Bitcoin Comes Down From $11,500 Highs To Challenge $11k Support

Bitcoin Comes Down From $11,500 Highs To Challenge $11k Support
$12,000 remains a tough barrier for Bitcoin prices as momentum fizzles again just over $11,500.

Bitcoin is retesting support at $11,000 after reaching highs of $11,528 Sunday, the latest cross-exchange data shows.

According to Coinmarketcap, Bitcoin retook the $11,000 mark early Saturday before resistance closer to $12,000 kicked in a day later.

Bitcoin prices have continued to struggle with resistance clustering around $12,000, analysts have noted in the past weeks. As Cointelegraph reported Friday, further upside would appear to depend on prices clearing a significant area below $12,400.

As prices aim downwards into Monday, however, the technical bullish case for Bitcoin remains strong.

Having released its full support for Segregated Witness (SegWit) technology in its latest client release last month, Bitcoin Core now has more nodes in its network than at any time in history.

SegWit, which permits faster and cheaper Bitcoin transactions, now accounts for around 29% of the total BTC transactions being sent after major exchanges Coinbase and Bitfinex also implemented it.

Further ahead, the continued rapid growth of the Lightning Network points to sentiment behind Bitcoin as a currency remaining.

The technology, which ultimately allows near-free instant Bitcoin transactions, now has almost 1000 nodes operating on its mainnet, despite reservations about its stability from some well-known Bitcoin industry figures.

The picture forms a broad contrast to altcoins Sunday, with many in Coinmarketcaps top 50 losing several percentage points in the 24 hours to press time. Stellar is a notable exception, up about 9.35% over the same period.

05.03.2018 / 08:42 65
Bitcoin Fees Are Down Big: Why It Happened And What It Means Bitcoin Fees Are Down Big: Why It
$26 down to $3. The average cost of sending a bitcoin transaction is cheaper than it's been in a year and a half, showing the price isn't the
Bitcoin Core Releases Software Upgrade With Full SegWit Support Bitcoin Core Releases Software Upgrade
The Bitcoin Core development team has released a much-anticipated software upgradedesigned to help scale the cryptocurrency network. Version 0.16.0
Litecoin Price Leaps 30% to New All-Time High Litecoin Price Leaps 30% to New
Litecoin price leaped by nearly a third on Monday, raising the sixth-largest cryptocurrency to a new all-time high. Litecoin Price Touches $185 For
Ethereum, Litecoin Prices Headline $20 Billion Altcoin Rally Ethereum, Litecoin Prices Headline $20
The cryptocurrency markets achieved another comprehensive advance on Tuesday, but breaking from recent norms the bitcoin price was not leading
Litecoin Price Cracks $235 as Rally Extends Another 16 Percent Litecoin Price Cracks $235 as Rally
The Litecoin price extended its rally on Thursday, rising 16 percent to briefly crack the $235 barrier and achieve its highest mark in a month.
Cryptocurrency Market Remains Volatile, Litecoin Sustains Momentum With 4% Gains Cryptocurrency Market Remains Volatile,
Yesterday, on February 25, CCN reported that the cryptocurrency market struggled to maintain momentum in the $500 billion region, falling to $430
Comments (0)
Add a comment
Comment on