Black Thursday

Bitcoin sells off at $9,900 after printing three consecutive winning sessions.The cryptocurrency’s latest move serves as a reminder of its price action before the “Black Thursday” crash.The fractal’s validation risks extending Bitcoin’s downside correction towards its long-term moving average.Bitcoin’s three-day winning streak came to an abrupt end on Friday as…

Bitcoin (BTC) has been labeled as an “uncorrelated asset” since BTC is not directly connected to global GDP, company, revenues, profits (P/E ratios), dividends, and instead, relies on the network effect. For those reasons, the million dollar question is… What are the factors that impact Bitcoin’s price the most and why?The…

About a third of Bitcoin (BTC) mining firms may already be switching off their machines as the business becomes unprofitable due to a reduction in mining rewards.The third Bitcoin halving – consummated earlier today – reduced supply of the pioneering cryptocurrency, cutting the bonus paid to miners for solving mathematical…

opinionColin Harper Guest columnistPublished 2:46 PM EDT May 11, 2020Google “the Cantillon Effect.” Now google the Federal Reserve’s balance sheet.This is how your purchasing power is being stolen from you.The Cantillon Effect describes how money can flow disproportionately through an economy. Those closest to a money’s “injection point” have first…

Tomorrow’s halving helped Bitcoin price make another strong push to $10,000, but the first-ever cryptocurrency failed to breach the key level.However, according to the structure of a massive rising wedge, there may be yet another wave up to nearly $11,000 before a correction and pullback ensue.Started From the Bottom: Bitcoin…

AP PhotoThousands of unemployed people are gathered in a food line in Times Square during the Great Depression. The coronavirus pandemic has devastated the US economy, and unemployment levels have spiked to the highest levels since the Great Depression. The April jobs report showed the unemployment rate spiked to 14.7%.…

Normally, little is unexpected concerning the regular, pre-programmed adjustment of the Bitcoin network’s mining reward size, otherwise known as halving. Baked into the digital currency’s original protocol, the anti-inflationary mechanism gets triggered once every 210,000 blocks mined — or roughly every four years — providing all the interested parties with…

Few expected the crypto market crash that transpired yesterday. At times, Bitcoin was so volatile that the services of leading cryptocurrency exchange Coinbase temporarily went down, their status page suggests. No group felt the volatility as much as traders, which are especially vulnerable drops due to their utilization of leverage.…

Ravaged by crippling hyperinflation, Iran’s Parliament has sanctioned the redenomination of its fiat — the rial — by replacing it with a new currency called the toman. According to the plan, each toman will be worth 10,000 rials.The redenomination plan effectively removes four place values (four zeros) from the Iranian…

With only 2 days left until the block reward halving Bitcoin (BTC) reached $10,000 for the second time in 24-hours. Data from Cointelegraph Markets and CoinMarketCap shows the largest digital asset by market capitalization is struggling to stay above the $10K handle.Crypto market weekly price chart. Source: Coin360A few hours…