Bitcoin Price in Near-term Bias Conflict as $4,000-Resistance Teases

The bitcoin price consolidated this Thursday as $4,000-level continued to block the rally from a breakout attempt. The bitcoin-to-dollar exchange rate dropped as much as 5.36 percent of its value since its yesterday’s high at $3,971. The pair at press time is correcting higher on moderate volumes, up 0.71 percent from its intraday low at $3,758. The US dollar rate is posting minor losses owing to poor export data from the US markets. But its benefits are visibly going to the Japanese yen the most. Bitcoin is heading towards the…

Dow Downturn Shows Market is ‘Going into a Recession’: Gluskin Sheff

The Dow Jones Industrial Average and other major stock market indices have posted steep declines during the second trading day of 2019, extending a downturn that saw them post their worst December returns since 2008. According to the top economist at Canadian wealth management firm Gluskin Sheff, these losses may have only been the beginning. Rosenberg: ‘More Than 80 Percent Chance of Recession’ Following Dow Plunge Speaking during an interview on CNBC’s “Trading Nation,” David Rosenberg, Gluskin Sheff’s chief economist and strategist, said that he believes the recent stock market…

Bitcoin May See Long-Lasting Stability Throughout ‘Boring’ 2019

Over the past 24 hours, the cryptocurrency market has seen its valuation drop from $135 billion to $130 billion, as the Bitcoin price dropped below the $3,800 mark. On January 2, the dominant cryptocurrency eyed a breakout above the $4,000 resistance level, but it struggled to increase further from $3,912, retracing to $3,780. Boring Year For Bitcoin in 2019 Historically, Bitcoin has tended to take 62 weeks on average to recover from a major correction or a bear market, and all five corrections the asset experienced in the past nine…

Bitcoin Too Scammy, Volatile for Broad-Based Adoption: Analyst Mark Dow

Analyst Mark Dow, the trader who closed his short position after bitcoin fell 80 percent last year, doubts whether Bitcoin will ever attain a broader adoption. Bitcoin-Short Trader Bearish on Future of Crypto Adoption Mark Dow, a former International Monetary Fund (IMF) economist, said in a tweet that the world’s leading digital currency “lacks a credible use case” to withstand the bearish sentiment. He discredited bitcoin‘s potential of becoming a store of value asset, stating that those who make these claims are delusional and scammy. I’ve yet to hear a positive,…

Tron Price Analysis: TRX Print Higher, ERC-20 Tokens Now “Artifacts”?

Latest Tron News By destroying an additional 182 million TRX ERC-201 tokens, Justin Sun is confirming his distaste of ERC-20 tokens. Back in November 2018 when he announced on Twitter that the platform has burnt $800 million worth of ERC-20 tokens, he let the whole know of his sentiment although Ethereum was where Tron steadied before launching their own blockchain, virtual machine and even tokens—TRC-10 and 20 tokens. I just burned 800 million USD worth $TRX ERC20 tokens. $TRX ERC20 tokens will soon become historical artifacts😋 Don’t forget to keep…

Bitcoin Eyes Test of Key Price Hurdle in First Since November

Bitcoin (BTC) could test a key resistance line for the first time in nearly two months. The widely followed 50-day simple moving average (SMA) line is currently located at $3,940 – $100 above bitcoin’s current price of $3,840 – according to Bitstamp data. The crucial SMA line was last put to test on Nov. 8. Back then, the SMA was located at $6,450 and was serving as a stiff resistance. On Nov. 14, BTC nosedived below $6,000, putting the bears back into the driver’s seat.  As a result, the gap…