Bitcoin Price Advances to Altitude at $260
A spectacular Bitcoin price surge has advanced to near $260 (Bitfinex) and 1638 CNY (BTC-China). The parabolic advance has left the market wondering about the next move and at the time of writing a bout of profit-taking has set in. The wave seems to be topping out in a familiar ending diagonal, whereby successive smaller waves punch to higher highs. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 16h58 UTC. Bitfinex 15-Minute Chart.....
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It was just several days ago we reported on an issue some Circle Internet Financial users were experiencing. If you're not up to date, here's how it went. Some users of the new service (which is in invitation-mode only at the moment) had reported being charged fees by their financial institutions for taking out cash advances, when in actuality they were just buying bitcoin at Circle. Those cash advances come with hefty fees, and Circle previously made the following statement: We've become aware that some credit card issuing banks are erroneously processing settlements as cash advances. It....
The bitcoin price advance of the past few weeks has been as relentless as it has been vexing. I must confess I have been stymied and surprised by the inexorable strength of this advance off the 750 low. However, all advances must end sooner or later. This begs the question: when? Even a novice Elliott Wave reader can see that there were (2) 5 waves completed at the 1080 high. That was also the place where the 2nd arc of the 4th pair stopped the rally. Well, it turns out that as of this very moment, pricetime has again met the very same arc that stopped the last rally. Will it get through....
Readers of the weekend update article will no doubt now understand why I said that I was going to pocket my gains in bitcoin at the $715 point. To recap, this is what the daily chart looks like: I pointed out that as of Saturday night, pricetime was bumping up against 4th arc resistance. While 4th arcs do not typically stop strong advances such as this one cold (but NEVER say never), they quite often slow advances down with a pullback. So it was that I suggested that it was a good time to pocket the $80/coin we had made since we called the start of the advance at the end of the 3rd square.....
Ethereum prices dropped on Wednesday as traders decided to secure their short-term profits at the cryptocurrency’s sessional high. The second-largest blockchain asset plunged by up to 4.92 percent to its mid-March support level of $1,771. Its move downhill appeared mostly due to its strong positive correlation with Bitcoin, the world’s leading cryptocurrency by market cap. […]
The IMF warns that central banks may have to rethink what constitutes their reserve currency holdings. In a recent study, the global lender points to the changing geopolitical landscape, technological advances and the impact of the Covid-19 pandemic as events likely to influence the composition of reserves. Advances in Financial Technologies In addition to the US dollar, other currencies like the Euro, the Japanese and the British pound act as settlement currencies in global trade. Still, the US dollar dominates when it comes to its status as the world’s reserve currency. However,....