Bitcoin is at a critical support level
During Friday, Bitcoin dropped to or even through its critical support level at around $6000, which it reached on the 6th of February earlier this year as seen in the weekly chart below. What does that mean now? Nothing good. But that doesn’t necessarily mean that it will drop more severely if it penetrates the […]
Cryptocurrencies explode into a bubble
During the last month the market cap of all cryptocurrencies exploded by a factor of three and since the beginning of this year it shot up almost tenfold. This is a digital ten bagger! What is a cryptocurrency or a coin? It is a form of digital “money”. Bitcoin was the first coin and others […]
Bitcoin’s strange dance near its all-time high
Bitcoin is nearing its all-time high again and everyone in the cryptocurrency markets is wondering what is going on here… The daily chart shows the erratic reaction to the SEC decision to disapprove the ETF of the Winklevoss twins. After that, the price came back astonishingly for a few days, but fell again to new […]
Bitcoin ETF damned by the SEC
The SEC has finally decided against the proposed rule change that would have allowed the Winklevoss ETF to be listed and traded on the BATS exchange. The chart shows an early spike on misinterpreted news setting a new all-time high and demonstrating the fear of some bitcoin traders to miss the wave, and later the […]
Bitcoin finally made a new all-time high
During the last hours bitcoin advanced through the magic line of about $1170, its all-time high from more than 3 years ago. The chart of the last 35 days shows a bumpy ride with the first attempt to crack the all-time high crippled by the Chinese central bank and its actions to torpedo bitcoin trading […]
Bitcoin’s rally imploded – for now
During the last hours bitcoin crashed more than 20% shortly before making a new all-time high against the dollar. The vehement move suggests that the recent rally was driven by short-term oriented traders and not by long-term investors who anticipated a new bull run after clearing the all-time high. Overall, that is a less bullish […]
Bitcoin nears all-time high
Bitcoin, the amazing cryptocurrency, has advanced over the last days. Currently it trades around $900 with the all-time high of almost $1200 in sight. The all-time high of BTC/EUR is even more close, because of the decline of the euro against the dollar. As usual, many explanations are circling around. Some have to do with […]
