Will it be a week to forget for Bitcoin? While things aren’t looking great, there are some signs of hope. (Reporting via WilliamSuberg)
The move has been long anticipated. Earlier in August, mining firm BlockwareThe latest shift was noted by Charles Edwards, CEO of asset manager Capriole, who compared this year’s capitulation with others in Bitcoin’s history.
“Historically, Bitcoin’s miner capitulations have captured major price lows and been great buy-signals,” Edwards continued, echoing the classic Bitcoin market mantra, “price follows hash rate:” Behind the scenes, investors, instead of fleeing BTC exposure, have been piling into the market at a noticeable pace in recent days.
For comparison, in August 2018, BTC/USD was climbing toward $7,000, but still several months out from its bear market bottom of $3,100.Compared to before the price drop, meanwhile, sentiment is not what it was on crypto.Even as exchanges see an acceleration in BTC leaving their books, the overall picture is now firmly one of “fear” when it comes to Bitcoin and altcoin investors., which uses a basket of factors to give a normalized score for market sentiment, “extreme fear” is just a step away.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business economists give soft landing the side-eyeA new survey offers a bit of insight into the way the Fed's actions can affect the psychology of people who help make decisions in corporate America.
Read more »
One Fed Up Local Librarian Is Fighting Back Hard Against Book BannersThe Louisiana-based librarian says she's had enough of extremist right-wing rhetoric and is fighting back against both banning books and bullying.
Read more »
Tesla stock split, Peloton earnings, Fed Jackson Hole symposium top week aheadFOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Read more »
Asia-Pacific Markets Drop as Investors Weigh Concerns Over Fed HikesAsia-Pacific Markets Set to Fall as Investors Weigh Concerns Over Fed Hikes
Read more »
EUR/USD declines towards 1.0000 on expectation of hawkish guidance by Fed in Jackson HoleEUR/USD declines towards 1.0000 on expectation of hawkish guidance by Fed in Jackson Hole – by Sagar_Dua24 EURUSD Fed ConsumerConfidence Inflation Eurozone
Read more »