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Bitcoin Price Daily Report — August 10th, 2018

· 11 Aug 2018 in Bitcoin

Bitcoin Price Daily Report — August 10th, 2018

The BTC/USD analysis for August 10th, 2018

The 1 day range for BTC is $6301.0 – $6573.8. It is currently down 0.65% in the last 24 hours.

Today’s BTC/USD Headlines

Google Search Can Predict Bitcoin Price Increase

  • “A recent study published by the National Bureau of Economic Research (NBER) suggests that cryptocurrency markets move depending on the type of attention they receive – unlike traditional financial markets.”

Pantera CEO says Bitcoin (and other coins) will rise again, but with warnings

  • “Dan Morehead, the CEO of Pantera Capital said bitcoin price would rise but that cryptocurrency mining does not have any fixed support like other markets such as copper so cryptocurrency companies risk running losses for months.”

Today’s Close Could Be Pivotal For Bitcoin’s Price

  • “Bitcoin’s (BTC) close today will likely decide the short-term trend in prices.

    The leading cryptocurrency snapped a three-day losing streak on Thursday as the 26 percent sell-off witnessed in the last three weeks was looking overstretched.”

BTC/USD Trading Technicals

Technicals from Tradingview.com

A bit of a bounce back from this week’s big drop but not a rebound. BTC price has flatlined for the moment near $6500, which many are saying is a crucial point. We’ll have to see about that. For now, I think investors are waiting on news like Bakkt or ETF to come before establishing bigger positions. Nothing short of mass adoption or favorable regulation is going to send the price shooting back up again, so it sits at resting places like $6500.

 

BTC/USD Trading Charts

Today, we’ll look at some analysis suggesting that BTC prices are worth establishing a LONG position in.

First, here’s a chart from user DianKemala:

 

And next here’s on from user VaidoVeek:

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