The zest with which the markets saw July end has not been reciprocated in the beginning of August. Bitcoin is down by 1% in the last 24 hours. GlobalBlock analyst Marcus Sotiriou says the reason for this might be because the markets anticipated bad news.
Traders watched in anticipation as they waited for the monthly and weekly close to see bitcoin continue a bullish run. Bitcoin and the cryptocurrency market bounced back strongly, surging by nearly 18% in July after a severe correction of 56% in the second quarter. After two consecutive quarters of negative growth, the U.S.
‘There’s no such thing as good and bad timing, just good and bad strategies’ – Mark Moss Mark Moss recently posted a YouTube video in which he gave a breakdown of the very important four part strategy you need to be aware of while inve
The traditional and simple definition of a recession is when there are two consecutive quarters of declining GDP. But the National Bureau of Economic Research does not adhere to this definition and looks at other factors to determine when the US has entered a recession.
On Wednesday, after the Federal Reserve decided to increase interest rates by 75 basis points, bitcoin rose sharply and cleared the $23,000 level. This confirms prior predictions by analysts that the FOMC meeting would have no impact on bitcoin or even result in a relief rally. And we are definitely seeing a relief rally.
Bitcoin showed weakness and dropped to its lowest level in the past week, 36% below its 200-day moving average of $32,000. This can be attributed to the growing anxiety while investors worldwide wait for a decision concerning the next interest rate hike from the Federal Reserve.
On the eve of the FOMC July meeting, the bitcoin price has once again traded below the $22,000 level.
Bitcoin started a downside correction and traded below the $22,200 level. The weekly and daily RSI are bullish. Current funding rate indicating a further bitcoin price drop.
Robert Kiyosaki, co-author of the best-selling book “Rich Dad Poor Dad”, voiced his concerns on Twitter about the state of the U.S. economy. He mentioned a few red flags: Real estate is crashing, foreclosures are up by 700% from last year and widespread layoff are starting.
Bitcoin held the $23,000 level surprisingly well given the news that Elon Musk sold 75% of bitcoin holdings on the Tesla balance sheet. Bitcoin traded close to the 50-day exponential moving average (EMA) but is yet to surpass it.