Even though Bitcoin moved closer to the $34,000 level and saw some positive movement on the charts, some altcoins remained cautious and awaited stronger cues for a more definitive move. Such was the case with ETH and TRX, both of which were moving sideways at the time of writing. On the other hand, SUSHI showed...Read More
Litecoin failed to rise above its 200-SMA and traded close to its support at $130. Tron seemed to be under a correction as prices cooled off after touching a local high. Elrond snapped yet another all-time high, but the indicators pointed towards a bearish pullback. Litecoin [LTC] Source: LTC/USD, TradingView Litecoin was unable to break...Read More
Even though the Bitcoin market is looking for a way to stabilize, the altcoins are seen marching higher above the price candles. Most altcoins were noting high volatility as the trend in the market changes. Binance Coin [BNB] Source: BNBUSD on TradingView The Binance Coin [BNB] market has been witnessing the price note higher highs...Read More
At the time of writing, Bitcoin was back at square one trading within the $32,000-$34,000 range, after the Elon Musk-inspired hike exhausted itself. What effect did BTC’s short-lived performance have on the rest of the altcoin market? Well, a few alts followed BTC’s lead, while a few others continued to consolidate on the charts. On...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice The Monero market like most altcoin markets remained largely unaffected by Bitcoin’s price activity yesterday, and despite a small drop it remained above its crucial support. Although there has been a development of a...Read More
The consolidating Bitcoin market was shaken out with one mention from Elon Musk on Friday. However, shortly after the 20% appreciation, the price turned around and fell almost to the pre-pump level. Despite the wild market movement, the on-chain metrics of BTC held strong. The Bitcoin network has been active and processing the second-largest transaction...Read More
Thanks to Bitcoin’s dominance and overwhelming market share, most altcoin movements are correlated to the fortunes of the world’s largest cryptocurrency. At press time Bitcoin was trading at $33,739 with a 24-hour trading volume of $82.8 billion. Source: CoinStats However, such correlations aren’t uniform or consistent, with the previous week providing evidence of the same....Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice The value of Bitcoin has been moving along its current support levels and trying to consolidate around $33k. The sudden pumping of its price against all predictions has provided BTC another chance to test...Read More
Bitcoin’s price rallied to $37900 and as momentum built up, the asset was ready to cross $40000 with a 17.8% increase in a single day. However, a sell-off led to a price drop to $33000 level. As Bitcoin rallied there were metrics that offered buying opportunities and shorting opportunities throughout the rally, on the way...Read More
Chainlink traded close to the $22.24 support mark and flashed bearish signals at the time of writing. CRO moved below $0.06 support and the indicators suggested that it could topple yet another support level over the coming sessions. On the flip side, IOTA noted some bullish activity and looked to break above $0.51 resistance. Chainlink...Read More
It has been a little over 24 hours since Ripple released its official response to the SEC lawsuit. Since then, Ripple’s native crypto asset XRP has rallied by over 18% and was trading at around $0.33 at the time of writing. Among the many legal experts evaluating Ripple’s response was Attorney Jeremy Hogan who highlights...Read More
Bitcoin has evolved in many ways over the past decade, and so has the crypto-market. What was once considered to be ‘Internet money’ is now being considered by serious institutional investors, giving BTC and the crypto-market a certain sense of credibility. Over the said period, the suspicion surrounding digital assets, as portrayed in the media...Read More
Cardano’s price may have been weakened by capital outflows as the price moved southbound and close to $0.339 support while Dogecoin witnessed strong selling pressure as the price tumbled by over 40% in the past 24 hours. However, VeChain could move within its fixed channel if momentum fails to sway in either direction. Cardano [ADA]...Read More
Grayscale, one of the world’s largest digital asset managers, has reopened its Ethereum trust to investors. At 4 PM EST, an announcement confirmed that the Grayscale Ethereum Trust had resumed the private placement of its shares. As of 4 pm EST today, Grayscale Ethereum Trust resumed the private placement of its shares. The Trust’s private...Read More
Bitwise added AAVE and UNI to the Bitwise 10 Large Cap Crypto Index (BITX) that tracks the total return of the 10 largest crypto-assets, as measured and weighted by free-float market capitalization. These assets were added as part of Bitwise’s January month-end rebalance, in response to the growing demand for decentralized services. Bitwise CEO Hunter...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice The financial markets around the world have been shaken by the actions of a group of organized Redditors. The cryptocurrency market also witnessed a sudden push with regard to Bitcoin’s value with Elon...Read More
The Chainlink network has been growing at a drastic speed and these developments have caused the price of its digital token, LINK to rise. The asset’s value had been marching higher and hit an all-time high in January 2021 at $27.64. The usability of the Chainlink network will add to the momentum in the market....Read More
The last 7 days have been very interesting, to say the least, for the crypto-market. While for most of the week the market seemed destined for more consolidation, Bitcoin bucked the trend after the Musk-driven hike yesterday. While the world’s largest cryptocurrency was back at square one at press time, it should be noted, however,...Read More
Although major entrepreneurs have shown their support for Bitcoin, regulators, at least in Ireland, seem to have taken a step away from the asset. According to the governor of the Irish central bank, Bitcoin investors must be prepared to “lose all their money.” The governor, Gabriel Makhlouf said he was worried about consumers making the...Read More
It looks like Bitcoin is getting closer to mainstream adoption. Now that even Elon Musk endorsed the popular asset on his Twitter bio, the asset’s price surged by 19% to reach $37,000 during the day. However, in the last hour, at press time, the digital asset fell by 2.6%, which gave many a reason to...Read More
The XRP market was shaken by the SEC’s lawsuit against Ripple after it alleged that one of the market’s top cryptocurrencies is a security. Since then, while XRP has been delisted and suspended from trading by various exchanges, the community sentiment remains positive. In fact, Ripple has made XRP-based solutions available to multiple financial institutions,...Read More
Chainlink recovered from the bearish divergence it exhibited a few days ago and rose back above a zone that was one of supply a week ago. Neo struggled to replicate this feat even though it had strong buyer interest behind it. Finally, Enjin retraced some gains from the past month. Chainlink [LINK] Source: LINK/USD on...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice Tezos has been largely dormant in the markets since the month of September. While Etheruem’s surge past $1,000 in early January sparked some life into Tezos, it was still not enough for XTZ to...Read More
With Bitcoin continuing to consolidate between the $33,000 and $35,000 price levels at press time, there was a slight lack of bullish momentum in the crypto-market, when compared to previous weeks. However, the trend has not always been uniform across the altcoin market. In fact, over the past 24-hours, popular altcoins like Monero, SNX registered...Read More
According to a recent research report by Bridgewater Associates, Bitcoin’s price could theoretically rise by at least 160% if allocations towards gold are diversified into Bitcoin instead. Exploring a hypothetical scenario where investors move some portion of their gold holdings into the cryptocurrency, the Bridgewater analysts concluded that this would hike the price of the...Read More
Following US Securities Exchange Commission’s (SEC’s) allegations against Ripple Lab, the San Francisco-based firm has filed its answer to the Commission’s lawsuit in federal court. The response from Ripple and its executives Brad Garlinghouse and Chris Larsen called into question the complaint filed by SEC. Ripple and the co-founders claimed the allegations were an “unprecedented...Read More
Bitcoin has grown by leaps and bounds over the past year. However, as is often the case, growth and attempts to regulate often go hand-in-hand, with the past year also seeing increasing efforts at regulating the crypto-market in a bid to curb bad actors and crimes like money laundering. Towards the end of 2020, the...Read More
Bitcoin’s price, over the past 24 hours, has been on a very topsy-turvy journey, with its sideways movement punctuated only by an unexpected Elon Musk-triggered hike on the charts. On the contrary, most of the market’s altcoins continue to trade in narrow channels. For coins like Tron, Aave, and Crypto.com Coin, such has been the...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice Litecoin‘s price was forming lower highs on the charts, suggesting the end of an uptrend in the medium-to-long term. However, in this lower high set up, the price formed a bullish pattern. A bounce/close...Read More
Open interest in Bitcoin Futures is back to above $10.3 billion, a figure the charts last noted well before its most recent ATH. Interestingly, with Bitcoin trading at just over $35,500 at press time, one can also see that institutional demand for Bitcoin hasn’t dropped completely either. In fact, it is around to support Bitcoin...Read More
