The price of Bitcoin slightly breached the psychological level of $3500 yesterday and still has not been able to escape its gravity as of this writing. The current selloff brought back the memories of the time when BTCUSD fell to $3122 a month ago. And while in the markets everyone is an expert in retrospect,…
Here is Why BTCUSD is Down 40% in Less than a Month
The price of Bitcoin is declining at an unprecedented speed. Less than a month ago, BTCUSD was hovering above $5500. Last week it fell to as low as $3210, prompting Peter Mallouk, chief investment officer at Creative Planning Inc., to call Bitcoin a “dead man walking”. However, the truth is it didn’t take a professional money manager…
Bitcoin Was Going “to the Moon”… And Then It Wasn’t
What a difference a year can make. This time last year Bitcoin was thought to be going “to the moon” by a great majority of people. BTCUSD was approaching the $20 000 mark at the time and financial gurus, hedge fund managers, celebrities and small individual investors alike were rushing to join the bulls. Many…
Bitcoin Selloff Crushes Bulls’ Faith in $6k Support
The last several months have been unusually quiet for the price of Bitcoin. The largest cryptocurrency first touched the support area near $6000 in February and has been testing it multiple times since. This support looked so strong for so long that traders and investors started believing BTCUSD was getting ready for the next major…
Elliott Wave Ahead of Bitcoin ‘s Goldman-Inspired Crash
Bitcoin was trading above $7400 on Wednesday morning, following a recovery from as low as $5880. Crypto investors hoped the rally will continue, but they could not predict that just a few hours later Goldman Sachs will say it is abandoning its plans to establish a cryptocurrency trading desk, citing the ambiguous regulatory environment as…
Bitcoin and BitMEX Trading Halt in Elliott Wave Context
Bitcoin shot up by over $400 in as little as 20 minutes today in a move some crypto experts attributed to a short squeeze during BitMEX’s scheduled maintenance. Unfortunately, BitMEX’s trading halt can explain the surge only in hindsight, which means even crypto experts did not expect it. For example, Don Le, CEO of ChainRock…
Another Week, Another Bitcoin Bloodbath
Another week, another bloodbath for Bitcoin. The largest cryptocurrency climbed to $6815 on Monday, but the bulls quickly lost control and suffered a sharp plunge to $6072 four days later on Thursday. And while bullish predictions by crypto “experts” still call for $60 000 by the end of the year or $280 000 by 2023,…
Bitcoin Falls Because of a 13th Century Mathematician
The price of Bitcoin, the largest cryptocurrency out there, just fell to its lowest level since the start of the year. The previous major low of $5920, registered in early-February, has finally been breached. BTCUSD is currently hovering around $5850, which brings its total loss for the week to 9.3%. But why is Bitcoin crashing…
Four Days Ahead of Bitcoin’s “Red Sunday”
Bitcoin is plunging yet again. Following a small recovery from $7027 to $7791 in the first week of the month, BTCUSD just breached the support of $7200 and still seems to be in a downward spiral from its December 2017 high of $19 666. But let’s ignore the bubble-or-not-a-bubble talk for a moment and concentrate…
EOS Crypto Bulls Ready for a New Record High
In just two short weeks, EOS – the fifth largest cryptocurrency by market capitalization – fell from an all-time high of $23.03 to as low as $12.05, losing almost 48% of its value. As the price of EOS is approaching the $15 mark now, traders are wondering what to expect from now on – more weakness…
Bitcoin: UpBit Fraud Scandal Just a Catalyst
After the price of Bitcoin rose twenty-fold in 2017, the majority of crypto investors were expecting even bigger gains in 2018 as the digital currency was finally entering the mainstream. Alas, so far that is not the case as BTCUSD plunged by roughly 70% in just a month and a half. But instead of going…
Dash Traders Setting Their Sights on $550 a Coin
In less than four months, between December 20th 2017 and April 6th 2018, Dashcoin fell from an all-time high of $1550 to as low as $287, losing over 81% in market value. Fortunately, the month of April has been more generous, allowing the bulls to take a breather and lift Dash prices to $544 by…
Ripple Bulls Finally Ready to Conquer $1 Again?
The cryptocurrency crash of the first three months of 2018 did not spare anyone. Most virtual currencies lost between 60% and 80% of their market capitalization and Ripple, which was briefly the second largest after Bitcoin, plunged as well. Between January 4th and April 1st, XRPUSD fell from its all-time high of $3.3170 to as…
Bitcoin Crashes. Is the SEC to Blame?
This looks like another terrifying week Bitcoin investors will have to suffer through. The price of the biggest cryptocurrency has been in a tailspin in the last couple of days. After the bulls could not breach the resistance of $11 780 on Monday, a sharp selloff dragged BTCUSD to as low as $9 450 by…
Litecoin Bulls Searching for Fibonacci Support
Litecoin, the fifth largest cryptocurrency by market cap, reached its all-time high in mid-December, 2017, accompanied by most other virtual tokens, including the biggest one in the face of Bitcoin. The following crash, which erased almost 70% of Bitcoin’s market cap, wiped out over 71% of Litecoin’s capitalization after the price dropped from over $370…
