Bitcoin Price Key Highlights
Bitcoin price is in the middle of a correction and is around the decision-making point for buyers.
Technical Indicators Signals
The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. This means that the uptrend is more likely to resume than to reverse. The gap is still sufficiently wide to suggest that a downward crossover or return in selling pressure isnât imminent.
Stochastic is on the move down but is nearing oversold levels to show exhaustion among bears. RSI is also approaching oversold territory, so buyers could take over if sellers take a break.
In that case, bitcoin price could still bounce back to the swing high or create new record highs. There is still significant buying interest at this former resistance area, which lines up with the 61.8% Fibonacci retracement level.
The emergence of bitcoin gold has been weighing on bitcoin price these days as investors are once again worried about how the upcoming network upgrade could fare. Back in August, the rise of bitcoin cash also brought about several setbacks in bitcoinâs ascent, but the core version eventually won out.
Representatives of bitcoin gold say that the new cryptocurrency network is aiming to be open to the public by November 1st. It aims to lessen the control of miners on the bitcoin network by replacing the current algorithmÂ with one that cheaper graphics processing units can mine.
This could then undermine the current valuation of bitcoin core, which has proven to be very costly to generate usingÂ expensive application-specific integrated circuits.
National Chinese Science Academy Launches Blockchain Lab
China's federal science institution, the Chinese Academy of Sciences, is taking part in a new research effort around blockchain.
The highest academy for science in China said it had established a n
St Louis Fed Now Tracks Crypto Prices on Its Research Database
The St. Louis division of the U.S. Federal Reserve Bank is now tracking the prices of four cryptocurrencies in its research database.
According to an announcement on Tuesday, Federal Reserve Econom
Chinese Gov’t Rates EOS as the Best Public Blockchain, Bitcoin Drop to 17th
EOS tops the public blockchain among 30 projects in the cryptocurrency space, while bitcoin, the original and largest cryptocurrency, is ranked 17th, according to the Chinese government’s second mon
Bloomberg Terminal Adds Huobi's Cryptocurrency Market Index
Cryptocurrency exchange Huobi announced that financial data firm Bloomberg has added the HB10 crypto market index on its terminal for subscribers.
In an announcement on Thursday, Huobi said users o
Skycoin’s Chinese Marketing Team Took CEO Hostage and Stole 18 Bitcoins
The blockchain project Skycoin, which touts itself as the “the new internet for the new world”, saw a major sell-off over the past two weeks after an insider trading and a series of scandals were
Winklevoss Brothers Score Another Crypto Investment Patent
Crypto exchange Gemini founders Tyler and Cameron Winklevoss have long sought the creation of a bitcoin exchange-traded fund.
And while that process remains in flux, a company tied to the brothers
Why bitcoin made a comeback after the South Korean exchange hack
Bitcoin made a comeback despite crashing after a recent hack on a South Korean exchange, and two cryptocurrency traders explained why it rebounded. Charlie Lee, the founder of Litecoin, a global
Trump Official Argues for 'Sweet Spot' in Crypto Regulation
The U.S. government needs to find the "sweet spot" in its oversight of the cryptocurrency ecosystem, Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, said on Wednesday.