- With the markets and the traders getting busy in dealing with the volatility in the fiat currencies, the bitcoin traders have been unable to spend too much of their focus on bitcoin for now and the sheen seems to have been lost from the bitcoin in the short term.
- We believe that it will only be a short term phenomenon and that the focus will be back in the bitcoin prices in the short and medium term and we should then be ready for the next leg of the bull run.
- It has to be understood that the global trading dynamics also have a large impact on the bitcoin trading and it is also believed that the gold prices have an impact on bitcoin and with these taken into consideration, it is understandable to see the bitcoin bulls struggling to push the prices higher during this time.
- This can be seen in the choppy kind of trading that we are seeing in the bitcoins over the last few days and this is likely to last during the short term.
- The confidence of the traders also seem to have been dented a bit by the large and unexpected drop in the prices of ethereum to a fraction of their value a couple of weeks back and it is likely to take some time for it to regain the confidence of the traders.
Bitcoin prices continued to consolidate and range, as we have been mentioning in our forecasts over the last few days. With the markets and the traders getting busy in dealing with the volatility in the fiat currencies, the bitcoin traders have been unable to spend too much of their focus on bitcoin
Continue reading “Bitcoin and Ethereum Price Forecast – Consolidation Is the Name of the Game”
- Bitcoin prices, for a change, had to be content with being out of the limelight over the last few days as the prices consolidated and ranged and continued to be under some pressure from the dollar which helped to maintain the prices under a tight leash.
- The prices are still in an uptrend in the medium and long term and this is confirmed by the fact that any correction in the prices has been met with some strong bounce over the last few days.
- This is likely to continue in the short term and with the other instruments also undergoing some large volatility, it might be the right time for the bitcoin traders to take some rest and wait for the prices to show its hand.
- Technically, we expect the bitcoin prices to continue to range and consolidate in the short term between $2200 and $2800.
- Traders would be well advised to wait for a break in this range to set up positions for the long term while the range traders could take trades on the fringes of the range.
Bitcoin prices, for a change, had to be content with being out of the limelight over the last few days as the prices consolidated and ranged and continued to be under some pressure from the dollar which helped to maintain the prices under a tight leash. After all the volatility that we had witnessed
Continue reading “Bitcoin Price Forecast – Consolidation To Continue”
- We had mentioned in our forecast yesterday that the bitcoin prices are likely to fall further on fundamental and technical factors and this is what we saw for the first half of the day yesterday.
- We have been asking our readers to maintain an eye on the dollar prices as well as the bitcoin prices, like that of every other currency, are expressed as a combination of the prices of bitcoin and the dollar.
- It is very convenient for many of the traders to focus just on the bitcoin aspect of this combination and lose sight of the equally important currency in the dollar.
- It is very important that the trader has an eye on the relative strength of the dollar as well so that he can trade the bitcoin prices accordingly.
- With the dollar expected to continue to weaken in the short term, we should see the bitcoin prices move higher and continue the bullish trend that we are likely to see in the cryptocurrency industry in the days and the weeks to come.
We had mentioned in our forecast yesterday that the bitcoin prices are likely to fall further on fundamental and technical factors and this is what we saw for the first half of the day yesterday. But this was soon followed by a recovery in the prices which has since pushed the prices steadily higher
Continue reading “Bitcoin Price Forecast – Focus on the Dollar”
- Those behind the recent cyberattack affecting businesses around Europe have successful received a total of nearly 4 bitcoins, worth around $9621 at today’s price.
- On Tuesday, reports emerged of a ransomware virus affecting businesses and governments throughout Eastern Europe.
- The malware, which has been identified as a modified version of the “Petya” virus, has also affected business in Western Europe, including Maersk, Merck and WPP.
- The virus locks users out of their computer and demands a ransom of $300 paid in Bitcoin.
Those behind the cyberattack affecting Europe have only succeeded in receiving a total of nearly 4 bitcoins, worth just $9621.
Continue reading “Hackers have made just 3.7 bitcoin – or less than $10,000 – with the latest cyberattack”