Read the success stories of crypto entrepreneurs.

Discussions are fun when we are part of a community.
Login Free Registration

Get 10 AltcoinN Points just by registering on this forums.

BTC Price Blows Past $8,900 But Traders Say Nothing Abnormal, Bitcoin Still Ranging

BTC Price Blows Past $8,900 But Traders Say Nothing Abnormal, Bitcoin Still Ranging
Impact of a deadly coronavirus rattles investors

By AnTy- January 27, 2020
BTC Price Blows Past $8,900 But Traders Say Nothing Abnormal, Bitcoin Still Ranging
Crypto Twitter is expecting Bitcoin to pullback, but it isn’t stopping. The leading cryptocurrency today again defied market expectations and climbed past $8,900.

During the weekend, we started making our way upwards around $8,270 and today we jumped as high as $8,983.

Source: TradingView
Analyst and trader have been calling for Bitcoin to make a pullback around $8,800-$8,900 but with how strongly BTC is moving, we might be able to cross above $9,000.

“The longer we range above $8k, the more bullish,” is how investor and trader Josh Rager feels about BTC.

Trader Nik Patel is also of the opinion that a close above $8,800 would be “very bullish” for the leading cryptocurrency as it makes a “Strong close on the 1H, above prior swing-high but comfortably below next resistance, so no swing-failure yet to indicate downside.”

But it’s all about volume. A rising price with a rising volume is a bullish sign and as trader Scott Melker says a “true trend.”

The Wolf Of All Streets


Volume tells all. A true trend is identified when volume is rising. Blue arrows show volume and price in agreement. Red arrows show price action on descending volume. Price going down with volume = consolidation, not a bearish trend. Volume may be rising with price again.

View image on Twitter
7:22 PM - Jan 27, 2020
Twitter Ads info and privacy
25 people are talking about this
Impact of a deadly Coronavirus rattles investors
While bitcoin is surging, the US stock market is tumbling down as concerns over the impact of a deadly Coronavirus originated in China rattles the investors.

The S&P 500 sank the most in about four months while the Dow Jones Industrial Average briefly wiped the gains it made in 2020. China’s financial markets meanwhile remain closed until next Monday after authorities extended the Chinese New year break by three days as they struggle with the worsening virus crisis.

The offshore yuan dropped to its lowest level this year as the pneumonia-like virus infected over 2,700 people and killed 80.

Bitcoin buyers buying narrative?
Amidst this, gold gained in haven assets. Could this be why Bitcoin is also rising?

According to economists and trader Alex Kruger, “Stocks were at its most overbought level since 2012 when the coronavirus panic started, and thus particularly vulnerable to bad news.”

But what about the fact that Bitcoin price has already mirrored gold thrice this year. Kruger says “BTC has had a clear risk-off component in 2020. Iran was a game changer.”

Rager also feels Bitcoin price and Coronavirus’ connection has been “sensualized” when “Nothing abnormal has happened to BTC price,” because it is still ranging between $8k to $9200 but said “sustaining price is positive.”

According to Mati Greenspan, founder of Quantum Economics, “Perhaps a few are buying on this narrative but what seems more likely to me is that upward pressure is a result of Fed printing & additional liquidity in capital markets.”

But that means it's “acting more like a risk asset than a safe haven.”

So, it could be Fed or Bitcoin might have finally started acting like a safe haven or…

The Wolf Of All Streets

“Markets can remain irrational longer than you can remain solvent.”- John Maynard Keynes

One of my favorite quotes for investors and traders.

6:53 PM - Jan 27, 2020
Twitter Ads info and privacy
22 people are talking about this
Bitcoin (BTC) Live Price
1 BTC/USD =$8,950.14 change ~ 4.20%
Coin Market Cap

$162.58 Billion
24 Hour Volume

$5.72 Billion
24 Hour VWAP

$8.74 K
24 Hour Change

$ 360.6200

Previous Review
Japanese Crypto Exchange Liquid to Offer Bitcoin Perpetual Contracts
Next Review
2nd Largest Bitcoin Mining Pool Produces A Stale Bl

ock, Leading To A $3 Double Spend
AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.
Latest Crypto News
Bitcoin Price Analysis
Bitcoin Price (BTC) Signaling Bullish Continuation Above $9,000
January 27, 2020
Bitcoin Price Back at $8,700 As Institutional Investors Appetite for BTC Grows Exponentially
Bitcoin Price Back at $8,700 As Institutional Investors Appetite for BTC...
January 27, 2020
Are Mining Death Spiral Believers Holding Bitcoin's Price From Jumping?
Are Mining Death Spiral Believers Holding Bitcoin’s Price From Jumping?
January 24, 2020
Save my name, email, and website in this browser for the next time I comment.

Bitcoin Exchange Guide
Bitcoin Exchange Guide is a hyperactive hybrid of heavy-handed cryptocurrency content curation creators from christened community contributors who focus on delivering today's bitcoin news, cryptoasset user guides and latest blockchain updates.