Bitcoin Price Celebrates New Year Inside an Interim Falling Channel

Bitcoin price on January 1st saw a minor decline of less than 1 percent against the US Dollar on a 24-hour adjusted timeframe. The digital currency, which established a weekly high towards $4,239 ahead of Christmas, corrected to as low as $3,561 on Coinbase in later days. It attempted a minor bull run on December 28 but fell just short of $4,000 in absence of adequate bullish sentiment and trading volume – probably because of the New Year break. The first day of the year is now seeing Bitcoin consolidating…

Bitcoin Falls Under $3,800 as Top Cryptocurrencies Remain Mostly in Red

Tuesday, Jan. 1 — most of the top 20 cryptocurrencies are seeing discreet to moderate losses, while a handful report gains. Bitcoin’s (BTC) price is under $3,800 again, according to Coin360 data. Market visualization from Coin360 At press time, Bitcoin is down over one and a half percent on the day, trading at around $3,740. Looking at its weekly chart, the current price is slightly lower than $3,814, the price of BTC one week ago. Furthermore, the current price is lower than the Sunday high of $3,961 and notably higher than…

Bitcoin’s Institutionalization: Dates to Watch in 2019

It’s been over a year since the Cboe and CME listed the world’s first bitcoin futures contracts, the first ever bitcoin investment product to hit the legacy market. Both futures went live just before bitcoin peaked at its $20,000 all-time high. Out-the-gate trading for the derivatives reflected 2017’s market mania, and Cboe’s futures alone traded over 800 contracts (roughly $12,000,000 at the time) within the first two hours of their launch. With the creation of these markets, the euphoric anticipation of bitcoin’s debut on Wall Street conjured up delusions of…