Filecoin dropped ahead of hitting its previous record high, near $273.57, prompted by profit-taking among traders. FIL Market Outlook The FIL/USD exchange rate slipped closed Thursday down 2.82 percent despite logging its second-best historic level of $239.94 in the same session. Traders started securing their profits at the local top amid falling bids, leading to…
Bitcoin underwent a mini flash crash on Wednesday as its price fell from $59,400 to nearly $57,000 in just five minutes of trading. Analysts blamed overleveraged long positions for the downside move, with the plunge liquidating about $600 million worth of extended bullish contracts across major futures exchanges. The wipeout followed up with a short…
Bitcoin prices rose aggressively heading into the European session Monday, breaking above $58,000 as traders pinned their hopes on another all-time high milestone ahead. The benchmark cryptocurrency was changing hands for $58,146 at 10:18 UTC, up 4.25 percent from its intraday open. A record expiry of $6 billion worth of options contracts on Friday helped…
Key Bitcoin Points Bitcoin rose ahead of the New York opening bell on Tuesday. Traders flocked to re-accumulate the cryptocurrency as it reached a classic support level. Trading inside a short-term falling wedge, bitcoin now anticipates extending its rebound towards $58,000. Bitcoin climbed higher ahead of the US trading hours Tuesday after dipping to $53,000…
IOTA rallied Tuesday, hitting its highest levels in more than three years, on hopes that the upcoming makeover of its Internet-of-Things protocol would make it more appealing to investors and traders alike. The IOTA Foundation Co-founder and CEO Dominik Schiener spilled details about their major upgrade—scheduled for an April 2021 release—in an interview with ZDNet. Dubbed…
Key Bitcoin Takeaways A South Korean media outlet reported that Morgan Stanley plans to acquire Bithumb, a local bitcoin exchange. The news surfaced two days after the American banking giant decided to offer three Bitcoin funds to its rich clients via its traditional investment platform. Bitcoin recently surged above $61,000 on higher institutional demand, up…
Cardano gained some positive traction in the early European trading hours Friday after erasing more than half of its bullish breakout move in the previous session. The blockchain asset, better known by its ticker ADA across markets, climbed more than 2.25 percent to $1.25 into the ongoing intraday session. Its move uphill started near a…
Bitcoin has walked away from pursuing a lengthy downside correction repeatedly this year. The cryptocurrency’s run-up to $58,367 in February attracted a modest selling pressure as the price dipped by 26.30 percent afterward. Similarly, its previous rally above a then-record high of $41,000 followed up with a 30 percent bearish correction. Last week, Bitcoin achieved…
Ethereum, the second-largest blockchain network by valuation, has the potential to jump to replace Bitcoin to become the top digital asset, says Ryan Watkins of Messari. The senior research analyst cited a flurry of catalysts that could lead to the so-called flippening event. Firstly, Ethereum’s full protocol upgrade to proof-of-stake from proof-of-work blockchain would lead…
Bitcoin expects to extend its prevailing bull run in the sessions ahead just as the US begins another vast spending program, including direct payments to its citizens who will receive up to $1,400 per person depending on their income and tax filing returns. The flagship cryptocurrency’s prospect of hitting new highs rose after a Deutsche…