Explained below are a few reasons why Bitcoin is believed to be valuable. It is Recognized as a Good Store of Value (SoV) There is a rule in economics which states that an asset is valuable if it exhibits two qualities; scarcity and utility. Scarcity implies that there is a finite supply of that asset, […]
Bitcoin appeared not to have found stable support for a bullish swing, although the market had stayed temporarily on the $6800 support for the past two days now. After correcting gain to $7400, BTC has now dropped to the $7000 zones, resuming a bearish trajectory. We may experience a severe drop if the bearish pressure […]
Finally, Bitcoin has cleared the $7300 low few hours ago and now we are facing the $7000 support, which is most likely to break soon. The bears are still dominant in the market and due to that, we can expect more colossal drop in the next three few hours. Despite the monthly dip, BTC dominance […]
It appeared that Bitcoin is not done yet with selling now as the bears continue to knock down by the market, although support is holding at the $7500 since yesterday’s steep decline. Bitcoin may cause a lot of pain and panic in the market if the price slips below $7500. However, there’s a hope for […]
The Store of Value thesis purports that an item that is presently valuable will continue to be valuable in the future. SoV represents the ability of an item that isn’t a commodity of currency to sustain and even increase in value over a given period. Is Bitcoin a good SoV? Listed below are a few […]
The latest surge has caused a lot of bearish pressure in the market, making Bitcoin’s price to plummet straight to $7500. As a result of this, Bitcoin saw a cut of about $680 its daily opening price, now trading at around $7660. We can expect the scenario to get uglier as $7300 is on sight. […]
Since Tuesday, Bitcoin has held support at $8000 with a lot of bearish bias which is still dominant in the market. In fact, it’s not certain whether BTC would hold above $8000 if the bearish pressure continues. Notwithstanding, a strong bullish pressure could help the market to recover back on the current support. Otherwise, the […]
Bitcoin has found temporal support around $8000 over the last 24-hours, giving traders a little relief of the bearish pressure over the past few days. What BTC is likely to display now is a corrective gain before resuming bearish bias. Of course, it may lead to a reversal if Bitcoin can reclaim important resistances. If […]
Bitcoin is now priced at around $8140, following the last 24 days of bearishness which has made the BTC price to reach a weekly low of $8000. However, the bears are still present as more selling could be underway for this market if the $8000 support breaks. Currently, Bitcoin is down by 2.91% and at […]
