Day: March 18, 2019

An Old Resistance Hurdle Is Back and Could Stall Bitcoin’s Price Rally

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View Bitcoin clocked highs above $4,000 over the weekend and closed last week on a positive note, strengthening the short-term bullish outlook. The ongoing recovery rally, however, could pause around $4,000 or fall back to key support levels lined up at $3,775 and $3,658, as the bearish (downward sloping) 21-week simple moving average (SMA) is currently lined up at $4,073. That SMA served as a stiff resistance last year. Bitcoin’s outlook as per the daily chart would turn bearish if prices see a UTC close below the Feb. 27 low of…

An Old Resistance Hurdle Is Back and Could Stall Bitcoin’s Price Rally

boss

View Bitcoin clocked highs above $4,000 over the weekend and closed last week on a positive note, strengthening the short-term bullish outlook. The ongoing recovery rally, however, could pause around $4,000 or fall back to key support levels lined up at $3,775 and $3,658, as the bearish (downward sloping) 21-week simple moving average (SMA) is currently lined up at $4,073. That SMA served as a stiff resistance last year. Bitcoin’s outlook as per the daily chart would turn bearish if prices see a UTC close below the Feb. 27 low of…

Bitcoin Rages Bullish in Technical Indicators For the First Time Since 2017

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In recent months, the substantial increase in the daily volume of bitcoin and the rest of the cryptocurrency market has led analysts to suggest that the overall trading activity in the market is rising. While some stated that the minimal impact on the bitcoin price despite the large movements of alternative cryptocurrencies show a small inflow of capital into the crypto market, the general sentiment regarding the asset class has improved. Join CCN for $9.99 per month and get an ad-free version of CCN including discounts for future events and…

Crypto Heralds Something Greater Than Facebook

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Tyler and Cameron Winklevoss, Bitcoin (BTC) bulls and founders of the Gemini crypto exchange, say that while Facebook’s secretive crypto project is positive for the industry, ultimately crypto will usher in something greater than the social networking era. The twins made their remarks during an interview with British broadsheet The Telegraph on March 17. The Winklevoss twins have a famously antagonistic history with Facebook founder Mark Zuckerberg, having sued him for allegedly stealing the idea for the social network from them during the trio’s student days at Harvard. The case…

Australia Announces National Blockchain Roadmap and Further Boost to Government Funding

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Australia has unveiled a national blockchain strategy and roadmap, with a boost of AU$100,000 (~$71,200) in further funding from the federal government. The news was announced in a joint media release from two Australian ministries on March 18. Minister for Industry, Science and Technology Karen Andrews and Minister for Trade, Tourism and Investment Simon Birmingham have jointly stated that the new policy roadmap aims to make Australia’s nascent blockchain industry into a global leader. The roadmap will encompass the development of blockchain “regulation, skills and capacity building, innovation, investment, and…

Bitcoin Won’t Be $3,000 Cheap Again, Crypto To Trend Higher In April

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Analyst Awaits Bitcoin Breakout Each and every day, the cryptocurrency market trades. More often than not, it seems to move in a random manner, with Bitcoin (BTC), Ethereum, or whatever other flavors of the week posting gains or losses without as much of an indication. But in the eyes of a prominent analyst, BTC moves more like clockwork than anything else. Galaxy, a trader who sports tens of thousands of followers on Twitter, recently laid out why he believes that Bitcoin could begin a jaw-dropping rally in the coming months,…

Bitcoin Won’t Be $3,000 Cheap Again, Crypto To Trend Higher In April

boss

Analyst Awaits Bitcoin Breakout Each and every day, the cryptocurrency market trades. More often than not, it seems to move in a random manner, with Bitcoin (BTC), Ethereum, or whatever other flavors of the week posting gains or losses without as much of an indication. But in the eyes of a prominent analyst, BTC moves more like clockwork than anything else. Galaxy, a trader who sports tens of thousands of followers on Twitter, recently laid out why he believes that Bitcoin could begin a jaw-dropping rally in the coming months,…

Bitcoin (BTC) Price Watch: Rally Takes Break, But Not Likely Over

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Bitcoin price climbed higher towards the $4,040 level before correcting lower against the US Dollar. The price declined below $4,000 and tested the key $3,940 support area. Recently, there was a break above a connecting bearish trend line with resistance at $3,970 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently moving lower, but it remains well supported near $3,940 and $3,920. Bitcoin price corrected gains recently below $4,000 against the US Dollar. BTC could bounce back as long as it is trading…

Bitcoin’s Price and Network Activity: One is Outpacing the Other

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Bitcoin’s user growth, as represented by active addresses, has spiked in the last eight weeks leaving the price far behind, a move that contradicts the popular belief the two tend to move in tandem. The 30 day average of active addresses on bitcoin’s blockchain, or the number of accounts that made cryptocurrency transactions at any point during the last 24 hours, total 664,064 as of March 16– up 17 percent from 569,812 seen on Jan. 20. Bitcoin’s 30 day average price, however, has increased just 1 percent during the same time…

Crypto Market In Clear Uptrend: EOS, Bitcoin Cash, TRX, ADA Price Analysis

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The total crypto market cap rallied recently and broke the key $130.0B resistance area. EOS price broke the key $3.65 and $3.70 resistance levels and tested $3.80. Bitcoin cash price rallied more than 10% and broke the $150 and $160 barriers. Tron (TRX) price is slowly moving higher and it could break the $0.0240 resistance level. Cardano (ADA) price cleared the $0.0500 resistance to move into a positive zone. The crypto market broke key resistances to move into an uptrend. Bitcoin (BTC), Ethereum (ETH), EOS, bitcoin cash (BCH), ripple, tron…