Bitcoin Price Flirts with Breakout But May Not Yet Have Bottomed

The bitcoin price on Sunday surged as high as 7.28 percent against the US dollar ahead of the US session. The BTC/USD rate is trading at 4158-fiat at press time. The pair is almost completing the formation of an inverse head and shoulder pattern. Its neckline appears more like a near-term falling trendline, capping the strong upside movements lately. The latest jump in BTC/USD has affirmed what bulls are attempting to break at this point. Breaking above the neckline level sets up a run towards 4500-fiat. The resistance level is…

Lack of Momentum Leads Crypto to Drop

CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. Over the past 24 hours, the Bitcoin price has dropped by more than five percent from $4,265 to $4,030, demonstrating a decline in daily volume. On fiat-to-cryptocurrency trading platforms like Coinbase and Bitstamp, the dominant cryptocurrency was dangerously close to dipping below the $4,000 support level. A drop below the $4,000 mark could disallow a short-term corrective rally to the mid-$4,000 region in the short-term, several analysts said. $4,000…

Former Ernst & Young Analyst Disillusioned by the Blockchain

A recent article in Barron’s describes Angus Champion de Crespigny, who spent ten years at professional services firm Ernst and Young and led the blockchain financial services division for years and was the subject of the article entitled “This Blockchain Believer Turned Heretic Is Still Bullish On Bitcoin,” as a “major skeptic.” Champion de Crespigny describes himself as an “experienced executive with 11 years in financial services, evangelist for bitcoin and cryptocurrencies, and a pragmatist for distributed and decentralized systems.” Through the course of the interview, Champion de Crespigny speaks on…

November Rout Leaves Crypto Prices Drowning in Sea of Red

It was not just the trees that shed their red leaves this November. The autumn was doing its job in the cryptocurrency market, too. The industry lost close to $70 billion worth of market capitalization this month, according to CoinMarketCap.com. Bitcoin, the world’s largest cryptocurrency, established an aggregated low at $3,606 after dropping from its monthly high at $6,540. That marks a 44.8% drop between the month’s peak and bottom level. Other top cryptocurrencies also didn’t fare well during the November bloodbath. XRP, for instance, noted a 40.4% drop between…

Ethereum Price Weekly Analysis: ETH/USD Facing Uphill Task Below $140

Key Highlights ETH price formed a decent support near $98 and recovered recently against the US Dollar. There is a major bearish trend line formed with resistance at $117 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely to face a lot of hurdles near $117, $120, $$132 and $139 in the near term. Ethereum price remains in a bearish zone versus the US Dollar and Bitcoin. ETH/USD must clear the $117 and the $132 resistance to climb towards $165. Ethereum Price Analysis After a…