Bitcoin is struggling at the $24,000 level after finding its perceived low for the cycle in June and going on to rise more than 20% in July, for its best month of the year. The cryptocurrency rose above $24,000 twice this week. It also touched that level at the end of July, but was unable to hold there before retrying this week. However, while a breakout above that mark could open the gates for bitcoin to test the next leg up, it doesn’t necessarily have lasting implications, technical analysts say. “I think $29,000 will be very, very difficult for bitcoin to take out on the upside,” Julius de Kempenaer, senior technical analyst at StockCharts.com, said this week. “Sellers came in around $24,500 last month and the buyers were not strong enough to push it beyond that $24,500. If that happens, it would be a short-term positive, but you’ve got to see it all in the light of the big break down.” Bitcoin did climb as high as about $24,700 at one point Thursday, though momentarily, as...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...