Category: Bitcoin Price


Edward Snowden Calls CBDCs ‘Cryptofascist Currency’ — ‘Closer to Being a Perversion of Cryptocurrency’


Edward Snowden Calls CBDCs 'Cryptofascist Currency' — 'Closer to Being a Perversion of Cryptocurrency'On October 9, whistleblower and privacy advocate Edward Snowden published an opinion editorial concerning central bank digital currencies (CBDCs) and claimed CBDCs are “the newest danger cresting the public horizon.” Snowden stressed that rather than being an innovation, CBDC’s are “closer to being a perversion of cryptocurrency” and a “cryptofascist currency.” Snowden Stresses CBDCs ‘Are […]


Edward Snowden Calls CBDCs ‘Cryptofascist Currency’ — ‘Closer to Being a Perversion of Cryptocurrency’


Edward Snowden Calls CBDCs 'Cryptofascist Currency' — 'Closer to Being a Perversion of Cryptocurrency'On October 9, whistleblower and privacy advocate Edward Snowden published an opinion editorial concerning central bank digital currencies (CBDCs) and claimed CBDCs are “the newest danger cresting the public horizon.” Snowden stressed that rather than being an innovation, CBDC’s are “closer to being a perversion of cryptocurrency” and a “cryptofascist currency.” Snowden Stresses CBDCs ‘Are […]








JPMorgan: Institutional Investors Dump Gold for Bitcoin Seeing It as Better Inflation Hedge


JPMorgan: Institutional Investors Dump Gold for Bitcoin Amid Inflation ConcernsGlobal investment bank JPMorgan says institutional investors are returning to bitcoin, seeing the cryptocurrency as a better hedge than gold. The firm’s analysts describe three key drivers boosting the price of bitcoin in recent weeks, including assurances that U.S. policymakers will not ban cryptocurrencies. JPMorgan Sees Renewed Interest in Bitcoin JPMorgan published a research note […]






Bitcoin price dips are being ‘bought up strongly’, but a $50K close remains key


Analysts identify the key levels BTC needs to hold in order to see continuation above $50,000.

Bulls flexed their muscles on Oct. 4 and proof of this came as Bitcoin’s (BTC) price rallied within $500 of the $50,000 mark. This move toward the key psychological resistance helped to pull the Crypto Fear & Greed Index out of the fear zone and into the 'Neutral' state on Monday. 

Crypto Fear & Greed Index. Source: Alternative

The price action for the top crypto has seen increased volatility in recent weeks as countries like China have increased their crackdown on cryptocurrencies, a move which the former United States Central Intelligence Agency agent Edward Snowden says has “just made Bitcoin stronger.

Data from Cointelegraph Markets Pro and TradingView shows that after an early morning attack by bears which pushed BTC to a low of 46,863, bulls arrived with reinforcements and lifted the price back above the $49,200 support/resistance (S/R) zone where they now battle for control.

BTC/USDT 4-hour chart. Source: TradingView

Here’s a look at traders and analysts think about the current price action and what could happen next as BTC price approaches $50,000.

$48,700 is a major resistance level

Traders showed eagerness to buy up the most recent dip in BTC price according to crypto analyst and pseudonymous Twitter user ‘Rekt Capital’, who posted the following chart showing that BTC’s “recent dip was bought up strongly.”

BTC/USD 1-week chart. Source: Rekt Capital

The analyst was quick to point out that the price is still “wrestling with this red resistance area at $48,700,” and needs to see it flipped to support if bulls hope to push the price higher.

Rekt Capital said:

“This is the area that needs to flip to support for a revisit of $50,000+”

BTC needs to hold a daily close above $50,000

The importance of a close above $50,000 was also stressed by options trader and pseudonymous Twitter user ‘John Wick’, who posted the following tweet emphasizing that Bitcoin price needs to close and hold above the psychologically important level in the short term. 

The analyst pointed out that October has historically been a “great month for Bitcoin to climb higher” and indicated that the current environment and technical signals suggest that BTC has the potential to establish a new all-time high in the next four weeks if it can clear the $50,000 hurdle.

Related: Bitcoin moves past $49K as Facebook, Instagram, and WhatsApp go down

The current range high i $55,000

A final bit of bullish insight was offered by Bitcoin trader and pseudonymous Twitter user ‘George’, who posted the following chart highlighting the current trading range in order to determine the best areas to possibly look to open long positions.

BTC/USD 1-day chart. Source: Twitter

George said:

“Looking for longs as close to range low as possible. Target range high and daily supply ~ 55k ish.”

The overall cryptocurrency market cap now stands at $2.158 trillion and Bitcoin’s dominance rate is 42.9%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.



Virgin Galactic Chairman Chamath Palihapitiya Says Bitcoin Has Replaced Gold


Virgin Galactic’s Chamath Palihapitiya: Bitcoin Has Replaced GoldVirgin Galactic’s chairman and CEO of Social Capital, Chamath Palihapitiya, says bitcoin has effectively replaced gold. Having predicted that the price of the cryptocurrency would hit $200,000, the executive said bitcoin’s “market cap is just going to grow.” Palihapitiya: ‘I Can Pretty Confidently Say That Bitcoin Has Effectively Replaced Gold’ Virgin Galactic Chairman Chamath Palihapitiya […]



October’s Historical Bitcoin Price Trend Extends Hope for a Renewed Bull Run to End the Year


October's Historical Bitcoin Price Trends Extends Hope for a Renewed Bull Run to End the YearBitcoin logged price losses once again for the crypto asset’s fifth consecutive September in its lifetime, but as soon as the month ended, billions of dollars came back into the crypto economy. Metrics show that while September has consistently been a bad month for bitcoin, October, on the other hand, has traditionally been a good […]




Bitcoin history repeating? 3 indicators suggest October will reignite the BTC bull market


The flagship cryptocurrency has closed October in profits seven out of nine times since 2013, raising hopes that it would be able to log a fractal bull run in the next 31 d...