A Bitcoin Correction Towards $55,000 Likely At The End of Week
Sliding US bond yields undermined the dollar and prompted bitcoin's climb on Thursday. Nevertheless, the trade appeared cyclical as the cryptocurrency fell lower this Friday on signs of firmer yields and a rebounding dollar.
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From last week’s highs, Bitcoin sustained a heavy correction into Saturday. The cryptocurrency fell from $16,000 to a low of $14,300, marking the first large correction of the recent uptrend. The cryptocurrency has since bounced back as the markets have turned risk-on once again on news of a seeming Biden presidency. While the Nasdaq futures […]
Here's a look at what we are focusing on in the bitcoin price this morning. In yesterday’s analysis, we noted that the run we have seen in the bitcoin price over the last week or so would likely see some degree of correction near term. That it continued through New Year is unusual in itself – we normally see an end of year correction in the more traditional financial assets as investors take profits off the table before the new year sets in. Bitcoin, it seems, is a little delayed in these traditional asset patterns, and it’s correction has taken few days longer than we might have expected.....
A downside correction in the Bitcoin market at the beginning of this week may prepare a fresh run-up towards $30,000, says Teddy Cleps.
Bitcoin faced an extremely steep correction on Sunday and Monday after last week’s surge to new all-time highs. The cryptocurrency fell as low as $30,000 after peaking at $42,000 last week. A large portion of Bitcoin’s drop was apparently a byproduct of Coinbase’s downtime, Willy Woo says. Monday’s Bitcoin Correction Bitcoin faced an extremely steep correction on Sunday and Monday after last week’s surge to new all-time highs. On Monday morning, the cryptocurrency plunged as […]
Ethereum price started a correction after a monster decline. Can the price consolidate before gaining further or is this an indecision? Ethereum price declined heavily this past week and traded below the $7.0 level against the US Dollar. Sellers were completely in control and succeeded in taking ETH/USD down during this past week. However, the downside was stalled near $7.00, and the bulls managed to push the price back up. There was a bearish trend line formed on the 4-hours chart of Ethereum price (data feed via Kraken), which was broken to set the pace for a correction. After a break,....