Bitcoin drops below 'critical' level for avoiding a return to $31K — gold ris...
The latest bearish streak sees $32,600 come and go, with selling pressure in evidence as BTC/USD sheds another 2.7%. Bitcoin (BTC) fell to support which could determine a $30,000 retest on July 13 as bulls failed to make their case for fresh gains.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin bulls see $33,000 slip awayData from Cointelegraph Markets Pro and TradingView showed another lackluster performance for BTC/USD on Tuesday, with local lows at $32,240 on Bitstamp.Ranging above $33,000, viewed as the support level to hold as a springboard for bullish continuation,....
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A few central banks have started selling tons of gold for the first time since 2010 in order to ease the financial suffering from the Covid-19 pandemic. At $1,875 per ounce, gold prices are down -9.63% since the commodity’s high of $2,075 on August 6. Even though gold has dropped significantly in value in contrast to bitcoin (BTC), gold bug Peter Schiff decided to use the opportunity to rag on bitcoin on Twitter. “If you measure the size of asset bubbles based on the level of conviction buyers have in their trade, the Bitcoin bubble is the biggest I’ve seen,” Schiff....
Gold has been a medium of exchange for thousands years with an indisputable store of value, which, however, yields no return and has a high opportunity cost compared to assets such as bonds or equities. On the other hand, the Internet Age has brought about a fierce competitor, known as bitcoin. Since its launch in 2009, the digital currency has been in the middle of attention, whether because its value declined close to the $240 level, after having surpassed the $1,000 milestone in 2013, or because regulatory agencies are trying to figure out whether a sustainable regulatory environment....
Is Bitcoin susceptible to the Cantillon effect? To find an answer, please read this Bitcoin-Cantillon effect article. How to protect yourself from the Cantillon effect?The simplest method to safeguard yourself against the unequal distribution of new money is to leave the monetary system completely. Only the oldest living generations can recall a time when money was more than a piece of paper backed by the government's and military's "full faith and credit." We are conditioned to conceive of money as a product of our government, yet avoiding the Cantillon effect necessitates looking at....
Ethereum has been struggling to garner any technical strength in the time following its dip below $380 This is a critical level that has determined its trends in the past, and the break below it is quite bearish Where the entire market trends next will likely depend on Bitcoin, but any near-term BTC downside could force ETH below a critical support level It is currently trading just a hair above this level, and one analyst […]
Since Bitcoin is often equated to and dubbed as “digital gold,” would famous Austrian school economic theorist Ludwig von Mises choose Bitcoin over the world’s favorite precious metal if he were alive today? In a 1951 book titled “The Free Market and Its Enemies,” theoretical Austrian School economist, Ludwig von Mises, argues against the dangers of fiat....