Day: April 21, 2019

Latest Bitcoin Price Rally Made Mining Profitable: Analyst

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The latest bitcoin price rally pushed the cryptocurrency’s price above its average production cost, at least according to Alex Krüger. The crypto market analyst noted that bitcoin mining difficulty increased substantially following the asset’s so-called bottom formation on December 15, 2018, in $$3,100-3,200 range. That signified that more miners were entering the bitcoin economy despite layoffs and shutdowns taking place across the horizon. Meanwhile, the breakeven cost on the December 15 bottom formation was sitting around $3,150. After deducting mining rig depreciation, the value surged to $3,850 against a $3,200 bitcoin price.…

Top 5 Crypto Performers Overview: XTZ, BNB, BCH, ETH, XMR

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Does the crypto market’s previous extended downtrend mean that it is now in an accumulation phase? The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. An extended downtrend usually goes through an accumulation phase before starting a new uptrend. Digital assets fund Adamant Capital believes that the crypto markets are currently going…

Bitcoin (BTC) To Fall To $4,600 Before $2,000 Rally, Analyst Suggests

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Bitcoin May Pull Back Before Rally Over the past few days, the crypto market has entered an eerily calm state, with Bitcoin (BTC) barely budging on a day-to-day basis. However, a leading analyst claims that this may end soon, recently predicting that volatility will soon pick up once again, whether we like it or not. Galaxy, as the analyst is known, recently remarked on Twitter Bitcoin’s current price action and volume profile all point towards the fact that BTC will mirror the price action it did in late-December to early-April,…

Bitcoin (BTC) Price Hesitates But More Upsides Seem Likely

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There was a slow and steady rise in bitcoin after it tested the $4,920 area against the US Dollar. The price climbed higher steadily and broke the $5,200 resistance area to move into a positive zone. There is a key ascending channel in place with support at $5,270 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could dip in the short term, but buyers are likely to buy heavily near $5,270 or $5,250. Bitcoin price is showing positive signs above the $5,200 pivot level…

Ethereum (ETH) Price Could Surge To $200 In Near Term

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ETH price remains well supported on the downside near the $170 area against the US Dollar. The price settled in a positive zone above the $165 and $169 resistance levels. There is a major bearish trend line formed with resistance at $176 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could start a significant rally once there is a break above the $176 and $180 resistance levels. Ethereum price gained traction from key supports versus the US Dollar and bitcoin. ETH is currently placed nicely above…

Bitcoin (BTC) Still Under Key Trend Line, Bull Run Isn’t Inbound Just Yet

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Bitcoin Bears Still In Control Per a chart from industry analyst Jacob Canfield recently posted on Trading View, Bitcoin (BTC) bears are still in control of the market, in spite of the fact that cryptocurrencies are seeing strong fundamentals and technicals simultaneously. As Canfield depicts in the chart below, Bitcoin has seen a “hidden trend line” develop since late-2015, which supported BTC during four drawdowns in the 2016 to 2017 run-up. However, during this bear market, that former key support level has turned into heavy resistance. Earlier this year, BTC…

Adamant Capital: Bitcoin in ‘Accumulation Phase’ Before Next Bull Run

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A new report by Adamant Capital concludes that the bear market for Bitcoin might be nearing an end, with the currency entering an accumulation phase before the next big bull run. Compared to the crypto winter of 2018, during which investors were forced to shed BTC or suffer losses as the currency fell from $20,000 to a relative low of $3000, the current market has traders much more optimistic about on the price outlook. Investors are now accumulating Bitcoin, putting pressure on bears who may be selling just ahead of…

Adamant Capital: Bitcoin in ‘Accumulation Phase’ Before Next Bull Run

boss

A new report by Adamant Capital concludes that the bear market for Bitcoin might be nearing an end, with the currency entering an accumulation phase before the next big bull run. Compared to the crypto winter of 2018, during which investors were forced to shed BTC or suffer losses as the currency fell from $20,000 to a relative low of $3000, the current market has traders much more optimistic about on the price outlook. Investors are now accumulating Bitcoin, putting pressure on bears who may be selling just ahead of…