• Latest
Bitcoin Has Erased Over 45% of 2019 Sell-Off in Just 7 Weeks

Bitcoin Has Erased Over 45% of 2019 Sell-Off in Just 7 Weeks

February 7, 2020
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Ethereum

Bitcoin Has Erased Over 45% of 2019 Sell-Off in Just 7 Weeks

coinnewsdaily by coinnewsdaily
February 7, 2020
in Ethereum
0
Bitcoin Has Erased Over 45% of 2019 Sell-Off in Just 7 Weeks
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022

Bitcoin is continuing to pile on the gains.

The number one cryptocurrency by market value rose to a three-month high of $9,859 during the U.S. trading hours on Thursday and was last seen trading at $9,801, according to CoinDesk’s Bitcoin Price Index.

With the surge to multi-month highs,
bitcoin has recovered a significant portion of the ground lost in the second
half of 2019.

Bitcoin’s bull move from the April 2019 low of $4,100 topped out at $13,880 at the end of June. The bears seized control in July and ended up pushing prices to below $7,000 by the end of November.

December, therefore, began on a negative note with prominent analysts calling for a deeper drop to $6,000 or below on miner selling of the digital asset.

The decline, however, was cut short
at the seven-month low of $6,425 on Dec. 18. Since then, the cryptocurrency has
risen sharply by more than $3,300.

The speed of the ascent has been impressive – nearly 46 percent of the decline from $13,880 to $6,425 seen in the 25 weeks to Dec. 18 has been reversed in just seven weeks.

With the bulls in control and momentum looking quite strong, the cryptocurrency could soon rise into five figures.

The daily chart looks constructive with the cryptocurrency printing bullish higher highs and higher lows with each passing week.

Confirming the uptrend are the ascending 5- and 10-day moving averages (MAs) and a bullish crossover of the 50- and 100-day MAs. The MACD histogram, meanwhile, is printing higher bars above the zero line, indicating a strengthening of bullish momentum.

Importantly, the market is showing no signs of bull fatigue. The 14-day relative strength index is yet to cross into overbought territory above 70 and the cryptocurrency continues to print solid green candles with small wicks, a sign there is no hesitation among buyers while pushing prices higher.

So, the odds appear stacked in favor of a rise to the October high of $10,350. Pullbacks, if any, could find take the support of the ascending 5- and 10-day MAs located at $9,526 and $9,445, respectively.

Bitcoin has faced rejection near $9,850 two times in the last 24 hours. Another failure might see some buyers opting to take their profits, leading to a minor price pullback to $9,635 (horizontal support line). Acceptance below that level might bring in deeper losses toward $9,500.

Disclosure: The author does not currently hold any digital assets.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.



Credit: Source link

Tags: Ethereum
Share76Tweet47
Previous Post

Coronavirus Concerns Cause Another Crypto Event to Be Postponed

Next Post

Fearing ‘Currency Struggle,’ Japanese Politicians Want G7 Response to China’s Digital Yuan

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
things you should know before investing in nfts
Alt Coin

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum
Alt Coin

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
btc and eth will break all time highs in 2022 — celsius ceo
Bitcoin

BTC and ETH will break all-time highs in 2022 — Celsius CEO

April 21, 2022
Load More
Next Post
Fearing ‘Currency Struggle,’ Japanese Politicians Want G7 Response to China’s Digital Yuan

Fearing 'Currency Struggle,' Japanese Politicians Want G7 Response to China's Digital Yuan

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$19,250.17-0.78%
  • ethereumEthereum(ETH)$1,049.17-0.55%
  • tetherTether(USDT)$1.000.03%
  • binancecoinBNB(BNB)$216.79-0.85%
  • cardanoCardano(ADA)$0.449791-0.42%
  • rippleXRP(XRP)$0.314060-0.10%
  • SolanaSolana(SOL)$32.57-0.22%
  • dogecoinDogecoin(DOGE)$0.0667362.97%
  • polkadotPolkadot(DOT)$6.74-0.45%
  • daiDai(DAI)$1.00-0.17%
  • tronTRON(TRX)$0.0651020.45%
  • Shiba InuShiba Inu(SHIB)$0.000010-0.49%
  • leo-tokenLEO Token(LEO)$5.74-7.02%
  • matic-networkPolygon(MATIC)$0.458760-2.30%
  • litecoinLitecoin(LTC)$51.21-3.38%
  • FTXFTX(FTT)$24.45-0.06%
  • OKBOKB(OKB)$12.07-0.20%
  • chainlinkChainlink(LINK)$6.120.02%
  • CronosCronos(CRO)$0.111881-1.01%
  • stellarStellar(XLM)$0.107914-1.56%
  • cosmosCosmos Hub(ATOM)$8.158.02%
  • moneroMonero(XMR)$118.486.04%
  • algorandAlgorand(ALGO)$0.3051320.31%
  • ethereum-classicEthereum Classic(ETC)$14.560.13%
  • bitcoin-cashBitcoin Cash(BCH)$102.021.35%
  • vechainVeChain(VET)$0.0222580.96%
  • tezosTezos(XTZ)$1.425.57%
  • Internet ComputerInternet Computer(ICP)$5.210.97%
  • filecoinFilecoin(FIL)$5.290.58%
  • theta-tokenTheta Network(THETA)$1.160.50%
  • ElrondElrond(EGLD)$50.010.93%
  • bitcoin-cash-svBitcoin SV(BSV)$51.83-2.52%
  • eosEOS(EOS)$0.910.53%
  • paxos-standardPax Dollar(USDP)$1.000.19%
  • makerMaker(MKR)$886.361.48%
  • AaveAave(AAVE)$56.511.38%
  • iotaIOTA(MIOTA)$0.2640181.35%
  • huobi-tokenHuobi(HT)$4.31-9.21%
  • zcashZcash(ZEC)$53.111.41%
  • basic-attention-tokenBasic Attention(BAT)$0.4085105.61%
  • neoNEO(NEO)$8.18-0.61%
  • zilliqaZilliqa(ZIL)$0.0391804.31%
  • havvenSynthetix Network(SNX)$2.346.64%
  • wavesWaves(WAVES)$5.143.14%
  • dashDash(DASH)$41.330.68%
  • KusamaKusama(KSM)$48.002.74%
  • PancakeSwapPancakeSwap(CAKE)$2.98-1.65%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • nemNEM(XEM)$0.0387023.28%
  • ethlendAave [OLD](LEND)$4.103.48%
  • CompoundCompound(COMP)$46.260.74%
  • qtumQtum(QTUM)$2.760.94%
  • bitcoin-goldBitcoin Gold(BTG)$15.261.75%
  • omisegoOMG Network(OMG)$1.791.63%
  • golemGolem(GLM)$0.2266191.23%
  • ontologyOntology(ONT)$0.2354836.55%
  • SushiSushi(SUSHI)$0.960.12%
  • yearn-financeyearn.finance(YFI)$5,347.272.17%
  • umaUMA(UMA)$2.491.73%
  • digibyteDigiByte(DGB)$0.0091212.62%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....