The bitcoin market continued to move sideways last week with prices bouncing between $236 and $239. This week, traders will be looking for strong buy or sell signals from the market with an eye fixed on exchange volumes to reinforce the validity of the price movements. With a solid support level...
Strong positive price movements throughout the past week have helped push the price of bitcoin to a two-week high. Unfortunately, exchange volumes continued to trend lower, raising concerns of increased volatility. With the bitcoin price having broken out beyond resistance levels, traders will be...
News broke from the CFTC last week regarding the future legality of certain trading venues that offer swap facilities and, more importantly, that bitcoin is now classified as a commodity. Although there is now greater clarity around the categorization of bitcoin and which federal regulatory body...
August was a tumultuous month for both global stock markets and the bitcoin market. Corrections in key global markets, the forking debate within the Bitcoin community and issues with several major bitcoin exchanges all played a role in driving down the price of bitcoin for the month.
As we alluded to in last week’s Lifting the Offer, growing negative trader sentiment, specifically a lack of confidence in the early-September rally, was a key catalyst for the weekend correction. The bitcoin price was down over 4% for the week but remains up overall in September. This week, all...
As summer draws to a close, the hope among traders is that the sell off in the bitcoin market is also coming to an end. The bitcoin price is up over 6% over the last few days, a welcomed increase following a tumultuous three-week period. Given the recent price jump, a pullback may be on the...
The bitcoin price was down 3% last week with the release of Bitcoin XT serving as the key driver of the sell-off. The ongoing Bitcoin forking debate should continue to impact the markets this week, as traders look to process the ramifications of a potential fork in January.
Following a quiet work week, the bitcoin market plummeted nearly 7% on Saturday following news that several Bitcoin firms would stop operating in New York due to the BitLicense. The price drop erased a month’s worth of gains for many traders who will look to identify new support levels and start...
In July, the decline of the Shanghai Stock Exchange and crisis in Greece fueled an early uptrend in the bitcoin market. The price briefly broke $300 before falling back below that key resistance level. Despite ending the month quietly, bitcoin outperformed several major asset classes including...
Trading in July was heavily influenced by the events in Greece, trading in the Shanghai composite and speculative bets in the Litecoin market. Unlike July, August should offer greater stability through inactivity. The global financial markets typically generate less news and lower volumes in...
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.
