Bitcoin Price Surrenders Gains, Slips below $240
- Bitcoin's traded price has given up about a third of the gains from its June rally, slipping below $240.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's traded price has given up about a third of the gains from its June rally, slipping below $240. It now finds itself in roughly the same position as during the recent 2-month stretch of flat trade.
Prices had rallied by as much as 17% from their late May lows near $220. Their current profile leaves open the possibility that this week's drop was but a brief retracement and that the rally remains intact. But a further drop into the mid-$230's may suggest that the recent hot streak was merely a blip in a prolonged period of flat trade.
Bitcoin still remains above its 50-day moving average (MA) by roughly 2%. It had adhered closely to its MA for the six weeks prior to the rally, and crossed it frequently since recovering from the January sell-off.
Litecoin, which has also followed bitcoin in coming off recent highs, has still retained the lion's share of its gains, trading at $2.88. The LTC/BTC rate, therefore, is only slightly off the 0.012 levels held during most of the week.
For both coins, there has been little by way of fundamental developments to rationalize their recent jumps. In the case of bitcoin, some investors may be keeping an eye on the block size debate and possibly more 'stress tests', which may Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term insight into its future sustainability and the feasibility of mass adoption.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's traded price has given up about a third of the gains from its June rally, slipping below $240. It now finds itself in roughly the same position as during the recent 2-month stretch of flat trade.
Prices had rallied by as much as 17% from their late May lows near $220. Their current profile leaves open the possibility that this week's drop was but a brief retracement and that the rally remains intact. But a further drop into the mid-$230's may suggest that the recent hot streak was merely a blip in a prolonged period of flat trade.
Bitcoin still remains above its 50-day moving average (MA) by roughly 2%. It had adhered closely to its MA for the six weeks prior to the rally, and crossed it frequently since recovering from the January sell-off.
Litecoin, which has also followed bitcoin in coming off recent highs, has still retained the lion's share of its gains, trading at $2.88. The LTC/BTC rate, therefore, is only slightly off the 0.012 levels held during most of the week.
For both coins, there has been little by way of fundamental developments to rationalize their recent jumps. In the case of bitcoin, some investors may be keeping an eye on the block size debate and possibly more 'stress tests', which may Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term insight into its future sustainability and the feasibility of mass adoption.