The price of Bitcoin, the top-ranked cryptocurrency by market capitalization, has seen a spike towards $10,500 before the halving took place on May 11.
The price of Bitcoin has been having problems since the halving and is currently showing more signs of weakness.
Bitcoin price is hovering inside a wide range as volatility drops.
The price of Bitcoin is stuck inside a wide range as the next chart shows.
As the halving hype is slowly fading and the market goes back to its daily rhythm, the price of Bitcoin is also stabilizing.
The price of Bitcoin moved significantly in the run-up to the event, then a pre-halving crash occurred and a new range was established.
Throughout the month, the price of Bitcoin consolidated inside a range.
As the 4-hour chart is showing, the price of Bitcoin lost the rising wedge structure and broke down.
The total market cap is again holding the $220-225 billion level as support while the price of Bitcoin is now 50% higher.
Once the price of Bitcoin isn't able to break through the $9,300 barrier, retests of the lows should be expected.
Bitcoin Price Ping Pong Within Tighter Range Hinting at $8.5K Next
gepubliceerd op May 23, 2020
by Cointele | gepubliceerd op Coinage
Vermeld in dit artikel
Why crypto: holding money at Citibank costs hundreds of euros a month
Many of the proposed use cases have not come to fruition yet, but recent macroeconomic developments have made crypto's ability to act as a hedge against central bank activity more clear than ever before.
Swiss Regulators Green Light Crypto Transactions for Local Bank
InCore bank becomes the first Swiss business-to-business bank approved by the financial watchdog to operate with digital assets.
Crypto and Fiat Currencies Are Worlds Apart, Here Are the Reasons Why
Bitcoin's third halving on May 11, a 50% reduction in the BTC block subsidy that rewards miners for validating transactions and securing the network, represents a clear distinction between fiat monetary systems governed by whim and crypto monetary systems executed through software.
"Structural" shift in crypto options shows there's an influx of long-term Ethereum bulls
Over the past few months and years, financial derivatives like options and futures have become increasingly important to crypto.