Traders encouraged by Ethereum’s impeccable growth in the decentralized finance (DeFi) sector have pushed its native token Ether to its five-month high.The Ether-to-dollar exchange rate cemented a new yearly peak of $222.63 after surging by 4.55 percent on Friday. The move uphill extended the pair’s year-to-date gains to 71 percent, making Ethereum one of the…
Analyzing Bitcoin is a tricky game; there are many variables to take into account when trading cryptocurrencies, and the inherent volatility of this market makes forecasts hard. Though, there are a few analysts that have seemingly made good progress in the art of Bitcoin analysis.One such analyst is Filb Filb, a pseudonymous trader known to…
Bitcoin Cash (BCH) registered a mind-bending price rally on Wednesday as traders moved capital into the altcoin market en masse.The fourth-largest cryptocurrency surged by up to 12.93 percent to establish a new yearly top at $428.80. The move uphill helped BCH’s market cap to swell from $6.87 billion to $7.74 billion, making it the best…
On January 23rd, leading Bitcoin derivatives exchange BitMEX revealed its intent to launch a new financial product for XRP. In a blog post, the company said that this product would be a “Ripple USD quanto swap,” which will allow traders to leverage trade the cryptocurrency with leverage of up to 50x.According to a recent Twitter update…
Over the past few days, Bitcoin has found itself stalling in the low-$9,000s, failing to venture out of a tight range it has been stuck in for the past four days. The below chart from TradingView shows this non-action perfectly.Although some say that this flatlining price action is a precursor to Bitcoin return into the…
Bitcoin’s dreamy price rally in 2020 could hit a dead end in the coming sessions, according to a bullish reversal indicator.The benchmark cryptocurrency is forming a Rising Wedge pattern as confirmed by its price consolidating between upward sloping resistance and support. More data that confirms the Wedge formation is a faster establishment of lower highs…
Hedge funds containing bitcoin as a primary asset were more profitable in 2019 than those that didn’t feature the cryptocurrency, according to the latest survey by Eurekahedge.The hedge fund database found that dedicated cryptocurrency funds returned more than 16 percent profits to its investors last year. In comparison, traditional hedging strategies generated a dwarfed 10.4 percent…
Although almost all eyes have been on Bitcoin, top cryptocurrency Tezos has seen a stellar past 24 hours. Per data from TradingView, the altcoin, in the top 20 cryptocurrencies by market capitalization, has gained upwards of 15%, surging as high as $2.04 from yesterday’s price of $1.75.Related Reading: Analyst Who Predicted Bitcoin’s $3,000 2018 Bottom…
It is February 1 and bitcoin is up by a modest 0.52 percent.The benchmark cryptocurrency left an impressive month behind in January, returning 30.27 percent in profits against an otherwise gloomy global market outlook. The wild move upside marked bitcoin’s best January close in seven years, convincing traders that the gains could grow further heading…
Litecoin was trending higher on Saturday against an otherwise bearish intraday narrative in the overall cryptocurrency market.The seventh-largest crypto by market cap closed above its seven-week high to hit $72.72. The strong move upward brought Litecoin’s intraday rise to more than 6 percent. At the same time, its gains this week notched up to 36.25…