Cardano appeared to be forming a bullish reversal pattern, although it could take several more days to give concrete confirmation signals. Tezos formed a continuation pattern and was likely to register more losses. Dogecoin exhibited a hidden bearish divergence and could be forced to test support once more, and perhaps break beneath as well. Cardano...Read More
A total of $29.85 billion has been erased from Bitcoin’s market capitalization since the last peak on August 18, 2020. This decline has led to speculation if the ongoing market is bullish and wild price swings have come from BitMEX or other top exchanges, or is it bearish. Bitcoin’s price is in the $10.3-$10.6k range...Read More
Litecoin has seen a fair amount of surges in the past week or so, however, these profits were wiped off equally quickly. At press time, LTC is trading at $46.37 and presents an ambiguous situation about its near future. Litecoin 1-day chart Source: LTCUSD TradingView The 1-day chart attached above showed Litecoin forming a symmetrical...Read More
Litecoin was moving within an ascending channel and had reclaimed a level of resistance recently. Stellar Lumens faced heavy selling pressure and was likely to see a drop in value. Basic Attention Token trended upward for a period of nearly two weeks before the trend exhausted itself and bears seized control. Litecoin [LTC] Source: LTC/USD...Read More
Bitcoin has many rivals. But the one it really wants to displace is gold. Gold has been an investing ‘safe-haven’ for centuries, but digital gold is challenging its claim. The cryptocurrency claims to have more real-world transact-able value than gold. And what’s more, it can be easily stored, sent across the globe, and used as...Read More
Ethereum 2.0, or the lack thereof thus far, has been making the news of late. For people actively following its progress, the ETH Online Kickoff Summit, which saw the likes of Vitalik Buterin and Danny Ryan discussing the development shed some light on the path to scaling ETH 2.0. Source: ETH Online Kickoff Summit A...Read More
Bitcoin active supply with a 1-day Moving Average has hit a 22-month low. The last time when BTC supply dropped to this level, the price was in the $3.5 to $3.7k range. Since the last week of September 2020, miners started HODLing and this has changed the dynamics of supply. At $409 million, BTC inflow...Read More
Chainlink made two attempts at an important region of resistance last week, but was rejected on both tries and could be set to post losses over the coming days. Cosmos could face rejection at its resistance once more but could post some gains in the short-term while VeChain was forming a bearish pattern and could...Read More
Tether’s market capitalization is 47% higher than XRP and it ranks third, after Bitcoin and Ethereum. Despite being shrouded in controversies, it has led the stablecoin market and added $100 million in market capitalization every day since July 2020. Tether reserves on exchanges dropped in August 2020, however, there was a recovery above the 1.5...Read More
The start of October has been an unceremonious one for Bitcoin SV with the price unable to break away from its $150-$160 range. With the trend appearing a little less bullish every single day, the market had its hopes pinned on Bitcoin or Ethereum to trigger a rally. Although price-wise the top two assets were...Read More
Bitcoin rose from $10,550 to $10,750 in the past 24 hours but selling pressure pushed BTC’s value to $10,660 at press time. Source: CoinStats Binance Coin was bullish in the markets while Zcash can expect a minor pullback in the next few trading sessions before another attempt at resistance. Dash might be set to lose...Read More
According to data recently published by Santiment, the social volume of Ethereum is nearing six-month low levels across social discourse platforms. This would imply that traders are looking for volatility elsewhere to trade. Ethereum Social Volume vs Price Chart Source: Santiment It would appear that ETH’s social volume has been declining since its 2020 peak...Read More
September was an eventful month for the crypto-market, to say the least, with the month seeing a major crypto-exchange hack among a host of other developments. However, despite the quarter ending as it did, Bitcoin did witness its second-best Q3 close in history. $150M drained from KuCoin: BTC down 1% BitMEX charged by DOJ, CTO...Read More
Bitcoin’s price responded to the CFTC’s charges against BitMEX by losing $300 of its value in a single day. While the anticipated corrections did take many by surprise, Bitcoin’s price soon steadied itself, with the cryptocurrency trading around the $10.5k range, at press time. That’s not all, however, as Open Interest hit new lows on...Read More
Tezos was trending upwards for a brief period, before the market’s sellers imposed themselves yet again on the order book. In the long-term, its fundamentals were developing pace and could rekindle buyers’ interest. STEEM formed a bearish reversal pattern and sought to defend its level of support on the charts. On the contrary, IOTA noted...Read More
Ethereum Classic aka the zombie coin could yield good profits in the near future. How so? Well, this could be a side effect of Ethereum’s transition from PoW to PoS. Wait, is calling Ethereum Classic a zombie coin a little too much? Perhaps, but then again, the coin has suffered three 51% attacks, only to...Read More
BitMEX was in the eye of the storm this past week after U.S regulators took its case. The charges brought by the CFTC against BitMEX argue that the exchange facilitated cryptocurrency derivatives transactions with an aggregate notional value of trillions of dollars and failed to implement the most basic of compliance procedures required of financial...Read More
XRP’s buyers and sellers have been locking horns for a few weeks now, but neither party has been able to wrest control of the market from the other. While Ethereum Classic was on a gentle downtrend, positive updates that reportedly guard the network against 51% attacks could drive demand up once again. Dogecoin, on the...Read More
Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice At press time, LINK was trading at $9.19, with the cryptocurrency’s price within a bearish channel. Hence, a drop can be expected on the charts. In fact, a recap of Chainlink’s charts shows...Read More
What’s the point of a safe-haven asset? Well, for starters, it’s to keep one’s portfolio safe. Gold has long been seen as the traditional safe-haven asset among traditional investment avenues. Despite Bitcoin being a year into the financial world, it still hasn’t managed to budge the yellow metal. But, is gold doing its job? Let’s...Read More
Bitcoin SV, Polkadot, and FTX Token mirrored the bearish sentiment that has gripped much of the crypto-market over the last few days. In fact, the Crypto Fear and Greed Index highlighted the same, with the index noting a reading of 42 for the day. While this reading was slightly stronger than the previous day’s 40,...Read More
Disclaimer: The findings of the following article are the sole opinion of the writer and should not be considered investment advice After CFTC brought charges against BitMEX for allegedly violating the Bank Secrecy Act, Bitcoin tumbled down the charts and fell by 4%. However, BitMEX took a much harder hit as its OI has since...Read More
Bitcoin was trading at $10,580, at press time. Whether it surges past $11,200 or drops beneath $10,000 to fill the CME gap, either movement could have a major impact on the market’s altcoins. Monero was trending north and recently flipped an important level of resistance to support, with XMR likely to rise higher. EOS toiled...Read More
Everyone involved in blockchain and cryptocurrencies knows that it is a rapidly evolving space. Since the first Bitcoin was mined in 2009, several developments have led to the formation of what is known today as the Crypto-Industry, one characterized by a 24-hour market, DeFi, and over 2000 cryptocurrencies. In light of important present-day developments like...Read More
Bearish sentiment continued to be the norm across the crypto-market, at the time of writing. While Ethereum appeared likely to face further losses on the charts after forming multiple bearish patterns, Ontology continued to slump too. On the contrary, Maker flipped a level of resistance to support and was likely to see more gains in...Read More
The most recent price dump in the crypto-market saw the world’s largest cryptocurrency Bitcoin’s price dive towards the $10,400-level, a movement that signaled worrying signs of bearish divergence across the charts. In fact, Bitcoin SV registered a bearish divergence during the day’s trading session, under a scenario of heavy capital outflows in the BSV market....Read More
Band and Chainlink are both building infrastructure that enables interoperability of smart contracts, and while these are two leading oracle projects in their own right, the rivalry and drama between the two seem to go beyond token sales and market capitalization. Off late, however, every time a DeFi protocol has announced its partnership with Band,...Read More
Once among the market’s top-10 cryptocurrencies, Tezos has steadily fallen on the charts to rest at 17th on CoinMarketCap’s list, at press time. In fact, the market cap for Tezos has dropped from a peak of $3.065 billion in August 2020 to $1.584 billion in October. Despite such a drop in market capitalization, however, investors...Read More
The crypto-market, at press time, appeared to be in a consolidation phase following a massive Bitcoin move to the downside yesterday. EOS, particularly, was noting a decline in its bearishness, while bulls in the Ontology and Maker markets appeared to struggle in warding off a second wave of selling pressure. EOS Source: EOS/USD on TradingView...Read More
Every quarter of the year 2020 has posed a new problem for the cryptocurrency market. With the last quarter now underway, it would seem that the problem in question has surfaced sooner than usual. This, after American regulators entered the game once again and caused panic to seep into the market. After charges against BitMEX...Read More
