• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision

Bitcoin Hash Rate Peaks But Pullback Still Looming as Analysts Eye $9k

Martin Young by Martin Young
4 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

The Bitcoin network is looking stronger than ever but prices are starting to decline in a long awaited correction. The weekend had many thinking that the bulls could push higher, but those thoughts have been quashed Monday morning as markets continue to dump.

Bitcoin Dumps 9% on The Day

The weekend witnessed a minor resurgence from Bitcoin which managed to push back above $12k for a few hours. It could not hold there however and started a slow slide shedding a thousand dollars over the past day, dropping back to around $11k. The decline marks a 9 percent loss for BTC as crypto markets dump $25 billion.

bitcoin
BTC price 24 hours, Coinmarketcap.com

The weekly closing candle has also indicated that further losses could be imminent as indecision between bulls and bears could signal a short term trend reversal. The portentous looking ‘shooting star’ candle has been widely commented on around CT with many eyeing levels of support below five figures.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

The four hour chart has formed a descending channel with a pullback around the $9,000 area where the 200 EMA lies. This also ties up with a predicted correction of over 30 percent which would put BTC in the same zone from its recent high of $13,800.

Crypto trader Alex Krüger has mapped out all of the possible areas of support and resistance:

Very useful… thanks for posting https://t.co/KzyC9eKFZ4

— Thomas Lee (@fundstrat) July 1, 2019

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Some are predicting range bound trading between high $8,000s and $14,000 for a few weeks before a push higher as the bull market continues.

“Bitcoin will range between $8,800 & $14,000 over the next couple of weeks to month (compiling the data from traders I’m inclined to trust over others). Afterward, $20,000 is the next target, with eyes toward $28,000 & $30,000, before a correction… we’ll reassess at that point.”

Bitcoin will range between $8,800 & $14,000 over the next couple of weeks to month (compiling the data from traders I'm inclined to trust over others).

Afterward, $20,000 is the next target, with eyes toward $28,000 & $30,000, before a correction… we'll reassess at that point.

— Omar Bham (Crrrrypt0) (@crypt0snews) June 30, 2019

A little sideways action may not be a bad thing for Bitcoin. It would allow for more accumulation and may give some of the altcoins time to wake from their long hibernation.

Bitcoin Hash Rate Hits ATH

The Bitcoin network is still looking stronger than ever as hash rate, the horse power behind the computational calculations, has hit another all-time high. According to bitinfocharts.com BTC hash rate hit 68.37 exahashes/second over the weekend, the highest it has ever been. This has increased network security making BTC more systemically stable. As a result, difficulty is also at an all-time high of 7.93 T.

Bitcoin's hashrate is now at 69,000,000,000,000,000,000 hashes every second.

Hashrate is up 2x since Dec 2018 lows, and over 10x since Jun 2017. pic.twitter.com/1fdLnH5mtq

— Kevin Rooke (@kerooke) June 30, 2019

On the downside transaction fees have also increased, hitting a yearly high of $6.55 at the end of last week. Despite the current correction all indicators are strong for Bitcoin and it is likely to see out the year on a high. Since January first BTC is already up almost 200 percent and the institutions are still waiting on the sidelines.

Image from Shutterstock
Tags: bitcoinbtccorrectionhash ratetransactions
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Related Posts

Arbitrum Airdrop ARB

Over 472,845 Claim Nearly 892 Million Arbitrum (ARB) Tokens

2 hours ago
Bitcoin

Bitcoin Liquidity Crisis Gets Worse, Here’s What It Means For Price

3 hours ago
Dogecoin

Dogecoin (DOGE) Makes Slight 6% Climb This Week – Here’s Why

5 hours ago
Bitcoin Nears $29,000 As Fed Rate Hike Brings Clarity To Market

Bitcoin Nears $29,000 As Fed Rate Hike Brings Clarity To Market

14 hours ago
Ethereum

Ethereum Bullish Signal: $560M In ETH Exits Exchanges

16 hours ago
Solana

Solana Price May Fall To $21 Before It Stages Another Recovery

17 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Litecoin (LTC) and Dogecoin (DOGE) Drowning in Controversy While TMS Network (TMSN) Steals the Show

March 24, 2023

The Best Altcoins To Get In Early 2023: TMS Network (TMSN), TRON (TRX) and Mask Network (MASK)

March 24, 2023

The Web3.Conference will gather Web3 builders & creators this May in Amsterdam

March 24, 2023

LFi Unveils LFi Smartphone, Providing Unprecedented Access to Decentralized Financial Opportunities

March 24, 2023

Cardano (ADA) and Polkadot (DOT) Prices Reach a Crucial Juncture, While TMS Network (TMSN) Attracts Investors in Stage 2 of Presale

March 24, 2023

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.