Sputnik: Can we expect the rise to continue? Overall, the premier cryptocurrency jumped to 6,661.76 at 13:00 UTC,.37 percent increase from the days low of 6,262.28, and was last seen trading at 6,613, according to the CoinDesk Bitcoin Price Index (BPI). Bitcoin bounced from its 100-day moving average @NaeemAslam23, Bloomberg, disclaimer: I hold Bitcoin and a few other altcoins. The broader market followed suit, as it usually does when bitcoin (BTC) flexes its muscles. Daily volume has risen fairly significantly to just above 8 Billion. But, i do believe anyone who says that he knows the exact reason for the massive fall would be fooling themselves. Regulators decided it is time to flex their muscles. If the daily candle can close above this level, itll be a very healthy sign of strength. Now, why should I trust my money to Bitcoin, when there are lots best bitcoin wallet ethereum of other financial tools like credit cards and bank transfer which are relatively risk free and quite cheap? Countries, like Japan, which are favoring this market would benefit far more, and it doesnt necessarily mean that the market would die altogether at least not yet.
Bitcoin : Dead, cat, bounce, or Bottom In Place?
View: The high volume bull flag breakout seen in the hourly chart has likely put bitcoin on the path to 7,000, proving Fridays bitcoin dead cat bounce rally to be the beginning of something more substantial than initially thought. Bitcoin always fashions itself as being outside government regulation. There's none of that with Bitcoin. We see it even in some international pricing of goods and services, that a big player will sometimes manipulate the market to their own benefit. PJ Radcliffe of School of Electrical and Computer engineering at rmit about the rise.
So, if a share price suddenly drops for no good reason, a government body will say to the company, 'hey what's happening here and perhaps expand the share trade. Several years ago it spiked and then dropped back quite a way. Bitcoin is building on Fridays sharp recovery from lows below 5,800, indicating the corrective rally has more substance than what many presumed to be another dead cat bounce. Bitcoin dropped to an important level @NaeemAslam23, Bloomberg, the advent of Bitcoin futures contracts late last year fueled investors optimism. Looking at the daily chart, we can see price has broken above the 21 day EMA. The other one you've got to consider is market manipulation.
Bitcoin, price, dead, cat, bounce : Dont get fooled - Coinnounce
So, the gains look sustainable. PJ Radcliffe: It's always very tricky to tell exactly what caused these rises. Currently, the total value of all cryptocurrencies stands at 270 billion, having jumped 14 billion in the in the morning hours, according to CoinMarketCap. This is a market of speculators who are looking to become wealthy. Bitcoin price image via Shutterstock. That may have caused. Looking ahead, the broader market may remain solidly bid as the worlds largest cryptocurrency by market capitalization looks set to test the 7,000 mark, courtesy of a bullish continuation price pattern, as seen in the charts below. Bitcoins recent fall is a film weve seen before, with previous crashes in 20Bitcoin is known for its volatility: when it goes up, it makes your eyes pop, and when it drops, it makes your jaw drop. When things start to fall there's a point when people start to think that everything is going to be OK again, and the price goes back. Until next time, wishing you safe and profitable trading! You'll notice bitcoin dead cat bounce the drop was pretty much in the days just coming up to Christmas, when people were busy with other things.
Bitcoin : 'The, dead, cat, bounce ' - PJ Radcliffe - Sputnik International
Hourly chart, having faced rejection at flag resistance in Asian hours, the cryptocurrency was expected to revisit flag support. Your Remaining Votes (within 24hrs) : 10 of 10 ( 18 votes, average:.83 out of 5 you need to be a registered member to rate this. Acceptance below 6,275 (weekly low) would abort the short-term bullish view. Bitcoin plunged below 10,000 yesterday, tumbling all the way to 9,186, pushing the monthly rout beyond. But there's always the 'dead cat bounce in all kinds of speculative activities.