Day: May 21, 2019

Bitcoin (BTC) Volatility Will Match Gold’s in A Decade

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Recently, Bitcoin and Gold proponents have been crashing on which is best suited to be a store of value. Unfortunately, Bitcoin has been on the receiving end due to its wide price fluctuations. But, as it turns out, the volatility aspect will soon be out of the way since Bitcoin is slowly but consistently becoming stable and will match Gold’s volatility within the next 10 years. Major culprits in Bitcoin’s volatility woes are low liquidity and market cap which at the time of writing stands at $140.7 billion relative to…

Bitcoin Price Blitzed $20,000, 13 Days After it Last Closed at $8,300; Déjà Vu?

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By CCN: Year-to-date, the bitcoin price has surged by 113 percent in a stunning recovery, achieving $8,000 in merely six months after plunging to $3,150 in December 2018. Although bitcoin experienced extreme volatility in recent days, it’s up significantly in 1 month (source: coinmarketcap.com) As said by Thomas Lee, a co-founder at Fundstrat Global, bitcoin has historically tended to record most of its gains in a short time frame, typically in a 10-day window, unlike traditional assets and asset classes. 2/ Reminder that BTC generally generates all of its performance…

SEC Postpones Decision on VanEck/SolidX Bitcoin ETF, Bitcoin Price Reacts Mildly

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While the SEC has postponed its decision on a Bitcoin ETF proposal by VanEck/SolidX, the Bitcoin community has given little attention to it as Bitcoin price largely remains stable. On Monday, May 20, the U.S. Securities and Exchange Commission (SEC) postponed its decision on VanEck/SolidX Bitcoin ETF, filed earlier this year. The new deadline for the SEC to decide on this proposal on August 19, 2019. The Bitcoin ETF filed by VanEck/SolidX is a year-long saga now. Last year in July 2018, the two companies filed for a Bitcoin ETF,…

Bitcoin (BTC) Price Watch: Breakout or Further Decline?

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Bitcoin price started a downside correction after tagging the $8,300 resistance against the US Dollar. The price tested the $7,575-7,600 support area and recently rebounded towards $8,100. Yesterday’s highlighted important bullish trend line is intact with support near $7,810 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to trade in a range before the next move either towards $8,300 or below $7,575. Bitcoin price is holding a couple of important supports near $7,600 against the US Dollar. BTC could either climb above…

Dutch Bank ABM AMRO Dumps Plans for Custodial Bitcoin Wallet “Wallie”

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On May 20, 2019, The Next Web reported that major Dutch bank ABM AMRO had shelved its plans to launch a custodial cryptocurrency wallet called “Wallie” stating that digital assets are “just too risky.” ABM AMRO Is No Longer Interested in Cryptocurrencies One of the Netherlands’ premier banks, ABM AMRO has decided against entering the crypto space on account of the volatile nature of the emerging class of assets. A representative from the bank told The Next Web that it would not go ahead with the development of the Wallie…

Ethereum Golden Cross Could Spell Greater Gains

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Ethereum has been on a rip recently. Just over the pastseven days ETH prices have surged20 percent from just over $200 this time last Tuesday to $250 today. Thefabled golden cross could signal greater upwards movement as the uptrend hasnow been confirmed. Ethereum Remains Bullish Many had expected cryptomarkets to tumble following a negative announcement from the US SECyesterday regarding the VanEck ETF proposal. The most likely outcome actuallymaterialized, which was a further delay by the lethargic regulators whocontinue to drag their feet with anything crypto related. During Asian trading…

Bitcoin Will Die if These 4 Problems Remain Unsolved: Teen Crypto Millionaire

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By CCN: Teenage bitcoin millionaire Erik Finman has once again thrown himself into the spotlight by claiming that the flagship cryptocurrency ‘will die’ unless the sticky issues it is facing are resolved. Speaking to Yahoo Finance, Finman indicated that the sticky issues plaguing Bitcoin are four. This includes its complexity with regards to use, high transaction fees, slow processing speeds and in-fighting among development teams. It’s facing four big problems. One, its high transaction fees. Two, it takes a long time you know to kind of send anything. And then…

Crypto Market Holding Key Support: Bitcoin Cash, Litecoin (LTC), ADA, TRX Analysis

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The total crypto market cap is currently above the key $225.0B and $230.0B support levels. Bitcoin price seems to be struggling to clear the $8,000 barrier and is trading in a range. Litecoin (LTC) price is currently consolidating above $90.00, with resistances near $92.00 and $95.00. Bitcoin cash price settled above the $400 resistance area after a strong recovery from $350. Tron (TRX) price is slowly grinding higher towards the key $0.0300 resistance area. Cardano (ADA) price is facing a strong resistance near the $0.0850 and $0.0880 levels. The crypto…

Mainstream Business Journalist Foolishly Warns Bitcoin Is Going to Zero

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By CCN: Didn’t the “60 Minutes” segment on bitcoin teach the mainstream media anything? New York Post columnist John Crudele is railing against cryptocurrencies. More specifically, he’s rehashing an outdated argument in an article entitled: “Bitcoin Will Soon Be Worth Zero.” His reason for sounding the alarm is simple: “Last Thursday night bitcoin crashed by about $1,000, to around $7,000.” Someone should break the news that $1,000 swings are typical for the emerging cryptocurrency. Not only that, but the bitcoin price has since recovered to nearly $8,000 since he published…

Ripple (XRP) Price Consolidating Above Key Supports: $0.3600 Holds Key

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Ripple price failed to break the $0.4300 resistance and recently corrected lower against the US dollar. The price declined below the $0.4000 support and tested the $0.3800 support area. There is a key bullish trend line forming with support near $0.3850 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may continue to trade in a range above the $0.3610 support area before a fresh increase. Ripple price is currently consolidating above key supports against the US Dollar, but declining vs bitcoin. XRP must stay…