Thursday , February 27 2020
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Matt Jackson

Articles by Matt Jackson

Bulls Take Charge As Bitcoin Crashes Below $9,000

21 hours ago

Bitcoin bulls took charge in today’s trading, as the world’s largest cryptocurrency crashed from $9,250 at 13:00 GMT to a low of $8,708 at 18:00. Prices are down nearly 6% in the last 24 hours and analysts have indicated that the most likely short-term path is down. At current prices, Bitcoin is trading at its lowest prices since the end of January. The cryptocurrency rose from $7,200 at the turn of the year to $10,400 earlier this month, an increase of $3,200. The recent downturn has now wiped out 50% of this year’s increases.
Cryptocurrency is not the only market that has suffered recently. As the coronavirus continues to spread, and many health experts warn that it has become a pandemic, the Dow has crashed almost 2,000 points. During that time, gold has rallied and added to its prices.

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Bitcoin Slumps to $9,100 and Drags Cryptocurrency Market with It

2 days ago

Bitcoin has continued a two-day slump in prices, falling 4.25% down to $9,214.70, although it fell as low as $9,120 earlier in the evening. Its continued decline has dragged the rest of the cryptomarket with it, with all top 100 coins, excluding coins tethered to dollar value, making a loss over the past 24 hours. Ripple’s price has fallen by more than 10% while Bitcoin SV, whose price fell by 15%, has been overtaken by Litecoin in market capitalization.
Ripple prices may have had a bad day, losing more than 10%, but it has had some good news. Moneygram, the global payments company, has announced that it will start using Ripple for its account-to-account transfers and that they are looking at further channels to explore. They later confirmed that Ripple would be used for both corporate

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Bitcoin Still Trying to Take and Hold $10,000

3 days ago

Bitcoin once again fell back from $10,000 resistance over the weekend, and its slip has caused the rest of the cryptocurrency market to lose ground against the dollar. The world’s largest cryptocurrency is trading at around $9,700, having peaked at $9,950. All other major cryptocurrencies have seen similar losses, with Ethereum the best of the bunch.
Bitcoin has been attempting to take and hold the $10,000 mark for the past two weeks, having first broken the psychological resistance on February 9th. Its initial breach led to a quick sell-off and further attempts have met with equally stubborn resistance from bulls and sellers. Most recently, on February 19th, the digital currency slumped from $10,100 to $9,650 and in the five days since that drop, it has traded at around the same value.

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Bitcoin Fails to Hold $10,000 Again and Slips Back to $9,600

8 days ago

Bitcoin has once again failed to hold above $10,000, and prices have slipped back down to $9,600 in Wednesday trading. Its fall has seen most of the cryptocurrency market follow suit, with the only exception in the list of the 10 largest coins being Tezos, which has gained over 7% against the dollar in the past 24 hours. Of the largest coins, EOS has seen the greatest loss over 24 hours, falling more than 11% to trade just above $4.
After a strong start to the year, Bitcoin first passed above the psychological $10,000 barrier on February 10th but fell back below the mark on February 11th. It passed the landmark again on February 12th but once again failed to hold the position. Yesterday, it retook the resistance with an increase from $9,700 to $10,100 but the bulls are having a difficult

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Bitcoin Bounces Back Above $10,000 to Reach New 2020 High

16 days ago

Bitcoin prices may have dipped below the psychological $10,000 barrier in Monday night trading, but a $300 jump in less than an hour saw the cryptocurrency back above this important level. Holders will now be hoping that the former resistance turns to support and provides Bitcoin with a springboard to head for $11,000 and beyond. Having reached a high of over $10,300, the digital gold’s price posted a new year-to-date high passing the $10,100 set on Sunday February 9th and a price that it hasn’t seen since September last year.
A number of reasons have been cited for Bitcoin’s bullish start to the year, which has seen prices increase more than 40% in just over a month. Some have pointed to the coronavirus outbreak and indicated that this is a sign that Bitcoin is now being used

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Bitcoin Breaks Above $10,000 for First Time Since September

18 days ago

Bitcoin has broken above the $10,000 heavy psychological resistance level, for the first time since September 2019. It peaked at $10,166 on Sunday, yielding a 40% Year To Date (YTD) rise. The rest of the cryptocurrency market has made modest gains against the dollar, with Binance Coin and Tezos posting substantial gains.
Bitcoin has made substantial gains since the turn of the year. Having spent most of December trading between $7,000 and $7,500, BTC prices started their move north in the first week of the year. Having seen some pullback towards the end of January, it has rocketed in the two weeks since that time. Today’s gains have been relatively modest, adding just over 2% to its price. However, that 2% took Bitcoin over the important $10,000 psychological barrier and investors will be

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Bitcoin Prepares for Another Run at $10,000 As Crypto Market Turns Green

22 days ago

Bitcoin has reached its highest price since September 2019 today, stopping just short of $9,750. The rest of the cryptocurrency market has kept pace against the dollar, with Bitcoin Cash proving especially profitable for investors. Its price has risen nearly 15% on the day, while double digit gains have also been posted by Tezos, Zcash, NEM and Lisk.
Bitcoin prices posted significant gains in January, opening the month at $7,195 and closing at $9,350, an increase of 30% in one month. The world’s largest cryptocurrency then saw some subdued price action in the first few days of February, but started to post significant and continued gains from 10:00 GMT today. Since then, the price has risen nearly 500% and is up a little more than 5% on the day. BTC peaked at $9,745, which is the highest

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Bitcoin Posts New 2020 High As It Pushes Past $9,400

January 29, 2020

Bitcoin added $250 to its price in less than an hour today, pushing it to a new 2020 high and its highest level since the beginning of November 2019, nearly three months ago. Bitcoin’s move was mirrored by most of the cryptocurrency market with the majority of coins seeing green over the past 24 hours. Analysts have pointed to a number of factors indicating that BTC, and indeed the rest of the crypto market, has now started a bull run that could last to the halving in May, and potentially beyond. Bitcoin prices have traditionally increased after halving events, although there have only been two previous events of this nature.
Bitcoin has now crossed above the 200-day simple moving average. This movement is seen as being an indicator of long-term movement, with a cross above the average

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Bitcoin Price Rises Back Above $9,000 As Some Point to Coronavirus As Catalyst

January 28, 2020

Bitcoin prices broke back through the $9,000 barrier today, following a surge during late trading. The cryptocurrency had already posted gains for the day but a final surge at around 12:00 GMT added another $200 to the price. It has continued to push and is now trading at more than $9,100. Bitcoin’s current 2020 high is $9,180, which the digital gold achieved on January 19th. Although some coins saw a slight correction during Bitcoin’s final push, most have followed and posted further gains of their own.
Having started 2020 at $7,200, Bitcoin has posted more than 25% gains in less than a month. A number of reasons have been cited. A growing number of media outlets have pointed to Bitcoin being treated as a safe haven for investors. A safe haven investment is chosen in preference

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Cryptocurrency Market Turns Green As Bitcoin Passes $8,700

January 27, 2020

Bitcoin prices have seen modest gains today, increasing more than 3%, pushing through the $8,600 barrier and above $8,700, already wiping out last week’s 1% loss. Some analysts are pointing to a confluence of bullish indicators, suggesting that the next major bull run, like the one seen in 2017 that took the cryptocurrency’s price to its highest ever figure of $19,783, is on its way.
Bitcoin’s bullish movement has seen the rest of the crypto market turn green, with Bitcoin Cash adding 12% to its price, and Ethereum Classic rising nearly 18% in the past 24 hours. Other coins that have witnessed major increases include Bitcoin Gold, up nearly 10%, and Synthetix Network Token, up more than 10% against the dollar.
According to some analysts, traders might not have to wait long for a major

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Bitcoin Bulls Struggle to Defend $8,450 and Drag Cryptocurrency Market Down

January 23, 2020

Bitcoin prices have dipped below the $8,450 support level today, and bulls will be hoping to defend this level in order to instigate a bounce back to test $9,000 resistance in the near future. Bitcoin’s slide has seen the rest of the cryptocurrency market in the red, with only a small number of significant price gains. Swipe has seen an increase of nearly 15% over the past 24 hours, against the dollar.
Bitcoin broke down from an ascending channel on January 19, its prices falling from $9,100 to $8,650. It continued to trade within this range for the proceeding days before sliding down to $8,450 earlier today. There is some support at this level, but bulls will be hoping to defend this support in order to prepare for another push at $9,000.
The rest of the cryptocurrency market has followed

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Bitcoin Stumbles at $9,200 As Bitcoin SV Soars Again

January 20, 2020

Bitcoin prices breached $9,000 resistance yesterday, reaching as high as $9,198.97 before losing more than $500 in less than an hour. Prices have stabilised at around $8,600 today, and most of the crytocurrency market has remained roughly stable over the past 24 hours. Bitcoin SV is the one exception, posting 15% gains in the past 24 hours, following speculation over founder Craig Wright being Bitcoin founder Satoshi Nakamoto and ahead of the coin’s hard fork which is set for the beginning of February.
Even by cryptocurrency standards, Bitcoin has enjoyed an exceptional start to 2020. When its price peaked at over $9,000 yesterday, the digital currency had seen gains of nearly 30% in less than three weeks, having started the year at $7,200. Having initially broken through the $9,000

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Bitcoin Tests $9,000 Resistance As Crypto Market Turns Green

January 17, 2020

Bitcoin has reached a new 2020 high as prices tested $9,000 resistance this morning. The increase has helped push the rest of the cryptocurrency market up, with Bitcoin Cash and EOS leading the top 10 coins. Ethereum Classic, with more than 30% gains, however, has seen the biggest gains, but only a handful of the 50 biggest coins have failed to make gains on the dollar in the past 24 hours.
Bitcoin prices have reached $9,000 for the first time since November 11th 2019, more than two months ago. Trading volume has remained high over the past few days, while tensions between Iran and the US have continued to increase as Iran’s Supreme Leader, Ali Khameini, described the recent missile strikes against the US as being a “slap in the face” for Trump.
Khameini was giving his first sermon

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Bitcoin Reaches New 2020 Highs As Bulls Push for $8,600

January 14, 2020

Bitcoin has reached new 2020 highs, breaking resistance at $8,500. Trading volume has increased, along with volatility, leading many traders to predict further gains with traders hoping for a daily close above $8,500. The next level of resistance is at $8,800.
The rest of the crypto market has seen gains, with Bitcoin forks like Bitcoin SV leading the way. Bitcoin SV has overtaken Litecoin, once again, in market capitalization, while Dash has also continued its recent run posting 25% gains in the last 24 hours.
With the Bitcoin halving just a couple of months away, many traders have been waiting for a prolonged run from cryptocurrency. Previous halvings, which occur every four years, have led to sustained price increases in the lead up to the event. The event is built into the blockchain

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Bitcoin Stable After Posting Highest Weekly Gains Since October

January 13, 2020

Bitcoin is trading in a channel between $8,000 and $8,200 as it enters an accumulation phase, after posting its biggest weekly gains since October. The increase means that the cryptocurrency has broken out of the descending channel, lending credence to the belief that the world’s largest digital currency could be ready to move to new highs. The move would coincide with Bitcoin’s halving, which is set to occur in May this year. The halving event happens every four years and, historically, the coin has posted very strong gains in these years. Analysts have said that any price increase typically occurs in the lead up to the halving, rather than during the event itself, which could highlight potential short-term gains.
In the coming days, bulls will be hoping for a break above the $8,200

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Crypto Market Turns Green with Bitcoin SV Taking the Spotlight

January 11, 2020

Bitcoin has made a decisive move, retaking the $8,000 resistance mark. Prices have continued to push to $8,200, as the world’s largest cryptocurrency continues to try and retake the $8,450 level that it experienced on January 8th. BTC did fall below $8,000 on January 9th but has seen sustained increases over the course of the day, today, and looks set to push further. Optimistic traders have suggested that a parabolic price movement could now be on the cards.
The rest of the crypto market also returned profits against the dollar, with the controversial Bitcoin SV fork taking the plaudits thanks to a nearly 50% price gain on the day. Bitcoin SV has now overtaken Litecoin in market capitalization, although this could change as prices continue to fluctuate.
Bitcoin SV is a fork of Bitcoin

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Bitcoin Breaks $8,000 Barrier and Now Trading at $8,150

January 7, 2020

Bitcoin looks set to post its fifth set day day of profits. Having started the day $7,750, the cryptocurrency started to make consistent gains at around 15:00 GMT. In the proceeding five hours, it had broken through the $8,000 barrier and continued to make its way through resistance at $8,100. Some further resistance lays ahead at $8,200 but sustained volume could lead to further upside.
The world’s largest cryptocurrency started the new year at $7,175, and it had posted modest gains, by the turbulent asset’s standards. Bitcoin sceptic Peter Schiff pointed to the fact that Bitcoin had only made the same 4% gains for the year as gold, in a Tweet posted yesterday. Within hours of his message, Bitcoin prices started to rise. BTC is now up more than 12% year to date.

For those Bitcoin bugs

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Bitcoin Continues Surge to $8,000 While Ripple Also Shines

January 7, 2020

Bitcoin has extended its gains made earlier today, adding more than $400 to its price. Having broken resistance at $7,600 at the third time of asking, the world’s largest cryptocurrency is now testing $8,000. Bitcoin is far from alone, with green showing across the cryptocurrency board. Ripple has seen some of the greatest gains, now having risen more than 13% against the dollar.
Bitcoin has enjoyed a strong couple of days. Having dipped below $7,000 on January 3rd, Bitcoin had risen to $7,500 in earlier trading on Monday. In the past 4 hours, Bitcoin prices have risen more than $300, or 4%, and the digital currency is now trading at $7,950; the first time it has traded at this level since November 21st. The most recent increase has coincided with heightened tensions between the USA

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Bitcoin Retakes $7,500 As Cryptocurrency Market Sees Green

January 6, 2020

Bitcoin prices have risen to test resistance at $7,600 for the first time in two weeks. The cryptocurrency has previously tested this level on December 23rd and December 9th. On both these occasions, it failed to breach the level, but investors will be hoping that the digital currency will perform better this time. Today’s rise comes after BTC fell below $7,000 on January 3rd. The move has seen altcoins increase their prices, with all of the top 10 making positive moves. It is Ripple that has enjoyed the greatest daily gains, increasing more than 10% against the dollar, after crypto exchange Binance announced Ripple futures trading.
Bitcoin finished December trading at $7,200. In the first few days of the new year, it saw a 3% slide with prices dipping to $6,950 on January 3rd. However,

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Bitcoin Regains Losses After Bouncing Hard Off $6,550 Resistance

December 18, 2019

Having endured a poor couple of days, Bitcoin looked certain to be following a similar trajectory today, falling to $6,545 at lunchtime. However, no sooner did it fall this low, than Bitcoin prices started to recover. Within an hour it had recovered to $6,700 and passed $7,000 at 20:00 GMT. Bitcoin is now trading at $7,135 at 21:00 GMT. Other cryptocurrencies have followed the recovery. Ethereum, Ripple, and Bitcoin Cash have posted similar-sized gains, while EOS is the best performing of the major coins.
There had been plenty of negative sentiment around cryptocurrency in the past few days. Continued sumps had been blamed on low trading volume, while some pointed the finger of blame at a Ponzi scheme called PlusToken. The Chinese scheme offered investors the opportunity of 600% gains,

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Bitcoin Endures Another Bad Day and Sends Crypto Market into Free Fall

December 17, 2019

Bitcoin has endured another bad day, dropping to $6,600 and sending the rest of the cryptocurrency market into free fall. At one stage, Bitcoin prices had shed more than 5% of its price, but other cryptocurrencies experienced even bigger losses.
Ripple has lost more than 12% with Bitcoin Cash and Bitcoin SV not far behind with 10% losses of their own. ChainLink, which has performed well in recent months, even when Bitcoin has pushed the rest of the market down, has lost more than 13%. Of the top 50 coins, the only one to post reasonable gains has been Waves, which has seen its price rise by 16%.
Traders are struggling to see solid reasons for the significant drops, but have pointed to lower trading volume over the past few weeks as a possible catalyst.
Just over three weeks ago, Bitcoin

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Bitcoin Plummets to $6,850, Losing 4% in an Hour

December 16, 2019

Bitcoin prices plummeted around 5% earlier this evening, falling from a price of $7,117 to $6,850 in less than an hour. The drop comes a year after Bitcoin was at $3,100, and many still expect the price to rise, especially as the holiday season approaches. However, there will be some fear that further downward price action could pull Bitcoin down to $6,500 and further, with $5,500 offering some support at lower levels.
It is a year to the day since Bitcoin bottomed out at $3,100. The drop led much of the mass media to predict the end of Bitcoin, with those that were staunchly opposed to the cryptocurrency soundings its death knell. Even following today’s price drop, it has recovered to post more than 100% gains in the year since. However, such is the nature of cryptocurrency volatility,

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Bitcoin Fails at $7,650 While Matic Loses 70% in an Hour

December 10, 2019

Bitcoin price rises were halted last night, as the cryptocurrency failed to break resistance at $7,650. Prices bounced off the resistance level, falling as low as $7,273. Although the digital currency stabilized, it has seen more decline in the past hour and is now trading at less than $7,250. However, analysts are still hopeful of a sustained move upwards in the coming days. Bitcoin’s dip has led to a similar fall for most cryptocurrencies, with most coins losing around 2% to 3% on the day. Exceptions include Chainlink, which is up more than 7% on the day, and Matic, which plummeted more than 70% in less than an hour.
BTC prices had been steadily trading between $7,450 and $7,600 over the weekend and into Monday, but the cryptocurrency made a major push at $7,650 late last night. No

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Bitcoin Hovering at $7,500 but Analysts Point to a Potential Surge

December 8, 2019

Bitcoin has been trading between $7,450 and $7,550 for most of the day. A number of analysts and commentators have said that signals are pointing to the cryptocurrency forming a bottom, and have warned that there is a price increase coming and that it could prove to be a big one. Not all analysts agree, of course, with some pointing to a retest of $4,400 as the likely next move.
Meanwhile, most other major coins have held steady on the day, with Tezos being the largest coin to have made significant gains. Ethereum’s Istanbul hard fork has not helped the second-largest cryptocurrency, having posted a moderate loss against the dollar in the past 24 hours.
According to market intelligence firm Glassnode’s Twitter account, Bitcoin’s bottom could already be with us. They pointed to the ratio

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Bitcoin Attempts $7,500, Possibly Driven by SEC Approval of BTC Fund

December 7, 2019

The Bitcoin price has made another push at $7,500, having broken through earlier in the day but fallen back below the key level. News that the United States Securities and Exchange Commission (SEC) has approved the issuance of a Bitcoin backed fund could fuel further price rises.
Having started the day just above $7,400, prices were trading between $7,480 and $7,390 most of the day. However, at roughly 18:00 GMT, prices spiked, rising $80 in 6 minutes. A 1% price rise isn’t extraordinary by Bitcoin standards, even in this short a space of time, but it coincided with news that the SEC had approved the launch of the NYDIG Bitcoin Strategy Fund. The fund does not detail a minimum investment and has listed a maximum offering price of $10 per share.
The news means that institutional investors,

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Bitcoin Price Briefly Rockets to $7,750 After Slip to $7,000

December 4, 2019

Having earlier slipped to a weekly low of $7,067, Bitcoin prices briefly rocketed to $7,750, potentially having triggered buy orders at the low price. As prices slipped, some keen analysts pointed to a potential bear trap that would test $7,870. They pointed to diminishing selling volumes and bear exhaustion. Within hours of the prediction, prices rose nearly 10% in less than an hour to reach a daily high of $7,750. All major cryptocurrencies have seen a rise against the dollar in the past 24 hours. Tron, which is never far from cryptocurrency headlines, is the largest coin to buck the trend and post losses on the day.
Despite having enjoyed a positive October, Bitcoin saw its prices slump in November, opening the month at $9,140 and closing it out at $7,540, a drop of 17.5% for the month.

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Bitcoin Price Surges to $7,600 but Will It Hold?

November 27, 2019

Following a brief slum below $7,000, Bitcoin prices surged nearly $800 in a few hours to surpass the $7,600 mark. The digital currency is currently trading at $7,575 and investors will be hoping that it can hold above $7,500 and start a short-term bull run.
Bitcoin has had a torrid month, so far, having started November 1st at a price of $9,200. Since then, it has fallen to and dropped below the $7,000 mark on several occasions. At its current price, it has lost nearly 20% in a month. At the end of June, Bitcoin was trading at over $13,000, so things look even bleaker. However, it is worth remembering that the world’s biggest cryptocurrency started the year at under $4,000 and has doubled in price since that time. Volatility in Bitcoin price is normal, which is what has helped make it such

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Bitcoin Slumps to $6,500 but Recovers Quickly

November 25, 2019

Bitcoin prices slumped overnight, falling as low as $6,500. However, hours later, the cryptocurrency had recovered its losses and is now trading at $7,250. Most major cryptocurrencies faced a similar fate, with significant losses overnight, followed by a recovery in morning trading. Before the bounce, Bitcoin was trading at half of its June peak price, although it is still more than double its early January price.
Some analysts have warned that worse may still be to come as there is a potential death cross on the horizon. A death cross forms when the 50-day moving average falls below the 200-day moving average. This has only happed a handful of times in Bitcoin’s history but has led to significant losses in those instances. Some have warned of a $2,500 Bitcoin if buyers fail to retake

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Bitcoin Crashes Under $7,000 in Early Trading

November 22, 2019

Having fallen under £7,000 support for several hours in earlier trading, Bitcoin prices have recovered a little, but are still trading at $7,300, a 3.63% drop in the past 24 hours. Bitcoin is now at its lowest price since the beginning of May.
All other major coins have seen significant losses against the dollar, with Bitcoin Cash and Binance Coin posting the biggest losses of the top 10 coins, falling 6.56% and 7.11% respectively. Basic Attention Token is the biggest coin to have posted any 24 hour USD gains.
Bitcoin has been shedding value from its prices for the past few days. Having seen prices above $9,000 at the beginning of November, digital gold has seen sustained price drops, having lost nearly 20% in three weeks. Things looked a lot worse for Bitcoin holders this morning,

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Bitcoin Prices Lose 5% with Slide to $7,500

November 21, 2019

Bitcoin has continued its dismal month, losing more than 5% of its price and reaching as low as $7,500 at one stage today. Prices have steadied at $7,600, but the fall dragged virtually the whole cryptocurrency market down with it.
The likes of Ethereum, Bitcoin Cash, Litecoin, EOS and Bitcoin SV are some of the other major coins to have seen drops of more than 5% against USD.
At this time last month, Bitcoin was at a similar level but saw three days of significant gains push prices back up to $10,000 and it settled at $9,000 until the start of November. However, prices started to decline on November 7th, and in the two weeks since that date, the cryptocurrency has lost $1,800, equivalent to around 20% of its price. Traders will be hoping for a positive end to the month to match that

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