Friday, January 24Your Daily Bitcoin & Altcoin News Portal

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Bitcoin is Tanking Despite Coronavirus Fears, Showing Lack of Characteristics as Safe Haven

Bitcoin is Tanking Despite Coronavirus Fears, Showing Lack of Characteristics as Safe Haven

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Please share if you find this article interesting. Bitcoin is Tanking Despite Coronavirus Fears, Showing Lack of Characteristics as Safe Haven Bitcoin prices on Friday are plunging after marking their highest levels in over two months, hurt by an improving outlook of the eurozone economy, the stronger dollar, and – none the least – the Bitcoin ends winning streak as demand fades at local top | Source: TradingView.com, CoinbaseGlobal Market Reassesses Coronavirus RisksBitcoin’s losses appeared as investors’ appetite in risk-on markets improved on Friday, for they brushed aside fears of the economic impact of the Coronavirus and embraced more-than-expected manufacturing data from Germany and France.The European stocks rose higher, with the Stoxx Europe 600 surging 0.9 percent. Chin

Key Google Metric: Bitcoin May Explode Into $100,000 Parabolic Rally

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Please share if you find this article interesting. Key Google Metric: Bitcoin May Explode Into $100,000 Parabolic Rally Since Bitcoin investors got a taste of parabolic price action in early-2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more.According to a Google Trends analysis, another parabolic rally is about to form again in the cryptocurrency market again. Considering historical rallies, this next bull market could bring BTC above $100,000, some analysts have suggested.Google Trends Suggests Bitcoin to Soon ExplodeCryptocurrency analyst Cryptokea recently noted that the worldwide Google Trends, well, trends for the search term “Buy Bitcoin” have recently hit a seven-month high — the highest since June 2019.More spe
A Bitcoin Plunge To $8,000 On The Horizon, As Bulls Show Weak Hands

A Bitcoin Plunge To $8,000 On The Horizon, As Bulls Show Weak Hands

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Please share if you find this article interesting. A Bitcoin Plunge To $8,000 On The Horizon, As Bulls Show Weak Hands Bitcoin price failed to stay above the key $8,500 support area and extended its decline against the US Dollar. BTC price is likely to continue lower towards $8,000 or $7,880.Bitcoin started a strong corrective decrease from the $9,200 resistance area.The price broke the key $8,500 and $8,470 support levels to move further into a bearish zone.Yesterday’s highlighted key bearish trend line is active with resistance near $8,470 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair is likely to extend its decline towards the $8,000 support level in the near term.Bitcoin Price Is Facing HurdlesYesterday, we discussed the Bitcoin PriceThe next key re
Ripple (XRP) Is Plunging And Here’s Why It Could Retest $0.20

Ripple (XRP) Is Plunging And Here’s Why It Could Retest $0.20

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Please share if you find this article interesting. Ripple (XRP) Is Plunging And Here’s Why It Could Retest $0.20 Ripple extended its decline and broke the key $0.2270 support against the US Dollar, similar to Ripple PriceMore importantly, this week’s major bearish trend line is still active with resistance near $0.2295 on the hourly chart of the XRP/USD pair. If there is a clear break above the trend line and $0.2300, the price could start a decent upward move towards $0.2400.XRP Remains At RiskIf XRP fails to correct above $0.2270 or $0.2300, it is likely to extend its decline. The first key support is near the $0.2150 level. If the bears push the price below $0.2150, there is a risk of a sharp decline below $0.2100.In the mentioned case, ripple price may perhaps decline towards
Ethereum Just Broke $160 And It’s Vulnerable to a Larger Decline Below $155K

Ethereum Just Broke $160 And It’s Vulnerable to a Larger Decline Below $155K

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Please share if you find this article interesting. Ethereum Just Broke $160 And It’s Vulnerable to a Larger Decline Below $155K Ethereum price is declining and it recently broke the $160 support, similar to bitcoin. ETH price is likely to continue lower below the $158 and $155 support levels in the near term.Ether price is showing a few bearish signs below the $162 level against the US Dollar.The bears seem to be in control and they are likely to aim a larger decline below $155.This week’s key bearish trend line is in place with resistance near $164 on the hourly chart of ETH/USD (data feed via Kraken).Bitcoin is also sliding and it recently broke the key $8,500 support area.Ethereum Price Starts Substantial DecreaseAfter Ethereum failed to climb above the $170 resistance, Ethere
Bitcoin Plunges on Profit-taking, Losses Limited by Coronavirus Outbreak

Bitcoin Plunges on Profit-taking, Losses Limited by Coronavirus Outbreak

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Please share if you find this article interesting. Bitcoin Plunges on Profit-taking, Losses Limited by Coronavirus Outbreak Bitcoin entered a negative slope on Thursday as traders took profits from its latest price rally. But the cryptocurrency remained above a strong technical support level.Spot Bitcoin risks fall but hold above $8.2K support | Source: TradingView.com, CoinbaseA further break below brings bitcoin inside the Descending Channel pattern, which risks a plunge towards $6,420 – the local bottom as of now.Meanwhile, a pullback from the 200-MA or before could have bitcoin close in on $10,000 as a primary upside target. The level has served as solid support for the cryptocurrency. Go to Source Author: Yashu Gola Found this article interesting? Kindly share it on
XRP, Ethereum and Bitcoin Cash Dive in Altcoin Purge: What’s Triggering It?

XRP, Ethereum and Bitcoin Cash Dive in Altcoin Purge: What’s Triggering It?

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Please share if you find this article interesting. XRP, Ethereum and Bitcoin Cash Dive in Altcoin Purge: What’s Triggering It? Top The cryptocurrency market cap (excluding bitcoin) fell by more than 3.5% on Thursday | Source: TradingView.com, CoinMarketCapBitcoin CorrelationThe fall in altcoin prices closely followed similar downside movements in the bitcoin market. The benchmark cryptocurrency, which has a positive median correlation with almost every rival asset, itself plunged by as much as 3.25 percent on Thursday, as shown in the chart below.Bitcoin extended its downside correction on Thursday by another 3.25% | Source: TradingView.com, CoinbaseSo it appears, assets with the highest correlation with Bitcoin (like Ethereum) fell in similar proportions, while a few with medium
Bitcoin Just Violently Rejected $8,600: Here’s Why It Likely Means Retest of $7,000s

Bitcoin Just Violently Rejected $8,600: Here’s Why It Likely Means Retest of $7,000s

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Please share if you find this article interesting. Bitcoin Just Violently Rejected $8,600: Here’s Why It Likely Means Retest of $7,000s The bitcoin price just strongly rejected the $8,600 level, breaking down from a tight range for the first time in four days. BTC dropped below $8,400 on major exchanges like BitMEX, leaving the dominant cryptocurrency vulnerable to a deeper pullback.Similar price movement as when bitcoin rejected $10,600On October 26, the bitcoin price increased to as high as $10,600. It rose 43 percent within a two-day span in an upside movement primarily driven by a big short squeeze.Following the upsurge, the bitcoin price remained volatile within a relatively tight range between $9,000 to $9,500. Two weeks after hitting $10,600, the bitcoin price went on to d

Bitcoin’s Price Will Go Parabolic Above $10,000 If This Level Holds

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Please share if you find this article interesting. Bitcoin’s Price Will Go Parabolic Above $10,000 If This Level Holds Bitcoin has been on an absolute roll over the past month, surging from $6,400 to $9,200 in a jaw-dropping fashion. Altcoins have followed suit, posting even more impressive gains as buyers have finally stepped in.Related Reading: This Reason Is Why Analysts are Worried About Ripple’s XRP Despite 35% RallyPrices have since stalled, with BTC now trading at $8,500, as just reported by NewsBTC. Despite this 8% drop from the local high, a prominent trader is sure that as long as Bitcoin holds a price level, it will remain in a short-term parabolic trend that will bring the cryptocurrency’s price into five digits.Bitcoin Needs to Hold This Level to Go ParabolicOver the

Bitcoin Just Slid Under $8,500: Price Must Hold This Level to Satisfy Bulls

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Please share if you find this article interesting. Bitcoin Just Slid Under $8,500: Price Must Hold This Level to Satisfy Bulls Since the day started (PST), Bitcoin has plunged, collapsing from the daily high just above $8,700 to $8,460 as of the time of writing this — a drop of just around 3%. Right now, prices are the lowest they have been in days, nearly a week with BTC failing to maintain the bullish momentum seen last week when the cryptocurrency market surged dozens of percent higher, bringing Bitcoin to $9,200. With this latest plunge, investors have begun to fear that the rally that brought BTC from $6,400 to $9,200 is over. But is it really?Related Reading: These 3 Reasons Are Why Bitcoin’s Price May Soon Explode Past $10,000Is This is For Bitcoin?Right now, it doesn’t se