Bitcoin’s Share of Total Crypto Market Slips Back Toward 50%

Bitcoin’s dominance rate, or its share of the total cryptocurrency market, is on the verge of falling below 50 percent for the first time in over seven months. At press time, the world’s largest cryptocurrency accounts for 50.9 percent of the total capitalization of the entire market and fell as low as 50.54 on March 17, according to data from CoinMarketCap. Before 2017, bitcoin’s dominance rate was perpetually in excess of 70 percent, but it began to deflate as new cryptocurrencies were created and sold to investors in initial coin…

An Old Resistance Hurdle Is Back and Could Stall Bitcoin’s Price Rally

View Bitcoin clocked highs above $4,000 over the weekend and closed last week on a positive note, strengthening the short-term bullish outlook. The ongoing recovery rally, however, could pause around $4,000 or fall back to key support levels lined up at $3,775 and $3,658, as the bearish (downward sloping) 21-week simple moving average (SMA) is currently lined up at $4,073. That SMA served as a stiff resistance last year. Bitcoin’s outlook as per the daily chart would turn bearish if prices see a UTC close below the Feb. 27 low of…

Bitcoin’s Price and Network Activity: One is Outpacing the Other

Bitcoin’s user growth, as represented by active addresses, has spiked in the last eight weeks leaving the price far behind, a move that contradicts the popular belief the two tend to move in tandem. The 30 day average of active addresses on bitcoin’s blockchain, or the number of accounts that made cryptocurrency transactions at any point during the last 24 hours, total 664,064 as of March 16– up 17 percent from 569,812 seen on Jan. 20. Bitcoin’s 30 day average price, however, has increased just 1 percent during the same time…

Bitcoin’s Impending ‘Halving’ Could Spark Meteoric Price Boom

Alistair Milne, the chief investment officer at Atlanta Digital Currency Fund, has said that the block reward halving of Bitcoin could push the price of the dominant cryptocurrency to massive gains in the next 12 months. Why Block Reward Halving is a Fundamental Driver of Bitcoin Price The Bitcoin price should receive a major boost from the halving next year. | Source: Yahoo Finance A block reward halving in Bitcoin is referred to as the mechanism that decreases the amount of Bitcoin generated by miners after mining a block. On…

Three Price Resistance Levels to Beat for Bitcoin’s Bulls

View Bitcoin’s bull revival, as signaled by the weekly chart indicators, is still in the nascent stage and will likely become more entrenched if and when prices clear the resistance levels at $4,190, $4,236 and $4,388. A high volume break above the three resistance levels could be followed by a rally to highs above $5,000. Bitcoin could challenge resistance at $4,190 in the next few days, as a strong bounce from the ascending 5-week moving average (MA) seen earlier this week has restored the short-term bullish view signaled by a…

Bitcoin’s MACD Prints Strongest Bull Signal In Over a Year

The moving average convergence divergence (MACD) has become the latest charting indicator to signal bitcoin may soon see a trend reversal that could put an end to its months-long price decline. As reported, the money flow index (MFI), an indicator used to identify buy and sell pressure, created a divergence Sunday widely considered to be an early sign of a bearish-to-bullish trend change, while last week, bitcoin saw a bearish crossover of its 50- and 100-week moving averages, a first since 2015. As such, the MACD became the latest in…

US Government Returns Bitcoins Retrieved Following 2016 Bitfinex Hack

Bitfinex has announced that some of the bitcoin stolen in a major 2016 hack has been returned by the U.S. government. In a blog post published Monday, the exchange said that 27.66270285 BTC – worth just over $104,000 at time of writing – have been received from the U.S. government, and come as the result of U.S. law enforcement efforts. Bitfinex said that, since the hack, it has been collaborating with international law enforcement agencies “to provide intelligence and assist with investigations,” adding: “Bitfinex was alerted in November 2018 that the…

Bitcoin’s Bull Trend At Risk After High-Volume Price Dump

View Bitcoin dropped 9.3 percent yesterday on the back of high volumes, invalidating the triangle breakout witnessed last Monday. A UTC close below $3,714 today would validate Sunday’s bearish outside reversal candle and open the doors to levels below $3,400. The longer duration charts are signaling bearish exhaustion, however, and any drop to $3,400 or below could be short-lived. A move above $4,190 (previous day’s low) is needed to revive the bullish outlook. Bitcoin (BTC) nosedived overnight, clouding the interim bullish outlook, and a deeper drop could unfold if key support…

Back Above $4k: Bitcoin’s Price Jumps to a Two-Month High

Bitcoin’s price climbed back above $4,000 on Saturday for the first time over over two months as the broader cryptocurrency market flashed green. At 18:00 UTC on Saturday, the world’s largest cryptocurrency by market capitalization surpassed the $4,000 mark to ultimately reach $4,146 – its highest price since Dec. 24 of last year, according to pricing data from CoinDesk.  Bitcoin’s price has since pulled back slightly, now trading at $4,104, but current figures still represent a considerable 20 percent increase since the beginning of the month. Bitcoin is usually accompanied by the broader cryptocurrency market…

Op Ed: How Bitcoin’s Protocol of Peace Can End the Nuclear Age

Since it came to life in early 2009, Bitcoin has begun disrupting the world of finance. Over the years, this decentralized digital currency came to mean different things for different people. For some, it presented opportunities for prosperity, becoming the best performing asset in their portfolio. For others, this peer-to-peer cash for the internet represents a non-confiscatable digital gold that could enable financial sovereignty. For those who are concerned about civil liberty, Bitcoin’s censorship resistance and permissionlessness define it as free speech money. “Yellow Vest” protesters occupying in the streets…