Bitcoin faces risks of a short-term, but steep downside correction as Donald Trump threatens to terminate the phase one deal with China.Investor fears that a new trade war with Beijing would escalate the global economic crisis further amidst the Coronavirus-induced lockdown.Losses in the Wall Street index in March influenced traders to liquidate their bitcoin positions…
Bitcoin popped towards its two-month high early on Thursday, breaking above $9,400 amidst halving hype.But the cryptocurrency failed to secure its intraday gains as it corrected lower by about $937 from the local top.The pullback started at the same level that has been capping bitcoin’s upside attempts since the 2017 bull run.It was a glorious…
Bitcoin and the rest of the cryptocurrency space is currently a sea of green after today’s rally added over $20 billion in market cap to the total cryptocurrency market.In less than 24 hours, the total market cap across all cryptocurrencies combined, grew by over 10% thanks to a massive surge from Bitcoin and continued growth…
Stellar Lumens’ native cryptocurrency, XLM, hit a fresh local high, up more than 190 percent in just one month.The extraordinary price rally lacks concrete market fundamentals and relies more on macro crypto trends.XLM reversed after testing a long-term resistance area, hinting it could extend its pullback move as investors shift their focus on Bitcoin ahead…
The short-term moving average on Bitcoin’s daily chart is flattening out.The phenomenon comes after the cryptocurrency hits the highest level since mid-March sell-off.Coupled with favorable fundamentals, such as halving, the MA indicates an extended bull run towards or beyond $9,000.A lagging technical indicator that determines bitcoin’s near-term market bias has flattened out in favor of…
Bitcoin tops near $15,000 on Lebanon P2P marketplaces as the country’s official fiat crashes 50 percent in just a month.The bitcoin rate in international is just above $7,500.Lebanon is facing its worst economic crisis, with inflation hitting record highs amidst liquidity crunch.Bitcoin is trading almost twice its current rate in an economically-hit Lebanon.Peer-to-peer bitcoin marketplace…
Bitcoin’s market dominance is trending downwards since September 2019.The crypto’s top rivals have posted better year-to-date returns after Coronavirus-induced sell-off in March 2020.Top analysts have called for an altcoin season to begin this Q2.The Bitcoin Dominance Rate, a ticker that tracks bitcoin’s market share against rivaling crypto tokens, has fallen from 73.02 percent to 64.66…
The market capitalization of Tether (USDT) surpassed that of XRP this week.The dollar-pegged stablecoin is now the third-largest cryptocurrency. Macro factors led the demand for USDT higher, including traders’ flight-to-cash amidst the fast-spreading novel Coronavirus pandemic.Tether has replaced XRP, the native token of the San Francisco-based blockchain payment firm Ripple Labs, to become the third-largest cryptocurrency…
Tezos’ native cryptocurrency XTZ confirms forming Inverse BARR, a bullish reversal indicator.The XTZ/USD pair is waiting to close above a crucial technical resistance while setting its upside target 50 percent higher.Promising utility growth confirms a bullish scenario in the Tezos market.XTZ, the native token of multi-purpose blockchain Tezos, could surge by 50 percent in the…
Bitcoin briefly dipped below $7,000 as the US oil prices collapsed to their two-decade low.The cryptocurrency’s price declined alongside US equities and Gold markets, again exhibiting a risk-on behavior.The US dollar, on the other hand, jumped on safe-haven demand.Bitcoin briefly fell below its $7,000-support in what appears to be a panic-sell caused by the upsetting…