High volatility hit the cryptocurrency market with sharp declines from across the map. Bitcoin’s price dropped to a daily low of $5,600 in a matter of minutes. During this period, BitMEX had noted long liquidations worth almost $500 million in an hour. BitMEX Liquidation Chart Off The Roof Bitcoin’s price recorded a massive dump from...Read More
Until a few hours ago, Chainlink, the decentralized-oracle, had a market cap of over $1 billion as the 11th biggest cryptocurrency by market cap. Today the LINK token is among the worst-performing digital assets, following a massive price slump. Its situation got even worse on Binance, where it flash-crashed to a low of $0.01 (!)...Read More
Bitcoin dipped to a low of $5,600 on BitMEX for a matter of minutes, while most cryptocurrencies record double-digit losses. The whole market is plummeting, as the market lost over $50 billion in only a few hours. Bitcoin Goes Below $6,000 It’s safe to say that the largest cryptocurrency has seen better days. Bitcoin’s price...Read More
Ethereum fell by another 14% over the past 24 hours of trading as the cryptocurrency briefly slips to $160. This is a 35% drop over the past four days. The cryptocurrency dropped beneath the $190 support today, primarily driven by the new coronavirus financial crisis. Against Bitcoin, ETH broke beneath the previous strong support at...Read More
When Satoshi Nakamoto sat down to write the whitepaper of Bitcoin, he (or she) prepared precisely for today’s coronavirus situation. The idea of Bitcoin was born after the latest devastating real-estate financial of 2008. All experts were eyeing this day. However, over the past weeks, Bitcoin is attaching its value to the global markets. This,...Read More
President Donald Trump announced a ban on all travel from Europe Wednesday. The ban will go into effect on Friday at midnight and remain in effect for 30 days. The president did announce an exemption for travel from the United Kingdom. Announcing a rare Oval Office address from Mr. Trump, he said: “After consulting with...Read More
Litecoin trades around the lower boundary of a falling wedge pattern and might find support here. Against Bitcoin, Litecoin continued to lose momentum after facing strong resistance around 0.006375 BTC earlier today and getting rejected. If the price drops below the immediate support, a further decline may develop from this point. LTC/USD: Litecoin Remain Trapped...Read More
Euro Pacific Capital CEO and chief global strategist Peter Schiff warned the coronavirus recession would be worse than the 2008 financial crisis. Furthermore, in a terrifying tweet Wednesday, the US dollar bear and gold bull diagnosed the underlying problem in both crises. He argued the coronavirus pandemic and the crashing housing market were the pins...Read More
The constant expansion of the coronavirus continues to harm the global economic markets. Monday’s severe stock sell-off pushed the UK to cut the interest rates, a week after the US did the same. As a result, Europe stocks are in the green as of writing these lines. Wall Street’s major indexes opened Wednesday’s trading in...Read More
XRP is attempting to recover from this weekend’s market capitulation after a price increase of approximately 7% from this week’s low. The cryptocurrency encountered resistance at $0.22 yesterday and quickly retraced back to the current price of $0.207. Against Bitcoin, XRP also recovered remarkably well as it swings back above 2650 SAT from a closing...Read More
Over the past two days, we saw Bitcoin continued its correlation with Wall Street. After reaching a 2-month low at $7600, and finding support upon the historic trend-line, Bitcoin recovered to $8150, however, just like the Wall Street futures, BTC price lost momentum and now trading roughly around $7800 – $7900. In the bigger picture,...Read More
Tezos saw a slight bounce back following a daily 10% price increase. Against Bitcoin, Tezos might be forming a bull flag pattern. XTZ/USD: Tezos Bounced, But Remains Short-term Bearish Key Resistance Levels: $3, $3.9 Key Support Levels: $2.3, $2 Following this week’s bearish start, XTZ saw a massive drop of 18% to a three-week low...Read More
The recent volatility in the global markets and the cryptocurrency markets has raised most trading volumes. Bitcoin options, for instance, reached a new all-time high yesterday. The futures market also saw a massive jump in the volume, as Binance Futures breaks its all-time high record. Bitcoin Options Volume Soars The past several days have been...Read More
Last week’s decision from the Supreme Court of India to lift a two-year-old ban on cryptocurrency usage already has a positive impact on the local business scene. Kraken, a leading veteran U.S.-based digital asset exchange, announced plans to invest resources in the Indian market. Kraken Recommits To The Indian Market The veteran San Francisco-based exchange,...Read More
Supreme Court overruling Crypto Ban on India is bringing Crypto exchanges back. Kraken Exchange announced its recommitment to the Indian market. Dawn of a new Crypto Era in India is Inevitable The Crypto industry had suffered a huge loss during the 2-year RBI vs Crypto ban. However, Indian crypto heaved a sigh of relief once...Read More
The pro-Bitcoin current Twitter CEO, Jack Dorsey, will remain at his position after a $2 billion deal. The news came just a few weeks after the founder of Elliott Management Corp, Paul Singer was reported to replacing him. Jack Dorsey Stays As Twitter CEO At the end of February, reports informed that Elliott Management had...Read More
The cryptocurrency market plunge started during the weekend and continues as of writing these lines. Bitcoin dumped with over 15%. Naturally, the general sentiment among the crypto community has changed. Some speculate that the 2020 bullish trend is now over and that investors should prepare for even worse consequences. Market Sentiment Follows The Price It’s...Read More
The cryptocurrency market tumbled over the weekend, and it brought a wave of familiar negative voices. The two famous American economists, Nouriel Roubini and Peter Schiff, quickly took the opportunity to bash Bitcoin for not being a proper hedge during the current economic turmoil. Dr. Doom Against Bitcoin With the rising impact of the coronavirus...Read More
XRP dropped by 9.5% over the past 24-hours of trading as it falls back into the $0.20 price levels. Yesterday, the cryptocurrency broke down an ascending supporting trend line and completed an 18% drop since then. Against Bitcoin, XRP dropped toward 2400 SAT to create a fresh 6-month low but has since recovered back above...Read More
PayPal CTO, Sri Shivananda, believes that cryptocurrencies still have a long way to go in terms of mass adoption. While endorsing India’s digital asset ban removal, he noted that most consumers view them as assets instead of applicable currencies for actual payments. Crypto Needs More Use-Cases Sri Shivananda, the CTO of PayPal – one of...Read More
Ethereum dropped a steep 12% over the last 24-hours as it sinks into support at $205. The cryptocurrency initially climbed into the $250 resistance before severely rolling over and crashing toward the 100-days exponential moving average. Against Bitcoin, Ethereum also dropped but found support at the 0.0247 BTC level. Key Support & Resistance Levels ETH/USD:...Read More
Confirmed coronavirus cases continue to grow globally. The Saudi Arabia Kingdom launched an unexpected oil price war against former ally Russia. As a result, the traditional financial markets are plummeting severely. At the same time, Bitcoin showcases a positive correlation with them and drops below $8,000 – for the first time since January 2020. The...Read More
The economic situation is starting to feel well the coronavirus effects. As of writing these lines, Crude Oil plunges 30% to a 3-decade low. NASDAQ futures are forecasting another 5% plunge, while London crashes 7%. What started yesterday as the PlusToken Ponzi’s sell-off, continued today to a massive collapse. The question is whether Bitcoin is...Read More
After a six-day recovery, Cardano resumes selling pressure following a daily 8% price drop Against USD, Cardano sharply broke below a weekly triangle pattern, after two days of consolidation Against BTC, A breakdown below 530 SAT level could likely send ADA to discover new lows ADA/USD: Triangle Breakdown Followed by Huge Selloff Key Resistance Levels:...Read More
One of the most significant cryptocurrency fraudulent projects from the past few years recently tried to launder another 13,000 bitcoins. To do so, the perpetrators used numerous mixing services. Shortly after, the price of Bitcoin plunged by $500 in a matter of hours, and the question remains if this is the reason behind the drop. PlusToken...Read More
Things happen fast in crypto. Yesterday’s analysis focused on the tight range of $200 Bitcoin was trading inside over the past days. We had clearly stated in yesterday’s analysis that a huge price move is imminent. Just a few hours after, and Bitcoin made the anticipated move. As in crypto, Bitcoin price first went to...Read More
The competition in the field of Bitcoin margin trading exchanges continues to rise. Despite that, though, the 2014- established BitMEX exchange is recording an impressive year so far. It shows a healthy average daily volume and a notable Bitcoin wallet balance rise in the past few months. BitMEX Numbers In 2020 The popular monitoring resource,...Read More
XRP concludes the week with a minor 2.3% price increase, while Bitcoin increased 5% and Ethereum 7.7%. The cryptocurrency has failed to break above the current range as it faces resistance at $0.245 Against Bitcoin, XRP continues to trade sideways between 2710 SAT and 2640 SAT. Key Support & Resistance Levels XRP/USD: Support: $0.235, $0.227,...Read More
Last Thursday, Bitcoin broke out a triangle pattern, the second in the same week, as can be seen on the following 4-hour chart. The breakout initiated an immediate $400 price gain, surpassing the $9000 benchmark level. Over the past two days, after breaking above the $9K mark, we saw Bitcoin trading in a tight range...Read More
Almost half of today’s active traders made their first-ever cryptocurrency trade back in 2017, according to a recent poll by Binance. At the same time, the number of pre-2017 traders is less than 30%. When Crypto Traders Entered The Market The world’s leading cryptocurrency exchange by volume, Binance, recently initiated a compelling survey. The question...Read More
