Bitcoin continues to be subdued as financial markets are under pressure due to increased uncertainty generated by COVID-19. What’s even more concerning for BTC investors has to do with the S&P500 correlation. More than a month ago we’ve talked about a Binance research showing cryptocurrencies were correlated with stocks. The
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Following a period of diminishing volatility, Bitcoin buyers seem to be energized again, now that the price had managed to break a triangle pattern on the upside. Covered in our last weekly analysis, the price action pattern had capped Bitcoin since the beginning of June, but now that buyers finally
Following two months when Bitcoin and stocks had small correlation, things had taken a new turn since a few days ago, when both asset classes started to weaken as the fears new coronavirus wave emerged around the world. Several US states are having difficulties in keeping infections under control, while
As we’ve been highlighting since a few weeks ago, Bitcoin had finally reached the key $10,000, broke above it, but stalled around $10,400 only to resume the selloff impulsively. A lot of talks are on this brief selling move, which wiped out approximately $1,100 from the Bitcoin’s value. Bitcoin buyers
Despite managing to rebound from the March lows, interesting flows of BTC occurred on exchange platforms. The market panic led to record outflows, which may have to do with two important reasons. Bitcoin is still an outperformer in 2020, trading in the green territory, after erasing its yearly gains when
There’s no significant sign of weakness in the Bitcoin bull run and that’s raising the prospects for the near term, given that an impulsive breakout above the $10,000 area could occur. Up until now, Bitcoin remained stable after the halving, communicating market participants continue to be bullish. Sellers don’t seem
The 2020 Bitcoin halving had been successfully executed and now the block reward is 6.25 BTC. This drop in new daily supply is viewed as a deflationary pressure and in the long run, it should support a higher valuation for Bitcoin. Interestingly, though, the price continues to remain stable and
The positive mood in the cryptocurrency market had continued for the past few days and as a result, Bitcoin had managed to reach the $10,000 area for the first time since February 25th. After erasing all the March losses, the coin is now back in positive territory on a yearly
May 11th, 2020 is the big date for Bitcoin this year, which is when the third halving will take place. Block rewards will be cut into half to 6.25, but it the price action development surrounding the event which drew the most attention these days. According to Google Trend, searches
The Bitcoin sentiment had been improving over the past few days and less than 24 hours ago, the price action broke above the April 7th swing high, with high volume, suggesting there’s a broad interest to push valuations higher. We’re approaching the May halving date and as we’ve already mentioned
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