Crypto Currencies World

Bitcoin is showing strong signs of a bullish recovery, with its price approaching the key $70K resistance level. Buyers are focused on breaking this critical threshold, aiming for a new all-time high by the end of the year. Technical Analysis By  Shayan The Daily Chart Bitcoin’s price action on the daily chart reflects a significant bounce after finding support within the 0.5 ($56K) and 0.618 ($52K) Fibonacci retracement levels. This support zone has repeatedly halted bearish attempts and has acted as a base for buyers to re-enter the market. The surge in buying pressure has allowed Bitcoin to reclaim the 100-day and 200-day moving averages, signaling a shift toward the bullish sentiment. Bitcoin is now testing the $70K resistance region, and a successful breakout could lead to a sharp upward move, potentially driven by a short squeeze, reinforcing the bullish trend. The 4-Hour Chart On the 4-hour chart, Bitcoin’s bullish momentum is more apparent. The asset saw a strong bounce at ...

  What Is Bitcoin? Bitcoin is the first-ever decentralized global digital currency. Among other things, this means that it is entirely computerized and doesn’t exist in a physical form. Bitcoin can be sent quickly and securely from anywhere in the world, and you only need an internet connection. Its price is determined by the free market, subject to supply and demand. Built on a decentralized network, it operates free of any central control, including but not limited to bank or government oversight. It relies on open-source and peer-to-peer software and cryptography. Known as blockchain, this technology is also fully transparent and immutable. Any changes to it can only happen following a majority consensus. The consensus algorithm that powers Bitcoin’s blockchain (also called distributed ledger technology) is called Proof of Work. The cryptocurrency can be stored in digital addresses that are spread throughout the Internet. To mak...

Bitcoin flirts with an all-time high, leaving more than $100 million worth of shorts liquidated. Bitcoin’s price seems to be on the verge of achieving a new all-time high in a massive rally leading up to the US Presidential elections. The price managed to get as high as $73,600, which is less than $200 away from a new peak. Source: TradingView This has caused considerable turmoil in the derivatives market, leaving over $110 million worth of short positions underwater. At the time of this writing, the price has now retraced below $73,000, trading at an increase of over 4.2% during the past 24 hours alone. It’s also worth noting that the total trading volume for spot Bitcoin ETFs in the US today reached a whopping $3 billion. This rally comes days before the country’s most important political event: the presidential elections, which are scheduled for November 5th. As  CryptoPotato  reported  earlier today, volatility is somewhat expected amongst market participants, given t...

Bitcoin is less than 3% away from a new all-time high, while meme coins such as Dogecoin are popping left and right.  The cryptocurrency market has increased substantially in the past 24 hours, with its total capitalization reaching $2.5 trillion. This comes on the back of gains across the board. Most notably, BTC’s price soared above $71,000 as the bulls are now eyeing a new all-time high. Bitcoin Bulls Eye All-Time High Bitcoin’s price took off throughout the past 24 hours. What is interesting is that during the past day, 12 hourly candles in a row closed in the green, accelerating the cryptocurrency and pushing it a lot closer to its former all-time high. At the time of this writing, BTC is trading above $71,000, a point last seen in June this year. The buyers seem eager to achieve a new high. This move comes just a few days before the upcoming US Presidential elections, which are scheduled for next week, November 5th. Source: TradingView Although both candidates have shown some...

With the correlation between Trump’s victory and bitcoin’s price trajectory and the asset’s Q4 seasonality performance, BTC is in for a wild ride in the coming weeks. The next few weeks will see bitcoin (BTC) experience massive volatility due to uncertainty surrounding the United States presidential election, the “Trump trade” narrative, and the Q4 seasonality performance the asset has witnessed in past years. Analysts at the crypto exchange Bitfinex said in a weekly  report  that these factors would create a “perfect storm” for BTC; however, they also promise exciting times ahead for the leading cryptocurrency, regardless of narratives making the rounds in the industry. The “Trump Trade” Narrative The U.S. presidential election has a growing influence on bitcoin’s price movements in the near term. The crypto community considers a Republican victory a bullish move for BTC, while a win for the Democratic Party means the opposite. This is because Republican candidate D...

 DOGE’s surge came after another interaction by Elon Musk. Bitcoin’s price continued its uptick since the Saturday night slump and jumped above $68,000 and even neared $68,500 earlier today. The altcoins are also slightly in the green today, with BNB going above $590 and ETH surging past $2,500. BTC Above $68K The primary cryptocurrency went through some enhanced volatility during the previous business week amid  massive inflows  toward the spot Bitcoin ETFs. It went from over $69,500 on Monday to $65,000 in just a few days to Wednesday. Another rally came that pushed it north for nearly $69,000 on Thursday, but the bears returned on Friday night and initiated another leg down. It was driven by FUD around Tether and BTC slumped to $65,500 during the night. However, the bulls emerged almost immediately and  drove  bitcoin up to $67,000 during weekend. The asset continued to gain traction during the early hours of Monday. It spiked above $68,000 and climbed to a m...

Bitcoin is less than 3% away from a new all-time high, while meme coins such as Dogecoin are popping left and right. The cryptocurrency market has increased substantially in the past 24 hours, with its total capitalization reaching $2.5 trillion. This comes on the back of gains across the board. Most notably, BTC’s price soared above $71,000 as the bulls are now eyeing a new all-time high. Bitcoin Bulls Eye All-Time High Bitcoin’s price took off throughout the past 24 hours. What is interesting is that during the past day, 12 hourly candles in a row closed in the green, accelerating the cryptocurrency and pushing it a lot closer to its former all-time high. At the time of this writing, BTC is trading above $71,000, a point last seen in June this year. The buyers seem eager to achieve a new high. This move comes just a few days before the upcoming US Presidential elections, which are scheduled for next week, November 5th. Source: TradingView Although both candidates have shown some supp...