The S&P 500 lost over 30% in March in a few days of trading. The drop was primarily attributed to the spread of the novel coronavirus (COVID-19) and the effect it had on economies. The index has since recovered and gained more than 500 basis points but is still a long way to go. Now,...Read More
Bank of America (BofA) has a bullish view on gold and expects the prices of the precious metal to hit the $3,000 mark per ounce within the next 18 months, according to the bank’s latest report titled “The Fed can’t print gold.” Per the report, gold is the “ultimate store of value,” and the prices...Read More
Tezos is likely to correct downward to $1.6 if the price plunges below a five weeks wedge. Against Bitcoin, XTZ established resistance around 32840 SAT after gaining 27% in two weeks. Nonetheless, Tezos is still looking bullish across trading pairs despite the recent drops. XTZ/USD: Tezos Looking Bullish But Breakout Is Imminent Key Resistance Levels:...Read More
XRP saw a 3.5% price decline over the past 24 hours of trading as the cryptocurrency battles with the $0.18 level. The support here is provided by a rising trend line, and a break beneath this could result in XRP unwinding toward $0.16. Against Bitcoin, XRP rebounded from 2650 SAT but is facing resistance at...Read More
The current crisis, largely induced by the unexpected spread of the novel coronavirus (COVID-19), took its toll on oil prices. For the first time in history, crude oil trades below zero, meaning that producers are paying the buyers for disposing of their supplies. While this is undoubtedly an event to be remembered, it’s unlikely that...Read More
Over the past two days, Bitcoin topped at a high around the $7300 mark, with no success of reaching the monthly high at $7400 – $7500. This resulted in a lower high, that terminated the higher-highs bullish trajectory which had been developed since the plunge below $4000 on March 12. Bitcoin had completed a 2-day...Read More
Zcash is technically looking bullish on a short-term across its trading pairs. It remains one of the biggest gainers following a 35% increase in the last seven days of trading. The increase in buying volume suggests more bullish momentum is underway. ZEC marked new monthly high after breaking out from a four-week ascending channel yesterday...Read More
Amid lockdowns prompted by the spread of the novel coronavirus, Russian citizens have withdrawn more cash from banks and ATMs since the start of March, than they did in the whole of 2019. A report reasoned that people are afraid that banks may not function during the quarantine. For Russians, Cash Is Still King According...Read More
Ethereum saw a small 2.6% price fall today as the cryptocurrency drops into the $175 region. Before this, ETH managed to increase by a total of 16.8% over the past week as it reached an April high of $190. Against Bitcoin, Ethereum also created a fresh high for April around the 0.026 BTC level. Key...Read More
HDR Global Trading Limited, the owner of leading derivatives platform and crypto exchange, BitMEX, has announced its support in the fight against the novel Coronavirus (COVID-19) pandemic through a COVID-19 Response Fund that is worth millions. As of Monday morning, April 20, the number of confirmed cases of the pandemic across the world has reached...Read More
Minneapolis Federal Reserve President Neel Kashkari wrote Thursday that banks should cancel dividends and sell shares to raise cash. Kashkari said these measures would be necessary to create a cash buffer going into a potentially drawn-out recession. Because should the banks fail to have enough cash on hand, a wave of defaults could trigger a...Read More
XRP saw a 2.5% price decline today as the cryptocurrency drops back towards the $0.19 level. It attempted to push toward the $0.20 level yesterday but got rejected at $0.196. Against Bitcoin, XRP also dropped beneath support at 2680 SAT as it heads toward 2650 SAT support. Key Support & Resistance Levels XRP/USD: Support: $0.18,...Read More
The popular cryptocurrency data aggregator, CoinGecko, reviewed the events in the digital asset market in Q1 2020. According to the report shared with CryptoPotato, Bitcoin ultimately ended up losing 11% of its value, but some altcoins and stablecoins managed to record gains and decreased BTC’s dominance. Bitcoin’s Q1 Data The unexpected outbreak of the COVID-19 pandemic put...Read More
Top cryptocurrency, Ethereum has recorded a remarkable market dominance in the early days of this quarter. As of today, Sunday 19th April 2020, the bitcoin rival cryptocurrency touched the 10% market dominance mark, signaling inbound upward waves in market traction and price momentum. In a landmark that could be described as one of the many...Read More
dForce, a Chinese decentralized finance (DeFi) protocol that is backed by Multicoin Capital, has reportedly been exploited. According to a popular DeFi monitoring resource, the total value locked (in USD) in dForce, was reduced from around $25 million to almost nothing in a matter of hours. DeFi Lending Protocol Exploited A well-known DeFi protocol, dForce...Read More
Over the past days since Thursday, we saw Bitcoin safely trading about the $7000 mark. During last Thursday, Bitcoin surged to over $7K, breaking above the critical 50-days moving average line (marked pink on the following daily chart). Since then, and together with the bullish wind form Wall Street (3% gains on Friday), Bitcoin topped...Read More
Ethereum witnessed a 7% price increase today as the cryptocurrency reaches the $182. Three days ago, Ethereum surged over 15% from the $150 level to reach the April resistance at $175. Against Bitcoin, Ethereum is performing very well after creating a fresh April high at 0.0247 BTC. Key Support & Resistance Levels ETH/USD: Support: $165,...Read More
One of the world’s leading cryptocurrency asset management companies, Grayscale Investments, has registered its strongest quarter to date. Despite the violent price developments in the market, the firm has raised over $500m, and its 12-month product inflow crossed the $1b mark for the first time. Grayscale On The Rise According to the quarterly report published...Read More
In less than a month, the third Bitcoin block halving, arguably the most anticipated event in the crypto space as of now, will take place. After the halving, the reward that miners receive for verifying transactions and maintaining the Bitcoin network will be cut in half. In theory, the price of Bitcoin should increase after...Read More
The total value transferred on the Ethereum network reached full parity with Bitcoin last week. It’s mainly due to the increasing role of stablecoins in the market as they are responsible for 80% of all transactions on the Ethereum blockchain. Ethereum Network Transfer Value Parity With Bitcoin A publication revealed by Ryan Watkins, a researcher...Read More
The time until Bitcoin’s halving is slipping away as there are now less than 25 days until the long-awaited event. It will slash the block reward in half and miners and reduce the overall supply of freshly minted bitcoins on the market. According to many, and to history, this is a major bullish catalyst for...Read More
Bitcoin Bitcoin saw a small 2.6% price increase from where it was trading seven days ago. However, it had dropped substantially throughout the week. The cryptocurrency fell beneath support at the rising trend line to find additional support at the $6,447 level (short term .618 Fib Retracement). From here, Bitcoin rebounded yesterday to climb back...Read More
Binance, the world’s leading cryptocurrency exchange, published a new white paper for a solution called Binance Smart Chain. It’s a new blockchain that will run in parallel to Binance Chain and will also support smart contract functionalities. Binance Announces Smart Chain Blockchain In a recently published whitepaper, Binance announced the development of Binance Smart Chain...Read More
The most widely used American cryptocurrency exchange, Coinbase, reported increased $1,200 deposits yesterday. Interestingly, this coincides with the stimulus checks for the same amount that the U.S. government began sending this week to fight the financial struggles caused by the coronavirus pandemic. Record $1,200 Coinbase Deposits According to data provided by Coinbase CEO Brian Armstrong,...Read More
Bitcoin saw a notable increase in its price yesterday, conquering the $7,000 level, and it did a good job staying above so far. Meanwhile, the futures on legacy markets are also in the green, as news broke out that the Gilead coronavirus drug supposedly shows effectiveness. Bitcoin Price Above $7,000 As Cryptopotato reported yesterday, Bitcoin...Read More
Andrew Yang, an American politician, part of the Democratic Party and a former runner for the 2020 US Presidential Elections, voiced his concerns with the current stimulus package that the country rolled out. According to him, the amount sent to people should be higher. Andrew Yang Calls For $2,000 Per Month Stimulus A recent report...Read More
XRP saw a 3% price increase over the past 24 hours of trading, as the cryptocurrency attempts to break $0.19. XRP penetrated beneath a rising trend line but managed to find strong support at $0.18, which allowed it to rebound. Against Bitcoin, XRP is struggling after meeting the 100-days EMA resistance to trade at 2700...Read More
EOS touched $2.74 after bouncing back with a 10% gain over the last 12-hours Against Bitcoin, EOS price was rejected sharply after attempting to break-through the 3800 SAT resistance. If EOS fails to find a rebound level at $2.6, the bears may resume pressure inside the hourly descending channel. EOS bulls continue to weaken at...Read More
YouTube continues to restrict, and outright ban accounts, producing cryptocurrency-related content. In its latest strike, the popular video content sharing platform closed the account of one of the most popular Bitcoin analysts and vocal members of the community, Tone Vays. Crypto Analyst Tone Vays Banned on YouTube The largest video content sharing platform, YouTube, continues...Read More
Litecoin could start fresh increase if buying pressure increases above immediate resistance Against USD, Litecoin is following a lower low and lower high pattern on the 4-hours chart A break below 0.00585 BTC support may cause serious bearish action for the LTC/BTC pair, but a triple bottom pattern is much likely to play out. LTC/USD:...Read More
