Bitcoin is facing selling at the $14,000 mark and this has resulted in several cryptocurrencies dropping below their support levels. China’s central bank governor Yi Gang has said that the nation’s digital yuan pilot projects have processed transactions worth over $299 million without any major problems. This suggests that China is much ahead of its […]
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Bitcoin’s consolidation near a key overhead resistance is a sign of strength but the technical structure of most altcoins has weakened. Bitcoin’s (BTC) dominance has risen from about 56% in early September to above 63%. This suggests that the market participants may be rotating their investments out of altcoins to buy Bitcoin. Due to this, […]
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Altcoins took a serious hit as Bitcoin dropped below $13K today, meanwhile, BTC’s macrostructure remains bullish. The equity markets across Europe closed deeply in the red and the U.S. markets are also witnessing intense selling pressure as investors fear a rise in COVID-19 cases could stall the fragile economic recovery. This increasingly negative sentiment has […]
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Bitcoin and altcoins are showing signs of short-term exhaustion, meaning a few days of consolidation could occur. Morgan Creek Digital co-founder Anthony Pompliano highlighted data from Santiment, which showed that the 30-day rolling correlation between Bitcoin (BTC) and the S&P 500 is 0. Pomp stressed that the lack of correlation shows that Bitcoin is a […]
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Bitcoin remains in an uptrend but is facing signs of exhaustion above $13,200, suggesting that a minor correction could drag altcoins lower. Hot on the heels of Paypal’s crypto adoption, JPMorgan’s Global Markets Strategy division released a report detailing how Bitcoin (BTC) could offer “considerable” upside “if it competes more intensely with gold as an […]
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Is Ethereum’s recent bullish online sentiment good or bad? Short-term holders are now in the black, is a ‘sell zone’ approaching? The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicates that discussions around Ethereum have switched from highly bearish to predominantly bullish. Historically, this hasn’t meant good news for the token’s price. […]
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Just don’t use work resources for personal gain. A former government contractor in Australia who mined crypto using state-owned supercomputers has avoided jail time. According to The Sydney Morning Herald, Jonathan Khoo was ordered to complete 300 hours of community service for installing code on two supercomputers run by Australia’s Commonwealth Scientific and Industrial Research […]
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Ethereum price corrected 13% but derivatives data still support a $500 Ether price. Today’s Ether (ETH) 10% dump caused its annualized futures basis to adjust after flirting with extremely optimistic territory. The basis indicator compares futures contracts price to the current level at regular spot exchanges. Healthy markets usually display a 5% to 15% annualized […]
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The price of Ether hits a 19-month high against Bitcoin as user activity on Ethereum spikes to multi-year highs. As the price of Ethereum’s Ether (ETH) surpassed $450, a huge buy wall on the major cryptocurrency exchange Bitfinex emerged. Shortly thereafter, ETH achieved $270, a 19-month high against Bitcoin (BTC). The price of Ether against […]
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Several signs are pointing to a new bear market for Bitcoin as mining chip manufacturers are feeling the pinch from the halving and the global economic downturn. Bitcoin (BTC) has failed to challenge the multi-year resistance of $10,500 since the beginning of June 2020. This extended period of chop will ultimately result in one of […]
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