Cryptocurrency Market Continues to Fall, Bitcoin Support Likely at $6,700

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. On previous reports, CCN emphasized that the price of bitcoin will likely fall to the higher end of the $6,000 region in the short-term. Over the past 24 hours, the bitcoin price has dropped by 2.5 percent, from $7,580 to $7,350, dipping below the $7,300 mark at one point. Lack of Momentum Throughout 2018, the bitcoin price has experienced three major corrections on February 7, April 10, and May 25. The initial correction that occurred on February…

Bitcoin Price Weekly Analysis: Can BTC/USD Hold $7K?

Key Points Bitcoin price remained in a bearish zone above the $7,000 support against the US Dollar. There is a key declining channel forming with resistance at $7,600 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair has to stay above the $7,200 and $7,000 support levels to avoid a major downside break. Bitcoin price is trading well below the $7,600 pivot level against the US Dollar. If BTC/USD breaks the $7,000-7,200 support, there could be heavy declines. Bitcoin Price Decline This past week, there…

Ethereum Price Weekly Analysis: ETH/USD Approaching Crucial Break

Key Highlights ETH price settled below the $600 support level with negative signs against the US Dollar. There is a crucial contracting triangle forming with current support at $580 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair may well make the next move either above $600 or below $580 in the near term. Ethereum price is struggling to recover versus the US Dollar and Bitcoin. ETH/USD is now approaching a crucial break, possibly higher if buyers gain control. Ethereum Price Trend There were heavy losses in…

Bitcoin Cash Price Weekly Analysis: BCH/USD’s Downtrend Intact

Key Points Bitcoin cash price remained under pressure and declined below the $1,000 support against the US Dollar. There is a monster bearish trend line in place with resistance near $1,060 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is likely to decline further and it could even break the last swing low of $948 in the near term. Bitcoin cash price is in a bearish trend below $1,080 against the US Dollar. BCH/USD remains at a risk of more declines towards the $920…

Cryptocurrency Market on a Continuous Decline, No Major Movements on the Upside

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Over the past hour, the bitcoin price has increased by 1.4 percent, from $7,410 to $7,550, after recording a sudden spike in buy volume, as shown below in the 30-minute chart of bitcoin below. Cryptocurrency market has also moved up slightly but has struggled to record any major movement. Bitcoin to $6,000 While several bulls including Wall Street firm Fundstrat founder Tom Lee and John McAfee have expressed their optimistic in regards to the short-term growth of…

Bitcoin Cash (BCH) Price Technical Analysis (May 26, 2018)

Fundamentals and development of Bitcoin Cash is not a problem. The issue we all have is the failure of price,-value-to reflect the effort of the community. Not only do we have a robust network that can scale and settle transactions faster, there is wide adoption of the coin from different payment providers and merchants. As it is, Bitcoin Cash is down 14 percent for the week and two percent in the last 24 hours but these metrics would widen should there be a dip past $930 or May 24 lows.…

EOS, Tron, IOTA, Litecoin and Stellar Price Analysis (May 26, 2018)

Statistics show that alt coin prices are within range and oscillating within May 24 high low. That’s including Tron which had an important fundamental event yesterday. The TVM is but a non issue and whether this is a calculation and a soak of sells/buy, the chart will show. In the mean time though, most coins as IOTA and EOS are within strong support that can either make or break them today. Any convincing evidence of trend resumption would necessitate initiation of trades according to the direction of the break out.…

Bitcoin Price Drop From $20,000 Likely Due to Market Manipulation

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Since December 17, the bitcoin price has been on a continuous decline, falling from $19,900 to $5,980 at its yearly low. While the bitcoin price has seen two mid-term recoveries and corrective rallies, both failed to test two major support levels at $12,000 and $10,000. Market Manipulation Theory Recently, a group of cryptocurrency researchers and traders suggested that the bitcoin price has began to fall from its all-time high at around $20,000, on the same day the…

Bitcoin Gold Responds to Recent Double Spend Attack

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The development team behind Bitcoin Gold has released an update on last week’s 51 percent attack, which the attacker weaponized through a double spend attack to steal funds from cryptocurrency exchanges. Published on Thursday, the update confirmed that the attacker had gained majority control of the network’s hashrate and used that control to reorganize the blockchain and reverse transactions. In this case, the attacker made deposits at cryptocurrency exchanges, traded the coins for BTC or another coin,…

Cryptocurrency Market Slightly Recovers But Bitcoin Downward Trend is Still Strong

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. As CCN reported yesterday, on May 24, the bitcoin price dipped below $7,250 as a massive sell-off from the $7,700 mark intensified. After three consecutive sell-offs within a 24-hour period, the price of bitcoin dropped from $7,900 to $7,250, eventually stabilizing at $7,400. Bear Market The cryptocurrency sector is in a short-term bear cycle. In a highly volatile period like this, positive developments and events that would otherwise lead to a significant surge in the valuation of…