Archive for June 2020
Ethereum Struggles to Flip Crucial Trendline as Analysts Eye Move to $120
Ethereum’s price has been sliding lower over the past several days Despite Bitcoin being able to maintain above the lower boundary of its long-held trading range, ETH is now trading firmly below the range it formed over the past several weeks This points to some underlying weakness amongst its buyers which comes as it nears…
Read MoreWells Fargo Warns Of Stock Shock From Biden Win, How Would Bitcoin Behave?
Past data shows that Bitcoin bull market breakouts typically happen following a US Presidential Election. However, Democratic party candidate Joe Biden has recently overtaken Trump in the polls – something Wells Fargo warns could shake up the stock market. And with Bitcoin tightly correlated to the stock market, a Biden win could be harmful to…
Read MoreRich Dad Poor Dad Author Promotes Bitcoin: “Federal Reserve Is Dead”
There are many investors that are still hesitant to get involved with Bitcoin. They make comments like cryptocurrencies are hard to own, BTC is for criminals, and other sentiments along those lines. Yet a prominent financial educator and entrepreneur says that owning Bitcoin, silver, and gold is a wise decision. Here’s why he thinks so.…
Read MoreBitcoin Braces for Turbulent Week Ahead: Three Reasons Why
Bitcoin fell 0.31 percent in the early Monday session. The cryptocurrency’s plunge followed a similar downside move in the S&P 500, validating its growing correlation with the U.S. index. It now awaits a bumpier weekly session ahead as investors measure the resurgence of virus cases in the U.S. against critical economic reports releasing this week.…
Read MoreNo, Bitcoin Breaking Below $9k Was Not a Bearish Breakout: Analyst
On Saturday, Bitcoin finally broke below $9,000 after a week of consolidation. When the asset slipped under this level, more than $20 million worth of longs on BitMEX were liquidated. This was in addition to the more than $40 million liquidated just two days earlier. Many were quick to flip bearish as BTC temporarily lost…
Read MoreThis Signal Last Seen Before Ethereum’s 60% March Crash Is “Inches Away”
After days of consolidation, Bitcoin, Ethereum, and the rest of the crypto market have finally broken down. The flagship cryptocurrency tanked from the $9,100 base to a low of $8,830 for a loss of 3%. Ethereum registered similar weakness, decisively slipping under $220 for the first time since the end of May. While it is…
Read MoreFund Managers Double Down on Anti-Ethereum Sentiment: Here’s Why
Ethereum, the network not the cryptocurrency, has seen an eruption in adoption and usage over recent weeks. Blockchain analytics firm Santiment reported that the number of new addresses on the network is passing 100,000 per day. This is slightly shy of the 116,000 per day year-to-date high but still impressive. Santiment further explained: “Ethereum’s network growth…
Read MoreAs Jobless Claims Soar, Bitcoin’s Mid-Term Outlook Remains Gloomy
The United States has seen rocketing unemployment, and it does not appear that this trend is slowing down even as many states and cities begin reopening This signals that the recent shutdowns have done severe damage to the economy, despite the stock market sitting around its all-time highs New data shows that although the number…
Read MoreEthereum Narrowly Avoids a Breakdown; Here are the Levels to Watch
Ethereum and the entire cryptocurrency market faced some turbulence yesterday as Bitcoin declined beneath its range lows of $9,000 This movement proved to be short-lived, as the buying pressure found here quickly propelled the cryptocurrency back up into its long-held trading range Although this hasn’t provided the markets with any clear direction, it did allow…
Read MoreWhy Tomorrow’s $1B Bitcoin Options Expiry May Not Trigger Any Volatility
Tomorrow, $1 billion worth of monthly and quarterly Bitcoin options will be expiring This will be the largest options expiry that BTC has ever seen Some analysts believe that the event will spark some massive volatility That being said, the sharp downwards movement seen yesterday evening may have actually been the movement that was widely…
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