Bets On Bitcoin Price Decline Hit 6-Week High

The pessimistic sentiment around bitcoin prices saw the number of shorts hit a six-week high on Thursday. The BTC/USD short positions on the cryptocurrency exchange Bitfinex jumped to 37,891 – the highest level since Oct. 15 – and were last seen at 36,996. Notably, shorts have risen by 95 percent in the last three weeks, accompanying BTC’s recent drop to 14-month lows near $3,500. More importantly, the short positions remained elevated above 35,000 during BTC’s oversold bounce from $3,500 to $4,400 and climbed to fresh multi-week highs on Thursday. Further, the…

Google Searches for ‘Bitcoin’ Just Hit Their Highest Level Since April

Google’s trend explorer reveals the weekly number of worldwide searches for the keyword “bitcoin” has reached levels not seen since the first week in April.  While the exact number of searches accrued so far this week is not clear, data from Google reveals ‘bitcoin’ searches in the past three days alone made up 17 percent of its all-time-high weekly search volume set from Dec. 17-23, 2017. At that time, the cryptocurrency was trading around its record high near $20,000, while at the time of writing, it is valued at $4,167…

Craig Wright’s Bitcoin Cash Fork Can Hit $1 Million: Fmr Reddit Crypto Dev

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. According to former Reddit crypto lead-turned-entrepreneur Ryan X. Charles, there are only a couple options for the future of Bitcoin, specifically Bitcoin Cash-spinoff Bitcoin SV — it goes to astronomical highs, or it goes to zero. To illustrate his point, published the following tweet on Friday. It seems he has decided that of the two networks that came out of the BCH hard fork, he’s on the side…

$5K Bounce? Bitcoin Price May Have Hit Bottom For Now

Bitcoin (BTC) could be in for a stronger recovery rally in the next few days, having found a temporary bottom near $4,000. The leading cryptocurrency, which hit a 14-month low of $4,048 on Bitstamp yesterday, is now trading at $4,580, representing a 2 percent gain on a 24-hour basis. The $500 recovery seen yesterday indicates that the market is finally paying heed to the record oversold levels reported by the 14-day relative strength index (RSI). Currently, the indicator is still hovering in oversold territory below 30.00. As a result, BTC…

Bitcoin Cash Drops 5% as Crypto Market Retraces, Tokens Take a Hit

Twitter Facebook LinkedIn After demonstrating nearly a 50 percent gain within a three-day span, Bitcoin Cash dropped five percent of its value against the US dollar. The volume of Bitcoin Cash, which hovered at around $1.4 billion on November 6, has since dropped to $950 million, by 32 percent. Still, on a weekly basis, the volume of Bitcoin Cash is up from $750 million from $200 million. Ripple (XRP), EOS, and Stellar (XLM), three major cryptocurrencies that experienced fairly large gains against both Bitcoin and the US dollar, recorded a…

The Number of Bitcoin Short Positions Just Hit a 3-Month Low

The bearish sentiment around bitcoin sank to three-month lows earlier today as short positions placed on crypto exchange Bitfinex fell to their lowest level since August 5th. At approximately 11:00 UTC, the number of short positions dropped to 21,434, which represents a 33 percent drop in the past eight days alone. During the same time, longs – or positions that are betting on an increase in bitcoin’s price – also witnessed a notable increase of 10 percent, the current number of which (24,410) marks a three-week high. Indeed, the sentiment here seems…

Bitcoin Futures Volatility Hit Record Low in October: CBOE

Twitter Facebook LinkedIn Bitcoin has been unusually stable in recent weeks, and the decrease in volatility has now reached historic levels in the futures markets. Bitcoin Volatility Hits Record Level in Futures Markets That’s according to Kevin Davitt, senior instructor for The Options Institute at CBOE Global Markets, who said that Chicago-based derivatives exchange saws record low volatility in its bitcoin futures market during the month of October. Speaking on the subject during CBOE’s latest weekly bitcoin futures roundup, he said: “Last week, which ended on October 26, saw the…

Bitcoin Price Drops $200 to Hit Two-Week Low

After nearly two weeks stagnating at around $6,400, bitcoin (BTC) has suddenly dropped out of the trading range. At 12:00 UTC, the world’s largest cryptocurrency by market capitalization dropped nearly $200 to reach a two-week low of $6,243. For the last 14-days, bitcoin had been stuck in a range of $6,590-$6,403 – its least volatile stretch since April 2017, according to CoinDesk’s Bitcoin Price Index (BPI). The squeeze in bitcoin prices had been somewhat surprising, since the cryptocurrency has shown to be correlated with the equities markets which are about to end…

Bitcoin Price Rises to $6,450 as Market Stabilizes, Has Crypto Hit a Bottom?

Over the past 72 hours, the cryptocurrency market experienced one of its wildest fluctuations in recent years, triggered by the sudden increase in the Bitcoin price. The unforeseen decline in the value of Tether (USDT), a stablecoin backed by the US dollar on a 1:1 ratio, led premiums on major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) to materialize, briefly pushing the price of BTC to $7,700. In actuality, the price of BTC on fiat-to-cryptocurrency exchanges such as Coinbase and Bitstamp did not exceed $6,700. Still, the short-term recovery of…

Ethereum Sell-Off in August Shows Crypto Has Hit a Bottom in 2018

According to cryptocurrency analyst Eric Thies, the crypto market may have hit a bottom in September as the price of Ethereum (ETH) declined by more than 50 percent. Since delving below the $180 mark, ETH has since recovered to $230, likely due to the demonstration of massively oversold conditions by the market in late September. ETH Enabled ICO Bubble, Which Led to Crypto Bubble ETH/USD | Bitfinex Throughout the third and fourth quarters of 2017, interest and demand for initial coin offering (ICO) projects hit an unprecedented level. Blockchain projects…