Bitcoin growth stalled around $8000

15 May, 2019

Over the past 24 hours, Bitcoin shows almost zero dynamics. Daily trading volumes reached a new record of $34 billion yesterday. Bitcoin growth stalled around $8,000, pressing the momentum of the altcoin market. At the same time, it is worth noting that this is only a pause in growth and not a reversal to a decline. The bears could not push the benchmark cryptocurrency below $7,700. The BTC dominance index fell from 60.5% on May 14 to 58%, giving up part of the rally to the altcoins. Google Trends confirms FOMO (fear of missed opportunities) of retail investors with a surge of search queries on the subject of buying Bitcoin. It is likely that the market has just begun to warm up, and the return of Bitcoin and the cryptocurrency market to the focus of retail investors is fully capable of initiating a much longer rally than what we have seen so far. The “stops” occur at round levels ($6,000, $7,000, $8,000), and this speaks of the technical features of the dynamics, not reflecting the change of moods.


Source link   Presented by FxPro

Bitcoin is stuck near the $8K threshold

At the moment, the market is waiting for any triggers, whereas the new postponement of the SEC review to launch Bitcoin-ETF on request...

BTC shoot up to $8000 again

The Bitcoin showed that cryptocurrency has a margin of safety and that buyers are ready to support the coin at local minimums. The digital asset...

Bitcoin can collapse to $1700

According to "HiThrowaway", Bitcoin (BTC) is looking like it is on the verge of a potential drawdown. In a recent tweet, the trader noted that the last three times...


Sharp selloff for Crypto

On Friday morning, the benchmark cryptocurrency loses more than 9% and trades around $7,300. Within a few hours, the BTC fell by more than $1400...

Will Ethereum Surge Past $300?

For the best part of the last month Bitcoin has been relentlessly chomping into the altcoin markets as its dominance surged to a seventeen month high...

Bitcoin tries to grow above $8000

The price of Bitcoin continues its two-digit daily growth, already exceeding $8000. The benchmark cryptocurrency touched this level yesterday, but then faced...


eBay will accept cryptocurrency?

eBay is readying support for virtual currencies and digital collectables if new promotional adverts are to be believed. Spotted at the Consensus conference...

Bitcoin shines through market uncertainty

Bitcoin bulls shifted into higher gear over the weekend , as prices surged to above $7550, levels not seen since August 2018. With no major news...

Even Binance Hack Does Not Stop Bulls

In times gone by, any exchange breach or hack would have set shock-waves through the crypto community and sent markets plunging. It may be a sign...

  


Share it on:   or