BitTorrent Token Is Already Nearly 6 Times Its ICO Price

  The price of BitTorrent Token (BTT) is closing in on six times the price of its initial coin offering (ICO), which occurred just one week ago. 59.8 billion BTT tokens were sold through Binance’s token sale platform on Jan. 28 at a price of $0.00012 per token, according to sale information provided by the exchange. Up nearly 40 percent today alone, BTT is now trading at a considerably higher price of $0.000798 – representing a 565 percent increase from its ICO price, Coinmarketcap data reveals. That sale sold out…

Bitcoin Price Watch: BTC Could Correct Lower Before Fresh Rally

Bitcoin price rallied towards the $3,750 level and later started a downside correction against the US Dollar. There is a key bearish trend line formed with resistance at $3,640 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to correct lower towards the $3,550 or $3,500 support levels before a fresh rally. Bitcoin price climbed higher and settled above the $3,500 resistance against the US Dollar. BTC is currently correcting lower, but dips remain supported above the 100 hourly SMA. Bitcoin Price Analysis…

Bitcoin Risks Return to December Lows After Price Drop to $3.5K

  After breaching key support on Sunday, emboldened bears could soon push bitcoin (BTC) prices back towards $3,100. Following a drop to a 3.5-week low of $3,476 at 16:00 UTC yesterday, the cryptocurrency closed at $3,516, effectively invalidating the bullish view put forward by the higher low of $3,566 carved out on Dec. 27. That move also added credence to the bearish reversal signaled by the 9 percent price drop witnessed last Thursday. Put simply, the bears have strengthened their control of the market, after the bulls failed to penetrate…

Bitcoin Eyes Test of Key Price Hurdle in First Since November

  Bitcoin (BTC) could test a key resistance line for the first time in nearly two months. The widely followed 50-day simple moving average (SMA) line is currently located at $3,940 – $100 above bitcoin’s current price of $3,840 – according to Bitstamp data. The crucial SMA line was last put to test on Nov. 8. Back then, the SMA was located at $6,450 and was serving as a stiff resistance. On Nov. 14, BTC nosedived below $6,000, putting the bears back into the driver’s seat.  As a result, the…

This Price Chart Indicates Bitcoin’s Bulls Are Back in Business

  Bitcoin (BTC) is looking increasingly bullish on a key technical chart following its strong move above $4,000. The leading cryptocurrency by market value first teased bullish reversal on Dec. 17 with the creation of an “outside reversal” candle on the widely followed 3-day chart. The early indicator of a bearish-to-bullish trend change, however, needed confirmation in the form of a positive follow-through. Alongside BTC’s $600 rally, the cryptocurrency closed above $4,000 yesterday confirming the bullish reversal on the 3-day chart. BTC, therefore, could rise to next major resistance of…

Bitcoin Price Defies Oversold Conditions to Hit 15-Month Low

  Bitcoin (BTC) tumbled to 15-month lows earlier today, dashing hopes of a rally signaled by current extreme oversold conditions. The world’s largest cryptocurrency by market capitalization fell to $3,200 on Bitstamp at 00:15 UTC – the lowest level since September 2017. BTC was trapped in a five-day-long narrowing price range 24 hours ago and showed signs that it might break upwards with a strong move toward the crucial resistance at $3,633. These bullish expectations were based largely on a premise that the sellers are facing exhaustion, as indicated by…

Bitcoin Price Watch: BTC Sellers Targets Fresh Weekly Lows

Key Points Bitcoin price failed to break the $3,475 and $3,485 resistance levels and declined against the US Dollar. There was a break below an ascending channel with support at $3,405 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price may continue to move down towards $3,255 or it could even decline to a new weekly low. Bitcoin price struggled to gain pace above $3,475 and retreated against the US Dollar. BTC remains at a risk of more declines below the $3,250 support level. Bitcoin…

Bitcoin Price Charts Indicate Glimmer of Hope

  Bitcoin’s (BTC) struggle to build a notable bounce could end if prices beat key resistance above $3,600. The leading cryptocurrency by market value fell to 15-month lows near $3,200 last week, pushing the 14-week relative strength index (RSI) below 30.00 for the first time since 2015. So, with bitcoin so extremely oversold, a recovery rally cannot be ruled out – more so because there is evidence of bargain hunters challenging the bears’ resolve to push prices lower. For instance, BTC posted a three-day candle on Dec. 8 that closed…

$3K Ahead? Bitcoin Price Bounce Is Again Losing Steam

  Bitcoin (BTC) still has the potential to drop towards $3,000, despite a minor bounce from 15-month lows seen on Friday. The leading cryptocurrency by market value picked up a bid at $3,210 three days ago –  a level last seen in September 2017. The ensuing corrective bounce, however, seems to have run out of steam, as bitcoin is currently trading at $3,470 on Bitstamp – down 4 percent from yesterday’s high of $3,633. It’s worth noting that prices are currently down more than 80 percent from the record high…

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…