Our Cryptocurrency News feed is a one stop shop destination on all the latest news in crypto. Cryptocurrency News today play an important role in the awareness and expansion of of the crypto industry, so don’t miss out on all the buzz and stay in the known on all the Latest Cryptocurrency News. This week was nothing short of exciting. Bitcoin started trading at around $10,300 but was on a positive note throughout the entire time. It increased gradually, without any sharp and somewhat surprising movements, and managed to add about 6.5% to its value.The cryptocurrency tapped the important psychological and technical resistance at $11,000 but failed to conclusively close above it. Trying on the historic correlation chart of Bitcoin and the S&P 500 Index, we see that the correlation coefficient reveals a cyclical sample, revolving round 0. For the uninitiated, Zero signifies little or no correlation. The truth is, earlier than March of this yr, the coefficient had reached highs of 0.Three simply twice in Bitcoin’s historical past. Historic correlation chart BTC vs S&P ... Bitcoin-branded forks like Bitcoin Cash, meanwhile, have fared even worse, actually depreciating in value since their inception. Bitcoin Apples to Altcoin Oranges More recently, Bitcoinist highlighted the stellar performance of Binance Coin (BNB) 0 0 , which has skyrocketed in value since launching in mid-2017. Chart of the Dollar Index (DXY) since the start of the year from TradingView.com. According to Raoul Pal — the former head of hedge fund sales at Goldman Sachs and the CEO of Real Vision — the dollar is poised to continue to surge higher as companies begin to default on dollar-denominated debt due to COVID-19: “But the dollar will continue to rise as demand for dollars rises. • 1,025 BTC worth $9.9 million transferred from Binance to unknown wallet. Meanwhile, TradingView’s aggregated technical analysis of BTC, ETH and XRP is showing divergent results at time of publishing. Bitcoin is a “strong buy” on the 1-day and 1-week timeframes and a “buy” on the 1-day timeframe. ETH is marked as a “buy” on all ... BTCUSD Daily Head and Shoulders Chart Pattern & Throwback Source: TradingView The potential top pattern – a head and shoulders – that sent Bitcoin price back down to retest $10,000, just had its neckline retested. Thus far, although $11,000 has been holding, the neckline also hasn’t been penetrated and a rejection could be forming.
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