Day: February 8, 2019

Ethereum Price Analysis: ETH’s Next Leg Lower Underway

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ETH price failed to move past the $105 resistance and later declined against the US Dollar. Yesterday’s highlighted crucial bearish trend line is intact with resistance near $104 on the hourly chart of ETH/USD (data feed via Kraken). The pair must break the $104 and $105 resistance levels to start a decent upside correction. Ethereum price recovery remained capped against the US Dollar and bitcoin. ETH/USD may continue to consolidate above the $100 support before the next key break. Ethereum Price Analysis Yesterday, there was a short term upside correction…

Fundstrat: Bitcoin (BTC) Oversold, Needs To Breach $4,200 For Push Higher

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Bitcoin Hasn’t Been This Oversold In Years As Bitcoin is seemingly teetering on the edge of an abyss, analysts have sought to discern how BTC is advancing from a technical analysis standpoint. Per a report from MarketWatch, which cited a research note from Fundstrat Global Advisors’ Robert Sluymer, the New York market outfit’s in-house chartist, BTC is currently at a key level. Sluymer, citing the Relative Strength Index (RSI) measure explained that, the cryptocurrency is currently nearly “historically oversold levels” from the one-week chart standpoint, and is in the midst of…

Expert Claims QuadrigaCX Funds Not Stuck, But Missing Altogether

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The $145 million in digital assets that are reportedly stuck in encrypted cold wallet storage of QuadrigaCX crypto exchange could actually be missing, according to analysts cited by the Wall Street Journal (WSJ) on Feb. 6. In December 2018, the founder of major Canadian cryptocurrency exchange QuadrigaCX, Gerald Cotten, passed suddenly. Cotten was reportedly the sole executive with access to the exchange’s cold wallets. As such, customers have been unable to withdraw funds owed to them, and the exchange has sought creditor protection in Canadian court. A filing from Ernst…

Bitcoin Transactions Per Day Increase to January 2018 Levels

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The daily Bitcoin (BTC) transaction volume has been recently increasing to the levels not seen since January 2018, after BTC hit the $20,000 price mark, according to data from transactionfee.info. Some industry players believe that it is a sign of the evolution of the cryptocurrency’s ecosystem and fundamentals. Bitcoin transactions per day. Source: transactionfee.info Jameson Lopp, chief technology officer at Bitcoin personal key security system firm Casa, published a Medium post with an analysis of the fundamental performance of Bitcoin, concluding that “the system is improving and growing.” In the…

Huobi Reports 100 Percent Increase in Trading Volumes in 2018 Over 2017

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Major global crypto exchange Huobi has reported a 100 percent growth in trading volume in 2018 over the 2017, according to a press release shared with Cointelegraph on Feb. 7. The Singapore-headquartered company has reportedly expanded its staff from 400 employees in early 2018 to more than 1,300 people by 2019, with 15 offices in 12 countries and regions, as Huobi CEO Leon Li told Cointelegraph. Huobi’s over-the-counter (OTC) trading desk has reportedly become one of the most traded OTC platforms worldwide, while the recently launched service Huobi Cloud has…

Analyst: Bitcoin (BTC) Most Likely To Bottom At $2,400

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Bitcoin Could See A Further 40% Before Bottom, Claims Trader The seemingly endless stream of harrowing crypto price predictions has continued. One trader, going by the laugh-inducing moniker “Magic Poop Cannon,” claims that Bitcoin (BTC) is most likely to find a long-term floor at and around the $2,000 (most likely $2,300-$2,400) price level — a further 40% decline from current prices. Per his analysis, released to his feed on technical analysis hub TradingView, the “ideal bottom scenario” will play out in the low 2,000s, likely by the start of March/April.…