Bitcoin Price Plunges to New Yearly Low at $3,456: What’s Causing it?

Twitter Facebook LinkedIn On Coinbase and other major fiat-to-cryptocurrency exchanges, the Bitcoin price (BTC) has dropped to a new yearly low at $3,456. Over the past 24 hours, despite its relatively low daily volume at around $5.2 billion, BTC demonstrated a drop of over 12 percent, showing weakness in short-term momentum. The volume of BTC has since risen to $6.3 billion, mostly due to an overwhelming amount of sell orders. Free Fall Bitcoin Price (BTC/USD) | Coinbase The drop in the price of the dominant cryptocurrency on November 25 remains…

Bitcoin Falls to $3.4k as Retails Panic but Institutional Investors are Loving it

Bitcoin on Sunday has established another yearly low after extending its previous downside momentum. At press time, the BTC/USD pair is trading at 3823 on Coinbase after correcting from its intraday low at 3466. It marks a circa 45% loss just in November while contributing to an overall 82.5% loss since its manipulatively achieved all-time high. Unable to Recover Bulls are unable to pull off a substantial recovery period and most of the intraday actions to the upsides look to be coming from retailers executing their shorts. Ideally, the downtrend…

Down 36%: Bitcoin Price Faces Worst Weekly Loss Since April 2013

With bitcoin prices dropping further early on Sunday, the cryptocurrency now looks to be heading for its worst weekly loss in over 5 years. At press time, the leading cryptocurrency by market capitalization is trading at $3,520 on Bitstamp, representing a 36 percent drop from Monday’s opening price of $5,553. Unless the bulls can pull off a recovery, it’s looking to be the biggest weekly drop since the second week of April 2013, when prices fell 44.8 percent from $165  to $91. For the weekly loss to be confirmed on…

Bitcoin Price Weekly Analysis: BTC/USD Nosedives Below $3,800

Key Points Bitcoin price fell significantly and traded below $4,000 and $3,800 against the US Dollar. There is a major bearish trend line formed with resistance at $4,200 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is under pressure below $3,800 and it could even break the $3,500 support level. Bitcoin price tumbled more than 15% and broke the $3,800 support against the US Dollar. BTC/USD could accelerate declines towards the $3,500 level. Bitcoin Price Analysis This past week, there was a tiny upside…

Ethereum Price Weekly Analysis: ETH/USD Tumbles Toward $100

Key Highlights ETH price is under a lot of pressure and declined below $125 and $115 against the US Dollar. There is a crucial bearish trend line formed with resistance at $115 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could even break the $100 support level if sellers remain in action in the near term. Ethereum price fell significantly versus the US Dollar and Bitcoin. ETH/USD is likely to test the $100 support level considering the current price action. Ethereum Price Analysis The past few…

Singapore Grants RMO License for CapBridge to Operate New Security Exchange

Global private capital platform CapBridge Pte. Ltd. has garnered a license from the Monetary Authority of Singapore (MAS) to operate a security exchange known as 1exchange (also called 1X), which became operational on November 21, 2018. The exchange is designed to organize liquidity for private companies prior to exit events like an M&A (merger and acquisition) or an IPO (initial public offering). In an interview with Bitcoin Magazine, CEO and founder of CapBridge Johnson Chen said that the process of obtaining the license took nearly two years. Steps included identifying…

One Week Later: The Latest Developments in the Bitcoin Cash Split

Bitcoin Cash, the “big block” project that forked away from the Bitcoin blockchain in August 2017, “hard forked” (split) into two different coins last week: “Bitcoin Cash ABC” (BCHABC) and “Bitcoin Cash SV” (BCHSV). One week later, the Bitcoin Cash ABC chain has accumulated more proof of work and has been “ahead” of the Bitcoin Cash SV chain practically since the split. Its native currency, BCHABC, is also trading higher on exchanges. Most Bitcoin Cash ABC proponents, therefore, feel victorious — but not all Bitcoin Cash SV proponents consider the…

Analyst Falsely Claims Bitcoin Price Decline Will Spark Gold Rally

Twitter Facebook LinkedIn Stephen Innes, the head of trading for the Asia Pacific region at foreign exchange (FX) trading giant Oanda, has said that the plunge in the value of bitcoin and crypto will lead to a surge in the price of gold. In an interview, Innes said: “There’s still a lot of people in this game. If Bitcoin collapses, if we start to see a run down toward $3,000, this thing is going to be a monster. People will be running for the exits. I don’t think coins are…