted to have a better balanced portfolio to reduce risk, they would have more of this sort of asset. For this reason, I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one’s portfolio.”
The Bridgewater founder advocated that gold is the only right option to choose for everyone that is looking to diversify their portfolio just in a time where most of the world seems to be investing in equities. This is not the only reason why Dalio believes that gold will witness a major surge in inflows. According to him, the global conflicts and the depreciating value of money will force them to go on the way back to safety. Gold will be the only asset to choose from for all the investors that are looking to store their wealth at a time when the central banks are trying to keep the interest rates low. Dalio’s comments could make sense a decade ago when bitcoin was first launched. Gold is universally considered to be a safe-haven asset that the investors buy in order to protect their wealth in difficult times. Bitcoin, on the other hand, is gaining the confidence of institutional investors and there are only a few people who believe that the cryptocurrency will replace the gold. Dalio somehow forgot that the times have changed and bitcoin is now considered as the perfect replacement for gold as noted in the coming altcoin news previously.
`
Continue Reading

Altcoin News

Bear Euphoria Continues As Bitcoin Plummets Below $10,000

Published

on

By

Bitcoin Wraps
The coming altcoin news and Bitcoin news too show a negative decline in the crypto markets, leading to billions of losses on a weekly level. The bear euphoria managed to 'steal' away more than $60 billion over the past 7 days and Bitcoin is now down by more than 26% in the same period. The recent tumbling of Bitcoin's price of 15% triggered the altcoins to post new losses too. Instead of optimistic targets, the latest cryptocurrency news show bearish targets - with the one of $8,800 that is currently in sight. Since the weekend, the bear euphoria made BTC dump more than 30% as the selloff accelerates. From an intraday high of $10,750 seen yesterday, Bitcoin is now at $9,500 losing a lot of its value in the past 24 hours. A very slight recovery has made BTC fix its sentiment and go from $9,260 to $9,500 which is the price point at press time. We can definitely attribute the decline to the latest altcoin news where Facebook's Libra is a main point of interrogation and investigation from the US Treasury Secretary. On top of this, it seems like Trump's comments on Bitcoin accelerated a further decline in the long run - despite the House Representative Kevin McCarthy who admitted to 'liking Bitcoin'. This did not stop the bear euphoria as the slide back to four figures resumed. According to the expert trader and analyst Alex Kruger, pullbacks should be welcomed in a bull market. As his optimistic tweet showed:
“Bull market corrections are unavoidable and should be welcome. Assets that go too far up too fast tend to crash the hardest. As everyone who speculated with the price of bitcoin during 2017 and 2018 well knows.”
We can also see the Bitcoin hater Nouriel Roubini who is featured on many best cryptocurrency news sites for his pessimistic statement towards BTC and optimistic towards the Trump-Congress hearings. He said:
“Bitcoin has crashed by almost 30% in the last week and over 15% in the last day. As Congress, Mnuchin, Trump and myself point out that the criminal scams of crypto shitcoins-land will be cracked down on, the scammers and criminals know their days of unregulated casinos are gone!”
As a reminder, the bear euphoria has made BTC correct more than eight times during the previous bull run - and Bitcoin lost more than 30% in the same period before reaching the all time high close to $20,000 at the end of 2017.
`
Continue Reading

Bitcoin News

VanEck Thinks Bitcoin ETF Could Bolster US Economy

Published

on

By

vaneck thinks
The latest cryptocurrency news again explore the topic of Bitcoin exchange traded funds (ETFs). Gabor Gurbacs, the director of digital asset strategy at VanEck thinks that a Bitcoin ETF could help the economy in the United States in the next decade. He made the remarks in an interview with Fox Business, in which he spoke to the host Liz Claman, right in the midst of the Senate Banking Committee hearing on Facebook's Libra cryptocurrency. During the hearing, the Democratic Senator Sherrod Brown torched Facebook for its data breach signals which are in the altcoin news lately, stating that the social media monopoly has proven that it does not deserve the public's trust with any data - much less with the users' sensitive information. However, VanEck thinks that a Bitcoin ETF could be helpful to the economy.
“Like a toddler who has gotten his hands on a book of matches, Facebook has burned down the house over and over. Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust,” Senator Sherrod Brown stated.
In response to this, Gurbacs of VanEck thinks that these opinions are quite negative, unwarranted and stem from a lack of understanding of crypto. As he stated, a Bitcoin ETF could facilitate innovation that could buoy the US economy in the next 10 years:
“We are waiting finally for regulators to approve a bitcoin ETF, which would bring digital assets under the regulated American capital market. This could be, for the next decade, the driver of our economy.”
Gurbacs said that the United States should harness the innovative technologies to upgrade US payments systems as well as its capital markets infrastructure. He argues that doing this would make America a world leader in the digital economy.
“I think America realized that it needs a 10-year plan to make markets great again, and basically, a 10-year plan to rebuild the payments and financial infrastructure system that we’re lagging behind on. This may be a driver to innovate and rebuild America’s payments systems and capital markets,” Gurbacs noted, for which he was featured on many best cryptocurrency news sites.
The head of digital asset strategy at VanEck thinks that while President Trump and Secretary Mnuchin have negative views on Bitcoin, they must be challenged to think about it from a different perspective.
“Bitcoin — specifically bitcoin, not other digital assets — can rebuild the [U.S.] payments system. We can satisfy all the regulatory needs and government needs to rebuild the [capital] markets,” Gurbacs concluded.
   
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





ADVERTISEMENT

cryptocurrency review

ADVERTISEMENT

Join us on Facebook

Recent Posts

ADVERTISEMENT

UPCOMING EVENTS RECOMMEND BY DC FORECASTS

august

No Events

NEWS CATEGORIES

ADVERTISEMENT

Trending Worldwide

X
X