Bitcoin Price: Gold Breakout Could Jolt BTC Above $12K, Say Analysts - Bitcoin and Altcoins News


Post Top Ad

Post Top Ad

August 13, 2019

Bitcoin Price: Gold Breakout Could Jolt BTC Above $12K, Say Analysts

Bitcoin (BTC) price remained fairly buoyant on Aug. 13 despite a fresh delay of an exchange-traded fund (ETF) by United States regulators. 
Market visualization
Market visualization. Source: Coin360
Bitcoin price unfazed by Bitcoin ETF delay
Data from Coin360 showed BTC/USD clinging to support above $11,000 Tuesday, as the fallout of another delay to a Bitcoin ETF hitting the market appeared to impact markets less than ever before.
Bitcoin was down 0.22% at press time, while 7% weekly losses contrasted with the cryptocurrency’s best weekly close of 2019 set over the weekend.
Bitcoin 7-day price chart
Bitcoin 7-day price chart. Source: Coin360
As Cointelegraph reported, previous ETF-related decisions by the U.S. Securities and Exchange Commission (SEC) sparked considerably more uncertainty for Bitcoin, with the price succumbing to downward pressure. 
Now, analysts are instead looking to strength in gold to determine whether Bitcoin could likewise continue expanding. 
Bitcoin’s relationship to the precious metal as an investor safe haven gathered traction in recent weeks, due to the turmoil in China coinciding with a fresh boost for BTC/USD to over $12,000. 
As the crypto trader and developer known on Twitter as RideTheLightning noted, gold is currently at the top of its short-term range and seeking a breakout. 
“Gold at HTF resistance, if it busts through I wonder if Bitcoin follows,” they commented uploading an accompanying chart. 
Ether tanks as altcoins remain flaccid
Across altcoin markets, tokens fluctuated around Bitcoin’s sideways performance, gaining or losing up to a modest 2.5%.
Out of the top twenty cryptocurrencies by market cap, it was Bitcoin Cash (BCH) leading the way with 2.3% daily growth, while Binance Coin (BNB) managed 1.3%. 
Ether (ETH), the largest altcoin, at the same time contracted 1.5% as a continued bearish trend takes the token ever lower against both USD and BTC. Ether has not traded at current levels against BTC since March 2017.
A survey this week nonetheless revealed strong belief that ETH/USD would return to trade above $1,000 once more in the future.
Ether 7-day price chart
Ether 7-day price chart. Source: Coin360
The total cryptocurrency market cap is $294 billion, again slightly down on Monday’s figure, while Bitcoin’s share remains at close to 69% of the total.

1 comment:

  1. Radiologex is a next-gen medical network that is web accessible and downloadable as an APP on any device, MAC, PC, IOS, and Android. It is powered by blockchain technology and RDGX AI, allowing medical professionals all across the globe to connect, communicate, collaborate, transact, access content, and perform services on one comprehensive and complete medical ECOSYSTEM. It’s more intuitive, easier to operate, requires ZERO hardware purchases, and is equipped with leading security features—all for less cost. It’s the Evolution of Telemedicine AND Teleradiology.

    At the core, Radiologex is galvanized by a blockchain powered state-of-the art content delivery network (CDN) that is designed to not only replace redundant and unnecessary multiple platforms, both software and hardware, but to connect you with the global Medical community in an all-in-one platform that will drive all communication, business (buy/sell/network), with powerful medical imaging technology (PACS) and RIS/CIS capabilities. Unplug yourself from redundant hardware and various software and applications, usernames passwords and hassle, function seamlessly, with no intermediaries. The future of Enterprise Imaging and True Telemedicine™️ have arrived. With the renowned efficiency, security, decentralization of data, elimination of software fail points, transparency, and transparency and traceability of blockchain technology, Radiologex takes this core architecture to the next level to deliver a new way for the Medical Industry to interact and perform service.

    join :


Post Top Ad