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Large Bitcoin Corrections Do Not End Bull Rally: Former Google Engineer

Several market analysts anticipated an extended massive downside correction in the Bitcoin market after the asset surged by more than 235 percent in the second quarter of 2019. Seasoned trader Peter Brandt said on May 27 that he expects a majority of sold-out bulls to capitulate. Market analyst Walter Wyckoff too predicted bitcoin at $5,800 soon,…

Bitcoin Price Now 30% Down from 2019 High

The price of bitcoin on Tuesday was almost 30 percent down from its year-to-date peak of $13,868.44. The BTC/USD exchange rate established a new intraday low at $9822.59, down 9.46 percent according to CoinStats’ cryptocurrency portfolio management app. The move downward brought the bitcoin’s market capitalization to circa $174.15 billion. At its 30-day high, the…

US Stockbroker Puts Gold above Bitcoin against Gloomy US Economy

Rival assets bitcoin and gold are rising in tandem against a weaker US dollar. But, according to Peter Schiff of Euro Pacific Capital Inc., gold has a better probability of holding its gains. The chief global strategist said on Monday that gold is rising as a haven asset, while bitcoin is merely behaving like a speculative…

Analysis: Its ​Do or Die for Stellar (XLM) Bulls Now

Stellar (XLM) has plunged 3.68 percent against the US dollar in the previous 24 hours, according to CoinStats’s cryptocurrency tracker. The XLM/USD instrument on Monday settled an intraday low of $0.105 while continuing one of its most extended downtrend cycles. The move brought the pair about 15 percent down on a weekly timeframe. Meanwhile, the…

Tron Weaker in Dollar Markets, Better against Bitcoin

The price of Tron (TRX) has plunged by more than 4 percent in the last 24 hours, according to CoinStats’ cryptocurrency portfolio management tracker. The TRX/USD pair on Monday dropped to an intraday low of $0.032 before attempting a pullback. The move downhill extended the pair’s weekly loss to 10.79 percent, hinting that traders looked…

Analysis: Bitcoin Price Expects to Rise on Monday

The price of bitcoin has gone down by 8.27 percent in the previous twenty-four hours, according to data provided CoinStats’ crypto portfolio tracker. The BTC/USD instrument on Monday fell as low as $10,866.9 during the early Asian session. The pair later attempted a small upside recovery but that, too, came on low volumes. The move…

Craig Wright Cannot Prove He Created Bitcoin

Whether or not Craig Wright is the original creator of bitcoin would remain a mystery. The Australian scientist today appeared in a federal court hearing in West Palm Beach, Florida, defending himself against accusations that he stole bitcoins and intellectual property from a deceased business colleague. The case could potentially help determine whether or not…

Bitcoin Assisted Criminals in Laundering More than $1.12 Million

The Civil Guard has arrested 35 people and is investigating 22 more in Spain for defrauding credit card users and laundering money through bitcoin. According to the Commandary of Alicante, the accused siphoned off €600,000 (about $676.2 million) in a total of 1,020 crimes related to telematic scams. The organization obtained its victims’ credit card information…

Bitcoin can Stabilize Between $10K and $14K: Mike Novogratz

Bitcoin’s meteoric rise this week has hit a wall in the past 36 hours as it dropped from a circa $14,000 high to as low as $10,693. But according to Mike Novogratz of Galaxy Digital, the cryptocurrency would not fall anywhere below the $10,000 level. The founder told CNBC on Thursday that bitcoin could enter…

Bitcoin Correction Leads to Massive $50 Billion Crypto Wipeout

The price of bitcoin is down 5.32 percent on a 24-hour adjusted timeline, but its correction bias is shaking sentiments across the rest of the cryptocurrency market. Following the bitcoin’s slippage to the lower $12,000 level, the total cryptocurrency market capitalization wiped off more than $50 billion in a matter of 12 hours. Leading the…