By Jing Zhu | Crescent City Capital Market Analyst Intern Just yesterday morning, Bitcoin price was around $13,200. Earlier this morning, it has dropped to a low of $11,164. Despite the price drop, the outlook remains bullish because the current price is holding up well above support at $9,615 (the higher low experienced on July 2). Bitcoin […]

By Jing Zhu | Crescent City Capital Market Analyst Intern On July 2, Bitcoin price fell to $9,700. However, it has quickly recovered to $11,800 in the span of 48 hours. The strong momentum of the U.S. stock market, the returning appetite for high-risk trades, the development of Libra, and the performance of gold are just a […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Bitcoin Price Increases Weekly Gain to 30% Early on Wednesday, Bitcoin price topped $12,900. It broke resistance around the $12,500 mark, but is currently hovering around that value. This momentum is impressive, especially considering that just last Friday, traders were waiting for Bitcoin to break $10,000. The […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Facebook Introduces Libra On June 18th, Facebook came out with the Libra coin. This new cryptocurrency uses cryptography to verify transactions, which will launch next year. Users of Facebook’s Messenger App will be able to access Libra coins through a digital wallet. Because Facebook has many users […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Technical Indicators Suggest Dip is Over According to Bloomberg, the technical analysis from Fundstrat Global Advisors indicates that most cryptocurrencies are prepared for fresh gains. Relative strength index momentum is now turning upwards from neutral, which shows that there are strong trending markets. Rob Sluymer, a technical […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Currently, Bitcoin is experiencing another bull run. In May of 2019, prices surged well above $8000. This phenomenon has not been seen since November of 2017. For example, on November 25th, 2017, Bitcoin dominated the market across all cryptocurrencies, achieving a 52% overall market cap. Now in […]