Gold peaked at more than three-month highs on Friday and looks poised to end 2019 on a positive note. Bullion is on track for its best yearly return since 2010. At least three underlying factors have supported the yellow metal over the past few weeks. The price of gold ended the week on a high…
Gold’s price has recovered from a short-term drop to $1,450 in early November, casting doubts about the sustainability of the stock rally. Gold’s price is on the rise despite record high numbers from the U.S. stock market. Up until the third quarter, gold was considered overbought based on some technical indicators. Stability in the market…
Bitcoin is now in a downtrend after Friday’s technical reversal. Analyst Peter Brandt believes that a cleansing is in order before bitcoin can start a new bull market. He says investors who refuse to be shaken out by the stomach-churning purge could reap ridiculous profits in the future. The world’s dominant cryptocurrency appears to have…
Bitcoin traders were badly whipsawed today and yesterday as the cryptocurrency rose above $9,100 only to dump back down to $8,600. The price action gives spot buyers or HODLers the opportunity to add to their long positions. A widely-followed trader shared a chart that explains bitcoin’s violent price action. Bitcoin surprised almost everyone on Sunday.…
Bitcoin to flip gold by 2028, says Bobby Lee, founder of BTCC, the world’s first bitcoin exchange. Stock to Flow model supports the prediction. A weak dollar may adversely affect bitcoin’s price point. Bitcoin bull and CEO of BTC China, Bobby Lee, has thrown down his latest forecast, suggesting that bitcoin will flip gold’s market…
Gold price dropped by 4% as U.S. stock market hit record highs. Major U.S. banks including JPMorgan and Citibank closed positions on gold for more risky alternatives. Nobel laureate says geopolitical risks are over-estimated, making the environment better for stock market over gold. The gold price has dropped by 4% in the past nine days…
The bitcoin price has plunged by nearly 10% on Wednesday to fall near a 5-month low. After flirting with a move to the upside above $8,000, the leading cryptocurrency dropped sharply below to just under $7,500. Bitcoin price chart | Source: TradingViewOther major-cap cryptocurrencies also followed Bitcoin’s spiraling crash by falling between 4% and 9%…
A short term trend reversal for bitcoin has become increasingly unlikely for bitcoin following a 5% drop in less than three days. Since October 1, the bitcoin price has fallen from $8,532 to $8,100 against the U.S. dollar. Technical analysts anticipated a relief rally to key resistance levels found at around $9,000 as bitcoin initially…
Despite the recovery of the bitcoin price by $700 in the past 48 hours, traders like DonAlt expect a deeper correction in the short term. The bitcoin price dropped to the $7,000 region twice in the past week, dipping to as low as $7,688 on September 30. While bitcoin attempted to break above important support…
The price of gold was under pressure Friday, extending a weeklong slump that saw the U.S. dollar rise to multi-year highs against a basket of currencies. Gold Tumbles; Silver Follows Futures on December gold delivery reached a session low of $1,493.30, putting them on track for their lowest settlement in over a month. The contract…
