Author: Cole Petersen

Bitcoin

Analyst Claims Bitcoin Drop Towards $7,000 Highly Probable

Cole Petersen

Bitcoin and the aggregated crypto market incurred a sudden influx of buying pressure late-yesterday that allowed most major cryptocurrencies to post some decent gains, although these were largely erased overnight as BTC dropped back down towards $10,400. Bitcoin’s consistent ability to post strong bounces with each visit into the $9,000 region certainly provides some justification for a bullish outlook on the cryptocurrency, but one analyst is now pointing to the existence of a large falling wedge, which may mean that BTC will drop as low as $7,400 before positing a sustainable rally. Bitcoin Fails to Rally Overnight At the time of writing, Bitcoin is trading up nominally at its current price of $10,440, which marks a slight rise from its 24-hour lows of below $10,400, but …

Bitcoin

Ethereum Pumps Past $180, But It Could Be a Fake-Out

Cole Petersen

Ethereum (ETH) incurred a significant amount of upwards momentum yesterday that came about after the aggregated altcoin market posted some decent gains that led many cryptos to surge 5{520ebc7d04367f10067c097a94259816cd1e6df76ec40212834858ca2e1af940} or more. Importantly, this surge may ultimately be fleeting, as one analyst is noting that ETH has “fake pumped” on multiple occasions as of late, with each pump being followed by lower lows. Ethereum Surges Past $180  At the time of writing, Bitcoin is trading up nearly 5{520ebc7d04367f10067c097a94259816cd1e6df76ec40212834858ca2e1af940} at its current price of $182.45 and is up significantly from its daily lows of just over $170 that were set yesterday. This explosive movement upwards led ETH to highs of just under $185, which was a previous level of major support for the crypto that has likely flipped into …