NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Dips on Profit-taking but Fundamentals Show Its Parabolic Rally is Not Finished

Yashu Gola
Yashu Gola
1 year ago
2 mins read
bitcoin, cryptocurrency

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin slipped huge a day after enjoying a strong price rally above its key resistance level of $10,000.

The benchmark cryptocurrency was trading at $9,736 early Monday, down 4.35 percent from its Sunday top, according to US exchange Coinbase. Nevertheless, it was still up by more than 36 percent at its intraday low, maintaining the position of one of the best-performing assets of 2020 so far.

bitcoin, cryptocurrency
Bitcoin in a stable uptrend in 2020 | Source: TradingView.com, Coinbase

Similar rival cryptocurrency, like Ethereum and XRP, was also down by circa 4 percent on a 24-hour adjusted timeframe, showing traders were selling the tokens that rallied on Sunday at intraday tops, thereby making a small profit. That helped bitcoin and co. sustaining its bullish bias.

“Technically the structure’s bias is bullish as long as price doesn’t lose $9,150,” said Teddy Cleps, a market analyst at Crypto Freak Network. “Price has a decent margin to retrace and mark another higher high, and thus continue its growth.”

The full-time trader added that a price correction upon bitcoin hitting the $10,000 level is “very healthy for its bullish continuation.”

Recognition

Traders pointed to a string of catalysts that sent bitcoin above the $10,000 milestone, including Coronavirus. The epidemic, which has killed more than 900 people in China, earlier led global stocks to fall in tandem. The move downhill led investors to the safety of haven assets, including Gold – and even the US dollar.

CNN Business last week ran a special story about bitcoin behaving like a safe-haven against the economic uncertainties led by Coronavirus fears. The media mogul compared the cryptocurrency with Gold, a traditional hedging asset, stating that both were rising in tandem against the gloomy macroeconomic outlook.

Other global media outlets, including Business Insider, the New York Times, Independent, and Bloomberg, also ran similar coverages about bitcoin.

Bitcoin Holders on a Rise

The cryptocurrency, meanwhile, continued to attract traders ahead of its halving this year. In May 2020, a pre-programmed algorithm would deduct bitcoin’s supply rate from 1,800 BTC per day to 900 BTC per day. People think it makes bitcoin scarcer than any other global asset, which is why its price could go up in the long run.

The euphoria surrounding the halving event has already prompted traders to become holders, leading to a drop in selling orders. According to data analytics portal BitInfoCharts, over 11 million Bitcoins haven’t moved wallets since late 2018.

11,580,00 bitcoin have not moved in over a year.

Even with a 85% increase in price during that time, those millions of bitcoin were not sold or traded.

Hodlers of last resort are insane. pic.twitter.com/KTpeDrLlOO

— Rhythm (@Rhythmtrader) December 1, 2019

A survey conducted by San Francisco startup Bitwise Asset Management and research firm ETF Trends noted earlier this year that portfolio managers would increase their exposure to bitcoin twofold in 2020. The study took responses from 400 financial advisers in December 2019.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin climbed above $109K, triggering a surge across the markets: Ethereum ($ETH) – up 4.65% XRP ($XRP) – up 3.86%...

Aaron Walker 2 hours ago

Smart Contract Lock and CertiK Audit: The Driving Factors Behind $FUN’s Breakout

Web3 gaming’s FUNToken emerges with strengthened fundamentals following smart contract lock implementation and CertiK audit clearance. Trading at $0.009894 as...

News BTC 2 hours ago
Solana koers stijgt 12% in een week: golden cross wijst op $172

Solana koers stijgt 12% in een week: golden cross wijst op $172

De Solana koers laat de afgelopen dagen weer interessante bewegingen zien. SOL laat de top 10 crypto’s achter zich en...

Lars Diederiksen 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

The Silent Bitcoin Accumulation: Public Companies’ Surprising H1 2025 Lead

Christian Encila 33 minutes ago
buy bitcoin Arthur Hayes

Buy Bitcoin Before Jackson Hole—Or Regret It Forever, Says Arthur Hayes

Jake Simmons 2 hours ago

Ethereum Stagna: I Dati On-Chain Mostrano Accumulo da Parte delle Whale

clararosati 2 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨おすすめ|SPX6900のように急成長が期待される最新ミームコインプレセール

    ...

    15 minutes ago
  • 新しい仮想通貨|注目のプレセールが7月7日ローンチ前に800万ドル突破間近

    ...

    27 minutes ago
  • 仮想通貨おすすめ|キャシー・ウッドが2200%の急騰を予測する注目の1銘柄

    ...

    36 minutes ago
  • XRPの600%急騰を的中させた暗号資産トレーダーが、次は0.1ドル未満のミームコインで100倍の上昇を予測

    ...

    57 minutes ago
  • A perfect combination! ETHRANSACTION three-coin joint...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.