Bitcoin Performance

The performance of Bitcoin received a boost on June 1 as it incurred an upside momentum that led to a rally from $9.5k to a high of $10.4k, representing a $900 gain in a few hours. After such a move, analysts flipped bullish on the benchmark asset. Some market participants were expecting Bitcoin to slip following such a powerful breakout. Based on the expectations of a few traders, it slipped as it traded against the sentiment of the majority. It…

The price of Ethereum has dipped by almost 80 percent from its lifetime high of $1.4k. This is due to the ICO bubble collapse and the history of a shift from altcoins to Bitcoins. However, by comparison, Bitcoin has only declined by 50 percent from its lifetime high of almost $20k. Numerous cryptocurrency market participants believe that Bitcoin will keep outperforming altcoins while a renowned investor is throwing his weight behind Ethereum. It is clear that the performance of Bitcoin…

The price action of all cryptocurrencies within the previous few days has been dull but that of XRP has been particularly poor. Bitcoin moved from the highs established at $10.1k last week to $8,709 at press time while XRP has declined by 18 percent within the same time frame. XRP’s poor performance brings fear of deeper correction in the weeks ahead as a trader suggests the possibility of retesting the price area close to the lows established during the market…

The backdrop of current worldwide economic trouble is a concern when it comes to the performance of Bitcoin. However, up till this moment, Bitcoin has done well such that it posted year-to-date gains while the performance of equities market is still well beneath its level in the beginning of 2020. At the moment, there are two swiftly emerging events which may prompt both prevalent adoption and accumulation for Bitcoin. These two events have the potential to bolster the benchmark cryptocurrency…

The performance of BTC/USD currently is within a positive zone of over $7000. The pair’s price has good support on dips as long as it does not close under $6830. In the third week of December 2019, Bitcoin began a strong recovery wave in the support zone between $6400 and $6500. A look at the 4-hour chart of Bitcoin against the USD reveals that Bitcoin’s price broke some resistances close to the $ 7000 level and 100 SMA.  Additionally, there…