DADI Cryptocurrency Rebrands to EDGE » The Merkle Hash

25m
cryptonewmedia

McDonald’s and Nestlé Dive Into New Blockchain Pilot to Stop Fraud

1h
dailyhodl

Do ICO’s keep their promises? Analyzing the roadmaps of 2018’s ICOs

1h
bitcoinwarrior

Sally Ho’s Technical Analysis 18 July 2019

1h
cryptonewmedia

Sally Ho's Technical Analysis 18 July 2019

1h
cryptodaily

Central Banks and Cryptocurrencies: Natural Born Enemies, or Soon-to-Be Friends?

1h
cryptoglobe

Which One Should You Invest More? » The Merkle Hash

1h
cryptonewmedia

BTCPay Server Announces Crowdfunding Campaign for Tor Project

2h
beincrypto

Litecoin Leads The Way: As Bitcoin Plummets, Altcoins Rise Across the…

3h
cryptonewmedia

Trade smarter, only on Coinbase

3h
cryptonewmedia

Coinbase Announces Three Data-Based Trading Signals for Users

3h
cointelegraph

Rebel Nintendo Scorns Sony and Microsoft With Updated Switch

3h
cryptonewmedia

EOS Price Prediction: Will It Go Up To $10 At The End of 2019

3h
nulltx

Ocasio-Cortez Criticizes Corporate-Controlled Money in House’s Libra Hearing

3h
cointelegraph

Litecoin Leads The Way: As Bitcoin Plummets, Altcoins Rise Across the Board

3h
cryptonewmedia

Lotus is Building a Sensational Electric Hypercar » The Merkle Hash

3h
cryptonewmedia

Meltem Demirors Weighs in on ‘Shitcoin’ vs. Bitcoin – for Congress

3h
dailyhodl

Key Comments From Libra Hearing at US House of Representatives

3h
cointelegraph

FaceApp Thrusts User Privacy into Spotlight amid Russian Ties

4h
cryptonewmedia

Bitcoin Could Shed 20% & Drop to $7,400 Because Bulls Look Exhausted

4h
cryptonewmedia

Coinbase imposes minimum deposit restriction for British users

4h
bitcoinwarrior

Coinbase Releases New Data Tools for ‘First-Time’ Crypto Investors

4h
coindesk

Litecoin Leads The Way: As Bitcoin Plummets, Altcoins Rise Across the...

4h
newsbtc

Netflix Stock Implodes, Subscriber Exodus Ignites 12% Plunge

4h
cryptonewmedia

World Economic Forum Report Evaluates the Value of Blockchain

4h
cryptonewmedia


Bitcoin [BTC] Aiming for $12,000 After Walloping in Declines for 24 Hours

coingape

6d ago

Bitcoin hit a snag slightly above $13,000 yesterday. The momentum that was believed to be strong enough to push Bitcoin above June highs, turned out to be nothing but a bear trap. It appears that the bears were waiting for a catalyst to acutely revenge following the gains from the lows traded in the first week of July around $9,657.

Experts and analyst link the devastating drop to comments from the highest regulator in the United States, the Federal Reserve Bank. The chairman of the central bank Jerome Powell said that Libra cannot go on unless certain issues are addressed. Moreover, Facebook’s “Libra raises many serious concerns regarding privacy, money laundering, consumer protection, and financial stability.” Powell was speaking at is semi-annual testimony on monetary policy before the U.S. House of Representatives Financial Services Committee on July 10.

While the comments are not directly linked to Bitcoin, they had a far-reaching impact on Bitcoin as the price tanked 7% during the presentation. Declines progressed after the presentation to the extent Bitcoin stopped just above $11,000. Looking back, the announcement of Libra last month gave Bitcoin a boost to new 2019 high. Therefore, it appears that Libra exposes a lot in the regulatory space for digital assets and performance of the cryptocurrency market could in future depend on how regulation is handled when it comes to Libra

Bitcoin, on the other hand, has revamped the bullish trend and is pushing for a reversal. A break above $12,500 hurdle has paved the way for correction to the current $11,696. Technically looking at Bitcoin, chances for growth are immense with $12,000 being in focus.

The price is still trading under the 100 Simple Moving Average. However, other technical indicators send positive signals. For instance, the Relative Strength Index (RSI) is currently above the oversold and moving towards the average. The MACD has slowed down the downward slope and could soon increase the divergence north as an indicator of rising buying pressure.

Key Support Areas: $11,000, $10,500 and $9,500.

Key Hurdles: $12,000, 100 SMA, $13,000 supply zone.

RSI: Trending upwards.

MACD: Moving horizontally after the drop; suggests diminishing selling pressure.

John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

Digital Assets Will Cause Millennials To Dump Gold For Bitcoin- Barry Silbert

Bitcoin hit a snag slightly above $13,000 yesterday. The momentum that was believed to be strong enough to push Bitcoin above June highs, turned out to be nothing but a bear trap. It appears that the bears were waiting for a catalyst to acutely revenge following the gains from the lows traded in the first week of July around $9,657.

Experts and analyst link the devastating drop to comments from the highest regulator in the United States, the Federal Reserve Bank. The chairman of the central bank Jerome Powell said that Libra cannot go on unless certain issues are addressed. Moreover, Facebook’s “Libra raises many serious concerns regarding privacy, money laundering, consumer protection, and financial stability.” Powell was speaking at is semi-annual testimony on monetary policy before the U.S. House of Representatives Financial Services Committee on July 10.

While the comments are not directly linked to Bitcoin, they had a far-reaching impact on Bitcoin as the price tanked 7% during the presentation. Declines progressed after the presentation to the extent Bitcoin stopped just above $11,000. Looking back, the announcement of Libra last month gave Bitcoin a boost to new 2019 high. Therefore, it appears that Libra exposes a lot in the regulatory space for digital assets and performance of the cryptocurrency market could in future depend on how regulation is handled when it comes to Libra

Bitcoin, on the other hand, has revamped the bullish trend and is pushing for a reversal. A break above $12,500 hurdle has paved the way for correction to the current $11,696. Technically looking at Bitcoin, chances for growth are immense with $12,000 being in focus.

The price is still trading under the 100 Simple Moving Average. However, other technical indicators send positive signals. For instance, the Relative Strength Index (RSI) is currently above the oversold and moving towards the average. The MACD has slowed down the downward slope and could soon increase the divergence north as an indicator of rising buying pressure.

Key Support Areas: $11,000, $10,500 and $9,500.

Key Hurdles: $12,000, 100 SMA, $13,000 supply zone.

RSI: Trending upwards.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments