Ripple is back at the center of attention of the cryptocurrency community after a group of Redditors responsible for pumping failed stocks of GameStop and AMC Corporations choose to orchestrate the same buying frenzy for the blockchain firm’s native token XRP. The last four days have witnessed the XRP/USD exchange rate jump from $0.23 to…
Bitcoin prices raced towards $35,000 as European investors woke up to Elon Musk’s latest cryptocurrency endorsement. The BTC/USD exchange rate rose as much as 4.8 percent during the Asian and early European session to hit an intraday high of $34,728. That followed a 2.63 percent jump last week that closed January at a 14.13 percent…
Bitcoin bulls should brace for a wild upside run towards $41,000. According to Scott Melker, crypto trader and host of WOAS Podcast, the cryptocurrency’s sharp rebound from $32,000 to above $38,000 confirmed two textbook bullish reversal indicators: Double Bottom and Falling Wedge. Bitcoin Double Bottom Starting with the Double Bottom, Mr. Melker highlighted two consecutive…
Elon Musk has changed its Twitter bio to one word: Bitcoin. The billionaire entrepreneur, whose opinion of the benchmark cryptocurrency has juggled between skepticism and praise, appeared to have taken a definite stance about it. In a tweet that followed shortly after the bio update, Mr. Musk said that “in retrospect, it was inevitable.” That…
A breakdown below the Descending Triangle support can technically send Bitcoin towards $20,000. Source: BTCUSD on TradingView.com A breakdown below the Descending Triangle support can technically send Bitcoin towards $20,000. Source: BTCUSD on TradingView.com Short-term fundamentals favored bears. Bitcoin’s rebound from $30,000 came when the US stock market logged its worst one-day performance since October.…
Chainlink (LINK) was soaring high in the early European trading session Thursday as traders continued to seek hedge in the cryptocurrency market against a choppy Bitcoin. The LINK-to-dollar exchange rate surged to $24.9, up 15.16 percent from its intraday opening value. The latest upside appeared near a confluence of supports around the $19-20 price range,…
Bitcoin extended its pullback from its weekly high of $32,960 on Wednesday as the market’s focus shifted on the Federal Open Market Committee’s first meeting of 2021. The flagship cryptocurrency dropped to an intraday low of $30,818, down about 5.5 percent from its opening rate. The appetite for riskier safe-havens weakened against a stronger US…
Bitcoin bulls should brace for a bearish impact as three of the leading on-chain indicators unanimously warn about potential sell-offs in the spot market ahead. CryptoQuant, a South Korea-based blockchain analysis firm, highlighted the latest readings on their proprietary metrics, one of which studies large BTC outflows from miners’ wallets and the other over-the-counter BTC…
A piece of excerpt allegedly taken from a JPMorgan & Chase’s report is warning its clients about a potential “liquidity shock” in the Bitcoin market. The extract praises the cryptocurrency industry for improving its on-screen liquidity better than traditional asset classes on a relative basis. Nevertheless, it simultaneously warns about how most such liquidity provisions…
Bitcoin resumed its uptrend ahead of the New York session Monday as traders weighed their risk-on opportunities against the US President Joe Biden’s stimulus plans and its potential bearish impact on the US dollar. The flagship cryptocurrency reclaimed $34,500 after rising by as much as 6.83 percent, while its market capitalization pushed past $636 billion.…