For the past few days we’ve been championing the suggestion that the (then upcoming) interest rate decision out of the federal reserve could inject some volatility into the bitcoin price. Why? Because the response to any movement or lack thereof in the rate hike had the potential to shift investor sentiment from risk on assets such as equities to risk off assets such as gold and – hopefully – bitcoin. Janet Yellen reported the Federal Reserve’s decision during yesterday’s US session, and it came out unchanged. The US base rate will remain at zero until at least the end of next month, but far more likely until 2016. In response, the bitcoin price did exactly what we wanted. We broke through in term resistance and carved out fresh highs not seen…
Bitcoin continues to trade under pressure as bears make numerous attempts to break the floor of $220-225 on the eve of the expected U.S. Fed interest rate hike. Just as lowering the interest rates is considered equivalent to pumping money into the system, raising the interest rates is considered sucking out the money from the system. Therefore, if the U.S. Federal Reserve decides to call its first interest rate hike since 2009, it will lead to tightening of the US dollar flow in the system. The US dollar being one of the most preferred safe-havens is therefore expected to see a huge rush from market participants. This may put pressure on the BTC-USD pair. Bitcoin is currently trading at $228.89, down 0.7 percent or $1.6. Image:…
Bitcoin has had a very quiet start to this week after the bulls failed to protect their support level of $235 during the last Sunday. The cryptocurrency recently took support from the mentioned technical level and rebounded to $240 before the selling pressure humbled the buyers. Bitcoin is now trading at $230.49 and is being pressured to stay below the breached support which will now act as a resistance. Image: https://www.tradingview.com/x/WTGy12Ri/ The bears have reasserted their dominance. The upward biased price structure has been damaged and the technical indicators have turned bearish once again. But $220-225 being an extremely strong weekly support, will it be breached? Bitcoin Chart Structure – After violating the level of $235, Bitcoin skid to test the…
According to one of the Juniper Research’s reports, Bitcoin cryptocurrency ecosystem will have nearly 5 million active users by 2019; chiefs of some of the world’s leading finance organizations, including Nasdaq and Westpac, believe Bitcoin technology will be a major disruptor for the traditional banking sector; the first quarter of 2015 reported a 51% increase in investments made into the Bitcoin sector. Through a few examples quoted above, it becomes evident that Bitcoin, after all, is gaining traction into the mainstream business circles. From stock firms to a simple t-shirt seller, everybody is getting involved in this new disruptive payment technology. In this article, our focus, however, is one such industry that has made Bitcoin popular among international…
Staying on top of the bitcoin price over the last couple of weeks has been a tough task. While there have been some defined movements, they have primarily come during the Asian session, and often been short and pronounced. During the European session, conversely, we have seen pretty flat action – with the bitcoin price primarily ranging between tight parameters. With this said, we have still managed to get in and out of a number of trades, and so long as we continue to employ our intraday strategies will no doubt draw profit from the market. So, as we head into a fresh day’s European trading, what are the levels that we are keeping an eye on in the bitcoin price, and where will we look to get in and out of the market today? Take a quick look at the chart….
A very interesting trend that has emerged within the forex industry is the increasing popularity of Bitcoin among the brokers. If we look back at times when the digital currency was struggling to impress potential adapters, and compare it with its current progressions, we would definitely notice contradictions between both. Speaking specifically in terms of forex trading, Bitcoin adaption has truly rocketed. This article is intended to explain how a digital asset could possibly revolutionize the forex brokerage sector. What is Bitcoin? Bitcoin can be defined as an online digital asset that possess the quality of being a commodity, as well as a currency. It is because of its underlying functionary that allows people to store it as a form of investment (like Gold),…