BitcoinAverage Blog

bitcoin price news and analysis

Chart 1

On January 14, 20:00 hours UTC, bitcoin price broke $430 level support, falling sharply to a $352 low in a series of cascading sell offs. The chart above, on a 12 hour time frame, shows an impulsive red candle stopped short at $358, a support level where price has consolidated.

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Rocket Image

In a period of two days, the bitcoin price fell by close to 15%. This is after Mike Hearn, one of the most visible Bitcoin lead developers, announced on the 14th of January, 2015 that he had decided to throw in the towel and walked away for good.

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The first Initial Public Offering (IPO) by a Bitcoin company in Australia, and the globe at large, was supposed to happen in the July of 2015.

Bitcoin Group Limited has lodged its IPO Prospectus to Australian Securities and Investments Commission (ASIC) today,” the Melbourne-based company a...

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Chart 1

This week, bitcoin broke out upwards sharply, from a low at $428 on Bitstamp - the apex of a wedge triangle pattern. This step up happened during early Asian trading hours, 5 am to 10 am GMT + 3 on January 7, after global markets reacted to fall in Chinese stock market. This sharp move triggered US and European market lows, with the British market, opening at its lowest in history.

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There is bad news coming out of China. It isn't another report of human right violations, nor is it smog choking industrial cities. Rather, it is a financial storm forming in the world’s second-largest economy.

For decades, a high annual economic growth has been one of the few positive things many...

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