Why Bitcoin won’t bounce back

Why Bitcoin won’t bounce back

This week everyone followed the rates passionately, being ready to either buy or sell (or hodl :-) quickly. Also, cryptoad is back, as well as those crypto folks, who were believed long lost. Redditors discussed everything and we tracked it down

  • Welcome back Ross! Ross Ulbricht — Silk Road owner:

Hi, this is Ross! I’m hoping to find my voice here after all these years of silence. It has been a strange journey, but I’m so grateful for all those who’ve shown love and support and held me up through the hard times. You give me strength.

Ross Ulbricht, Silk Road owner

Is it really him? Redditors try to figure it out, join!

  • The revolution will not be televised. Discussion with this topic fell under the censorship of sabreddit r/btc, but continues to recruit upvotes and comments. Hurry up while it's still there!

Bitcoin

BTC
Price
8,744 USD -5.52%
Volume, 24h
3,497,717,274 USD
0.00%
Marketcap
153,922,072,217 USD
56%
Emission
84%

Related news

Social Media Earnings: Facebook And Twitter Prepare To Share

Earnings are in full swing this week and technology investors who hold any of the nation's major social-media companies are likely preparing for a hectic few days. Facebook Inc. (NASDAQ: FB) and Twitter Inc (NYSE: TWTR), two platforms on which millions of investors and non-investors alike share their memories, gripes and sometimes everyday mundane doings through posts and tweets, are opening their books this week. Both social-media giants reported double-digit revenue growth in Q1 as their active users numbers climbed, helping to rev up advertising dollars. FB is at the top of the mountain in both users and ad revenue, and TWTR looks to be holding its own, but on a smaller scale. Have the companies been able to keep up the momentum in Q2? If their stock prices are any indication, it appears investors at least are keeping the faith. FB has been among the top tech guns elevating the S&P 500’s (SPX) climbs to fresh peaks — FB stock represents 1.9% of the index and is up some 50% since the beginning of the year. TWTR’s path has been a bit wobbly, but it has still managed to clock about a 28% increase. Analysts watching FB say they will be looking for solid upticks in all the numbers and updates on a potential $5 billion fine for FB from the Federal Trade Commission. For TWTR, analysts may be looking at how TWTR says it’s monitoring those who violate the site’s community standards rules. There’s a lot of focus on potential regulatory issues, and a key thing to consider is that companies under a government shadow might see less of a potential bullish response if their earnings beat. Even if FB and TWTR have killer earnings, the fact that they’re in the cross-hairs could limit gains for their stocks. That dynamic arguably played out last week when Johnson & Johnson (NYSE: JNJ)—the subject of a Justice Department probe—didn’t get much lift despite an impressive earnings performance across the entire company.  FB’s Regulatory Fines FB is expected to move the conversation “away from putting out privacy fires and back toward innovation,” Barclays analyst Ross Sandler told MarketWatch. He said he will be looking for signs, for example, that advertisers are beginning to embrace FB’s “Stories” format—an Instagram copycat layout launched last September as a means of stepping up engagement between users and advertisers. There are also a number of issues investors might be interested in hearing updates about, a few of ...Full story available on Benzinga.com
Benzinga

Bitcoin Price at $10,000 is in Danger As Bulls Begin to Lose Support

Bitcoin has been struggling to regain the bullish momentum its enjoyed for the bulk of 2019. Ever since December 2018 when Bitcoin price bottomed, it has mostly been on an upward ascent until it met former bear market resistance at $13,800 and it resulted in a nasty rejection and flash crash that put the entire parabolic rally on ice. Today, Bitcoin price dipped below $10,000 after bull lost daily and weekly support at around $10,185 but paused briefly at $9,800 before falling any lower. Will Bitcoin bull reclaim $10,185 and make an attempt higher? Or will $9,800 break and see a restest of lows around $9,200, and possibly even lower in the coming days ahead? Bitcoin Price Struggles to Maintain Support at $10,000, Bulls Losing Strength to Bears Bitcoin bulls have been not only breathing a sigh of relief now that Bitcoin is once again in the five-digit territory – a far cry away from its bear market lows around $3,000, that put real panic in the hearts of crypto traders and investors who feared the worst was ahead. But Bitcoin bounced, and it brought the first-ever crypto-asset well above $10,000 to $13,800 where it was rejected by former bear market resistance and has struggled ever since to make another attempt at breaking above it. Now, Bitcoin is struggling to even maintain $10,000, the important resistance that was supposed to act as a FOMO trigger taking the crypto asset to new highs. It did incite some FOMO, but not enough to get Bitcoin to revisit its previous all-time high of $20,000 it set back in December 2017. Will Bulls or Bears With the Battle for BTC and Its Short Term Trend Future Most are in the long-term extremely bullish on Bitcoin. Many expect the crypto asset to eventually reach prices of $100,000 to as much as a million per BTC. But irrational exuberance also permeates throughout the crypto industry, and crypto enthusiasts often let their imagination and speculation get the best of them. Clearly, Bitcoin is at an impasse in terms of trading, and whichever direction is finally chosen could set the trend for the short- and medium-term. $BTC looks to be creating lower-highs and lower-lows on the daily chart Marked are the open and support areas based on the weekly chart with previous support possibly flipping to resistance If confirmed, watching the next weekly support at $8975 as a potential target pic.twitter.com/yG2WO2yrzX — Josh Rager (@Josh_Rager) July 23, 2019 If Bitcoin were to break below $10,000 with strength, taking out $9900 and $9800, a retest of where it bounced in recent days at $9,200 would be retested, as well as potential weekly support at just under $9,000. If Bitcoin can reclaim weekly support turned resistance at $10,200, it could make a run toward $10,500 or higher, where the weekly candle opened on Sunday night. A break above that could have Bitcoin trying for $11,000 or retrying to incite a bull run above where the major rejection happened. Related Reading | Regulatory Pressure Amidst Libra Crypto Controversy Hasn’t Shaken BTC Bulls  These are critical times for crypto, and while that’s commonly said in the past, the latest regulatory pressure has changed the market dynamics and could create an environment for real fear and panic in the coming days, which would surely have a strong effect on Bitcoin price. Featured image from Shutterstock Bitcoin Price at $10,000 is in Danger As Bulls Begin to Lose Support was last modified: July 23rd, 2019 by Tony SpilotroThe post Bitcoin Price at $10,000 is in Danger As Bulls Begin to Lose Support appeared first on NewsBTC.
NewsBTC

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.