Tag: short squeeze

Short Squeeze Catapults Price of Bitcoin Past $7,600

Just hours after short positions on Bitcoin eclipsed longs, and as BTC shorts volume reached an all-time high, Bitcoin saw an explosion, appreciating over US$900 in under an hour, a growth of 13%. Since the pump, global cryptocurrency markets have risen over 10%, to just under US$300 billion. Speculators overwhelmingly agree that the cause for such a price movement was a textbook short squeeze. A short squeeze occurs when a …
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Bitcoin Technical Analysis for 3/24/16 – Slow and Steady

The Bitcoin market is making a steady rise to the $420 resistance zone as it is currently trading at $416.12 on Bitstamp. In our previous Bitcoin technical analysis we mentioned that if no major selloffs occur¬†the price will keep climbing, so far the market has proved that theory to be true. How much longer the price will rise depends on how well support will hold at $416. While the monthly¬†trend …
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