Tags : Outlook

Bitcoin

Macau casino investor bets on Bitcoin (BTC) amidst a bleak

Chinese publicly listed firm Success Universe Group Ltd, which is a major investor in Macau-based casino and hotel resort Ponte 16, announced that it has purchased 24.3 Bitcoin ($1.35 million currently) as part of its portfolio diversification strategy, Inside Asian Gaming reported today. “In recent times, the Board observed increasing popularity of cryptocurrencies in the […]Read More

Bitcoin

Bitcoin Weekly Outlook: Breakout Over $60K Expected on Coinbase Listing

Key Bitcoin Takeaways Bitcoin flirts with $60,000 for a breakout move. The cryptocurrency is trending inside a classically bullish ‘Ascending Triangle’ pattern. Coinbase’s listing on Nasdaq, US inflation data update this week promises further upside. Bitcoin has endured significant selling pressure over the last few trading sessions as it attempts to close above $60,000. The […]Read More

Bitcoin

Bitcoin Weekly Outlook: Milder Swings Expected Around FOMC Minutes

Bitcoin (BTC/USD) is paring a portion of its recent gains entering the new weekly session, trading just a little over $57,000 after breaching $60,000 last week. Bitcoin bullish bias weakens near $60,000. Source: BTCUSD on TradingView.com Investors have shifted their focus on the minutes from the Federal Reserve’s March meeting, coming out Wednesday in a […]Read More

Bitcoin

Bitcoin Weekly Outlook: Crucial Support Promises $60,000-Breakout

Key Bitcoin Takeaways Bitcoin prices edged lower during the weekend session amid choppy sentiment. The cryptocurrency remained resilient to aggressive bullish moves against a firmer US dollar and Treasury yields. Nevertheless, it holds above crucial technical support, eyeing a breakout above $60,000. Bitcoin underwent a minor sell-off during the weekend session but held above a […]Read More

Bitcoin

Bitcoin Weekly Outlook: India Ban Scare, FOMC Meeting in Focus

Key Bitcoin Takeaways Bitcoin slipped on Monday after logging a record high above $61,000 during the weekend session. Fears of a crypto ban in India and recovering US dollar and bond yields pressured the cryptocurrency. More clues about the market bias to come from this week’s Federal Open Market Committee’s meeting. Bitcoin fell more than […]Read More

Bitcoin

Bitcoin Weekly Outlook: Yields Continue to Pressure BTC/USD Downwards

Key Bitcoin Takeaways: Bitcoin posts strong recovery during the weekend session but looks weaker at the new week’s beginning. MicroStrategy’s relentless accumulation of the cryptocurrency and the US government’s additional stimulus package provide tailwinds to the price rally. Meanwhile, upbeat long-term Treasury yields weaken Bitcoin’s appeal. The bitcoin price retraced from its upside weekend session […]Read More

Bitcoin

Bitcoin Weekly Outlook: T-Bonds Threaten Crucial BTC/USD Support

Key Bitcoin Takeaways: Bitcoin fell wildly last week as the US dollar capitalized on rising Treasury bond yields. Nonetheless, dip-buying sentiment near a technical support level kept the cryptocurrency’s bullish bias intact. A further rise in yields could have bears test the support area for a breakdown. The BTC/USD exchange rate logged a sharp rebound […]Read More

Bitcoin

Economist paints woeful outlook if Bitcoin were to ever succeed

London School of Economics teacher Jon Danielsson argues that Bitcoin and fiat currency cannot co-exist. Danielsson claims the concept of Bitcoin as money makes no sense. What’s more, should it ever succeed, he envisions a world of great inequality which, as he alludes to, is contrary to its egalitarian principle. “Fortunately, the more successful bitcoin […]Read More

Bitcoin

Bitcoin Weekly Outlook: Overbought Fears Persist Despite Corporate Boom

Key Bitcoin Takeaways Bitcoin bloomed higher last week despite weaker demand for safe-haven assets against a prosperous US economic outlook. The cryptocurrency’s upward move came as a part of its quarterly bullish trend as traders raised their BTC/USD bids against a flurry of corporate adoption news. Nonetheless, bitcoin has turned into an overbought asset that […]Read More

Bitcoin

Bitcoin Weekly Outlook: A Technical Damage Underway

Bitcoin eased on Monday after posting an incredible weekend rally that took its prices to another lifetime high. The flagship cryptocurrency fell by up to 7.75 percent from its record peak of $49,700, underscoring repeated sell-off attempts as the price eyes a close above $50,000, a psychological upside target. Meanwhile, support near the $45,500-level kept […]Read More