Bitcoin is approaching the critical $6,800 level of resistance after surging by more than 15% in the past 24 hours.

The tremendous move to the upside will come as a surprise to the majority of Bitcoin traders, many of whom have been suggesting that a continued correction to the $3,000 region was on the cards.

Bitcoin isnt out of the woods just yet, it needs to demonstrate strength by closing this evenings daily candle above $6,800, which became a point of rejection on Friday.

After failing to achieve a new high on Friday, Bitcoin proceeded to plunge by around 20% to the $5,700 before enjoying a period of consolidation.

Its worth noting that the daily MACD indicator has printed a bullish cross for the first time since it crossed to the downside on 15th February, which marked the local top at $10,500.

A clear breakout above $6,800 would bring price targets of $7,400 and $7,880 into the picture, although Bitcoin will also likely test the daily 200MA which is at $8,330.

Another rejection from this point would be a miserable turn of events for Bitcoin bulls as it indicates that an extension of this short-term bear market is certainly on the cards.

Bearish momentum in light of a rejection from resistance could well result in an initial move to the $5,700 region before it tests this months lows of $3,600 and $4,000.

For more news, guides and cryptocurrency analysis, click here.

Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents:

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In August 2008, the domain name bitcoin.orgwas registered. On 31st October 2008, a paper was published called Bitcoin: A Peer-to-Peer Electronic Cash System. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are.

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The paper outlined a method of using a P2P network for electronic transactions without relying on trust. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number 0 (or the genesis block), which had a reward of 50 Bitcoins.

If you want to find out more information about Bitcoin orcryptocurrenciesin general, then use the search box at the top of this page.Heres an article to get you started.

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice.

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Bitcoin on the brink of major breakout above $6,800 - Yahoo Finance

Coronavirus COVID-19 has spread around the world with cases reported in almost every countrybut its wildfire advance has been outpaced only by its contagion on social media.

Coronavirus information, a toxic blend of truths and lies, is running rampant on Facebook, Twitter, WhatsApp and Instagram shared through memes, doctored screenshots and dodgy links.

Meanwhile, the economic ramifications of a coronavirus-induced shut down have triggered a surge of interest in scarce digital assets like bitcoin, with many aghast at central bank and Federal Reserve plans to flood countries with never-before-seen levels of freshly-minted cash.

Interest in bitcoin has been boosted by the spreading coronavirus COVID-19, with social media ... [+] playing a major role in how people are reacting to the disease.

Since the coronavirus COVID-19 first hit the headlines in early 2020, misleading and outright wrong information has been shared digitally but from February there has been explosion of coronavirus-related fake news.

The likes of Facebook, Instagram and Twitter have tried to stem the flow but on Facebook-owned WhatsApp and other end-to-end encrypted messaging services there's no way to measure the scale of infection or slow its spread.

WhatsApp has become a breeding ground for unsourced and false claims during the coronavirus COVID-19 crisis.

WhatsApp groups with member counts stretching into the hundreds receive forwarded messages from other massive groups, from digitally-infantile seniors and from panicked teens alike.

Much of that misinformation is economicgrocery stores are closing, banks have run out of cash. But some accurate reports are so outrageous they would have appeared false to many as little as two weeks ago.

The Fed could mint not one but two $1 trillion coins. The U.K. government will pay 80% of wages. A global recession of record proportions is a near certainty and coming as soon as next month. Stock markets around the world lost trillions of dollars in value in a matter of hours.

This morning, the Fed promised an open-ended commitment to keep buying assets under its quantitative easing measureseffectively offering to buy the entire market if necessary.

As the COVID-19 crisis rolls on, with some forecasting lockdowns could last well into 2021, people are counting the cost of long-term business closures and unprecedented central bank stimulus.

"Extraordinary times require extraordinary action," Christine Lagarde, the president of the European Central Bank, said last week via Twitter. "There are no limits to our commitment to the euro."

"Theres an infinite amount of cash at the Federal Reserve," Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, told CBS over the weekend. "We will do whatever we need to do to make sure that theres enough cash in the banking system."

Internet denizens opposed to the Fed's record coronavirus COVID-19 stimulus have begun lampooning ... [+] central banks--with many claiming bitcoin to be the antidote to "infinite cash."

Similar comments have been made by other senior central bank and government officials, driving the popularity of the "money printer go brrr" meme and leaving many economists concerned over the long-term consequences of the extreme measures.

The measures put in place to dampen the economic effect of the coronavirus COVID-19 pandemic echo those brought in to offset the 2008 financial crisismeasures designed to make a potentially catastrophic short, sharp, shock milder but at the same time much longer.

In 2008, the Western world broadly decided it would rather spread pain over decades than try to absorb the direct loss of jobs, capital and economic output the crash brought.

The same choice is being made now, though the situation has changed.

Measures enacted in the aftermath of the global financial crisis remain in place, limiting policy-makers effectiveness. The world has become more globalized, hobbling individual government's ability to act. Social networks have digitalized and decentralized the media.

Perhaps most importantly, bitcoin, created in the midst of the last economic crash, has shown there is a possible alternative to the central bank-controlled debt-based economyan alternative that is yet to be truly tested, however.

The enthusiastic, seen by some as bordering on desperate, spending by governments and central banks has already pushed many toward bitcoin.

Up to now, gold has been known as the ultimate safe-haven asset, but bitcoinwhich shares its key characteristics of being a store of value and scarcitycould potentially dethrone gold in the future as the world becomes increasingly digitized," said Nigel Green, the chief executive of financial advisory group deVere.

Bitcoin searches on Google have risen sharply in recent weeks as the coronavirus crisis forces ... [+] central banks and governments into uncharted territory.

In China, the search engine Baidu has seen a rise in searches for "bitcoin"up 183% over the past thirty days, according to local reports.

Google searches for bitcoin spiked ahead of the traditional and crypto market crash, more than doubling from the start of the month.

Meanwhile, many bitcoin and crypto exchanges have reported a surge in users and trading volumes.

"Despite the market downturn, Binance.US is seeing unprecedented trading volumes, with especially active trading in bitcoin," said Catherine Coley, chief executive of Binance.US, part of the world's biggest bitcoin and crypto exchange, Binance.

"Bitcoins recent jump while the rest of the market tumbles proves that unlike traditional companies, bitcoin can and will survive without bailouts."

The bitcoin price, which plummeted along with almost everything else earlier this month, has rebounded even as stock markets around the world continue to fallunderscoring bitcoin's reputation as an uncorrelated asset.

The bitcoin price has lost all of its 2020 gains in recent weeks, falling back to around $6,000 per ... [+] bitcoin.

"Bitcoin will continue to be volatile over the next few months but the macro backdrop is why it was created," bitcoin advocate and founder of bitcoin and crypto hedge fund Galaxy Digital, Mike Novogratz, said via Twitter after warning just last week confidence in bitcoin has "evaporated" following its price crash.

"This will be and needs to be bitcoin's year," Novogratz added.

For better or worse, and regardless of whether such measures are justified by the coronavirus crisis, the Western world is heading for the largest crackdown on civil liberties it's ever seencoupled with the largest ever increase in the Federal Reserve's and central bank's balance sheets.

Bitcoin, a borderless and permissionless substitute to government-sanctioned fiat money, is going to be in high demand in the post-coronavirus world.

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Coronavirus COVID-19 Will Go Down In History As The Social Media And Bitcoin Pandemic - Forbes

Bitcoin is down more than 5% and it broke the $6,000 support against the US Dollar. BTC price is now showing bearish signs and it could continue to move down.

After a decent upward move, bitcoin struggled to gain momentum above the $6,500 resistance against the US Dollar. BTC price made a couple of attempts to settle above $6,500, but it failed.

As a result, there was a fresh decline below the $6,200 support and the 100 hourly simple moving average. The price gained bearish momentum and traded below the $6,000 support.

A new weekly low is formed near the $5,694 level and bitcoin is currently consolidating losses. It is trading above the 23.6% Fib retracement level of the recent decline from the $6,471 high to $5,694 low.

There are many hurdles on the upside, starting with the $6,000 level. The first major hurdle is near the $6,080 level and the 100 hourly simple moving average. The 50% Fib retracement level of the recent decline from the $6,471 high to $5,694 low is also near $6,080.

More importantly, there is a key contracting triangle forming with support near $5,780 on the hourly chart of the BTC/USD pair. To move into a positive zone, the price must clear the triangle resistance and $6,080.

Bitcoin Price

The next hurdle is near the $6,200 level, above which the bulls are likely to aim a retest of the key $6,500 resistance area in the near term.

If bitcoin fails to recover above the $6,000 and $6,080 resistance levels, it could continue to move down. An initial support is near the $5,800 and $5,780 levels.

A clear break below the triangle support and $5,700 may perhaps spark more downsides. The next support is near the $5,500 level, below which it could continue to move down towards $5,200 in the near term.

Technical indicators:

Hourly MACD The MACD is attempting a change in slope to the bullish zone.

Hourly RSI (Relative Strength Index) The RSI for BTC/USD is currently below the 50 level, with a bearish angle.

Major Support Levels $5,780 followed by $5,500.

Major Resistance Levels $6,000, $6,080 and $6,200.

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Bitcoin Just Reversed and Its Vulnerable To A Drop Towards $5,200 - newsBTC

The terrible situation facing the social and economic system on a global scale is bringing the financial markets to the brink of collapse. At this moment, it is impossible to predict when Wall Street will stop falling, as the charts have a verticality never seen before.

The technical indicators of the equity, bond and commodity markets have reached such extreme levels, the speed is so high, that supports are being easily drilled and entering worse and worse scenarios.

The impact on the cryptocurrency segment has also been devastating. The Top 3 components have lost the bullish scenario created after the long winter of 2018 and 2019 but avoided from falling into the worst-case scenario for the time being.

It is significant how, after the first wave of selling, Bitcoin, Ether and XRP are holding up the rate much better than other quoted markets.

The bullish reaction that started on Friday didn't have much of a run, as I explained in the morning article. Still, the price develops following technical price analysis theory and not driven by panic.

The day leaves us with an important fact from the structural point of view of the crypto board. Yesterday the ETH/BTC reached the SMA200 in the daily range, and today it is rising in green on this critical arithmetic average. In the medium and long term, this critical support must hold, and from this point on prices will take traction and develop the next uptrend.

The cryptocurrency market is still alive and now has the opportunity to stand out from the unhappy situation of other quoted markets.

The ETH/BTC pair is currently trading at 0.02108and is regaining the SMA support it lost on Saturday. The bearish consolidation structure could end later this week.

Above the current price, the first resistance level is at 0.022, then the second at 0.025 and the third one at 0.0268.

Below the current price, the first support level is at 0.021, then the second at 0.020 and the third one at 0.018.

The MACD on the daily chart shows a profile that is beginning to turn and points to a future upward cross, which does not necessarily imply a price rise but makes it much easier.

The DMI on the daily chart shows the bearish bears drilling down the ADX line, ending the previous bearish momentum. The bulls are not reacting at the moment, suggesting caution in the short term.

The BTC/USD pair is currently trading at $5815after touching $7000 late last week. The current structure is one of consolidation after the recent upward movement. BTC/USD is now in the middle of the ultra long-term bearish channel, equidistant between the moon and hell.

Above the current price, the first resistance level is at $5900, then the second at $6200 and the third one at $6500.

Below the current price, the first support level is at $5500, then the second at $5100 and the third one at $4900.

The MACD on the daily chart crossed up, a rare cross given the steepness of the fast-moving average. This type of crosses usually causes erratic movements in the short term.

The DMI on the daily chart shows that the bears are losing strength quickly, as fast as the bulls are reacting to the upward movement. The structure proposes a progressive improvement in the price structure.

The ETH/USD pair is currently trading at the price level of $122.5and shows a consolidation structure following recent increases. The short-term outlook shows an attraction at the confluence of the moving averages, at the price level of $180.

Above the current price, the first resistance level is at $130, then the second at $140 and the third one at $150.

Below the current price, the first support level is at $120, then the second at $115 and the third one at $120.

The MACD on the daily chart shows a bullish cross is currently taking place. The crypto market tone throughout the day may mark the evolution of Ether's price in the short and medium-term.

The DMI on the daily chart shows bears losing strength, although less so than in BTC/USD. The bulls are reacting bullishly, but still far from being able to challenge the bears for the lead.

The XRP/USD pair is currently trading at a price level of $0.1487XRP's setup is not as positive as its peers in the Top 3 cryptocurrencies, but technically it is consolidation after the upward movement.

Above the current price, the first resistance level is at $0.17, then the second at $0.19 and the third one at $0.20.

Below the current price, the first support level is at $0.14, then the second at $0.132and the third one at $0.128.

The MACD on the daily chart shows how, in the case of the XRP/USD, the bullish cross ends. The profile of the fast-moving average is aggressive, which can cause some turbulence.

The DMI on the daily chart shows the same technical structure as the Bitcoin or Ether. The current technical pattern usually develops with a bullish crossing attempt by the bulls, although this crossing is often not achieved on the first attempt.

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Top 3 Price Prediction Bitcoin, Ether, Ripple: Bullish bursts in the midst of the dark space - FXStreet

Source: Adobe/EwaStudio

Bitcoin's competitor, gold, found itself in a peculiar situation due to the current pandemic: it's getting increasingly difficult for it to move. Fears of stranded bullion led to London spot gold prices dropping far below U.S. gold futures.

Theres plenty of gold [...] But its immobilized, Reuters quotes an unnamed banker at a major gold-trading bank as saying.

While the U.S. Federal Reserve promised unlimited stimulus Monday, resulting in the jump in gold prices, there's still the issue of lockdown countries, closed refineries, air travel restrictions, shut down airports, and nobody to work on transferring the gold bullion where its needed. What's more, many dealers are worried to even try sending a shipment as it may potentially get stranded, says the Los Angeles Times.

And at the same time the Covid-19-related anxieties are leading people to gold as a safe haven, a question is raised if there's enough gold in New York City to deliver against futures contracts traded on the CME Group-operated Commodity Exchange, better known as Comex.

As of Monday, open interest in the April gold contract stood at 195,604 contracts, which equals to 19.6 million ounces, while the total deliverable stocks in Comex warehouses were 8.7 million ounces, reports the Los Angeles Times. On the other hand, writes Reuters, the price difference between London (the key storage and home to thousands of tonnes of gold for physical gold trading) spot gold and March futures on the Comex exchange was USD 42 on Tuesday, surpassing even USD 70 at one point, while they normally trade within a few dollars. Today (11:00 UTC), that difference is USD 12.

Gold price chart:

Bitcoin price chart:

Another issue is that Comex accepts 100-ounce bars, while there's not enough people in London to melt their 400-ounce ones to meet that requirement. The above-mentioned banker also stated that the difference between spot prices and U.S. futures will probably remain until refineries reopened and transport resumed, or Comex altered its rules to allow 400-ounce bars to be used to settle its contracts. The London Bullion Market Association (LBMA) and several major banks that trade gold have asked CME to allow these heavier gold bars to be used, in which case the metal wouldn't be altered and would stay in London's vaults, while the ownership would be transferred, reports Reuters, citing two sources involved in the discussions who find this would fix the problem.

Meanwhile, bitcoiners are responding to the situation, offering another solution.

Some have been thinking that, if there's lack of gold, goldbugs may turn to BTC. "Availability matters," writes user Zender, and in the absence of physical gold, "investors will see Bitcoin as an interesting alternative for a hard asset because of the 24/7 availability. Also the market will be a global, online one, while the physical market for gold will be very local." In case of hyperinflation, he argues, physical gold would not be an option for transactions, but there will likely be a digital currency backed by gold. "I find it hard to believe that this currency will not suffer the same faith and fall into FIAT again," he concludes.

___

Learn more: Do We Need Both Gold and Bitcoin?The Gold vs Bitcoin Debate: Anthony Pompliano vs Peter Schiff

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Gold Faces a Very Physical Problem; Bitcoin To the Rescue! - Cryptonews

Crypto trading giant Binance and privacy-focused Brave browser have collaborated on a new integration that allows Brave users to trade cryptocurrencies through Binance.

According to the announcement,

The new Binance widget in the new tab page of the Brave desktop browser makes Brave the only browser that offers integrated functionality for buying and trading cryptocurrency. With the Binance widget, Brave users can access the Binance.com and Binance.US (for US-based users) sites, buy and sell crypto assets, view asset balances, and obtain deposit addresses all without leaving the browser.

Says Binance CEO Changpeng Zhao,

The Binance widget on Braves privacy-oriented browser instills a safer way to buy and sell crypto and also reduces user friction to onboard, trade and interact with the Binance ecosystem.

The widget will allow Brave users to buy, deposit, trade and manage leading cryptocurrencies such as Bitcoin, Ethereum, XRP, Litecoin and other altcoins supported by Binance.

The Brave browser, which combines privacy with a blockchain-based digital advertising platform, has roughly 8.7 million monthly active users across the globe.

Unlike the dominant competitor Google Chrome, which tracks you and your browsing history, Brave blocks trackers, ads and third-party cookies, making it an attractive option, particularly for cryptocurrency users who support decentralized platforms, privacy protection and networking options beyond the control of big tech.

Featured Image: Shutterstock/Fstoppers

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Millions of Users Can Trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP on Brave Browser Through New Binance Integration - The Daily Hodl

Bitcoin price recently dropped by over 50%,after the fear of coronavirus started spreading around the world. The coin,which started seeing significant gains in the first two months of 2020,suddenly dropped from approximately $7,100 to $3,900, before seeing a recoveryto $5,500, where it remained for several days.

Earlier this week, Bitcoin once again startedto grow, presumably once again over fear, but this time, the fear was based onthe expected future of the US dollar.

The Fed announced that it is sitting on infinitecash, indicating that it is willing to provide as much money as possible toprovide short-term relief. This caused investors to start investing indifferent assets, including cryptocurrency and gold.

Meanwhile, in a recent televised interview with CNBC, a billionaire investor and a known Bitcoin bull, Mike Novogratz, stated that this is exactly the time for Bitcoin to rally. Novogratz addressed the situation regarding the economy and US and other governments decisions to take whatever steps necessary to boost the economy.

With central banks once again running amok,Novogratz believes that this is the time for Bitcoin to take its role as a safehaven and rally enough to attract investors, old or new.

Novogratz seems certain enough in hisprediction stating that: It needs to rally this year. If at the end ofthe year Bitcoins not a lot higher, Im going to scratch my head and say,Look, what the heck is going on?

At the same time, other crypto expertsprovided conflicting predictions, stating that it wouldnot be surprising if the coin went sub-$1,000 should the situation continue.Granted, such predictions were given prior to the Feds statement of sittingat an unlimited amount, which are believed to have caused a recent surge.

At the time of writing, Bitcoin price sits at $6,607, after seeing a 1.26% drop in the last 24 hours. The correction is currently rather mild, and it does not come as a surprise, considering that the coin grew by around $1,000 between March 23rd and March 25th.

Read more here:
Crypto bull Mike Novogratz says that this is the time for Bitcoin - iNVEZZ

There are a lot of different types of money; there are pounds, euros and dollars, there are bank notes and coins of all shapes and sizes. As though these arent hard enough to keep up with in general, the technological age has brought us a new kind of currency; cryptocurrencies such as Bitcoin. To say these have grown exponentially in popularity over the last few years would be an understatement- so many people are using this kind of currency now and there are a lot of reasons why. They are easier to keep a track of in some cases and their value can be very high at certain points. A lot of people know about cryptocurrencies, but there are still some well hidden secrets out there. These include automatic Bitcoin trading services, but what actually are these? Are they worth using? Read on to find out.

Check out a Bitcoin Trader AI App here.

Automatic Bitcoin traders are pretty easy to understand; they more or less mean you can sit back and relax while an artificial intelligence program will do all your trading for you. There are a variety of positive reasons as to why people might want to use these, including the fact that you wont have to do as much work on them yourself. Bitcoin can be a difficult currency to get to grips with over a short period of time and you might want to try and make some profits pretty quickly. For this reason, automatic services could be handy. You wont have to be an absolute expert in cryptocurrencies in order to make some money and instead, you can focus on other things going on in your life. You could come home from a nice day out with your friends and have made a healthy profit despite doing no work!

As you have probably guessed, however, there could be some downsides to these kinds of websites. As I already mentioned above, Bitcoin is really popular and because of that, there are plenty of websites out there that claim theyll automatically trade for you. If you arent careful, you could choose a dodgy site. Some sites are only there in the first place to try and scam you; theyll try and steal your personal details, for example, or you might even end up losing all of your hard earned Bitcoin. Because of this, you need to be really careful when youre choosing a service.

There are different ways to go about making sure you select a reliable automatic trading service. One of the best ways, in my opinion, is to check out some good review sites. There tend to be a fair few of these out there and they can be really helpful. Look for reviews that are written by independent parties who are neutral- chances are theyll have tried out a system themselves and will therefore have first hand knowledge as to how they work. Read as many as you can to try and gain a good idea of what sites are effective when used. Check out a Bitcoin Revolution App review here.

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Is it worth using an automatic Bitcoin trading services? | London Business News - London Loves Business