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[NEWS BLOG]: Bitcoin Falls Through Key Average as Traditional Markets Hit Record Highs

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  • Strong performances in traditional assets and a lack of new reasons to buy crypto is suppressing BTC’s price.
  • A loss of the 50-day moving average exposes the $8,000 price level.
  • The daily RSI shows that momentum slowing, which could hint at greater selling pressure in the short term.

Bitcoin (BTC) is at risk of another sell-off after its price fell beneath a key moving average on Nov. 15, as a relatively strong performance by traditional assets caught investor attention.

According to Jeff Dorman, CIO at Arca, an investment management firm dealing in digital assets, BTC’s drop in price - read more.


OTHER RELATED NEWS

Simple Textbook Analysis Show XRP Price Could Rally 100% Against Bitcoin

There’s no doubt XRP saw poor performance in 2019. During that year, the price of the asset against the U.S. dollar fell by 50%, managing to underperform a swath of traditional asset classes, from stocks and bonds to precious metals and commodities.

Because Bitcoin saw a strong 2019, rallying by over 90%, the XRP/BTC pair fell dramatically, even more so than the altcoin’s pair against the dollar and other fiat currencies. One XRP, in fact, is now valued at under 3,000 satoshis — far below all-time highs.

But, a number of analysts recently explained in charts that the cryptocurrency may soon - read more.

Has The Crypto Market Bottomed After Bitcoin’s 50% Collapse?

Cryptocurrency analyst Thies recently drew attention to a clear sign that the bottom in the cryptocurrency market is finally here. He noted that according to TradingView’s Total2 trading pair (all digital assets sans Bitcoin), “last week alone showed the highest buying volume for the altcoin markets ever recorded.”

While some say that this data masks reality in part, there is no doubt there has been a lot of buying pressure in the cryptocurrency markets as of the past week, hence the absolute explosion in the price of Ethereum Classic, Bitcoin Satoshi’s Vision, and many, many others.

Bitcoin Preparing to Burst Higher

So, is the - read more.

Analyst Who Called XRP’s Drop to $0.16 Is Still Expecting Upside: Here’s Why

Analyst Who Called XRP’s Retracement to $0.16 Is Bullish

On March 26th, the price of XRP suddenly shot up out of nowhere, rallying by more than 10% within a few hours’ time out of nowhere, leaving Three Arrows Capital’s CEO, Su Zhu, to remark: “XRP looks like it wants to retrace months of underperformance in a few days now.”

In the wake of this surge, trader Credible Crypto said that before a further rally, he expects the asset to retrace to ~$0.168, as it has today, before continuing to trend higher in a wave-like fashion to $0.20 and beyond.

With XRP having retraced - read more.

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