Bitcoin Price Stabilizes: Market Recovery Expected After Flurry of Positive News

[SuperBazooka]

Bitcoin Price Stabilizes: Market Recovery Expected After Flurry of Positive News
Bitcoin has found stability in the low range of $6,300 to $6,400, demonstrating decent volume at around $3.8 billion and pushing its dominance index to 56.1 percent.
Well performing tokens including WanChain, VeChain, Decentraland, and Waltonchain have recorded large losses against the US dollar in the range of 5 to 10 percent, mostly likely due to the struggle of ETH, the native cryptocurrency of Ethereum, to recover beyond the $200 mark.

Positive News From EU, Nasdaq, Citigroup, Winklevoss Twins
The crypto sector has had arguably one of the best weeks in its nine-year history pertaining to institutionalization and regulation.

Over the past three days, Valdis Dombrovskis, vice president of the European Commission, said that cryptocurrencies will co-exist with the financial system, Nasdaq is preparing to release a crypto analytics tool for investors, Citigroup has shared its plans to support crypto custody, and Winklevoss twins-led Gemini has launched the first fully audited and licensed stablecoin in the market, called Gemini dollar (GUST).
https://www.ccn.com/bitcoin-price-stabilizes-market-recovery-expected-after-flurry-of-positive-news/

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[o_e_l_e_o]

Since when did positive or negative news directly correlate with bitcoin price? The price has dropped many times in the last year shortly after positive news was released.

Also, VeChain is no longer a token since they swapped from ERC20 to their own blockchain last month.

Whoever wrote this article maybe needs to do 5 minutes of research next time.

[dothebeats]

I don't think that the positive news springing all over the web brings price stability for bitcoin since we have had a series of good PR over the past few years, particularly 2015 but the price either drops hard or expresses a huge volatility. Positive news are okay since it promotes bitcoin, though I don't think it really offers something for the market and the traders to rely on. The way I see it, hype generates more reaction from the market than positive news itself, so it's really hard to just trust whatever positive is appearing on the media and the web for trading decisions.

[MainIbem]

When you read articles like this https://bitcointalk.org/index.php?topic=5014064.0, you will take such news and events with caution. I think there are so much going on in the world of cryptocurrency we have not known yet.

[masterkiller]

I feel the price of Bitcoin will rise soon, with the many positive news about Bitcoin in recent days including the sign that the price of Bitcoin in Iran that has touched the price of 26k USD 5 days ago. this seems to be a signal that there will soon be Bullrun on Bitcoin

[Gozie51]

I think it is high time that we stopped expecting an increase in price just because a news supporting bitcoin or cryptocurrency is on the air. Let me ask, how many times have we seen price increase immediately with such news item.

Digital currency isn't forex in totality. Fiat currency can move tremendously and instantly just because the president of USA- Trump, for instance, makes a statement but digital currency don't move with such sentiment.

[ralle14]

including the sign that the price of Bitcoin in Iran that has touched the price of 26k USD 5 days ago. this seems to be a signal that there will soon be Bullrun on Bitcoin

It didn't hit $20k in Iran it was a miscalculation the real price was $6.5k, the authors who wrote articles stating it went $20k aren't familiar with the real conversation rates. Check this reddit post and find the top comment so you'll know why it wasn't.

https://www.reddit.com/r/Bitcoin/comments/9cwmq8/bitcoin_price_is_already_at_ath_in_iran/

The positive news only maintained the stability of the market but did not seem to increase as I thought. In order to increase the market, it is necessary to attract new investors into this market.

We didn't even need these positive news to maintain the price. With or without news the price should be moved by the traders and not from these news articles.

[Binugon]

Bitcoin Price Stabilizes: Market Recovery Expected After Flurry of Positive News
Bitcoin has found stability in the low range of $6,300 to $6,400, demonstrating decent volume at around $3.8 billion and pushing its dominance index to 56.1 percent.
Well performing tokens including WanChain, VeChain, Decentraland, and Waltonchain have recorded large losses against the US dollar in the range of 5 to 10 percent, mostly likely due to the struggle of ETH, the native cryptocurrency of Ethereum, to recover beyond the $200 mark.

Positive News From EU, Nasdaq, Citigroup, Winklevoss Twins
The crypto sector has had arguably one of the best weeks in its nine-year history pertaining to institutionalization and regulation.

Over the past three days, Valdis Dombrovskis, vice president of the European Commission, said that cryptocurrencies will co-exist with the financial system, Nasdaq is preparing to release a crypto analytics tool for investors, Citigroup has shared its plans to support crypto custody, and Winklevoss twins-led Gemini has launched the first fully audited and licensed stablecoin in the market, called Gemini dollar (GUST).
https://www.ccn.com/bitcoin-price-stabilizes-market-recovery-expected-after-flurry-of-positive-news/

Positive news about bitcoin can affect the price of bitcoin because it builds the confidence of investors so many will invest with Bitcoin, on the contrary negative news about bitcoin will cause investors to worry and are reluctant to invest with bitcoin, maybe even leave bitcoin

[Varun Kanwar]

Bitcoin prices are stable right now but still the volatility index is high. Inspite of so many good news we have not seen btc rise too much. So one needs to be extra careful to make new investments right now. Whatever the conditions, the price of btc at 6.3k dollars looks pretty attractive to invest.