Day: May 11, 2019

This Technical Indicator Predicts Bitcoin above $300K by 2021

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The bitcoin price could discover new highs above $300,000 by 2021, according to a popular technical indicator. Dubbed as the Stochastic RSI, the indicator helps investors identify oversold and overbought conditions inside the market. It indicates a probable change in the direction of a price trend. GalaxyBTC, a pseudonymous cryptocurrency analyst, applied Stochastic RSI on the monthly bitcoin chart and compared the indicator’s past performance with the cryptocurrency’s price behavior. The analyst found that Stochastic RSI was recovering from its oversold conditions for the first time since October 2015. The last…

Dangerously Parabolic Bitcoin Price Could Collapse Below $6,000

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By CCN: Nothing is stopping the bitcoin price from establishing fresh yearly highs above $6,000. The world’s leading cryptocurrency today settled a new intraday peak towards $6,989 on US-based exchange Coinbase, its best since September 5, 2018. The sustained uptrend helped bitcoin to post a net bottom-rebound of 122.69-percent. At the same time, it pushed the asset’s year-to-date performance to 83.98-percent. The move reflected traders’ willingness to purchase bitcoin at newly-established higher highs, leading to a parabola formation. In retrospective, a parabolic move happens when an asset moves upward in…

Crypto Market Hits $200 Billion, Bitcoin Rallies To $7K: BCH, LTC, EOS, ADA Analysis

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The total crypto market cap surged higher and tested the $200B resistance level. Bitcoin price gained traction above $6,500 and traded close to the $7,000 level. Litecoin (LTC) price is up 15% and it recently broke the $85.00 resistance Bitcoin cash price gained more than 12% and surged above the $300 and $310 levels. EOS price is also up more than 10% and recently cleared the $5.20 resistance area. Cardano (ADA) price rallied 12% and it recently broke the $0.0700 resistance level. The crypto market cap rallied to the $200…

So Much for $6000 Resistance, Bitcoin Price Dominance Reaches Sixteen Month High

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After a week of bullish price movement, U.S.-based investors awoke May 11 to the sight of Bitcoin up 8 percent, approaching a relative high of $7000. Despite April’s bullish turn in the crypto markets, analysts were calling for substantial resistance in BTC surmounting $6000. In November 2018 the price of Bitcoin plummeted from the market uncertainty of the BCH contentious hard fork and general investor fatigue. Retail investors fled the crypto markets in droves, cashing out at a loss. The remaining investors were thought to pose tough resistance for Bitcoin…

Bitcoin Will Make 5% of Earth’s Market Share in Four Years: Tim Draper

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Photo: Shutterstock While over the previous year some investors were gradually losing their belief in the bright future for Bitcoin and other cryptocurrencies, serial VC investor Tim Draper has always been rather confident in his optimistic predictions. And just recently he has reaffirmed his positive vision. According to him, by 2023 Bitcoin will have won a 5% market share of the entire world. Future of Bitcoin Some people may say that Draper has his head stuck in the clouds with his predictions. Let us remind you that in February when the Bitcoin…

Binance and Coinbase Traffic Spikes as Bitcoin Price Surges 81% YTD

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Over a million internet users are visiting Binance every day as the cryptocurrency exchange manages a $40 million hack scandal amidst a bitcoin price boom. Toronto-based Kevin Rooke, known for his insightful crypto-related social media analysis, revealed that Binance’s daily average traffic had gone up by 13 percent in April. At 1,183,000 visits, the Malta-based exchange was hosting its best website statistics since October 2018. The analysis appeared as soft evidence of people’s growing interest in cryptocurrencies, particularly bitcoin whose value surged by 29.33 percent during the April session. Meanwhile,…

Barclays and RBS Have Reduced the Real Estate Transaction Process Four Times: Who Benefits?

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Recently, Barclays and the Royal Bank of Scotland (RBS), with the participation of enterprise software company R3, successfully tested a blockchain project that will speed up real estate transactions. Such a solution can provide transparent and fast operations for the end user, R3 officials say. However, is it already possible to talk about a breakthrough in the market? How will the traditional process of real estate transactions and mortgage issuance change? Why did banks, skeptical before, change their attitude toward blockchain? And what are the risks for private blockchain platforms?…

Bitcoin Price Hits 8-Month High Close to $7K

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View Bitcoin printed an eight-month high of $6,964 earlier today. Further strengthening the long-term bullish bias is a bull cross of the 100- and 200-day moving averages (MAs) – the first since July 2015. A sustained move toward the next resistance at $7,411 (September 2018 high) could be preceded by a price pullback, as the 14-day relative strength index (RSI) is currently reporting overbought conditions. Pullbacks, if any, will likely be reversed by the historically strong 30-day moving average (MA), currently at $5,450. The long-term bullish outlook would be invalidated…

Binance Bolsters Security Measures Following $40 Million Bitcoin Hack

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Binance CEO Chanpeng Zhao wrote in a blog, May 10, 2019, that they’re making significant changes to their security methods in the wake of the recent hack. Strengthening Defenses and Tracking Hackers On May 7, 2019, the largest cryptocurrency exchange Binance was hacked and a hefty amount of $40 million was stolen from its hot wallet. The company had announced that the hackers were able to obtain a large number of API keys and 2FA codes by using phishing and other unidentified techniques. Zhao wrote that they were significantly revamping their…

Bombastic Bitcoin Price Nears $7,000 in Big Parabolic Rally, is $8,000 Next?

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By CCN: The bitcoin price has climbed to $6,964 on the day’s peak in major markets like the U.S., recording a staggering 9 percent rise within 24 hours, bringing its one month gain to 23 percent and fueling the crypto market. Traders were initially cautious about the near-term price trend of bitcoin as large resistance served as a potential roadblock for the asset to continue its upward momentum. The bitcoin price has recorded a 9 percent gain in the past 24 hours (source: coinmarketcap.com) The bitcoin price comfortably broke out…