Bullish Case For Bitcoin: Profit Taking Turns Into Buying The Blood

Bitcoin price recently saw a $2,000 correction after months straight of surging. At the start of the selloff, signs pointed to profit-taking as the primary reason for the pullback. However, after greed turned to fear, big-money investors have begun buying the blood right out from under investors who are panic-selling the cryptocurrency at a loss. Here’s why this is incredibly bullish for Bitcoin and what this could mean for a new uptrend taking hold. Bitcoin Whales Buy The Blood As Small Time Investors Panic Sell At a Loss The crypto…

Why Jim Cramer will invest 1% of net worth in Bitcoin

Recently, Jim Cramer, the host of CNBC’s Mad Money, says he might invest 1% of his net worth in Bitcoin (BTC). The famed investor drew comparisons between BTC and gold and cited the importance of hedging against inflation. During a podcast with Anthony Pompliano, Cramer said he would “take a shot at that with 1%.” Since the lead up to Bitcoin’s 2017 bull run, CNBC, Bloomberg and institutional analysts have been extremely critical of the digital asset. Most claimed that cryptocurrencies were ponzi schemes, scams, or unsustainable, but this narrative…

Tassat will be able to launch Bitcoin swaps after all, says CFTC

The United States Commodity Futures Trading Commission will still be allowing New York-based fintech firm Tassat to proceed with its Bitcoin swap contracts after failing to meet regulatory requirements. According to a Sept. 15 statement from the CFTC’s Division of Market Oversight (DMO), the regulatory body will not stop Tassat from launching a swap execution facility (SEF) in Q4 2020, even after the firm failed to renew its registration following 12 consecutive months without trading. “DMO will not recommend the CFTC commence an enforcement action against Tassat for failing to…

Did Bitcoin Just Confirm It’s Largest Reversal Pattern In History?

All eyes are on Bitcoin and more specifically if the cryptocurrency is able to hold above both the “meme” downtrend line and the critical level of $10,000. The asset thus far has held strong, confirming both former resistance levels as support. But at the same time, the leading cryptocurrency by market cap may have also confirmed the largest reversal pattern in its entire history. Has The Cryptocurrency Just Confirmed Its Largest Reversal Chart Pattern Ever? When Bitcoin slammed headfirst into $20,000 and immediately fell over $8,000 to $12,000 days later,…

Bitcoin Could Soon See Explosive Momentum if It Shatters One Key Level

Bitcoin’s bulls are flexing their strength today, pushing the benchmark digital asset towards $11,000 as they attempt to reverse the recent downtrend that it has been caught within. There’s no doubt that today’s move – coupled with that seen yesterday – is positive for the crypto’s near-term outlook, but it is important to keep in mind that BTC has yet to break above its key $11,000 resistance. This price region was previously strong support, and a failure for it to be decisively reclaimed could prove to be dire for the…

Bitcoin price charts hint $11K will likely cause trouble for BTC bulls

While Bitcoin (BTC) has been showing weakness in recent weeks as BTC price dropped from $12,000 to $10,000, some light at the end of the tunnel is showing up. The price of Bitcoin showed support at the psychological barrier of $10,000 and bounced numerous times as it’s already close to $11,000. Most importantly, can Bitcoin break through this crucial area and continue its bullish momentum? Bitcoin holds $10,000 to avoid any further correction on the markets The price of Bitcoin couldn’t hold above $11,100 at the beginning of September and…

Futures traders are short Bitcoin — 3 reasons it won’t stop the rally

Since Sep. 5, many trades in the Bitcoin (BTC) futures market have been seemingly net short. As the majority of placed bets against BTC, the funding rate of BTC futures contracts turned negative. But in the last 30 hours, the price of Bitcoin increased from $10,211 to as high as $10,878 on Coinbase. The large amounts of shorts in the market are fueling the recovery of BTC for three reasons. The three factors are low funding rates, the likelihood of a short squeeze, and the implications of defending the $10,000…

Bitcoin Surges Towards $10,800 as Recovery Continues: Here’s What Comes Next

Bitcoin is surging higher as legacy markets rally. The leading cryptocurrency is up around 5% in the past 24 hours, outpacing many altcoins, with focus re-centering on BTC. The cryptocurrency seems to be benefiting from a drop in the value of the U.S. dollar. This has historically sent both gold and Bitcoin, along with the stock market, higher. Related Reading: This European Crypto Exchange Was Just Hacked for $5 Million There do seem to be some technical reasonings behind Bitcoin’s ongoing rally too, though. Namely, the cryptocurrency managed to close its…

Don’t expect another Bitcoin price ‘catastrophic dump’ — Analyst

Bitcoin (BTC) price trajectory is looking to favor bulls going forward, statistician Willy Woo believes as the market nears $11,000. In a series of tweets on Sept. 14, Woo highlighted strength in market composition and said that current price levels could be a useful entry point for investors. Woo: Little chance of “catastrophic” BTC price dump “Another impulse of coins changing hands has completed, the next directional move over the coming weeks is likely upwards,” he summarized. “It’s very unlikely we’ll see any kind of a catastrophic dump in price…

Bitcoin Cash Rallies 7%, More Upsides Likely If BCH Clears 100 SMA

Bitcoin cash price rallied over 6% and it broke the $230 and $235 resistance levels against the US Dollar. BCH is likely to continue higher towards $250 if it clears the 100 SMA (H4). Bitcoin cash price is gaining momentum above the $235 resistance level against the US Dollar. The price is currently facing hurdles near $240 and the 100 simple moving average (4-hours). There was a break above a key contracting triangle with resistance near $233 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The…