Cryptocurrency sentiment is running scared, which from a contrarian perspective is more bullish than most suspect. Google searches for Bitcoin information have hit the highest level in the past six months. That’s an indication that the lower prices are now sparking renewed interest in Bitcoin. It’s still questionable whether or not we’ve seen a final […]
Almost every mainstream media outlet, financial and otherwise, is telling us Bitcoin is dead and heading to zero. It’s only about the 377th time this has been said about Bitcoin, but this time there are apparently more believers in that possibility. The strong selling in the past three weeks is from those who believe the […]
The cryptocurrency market continues to trade in a very tight price range. Volatility, which is a measure of the price swings and how fast prices move, has never been this low for the amount of time we’re currently experiencing. For example, Bitcoin has remained inside a $600 trading range, roughly between $6,200 and $6,800, for […]
China has its Year of the Dog (this year, 2018), while the cryptocurrency market has its Year of the Bear. That’s if this year’s bear market in cryptocurrencies lasts until December, which is just a guess since it might already have ended. If not, that would mean the crypto bear will have lasted a year. […]
Bitcoin (BTC) has drifted higher over the past three weeks but the rise off the August 14th low has developed into a small bearish rising wedge pattern, outlined with the red lines on the chart. Price is near the top of the wedge, currently nearing $7,500, and the price rise is starting to show weakening […]
Bitcoin has had a nice rally in the past week, up about 14% from its low near $6,250 to a high of $7,126 on August 28th (the time of this writing). Other altcoins have done even better. So is this it? Is this the start of the new bull run for Bitcoin? I wish I […]
As I mentioned to my subscribers last week, Bitcoin rallied up to resistance last week at the top of a possible descending wedge pattern (bold purple lines) and stopped just short of its 200-day moving average. This moving average stopped the previous rally attempt into the May 5th high and it remains possible we’ll see […]
Billionaire and cryptocurrency bull Tim Draper is holding steady to his $250,000 Bitcoin prediction by 2022. He first made the prediction on April 12th, at ‘2018 Block (Chain) Party’, at his self-named Draper University in San Mateo, California. He said then: “I’m thinking $250,000 a bitcoin by 2022.” “Believe it. They’re going to think you’re crazy, […]
London-based HSBC financial services and bank claims that it has initiated the world’s first trade finance transaction utilizing blockchain technology. The bank says the transaction occurred in early May. Blockchain is the underlying technology system that allows for the anonymous creation and verification of Bitcoin and other cryptocurrencies. The creation of cryptocurrencies is recorded on […]
A four-year-old startup with a funny name holds about $10 billion dollars’ worth of Bitcoin — about 7% of all Bitcoin in existence — in impenetrable bunkers around the world. Because rich people want it that way. The company, Xapo, is the brainchild of serial web entrepreneur Wences Casares. His clientele includes millionaires and billionaires that […]
