January was a tough month for the financial markets and bitcoin was no exception. Bitcoin opened the year at $432 and briefly broke $450 before falling to $365 to close the month of January. The key driver of the downward price movement was Mike Hearn, a former bitcoin core developer who sold out...
Our bitcoin OTC data from January shows several interesting macro trends related to market participant positioning. Trades made in early-January saw buyers place long-term foundational bets on the price of bitcoin. These trades were executed with positive December price movement and the Q4 bull...
The price of bitcoin fell nearly 6% last week with bitcoin exchange pricing heavily influenced by OTC activity. OTC sellers took deeper than normal discounts as buyers priced-in potential near-term sell offs (learn more in our next Bitcoin OTC Market Update out Thursday).
Bitcoin traders have been navigating choppy waters thus far in 2016. Over the past week, the market hit a high of $423.50 and low of $374.50, presenting traders with a nice opportunity to lock in fresh profits in the short-term. Traders should look for even more volatility in the week ahead.
The bitcoin market had a strong week with prices spiking from $426 to peak around $464 mid-week before closing in the high-$440s. This week, the market will look to consolidate above the new support level of $440.
With a strong finish to the year, many bitcoin traders closed their 2015 positions with gains topping 30%. Despite the positive momentum, the last two months have been far from smooth.
itBit’s OTC trading volume fell 19% month-over-month in December due to the annual end-of-year slowdown within the trading world. During this same period, exchanges tracked within the XBX Index posted a 27% decline in trading volume.
2015 was an exciting year for itBit’s bitcoin trading services featuring many firsts, milestones and strong growth. In May, we launched our bitcoin exchange in the United States after becoming the first company in the space to receive a trust company charter from the New York State Department of...
The bitcoin market was relatively quiet over the last week with volumes and volatility sitting at lower levels. With many traders starting the year with only dry powder and little in the way of long positions, the market may swing higher this week and could continue to edge up throughout the month.
The bitcoin market started the week hot, shooting up 5% between Monday and Tuesday. Ultimately, the early gains were erased and the price closed the week in the red. Traders should anticipate higher volumes early this week with volatility tempering down as the Christmas holiday slows market...
Crypto asset trading involves a high degree of risk. The crypto asset market is new and unproven and may not grow. Currently, there is relatively small use of crypto assets in the retail and commercial marketplace in comparison to relatively large use by speculators, thus contributing to price volatility that could adversely affect an investment in crypto assets. In order to participate in the trading of crypto assets, you should be capable of evaluating the merits and risks of the investment and be able to bear the economic risk of losing your entire investment. No material at this site should be considered as an offer by itBit to sell or solicitation by itBit of any offer to buy bitcoin or other crypto assets.
