The price of Bitcoin is boring again after it fell below the $8,000 for the zillionth time. As we can see in the Bitcoin latest news, BTC failed to crack resistance at $8,300 and suddenly reversed below the psychological level at $8k.
According to data from Coin360, there is sideways activity for BTC/USD on Tuesday with the 24-hour figures being slowed down between $8,160 and $8,290. After two major attempts to grind higher, the pair saw major rejection at $8,300 and is now in line with projections from analysts who previously said that there is a heavy resistance close to $8,500.
Bitcoin is boring again and remains quiet now. The situation is same since the start of the weekend, when the markets managed to show a spike and exit the $7,000 range, staying higher since.
The short-term outlook nonetheless contains a few surprises. As we can see, the crypto news feature analysts who are not expecting shifts as the week progresses.
“To me it looks like an inside day in which we’re stuck between two levels (on the upper side; $8,300 and on the downside $8,170) without making a clear decision yet,” one analyst said in private comments on Twitter.
He also continued and stated:
“If either way we crack one of the levels, a volatile move should occur of a few hundred dollars. On the upside, if we clear $8,300 I wouldn’t be surprised with a push towards $8,500-8,600, however if we break the lower floor, a retest of $8,000 is quite likely to occur.”
As we reported before, Bitcoin is boring because of the price volatility and a couple of other factors. With this being dropped, investor interest is still evolving and institutional money needs to start pouring in. All of this could help BTC escape the rat race and increase its price, potentially heading to $10,000.
Meanwhile, the altcoin news show that the markets moved a bit. While no token saw any significant shifts, the top ten by market cap typically moved up and down by around 2%. Ether (ETH) which is the largest altcoin, is trading down by 1.5% at $174 right now. By contrast, Ripple’s XRP token gained around 1.3% this time and reached just below $0.30.
‘Golden Cross’ For BTC May Result In Gains To $26,000 By Halving
“Last time this happened #Bitcoin pumped 170% in under 60 days,” he summarized.His comments were echoed by many other analysts. And as he added that at press time, levels of around $9,800 show that Bitcoin regained support in an overall bullish ascending price triangle, the sentiment was also echoed by another fellow Cointelegraph Markets analyst named Michael van de Poppe, who said:
“And so, we've bounced on the green area around $9,450-9,500. That was heavily needed. We could still see a period of relative calm movements, before we're either attacking the highs at $10,400 or the lows at $9,500.”The past weekend left a significant gap between two Bitcoin futures trading sessions too. Historically, BTC has subsequently "filled" these gaps which is why many believe this will be a week when Bitcoin will visit $10,500. Still, the 'golden cross' is the biggest thing now and makes Wareing the third prominent Bitcoin figure to forecast major short-term gains this month only. Before this, we had Fundstrat's Tom Lee who said that Bitcoin could reach $27,000 by August, again because of the price beating out resistance from its 200-day moving average. After that, we saw Mike Novogratz commenting that BTC/USD might retest its all-time highs of $20,000 by the time of May's block reward halving. Anyways, the price of the most dominant cryptocurrency today is stable at $9,755 and may soon prepare for a jump to $9,800 and then $10,000 which is the five-digit level many are hoping to see Bitcoin reclaim. The coming altcoin news show that ETH, XRP, BCH and BSV have all regained much from their losses and are stable today with new potential gains on the horizon.
Moon Will Help Amazon Support Cryptocurrency Payments
- Through any Bitcoin wallet which is working with the Lighting Network (faster than normal transactions)
- Through the crypto balance on your Coinbase account - this was a big thing in the Coinbase news as all holders of accounts there can pay in a matter of seconds (the apps are interlinked)
Fractal Predicts A Near-Vertical Rise For BTC Above $10,000
Crypto Books Are Still Best Sellers On Amazon For 2020
Central Bank Of Russia Finished Blockchain Pilot For Tokenized Assets
Binance Will Compete With Amazon’s Cloud Services
Cosmos Tendermint Labs Director Resigns Due To Untenable CEO
Ripple Will Be The Amazon For Crypto: Brad Garlinghouse
Worldwide Cryptocurrency Regulation Turns Bearish
Rarible Blockchain Art Platform Sparks Fraud Discussions
New Bitcoin Drop Nets Bitfinex Whale $10 Million In 5 Minutes
GIFTO (GTO) Achieves A $9.65M Market Capitalization
Algorand: Building The First Open & Permissionless Blockchain Protocol
Namecoin NMC Started Trading Low By 15.4% Over Past Week
China Declares Bitcoin As Property! Central Banks Prefer Crypto? SONY “Contactless” Hardware Wallet
JPMorgan Predicts A 60% Recession, Is Crypto The Best Chance Now? | [Bitcoin News // Crypto News]
Ethereum Sees Record Number of Shorts! NEM Blockchain Hub | Samsung Blockchain Supply Logistics
Crypto Jobs Up 300%! Lost BTC 20% Rate of Recovery | Only 45% of Exchanges Meet Security Standards
DC Forecasts Proudly Backed The Global Disruptive Blockchain Innovation Summit
- Ethereum News7 days ago
JPMorgan To Merge With Ethereum’s ConsenSys Platform
- Blockchain News6 days ago
Cornell University Remains Leader In Crypto Education
- Ethereum News6 days ago
TRON Grows On Gambling Dapps And Ethereum On Gaming
- Bitcoin News7 days ago
Bitcoin Enters Five-Digit Zone Again After 4% Overnight Rally
- Bitcoin News5 days ago
Bitcoin On Valentine’s Day: Will Historic Data Favor BTC Bulls?
- Altcoin News5 days ago
Bitcoin And Altcoins Dip Remains Attractive To Bulls Now
- Bitcoin News4 days ago
Bitcoin Bull Run May Last 3 Years With $45,000 High: Tone Vays
- Bitcoin News4 days ago
Bitcoin Bulls Have To Prepare For Cryptocurrency Regulation Challenges