Capitulation? Bitcoin’s Price Dropped 36% in November

  Bitcoin (BTC) tanked in November on the back of high volumes, raising the possibility that the market has, to some extent, capitulated. The largest cryptocurrency by market capitalization is currently trading at $4,000 – down 36 percent from its monthly opening price of $6,318 – according to CoinMarketCap data. That drop marks the biggest monthly loss of the year so far. Amid the losses, trading volumes jumped by 33 percent month-on-month to $158.48 billion – the highest level since May. It is worth noting that, at the start of…

Bitcoin’s Double-Digit Drop Negates Long-Term Bull Market

Bitcoin’s (BTC) double-digit drop has torn down the scaffolding of what had seemed to be a developing long-term bull market just days ago. That said, a bearish reversal is still not confirmed either, technical studies indicate. At press time, the leading cryptocurrency is changing hands at $6,422 on Bitfinex – down 13 percent from the previous day’s high of $7,404. Notably, BTC has erased all the gains made over the last two weeks in a single day. Further, the sharp drop has poured cold water over the optimism generated by…

Bitcoin’s Price Builds Bottom As Upward Pressure Grows

The probability of a bullish move in bitcoin (BTC) has gone up in the last 24 hours. To start with, the leading cryptocurrency has remained well above the key support of $6,230 (Aug. 20 low) despite the ETF rejection, adding credence to our assessment that the cryptomarkets had already priced in the bad news. Further, the decision by the US Securities and Exchange Commission (SEC) to review the rejection of the nine bitcoin-based exchange-traded funds (ETF) could demoralize the bears and trigger an unwinding of the short positions. It is worth…

Rally Ahead? Bitcoin’s Price May Be Charting a Previous Bull Pattern

History often has a way of repeating itself. The current price pattern in the bitcoin market is eerily similar to the one observed in the run-up to a major rally that occurred on April 12. To start with, bitcoin charted a long-tailed candle on Aug. 14, similar to the one seen on Apr. 1, signaling the sell-off from the July 24 high of $8,507 has likely run its course. Further, the leading cryptocurrency has spent the last seven days trading in a sideways manner around $6,400. Back in April, the cryptocurrency traded…

Bitcoin’s Price Falls Below $6K to Near 2018 Low

The price of bitcoin fell below $6,000 on Tuesday, a move that brought the world’s largest cryptocurrency within 2 percent of its 2018 low.  At press time, bitcoin is trading hands at $5,922, printing a 5 percent 24-hour depreciation, according to the CoinDesk Bitcoin Price Index, up slightly from a low of $5,785 set June 24. Bitcoin is not alone in the sinking ship, however, as the broader market continues to suffer. At press time, the total market capitalization of all cryptocurrencies is below $200 billion, its lowest figure yet seen…

Today’s Close Could be Pivotal for Bitcoin’s Price

Bitcoin’s (BTC) close today will likely decide the short-term trend in prices. The leading cryptocurrency snapped a three-day losing streak on Thursday as the 26 percent sell-off witnessed in the last three weeks was looking overstretched. What’s more important is that BTC traded yesterday within the high and low range of the previous day, indicating the bears have likely run out of steam and the bulls are still reluctant to enter the market at these levels. It seems safe to say that the bitcoin market has become indecisive in the…

Bitcoin’s Mining Business Is Growing: CoinDesk Research Director Nolan Bauerle | CNBC

Nolan Bauerle, CoinDesk research director, provides insight to the future of bitcoin mining. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Google+: http://cnb.cx/PlusCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC Bitcoin’s Mining Business Is Growing:…

Jim Cramer: Bitcoin’s Surge Has ‘Very Little To Do With Investing’ | CNBC

The “Squawk on the Street” crew weighs in on bitcoin’s enormous surge as the digital currency tops $15,000. This is one of the least functional markets I’ve ever seen, says Cramer. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter:…