Day: May 13, 2019

Bitcoin, Ether, and XRP Weekly Market Update May 13, 2019

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The total crypto market cap is $31 billion up for the seven-day period and now stands at $211.6 billion. The top 10 currencies are all in green for the same time frame with Binance Coin (BNB) being the only exception with a 5.7 percent loss. Bitcoin (BTC) is the biggest gainer with 22.7 percent of price increase. At the time of writing, Bitcoin (BTC) is trading at $7,021 while ether (ETH) stands at $188. Ripple’s XRP is at $0.321. BTC/USD Bitcoin was one of the best, if not the best…

Bitcoin Price Consolidates Around $7000 Levels After Surging Past $7500

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After hitting its 2019 high above $7500 levels on Sunday, May 12, Bitcoin price immediately retraces back to $7000 levels. Analysts call it a fundamentally healthy correction setting the stage for the next bull run. On Sunday, May 13, the world’s largest cryptocurrency Bitcoin (BTC) made a new high in 2019 with its price surging past $7500 levels. Furthermore, Bitcoin achieved another milestone with its daily trading volumes going above $29 billion, the highest ever in the history of Bitcoin. After some massive fireworks over the weekend, Bitcoin is consolidating…

Post-Hack, Binance Plans to Re-open Withdrawals and Deposits Tomorrow

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Changpeng Zhao (CZ), CEO of major crypto exchange Binance, has announced that the platform plans to fully resume deposits and withdrawals tomorrow. CZ made the announcement in a security incident update published on May 12. As reported, Binance had suspended deposits and withdrawals as it worked to rehaul its security systems in the aftermath of a major hack on May 7, which resulted in the theft of around 7,070 bitcoin (BTC) from the exchange’s hot wallets — worth over $40 million at the time. In the latest update, the CEO…

ICE Pushes for Bakkt Bitcoin Custody License — CFTC Approval Imminent?

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The Intercontinental Exchange (ICE) is reportedly taking steps to ensure approval from the United States Commodity Futures Trading Commission (CFTC) for its bitcoin futures contracts platform — Bakkt. ICE, the operator of the New York Stock Exchange (NYSE), recently acquired a cryptocurrency custodial service and are mulling plans to register Bakkt as a licensed trust in the state of New York. If successful, these latest moves would see Bakkt become a registered bitcoin (BTC) custody platform. Recent reports also indicate that the company is in partnership with Bank of New…

Bitcoin Price Falls 6%; Is BTC Really Vulnerable to Plunge below $6,000?

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By CCN: In the past 24 hours, following an intense 25 percent rally within a seven-day span, the bitcoin price has slightly retraced to around $7,000 from its peak at $7,500, by nearly 6 percent. Several technical analysts expected a minor retracement to occur as the bitcoin price surged from $5,000 to $7,500 in a relatively short time frame, demonstrating a parabolic upside movement. The bitcoin price has dropped by more than six percent in the last 24 hours in a slight correction (source: coinmarketcap.com) Although technical indicators of bitcoin…

Will Bitcoin Follow Fibonacci And Correct Back to $4,300?

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There is no denying that Bitcoin has had an epic bull runover the weekend. It has rallied to new highs not seen for nine months andsurged through several levels of resistance. Analysts are now expecting a pullbackbut how low will BTC go this time around? Thousand Dollar Bitcoin Weekend Bitcoin had its first thousand dollar weekend since 2017according to Bloomberg.After defying all expectations and remaining above $6,000 for the best part oflast week BTC smashed through resistance at $6,400 and surged higher. By Sundayafternoon BTC had reached a new 2019…

Bitcoin (BTC) Price Uptrend Intact Despite Recent Corrective Decrease

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Bitcoin price rallied to a new 9-month high towards $7,500 before correcting lower against the US Dollar. The price declined below the $7,000 support level, but it found strong bids near $6,750. There is a new connecting bullish trend line forming with support at $6,940 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently in an uptrend and it is likely to climb back above $7,200 and $7,250. Bitcoin price corrected sharply from $7,500 against the US Dollar. BTC tested key supports and…

Crypto Market Consolidating Gains: Bitcoin Cash, BNB, EOS, TRX Price Analysis

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The total crypto market cap rallied above the $200.0B and $210.0B levels before correcting lower. Bitcoin price tested the $7,500 resistance level and recently corrected towards $7,000. EOS price tested the $5.50 resistance level and it is currently well above the $5.20 support. Binance Coin (BNB) recovered nicely and it is now trading above the $21.20 resistance level. Bitcoin cash price is currently holding gains above the $285 and $290 support levels. Tron (TRX) price is back above the $0.0240, but it must clear the $0.0250 resistance level. The crypto…

Ripple (XRP) Price Primed For More Upsides: $0.3500 On The Cards

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Ripple price started a fresh rise above the $0.3100 and $0.3200 resistance levels against the US dollar. The price tested the $0.3400 area and recently corrected lower below $0.3300 and $0.3250. There is a major bullish trend line forming with support near the $0.3100 level on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could soon break the $0.3220 resistance level and climb higher towards $0.3400 once again. Ripple price started a strong rise above $0.3200 against the US Dollar, plus corrected higher versus bitcoin.…

Ethereum (ETH) Price In Corrective Decrease: Buying Dips Favored

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ETH price climbed to a new 2019 high above $200 before correcting lower against the US Dollar. The price declined below the $195 and $190 support levels before the bulls appeared near $182. There is a new connecting bullish trend line forming with support near $186 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains supported on dips and it seems like it could bounce back above $194. Ethereum price started a downside correction versus the US Dollar, similar to bitcoin. ETH price remains well supported…