In today’s Bitcoin news, we see the flagship cryptocurrency rising from $3,210 to $3,588 over the past three days – which is a surge of about 12% against the US dollar. At the same time frame, the cryptocurrency market has added $11 billion to its valuation and avoided a new drop below the $100 billion mark which could have been very critical for the short-term trend of the market and Bitcoin as well.
Major cryptocurrencies such as Ethereum (ETH) and Bitcoin Cash (BCH) managed to get back on their feet and rebound from low double digits. The technical indicators started showing extremely oversold conditions – but despite this – traders and analysts remain cautious towards the price trend of cryptocurrencies until major resistance levels are broken.
The $3,700 mark for Bitcoin means that a small bullish momentum is building up over the past few days. According to DonAlt who is a prominent cryptocurrency technical analyst, Bitcoin must remain in a tight range in the $3,000 region until it breaks out of it to engage in a major price movement.
“Another good day for BTC. That said it’s still nowhere close to turning bullish on the higher time frames. While the low timeframes look decent, BTC hasn’t even reclaimed the previous trading range. Until it does, no swing long trades,” the analyst said in a tweet.
Another analyst named Alex Kruger talked about the general losses of Ethereum and Bitcoin Cash this year,explaining:
“Performance from all-time-highs to date, for the main crypto assets: BTC -82%, XRP -86%, ETH -93%, BCH -95% (using Bitfinex’s data). These may all look equally bad. It is not so. The difference between -82% and -95% is a further 72% drop.”
Historically, the cryptocurrency market needs around 67 weeks on average to recover from a large correction and achieve new highs.
Binance Plans To Expand To Eight New Countries But Declines To Confirm Six Of Them
The $400bn Tencent And Its Plans To Acquire Two Major Bitcoin Exchanges
Bitcoin Could Soon Fall To $2,400 And Wall Street Could Buy The Dip
"We believe this thesis still remains intact which could mean seeing a break of the lows in the coming weeks. A 25% selloff in BTC from the current lows of $3,200 would be to roughly $2,400."He also shared that the next sell-off could be just what the crypto market needs in order to finally break the backs of the bears and reach a new bull momentum in 2019.
Bitcoin ATM Operator Coinme To Start Selling BTC At Coinstar Counting Machines
“Bitcoin is now accessible at your local grocery store via Coinstar kiosks, and this offering will make it even easier for consumers to participate in this dynamic new economy.”Coinstar, on the other hand, offers coin-to-cash conversion in their kiosks in multiple countries around the world but it still remains unknown whether the Bitcoin feature will expand just as quickly as it did in the US. Coinstar’s CEO Jim Gaherty noted: Coinstar offers coin-to-cash conversion kiosks in various countries throughout the world. It remains unknown whether the Bitcoin feature will expand beyond the U.S., while the company did not provide figures on how many machines will offer it.
“Coinstar is always looking for new ways to offer value to our consumers when they visit our kiosks.’’According to CoinATMRadar industry monitoring resource, there are more than 4187 Bitcoin ATMs worldwide and more than 60 percent or 2516 are in the United States. The market has grown plenty over the years and many operators are trying to get control of what they think to become a fairly popular trend for crypto usage.
Join us on Facebook
- Binance Plans To Expand To Eight New Countries But Declines To Confirm Six Of Them
- Deloitte Features Blockchain In Its Annual Tech Trends Report
- Crypto Payments Platform CoinGate Begins Its Lighting Network Trial With Litecoin (LTC)
- The $400bn Tencent And Its Plans To Acquire Two Major Bitcoin Exchanges
- Bitcoin Could Soon Fall To $2,400 And Wall Street Could Buy The Dip
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Ethereum News4 days ago
Coinbase And Kraken Officially Supporting ETH’s Constantinople Hard Fork
Altcoin News5 days ago
Major Swiss Bank Launches A Crypto Custody Solution Targeting Banks & Asset Managers
Bitcoin Scams4 days ago
New Torrent Malware Posing As Movie File Can Replace BTC & ETH Addresses: Researcher
Altcoin News2 days ago
Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
Bitcoin News4 days ago
American Businessman Still Missing After $950,000 In BTC Ransom Paid
Altcoin News2 days ago
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
Blockchain News4 days ago
The Revenue Agency Of Bulgaria Will Investigate Crypto-Selling Companies
Bitcoin Scams1 day ago
21-Year Old Accused Of Stealing More Than $24 Million Worth Of Crypto