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So far Support Team has created 166 blog entries.

April 2020

Bitcoin Has Gained $600 for 3 Consecutive Mondays — Price Hits $7,400

2020-04-07T07:23:00+00:00 April 7th, 2020|Crypto News|

Bitcoin (BTC) bulls showed up early Monday morning and took full control of Bitcoin price by sending the price through the $6,900-$7,200 resistance zone to a nearly 4-week high of $7,454. The surge to $7,454 occurred as the United States’ markets opened strong, leading the S&P 500 and Dow to rally 7.03% and 7.73%, respectively. It seems investors are beginning to gain some confidence as the [...]

Bitcoin Price Will Go Up as Only Profitable Miners Remain: Data Analyst

2020-04-07T02:45:00+00:00 April 7th, 2020|Crypto News|

Approximately 4-weeks ago global equities markets were in distress as investors finally realized that the coronavirus was not just an illness restricted to China, but rather a global pandemic which could permanently damage economics across the globe. Crypto markets were not shielded from the mayhem that led the S&P 500 and Dow to post some of the biggest losses since the 2008 global financial crisis and [...]

Bitcoin Price Rallies Higher but Must Hit $8K to Start a Bull Market

2020-04-06T22:25:00+00:00 April 6th, 2020|Crypto News|

Bitcoin (BTC) closed the week up 15.4% at $6,775 and has started the day with a further 6% move to the upside, breaching the $7,000 handle and making highs at $7,300. Looking at performance relative to its peers, Ether (ETH) and EOS have posted an impressive 16% gain over the last 24 hours. As a result, Bitcoin dominance is down 1.5% at 65%.Crypto market daily price [...]

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Bitcoin Flips Bullish — But Here’s Why BTC Price May Still Hit $3.9K

2020-04-05T11:21:00+00:00 April 5th, 2020|Crypto News|

Bitcoin (BTC) price has gained more than 10% in the last week, giving bulls some hope that the road ahead is a bright one for the leading digital asset.However, despite an effort to blast through the critical resistance level of $7,200 as mentioned in last week’s analysis, there was a huge rejection bringing home the reality that perhaps it may be a little too soon [...]

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Bitcoin Price Now in a ‘Key Spot’ to Conquer $6.9K Before Weekly Close

2020-04-05T06:51:00+00:00 April 5th, 2020|Crypto News|

As the weekend began Bitcoin (BTC) price traded in a relatively tight range after making a second attempt at $7,000 on April 4. The digital asset surged to $6,988 before pulling back to the $6,800 range for the remainder of the day. As Bitcoin spent Saturday trading sideways, the majority of the top-ten altcoins posted marginal gains. Ether (ETH) gained 1.57%, Litecoin (LTC) added 1.02%, and [...]

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Retail Bought $3.7K Bitcoin Price Dip on Record $76B Volume: Report

2020-04-04T21:50:00+00:00 April 4th, 2020|Crypto News|

Although the Coronavirus pandemic has led many brick and mortar industries to close operations, cryptocurrency exchanges seem to have had their best month in a long time. According to an exchange report released by CryptoCompare, Bitcoin (BTC) trading volume saw record-breaking numbers throughout the month.Cryptocurrency market daily view. Source: Coin360The March 13 market crash that brought the Bitcoin price from $8,000 to a low of $3,800 in [...]

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Bitcoin Price Struggling to Break $7K — Here’s the Worst-Case Scenario

2020-04-04T14:00:00+00:00 April 4th, 2020|Crypto News|

The price of Bitcoin (BTC) has seen a relatively stable week, as BTC/USD has been hovering between $6,000 and $7,300.However, due to the low volatility, the volume also diminished, which is a sign of a big move in the works. What can be expected of the markets while the coronavirus pandemic is taking a toll on the global economy?Crypto market daily performance. Source: Coin360Bitcoin hovering [...]

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Bitcoin Price Holds $6.8K Defying Predictions of Testing New Lows

2020-04-03T07:20:00+00:00 April 3rd, 2020|Crypto News|

On Thursday, April 2, Bitcoin (BTC) price continued the rally it started in the late evening on Wednesday. As reported earlier by Cointelegraph, Bitcoin price briefly consolidated around $6,650 before breaking out to tackle the $6,900 resistance and as predicted in a previous analysis, the price quickly rose to $7,200 before pulling back sharply. Crypto market daily price chart. Source: Coin360Analysts are calling for a retest of [...]

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Bitcoin Price Soars 15% to $7.2K But Breaking $8K Won’t Be Easy

2020-04-02T17:40:00+00:00 April 2nd, 2020|Crypto News|

Bitcoin (BTC) is trading at $7,106 representing an impressive 14.7% gain in the last 24 hours and 6.8% for today. Other global markets are also up off the back of President Trump’s comments around the likelihood that crude oil production will be cut back, which is one of the triggers which caused Bitcoin to slide from $9K to $8K in early March.Looking at performance relative [...]

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Decoupling? Bitcoin Price Surges Above $6.7K as Stocks Again Bearish

2020-04-02T05:54:00+00:00 April 2nd, 2020|Crypto News|

Since topping out at $6,500 on March 31, Bitcoin (BTC) price had spent the majority of Wednesday in a steady slump which saw the price drop from $6,494 to $6,147. The pullback mirrored the poor performance in traditional markets where the S&P 500 and Dow dropped by 4.41% and 4.44% respectively. The slump in traditional markets appeared to be a reaction to dismal news that the [...]

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How to Trade Bitcoin Using Leverage and Not Worry About Liquidation

2020-04-01T06:40:00+00:00 April 1st, 2020|Crypto News|

Institutional traders have long known the benefits of derivatives trading, including leverage and hedging. By trading options markets, one can predetermine maximum gains and losses, even with volatile assets like Bitcoin (BTC). Despite being far more complex, such instruments allow traders to generate gains independent of what happens over the next weeks or even months, which is essential for traders’ peace of mind to achieve optimal [...]

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March 2020

Capitulation? BTC Battered by Biggest Mining Difficulty Drop Since 2011

2020-03-30T20:41:00+00:00 March 30th, 2020|Crypto News|

Bitcoin (BTC) currently sits at $6,370, a slight recovery from the March 27 pullback which saw the price drop nearly 9% in 4 hours. Despite showing some bullish signs, Bitcoin is still down nearly 30% since last Friday.As previously reported by Cointelegraph, the crash may have been caused by the recent mining difficulty adjustment of nearly -16%. The difficulty adjustment is how the Bitcoin network [...]

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Bitcoin Price Pumps $600 to CME Gap, But $6.6K May Be End for Bulls

2020-03-30T14:03:00+00:00 March 30th, 2020|Crypto News|

The price of Bitcoin (BTC) retraced to $5,800 during the weekend, which left the markets with an open CME gap between $5,900 and $6,620. Aside from that, buyers have stepped in at the $5,850 level, leading to a $600 rise in the price on Monday. However, is the correction over or is the market range-bound?Crypto market daily performance. Source: Coin360Bitcoin finds support at the $5,850 [...]

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Bitcoin Rallied 80% Without Any Gov’t Bailout: Time to Get Bullish?

2020-03-29T13:26:00+00:00 March 29th, 2020|Crypto News|

The Bitcoin (BTC) price remained relatively sideways last week and not once did it test resistance or support of the descending channel identified in last week's analysis. As such, today I’m looking at a new bullish case for Bitcoin that could see the leading digital asset see incredible growth if $7,200 resistance is broken as far as the technicals are concerned. However, last week proved a massive [...]

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Bitcoins on the Move — Is BTC Price Inversely Correlated to Mempool Size?

2020-03-29T01:18:00+00:00 March 29th, 2020|Crypto News|

After making a strong recovery from $3,775 to $6,450, Bitcoin’s (BTC) price has traded in a tight range which has seen the price struggle to push above resistance at $6,400 and $6,850. Despite the current pullback, technical indicators like the Stock-to-Flow model and the network’s consistent growth in hash rate show that investors have regained a small amount of confidence.Another factor worth considering is Bitcoin’s [...]

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Bitcoin Price Rejects $6.9K, But Is a Correction Now Imminent?

2020-03-28T13:50:00+00:00 March 28th, 2020|Crypto News|

The price of Bitcoin (BTC) has shown a strong surge in the past weeks, as the price rallied from $3,750 to $6,900. However, the crucial $6,900 level wasn’t broken to the upside and confirmed as resistance. A similar move occurred on the equity markets, as the United States’ equity markets surged 25% in one week, but saw a sharp selloff of 4% in the last [...]

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Monero (XMR) Quietly Gains 99.5% as Bitcoin Price Consolidates

2020-03-27T05:59:00+00:00 March 27th, 2020|Crypto News|

Since dropping to $24.05 during the strong marketwide correction that occurred on March 12, Monero (XMR) has rallied 99.5% and currently trades at $49. The recent recovery occurred on consistently strong purchasing volume and the altcoin has spent the last 10 days trading in an ascending channel. XMR USDT 4-hour chart. Source: TradingViewAt the time of writing the XMR/USDT pair has pulled back slightly after touching the [...]

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Is Bitcoin a Safe Haven? 80% BTC Price Recovery Boosts Investor Appeal

2020-03-26T21:40:00+00:00 March 26th, 2020|Crypto News|

This week, as a $2 trillion economic stimulus package was put forth by U.S. lawmakers, the performance of major market indexes improved and the Dow registered its best day since 1933, gaining 11% after the major pullback of the last few weeks. In the meantime, gold increased slightly over 5%. The recent market fall-out gave rise to Bitcoin (BTC) critics such as Peter Schiff claiming that “only fools [...]

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XRP Price Set for Big 40% Drop as Bitcoin’s Dominance Climbs Higher

2020-03-26T12:25:00+00:00 March 26th, 2020|Crypto News|

Bitcoin (BTC) has been showing strength recently, as the price surged from $3,750 to $6,650 in a matter of one week. Not only have Bitcoin and crypto been showing strength, but a similar move is also seen in the equity and commodity markets. The United States’ equity markets have seen a relief bounce of 23%, while gold and silver showed a bounce of 13% and 25% [...]

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Rising Wedge Breakdown Threatens $7K Bitcoin Price Target

2020-03-26T06:26:00+00:00 March 26th, 2020|Crypto News|

On Wednesday Bitcoin (BTC) price surged higher alongside traditional markets which were likely propelled by the Senate’s approval of the $2 trillion economic stimulus bill aimed at providing relief to businesses and workers impacted by the coronavirus pandemic. The price rejected at $6,959, just a stretch away from $7,000 before pulling back to $6,491. Crypto market daily performance. Source: Coin360Looking at the shorter time frame, one [...]

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Telecommunications Tokens Are Surging Just Like Stocks

2020-03-26T02:00:00+00:00 March 26th, 2020|Crypto News|

Communication-related tokens have surged over 18 percent in the last week, following in the footsteps of Zoom and other telecommunications stocks.Increase in the remote workforceDuring tumultuous times, investors are eager to find assets that can provide shelter or a hedge from volatility. For many decades, this usually meant either gold or gold mining company stocks, since they tended to have a negative correlation with the [...]

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Bitcoin Price Facing New ‘Death Cross’ Suggests No $10K BTC Before May

2020-03-25T17:41:00+00:00 March 25th, 2020|Crypto News|

Bitcoin (BTC) is trading at $6,670 representing a 1% gain in the last 24 hours but a gain of 14.66% off the weekly open at $5,815. Looking at performance relative to its peers, Ether (ETH) and XRP both underperformed versus Bitcoin last week against the U.S. dollar and have continued to do so. As a result, Bitcoin dominance is up 1.5% and pushing to reclaim 68% [...]

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Crypto Exchanges Made a Killing During the Ides of March

2020-03-23T18:07:00+00:00 March 23rd, 2020|Crypto News|

While March 2020 has been one of the most volatile and unprofitable months for Bitcoin holders, exchanges have benefited greatly from this uncertainty.March 12 selloff spike in volumeThe main source of revenue for crypto exchanges comes from trading fees, so on the days with heavy volume, they see an increase in their revenues.March 12, the day that Bitcoin lost 37% of its value, there was [...]

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‘Unlimited QE’ Pumps Bitcoin but BTC Price Remains Bearish Below $6.8K

2020-03-23T13:59:00+00:00 March 23rd, 2020|Crypto News|

The United States Federal Reserve announced a barrage of programs aimed to help the markets, with no limit. That means unlimited QE. Not only the crypto markets are showing a bounce, but other markets are also experiencing the same.Equity markets in the United States hit their limit down of 5% in the futures markets earlier today, but are up 8% since the low. What can [...]

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Bitcoin Price Holds Key $5.9K Support, Avoiding a Retest of Recent Lows

2020-03-23T01:32:00+00:00 March 23rd, 2020|Crypto News|

As the Coronavirus pandemic continues to unfold, markets, both traditional and crypto, remain highly unpredictable. Even gold has failed to provide safety for investors and Bitcoin (BTC) is undergoing a demanding test as a new asset class in an unprecedented health and financial crisis.Crypto market daily performance. Source: Coin360As traditional markets gear up for another week of turbulent trading, volatility is expected to return to [...]

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