Bitcoin SV Price Tries to Control $100 Despite Bearish Pressure

02 December, 2018, 22:46 | Author: Gerard Cortez
  • Bitcoin BTC Cryptocurrency Price

Following the nasty split that took place after the Bitcoin cash fork, Bitcoin Cash SV performance is shocking as the coin has been pushing its way through the top as the coin now stands as the 7 cryptocurrency in terms of market capitalization. "In contrast to bounces that have developed through 2018, weekly RSI [relative strength index] is now at levels not seen since BTC's last bear market low in early 2015 and BTC is showing very early evidence of responding to its long-term uptrend after three major downside moves through 2018..." This also marked an 80% dip into its all time high. There is a lot of interest around this project which is why the price rallied this aggressively against Bitcoin (BTC) and Ethereum (ETH) in the first place. While the price boost is encouraging, it isn't what investors were hoping for at the end of the year.

On November 28, the price of Bitcoin (BTC) spiked from $3,771 to $4,355, by more than 15.4 percent.

"Don't go getting euphoric already, price is at resistance on higher time frames".

What Caused The Price Recovery?

Mainstream investors have stayed clear of bitcoin, with concerns over scant regulatory oversight compounded by frequent swings in price. Bitcoin Cash ABC is down by around 8%.

Bitcoin price bounced back to the $4300 level at present after collapsing to $3500 last week.

Putin says no talks with Ukraine about release of sailors
Putin said at the summit that there's been no discussion with Ukraine about releasing the sailors or the ships. A 2003 Russia-Ukraine agreement designates the Sea of Azov and the Kerch Strait as shared internal waters.

He further explained that since the crypto market is still relatively small, a large "buy" order can "kick off an avalanche".

They said the US Securities and Exchange Commission (SEC) was partly to blame for the recent sell-off, with the delay in its approval of new bitcoin instruments, as well as for its investigations of initial coin offerings and crypto exchanges. In fact, the parent company of the New York Stock Exchange, Intercontinental Exchange, is already backing a type of Bitcoin futures through Bakkt.

Bitcoin, at its current low prices, has made mining for bitcoin unprofitable in many cases.

According to the economics and sociology graduate (from Bucknell University), "time is important because it allows institutional investors to understand the assets aren't going away and they can see their forward-thinking peers making money".

Bloomberg reported this month that the U.S. Department of Justice had initiated an investigation of cryptocurrency Tether over possible manipulation of bitcoin prices at the end of previous year.

At the moment, BTC is trading in the green, and it's priced at $4,294.10 according to data provided by CoinMarketCap. This shows that it is up by 7.45% against the United States dollars. One First Bitcoin coin can now be purchased for about $0.0033 or 0.00000074 BTC on popular exchanges.

Recommended:



Popular

Wilder, Fury draw in epic heavyweight showdown
But as was shown versus Fury , he has the proverbial eraser, one that can cover up a lot of other deficiencies and blemishes. But Fury gradually grew in confidence, regularly taunting Wilder by throwing his arms up in the air or behind his back.

Man Charged With Murdering Brother's Family, Setting Home on Fire
Colts Neck, New Jersey, where Keith Caneiro and his family lived, is an affluent community around 50 miles south of New York City. The fire that destroyed Keith Caneiro's home was reported at around 12:30 p.m. that same day, according to authorities.

G20 Summit: PM Modi meets Saudi Crown Prince Mohammed bin Salman
Senators could vote on a bipartisan resolution to end U.S. military support for the Saudi-led coalition this week. Saudi Crown Prince Mohammed bin Salman was not on the list of the 17 individuals sanctioned by Canada.

Trump Tried to Sell Argentina Weapons at G20
The meeting will also be a test of the personal chemistry between the two leaders, which Trump has hailed as a warm friendship. Current US president Donald Trump said Bush had "inspired generations of his fellow Americans to public service".

He's Example For Others - Unai Emery Hails Arsenal Youngster
Arsenal are already through to the Europa League's last 32 and will win the group with victory over a side they beat 4-2 in London in September.

Naval standoff: Vladimir Putin blames Ukrainian President Petro Poroshenko
Tensions have loomed between Ukraine and Russian Federation after the crisis over the weekend in the Black Sea and Sea of Azov. He said Trump is "not going away". "I was thinking about it, but they'd like to have it", Trump said.

Apple in court battle over App Store
Analysts estimate that the company made more than US$22 billion ($32.5b) from the App Store worldwide in the first half of 2018. If the justices allow the case to go forward in the lower courts and Apple eventually loses, that could disrupt the App Store .

Dolce & Gabbana 'Sh*t Country' Storm Triggers Protest in Shanghai
Now the founders are apologizing if people misunderstood the way they expressed themselves. In a statemnet, on Instagram , the brand claimed, "Our Instagram account has been hacked".

Champions League: All the teams that have qualified
Gareth Bale and Lucas Vazquez were both on target for Santiago Solari's side as they won the group ahead of their opponents. Real Madrid was struggling early on, and it felt like the performance from the loss to Eibar last weekend had carried over.

Tito Ortiz Believes Manager Should've Prevented Chuck Liddell From MMA Return
After some initial exchanges, the confidence of Ortiz grew and he put Chuck away near the end of the first round. CBS Sports was with you throughout the fight card with updates, commentary and analysis with our live blog below.