Bitcoin has been caught within the throes of intense turbulence over the past day, with the cryptocurrency incurring a violent selloff yesterday that sent it reeling from $10,200 to lows of $9,200. In the time since this capitulatory drop, Bitcoin has been able to climb higher, and its early-morning volatility seems to suggest that bulls and bears are currently engaged in an intense battle for control over the cryptocurrency. In the near-term, one top trader is noting that BTC is currently hovering around the lower boundary of a multi-month ascending…
Month: February 2020
Bitcoin’s Fundamentals Grow Bullish as the Crypto Nears Major Bull Territory
Last updated:February 19, 2020 Bitcoin’s intense 2020 uptrend has led the cryptocurrency to rally up towards $10,000, with the price region lying directly below this critical price level appearing to be a heavy resistance region. It is important to note that the resistance at this level, however, has not been enough to catalyze any type of sharp selloff, but it has been enough to slow the cryptocurrency’s momentum. In the near-term, it does appear to be highly likely that Bitcoin sees some further bullish continuation, as the crypto’s fundamentals are…
Ripple Unlocks Half Billion Tokens From Escrow as XRP Price Up 26% YTD
XRP price growth remains lackluster as February begins, despite blockchain payment network Ripple releasing 500 million tokens from its escrow. Data from the XRP blockchain noted by monitoring resource Whale Alert on Feb. 1 confirmed a single transaction of 500,000,000 tokens worth $119.5 million left Ripple’s escrow the same day. XRP “rewards” bagholders with 26% returns The move is the latest in a series of planned releases, which Ripple has scheduled to occur on the first of each month for 55 months. Its aim is to provide incentives for market…
Zcash’s Funding Vote and the Problems With Decentralized Governance
The zcash community has agreed to continue funding the development of its privacy coin, ZEC, as spearheaded by the Electric Coin Company (ECC) and the Zcash Foundation, according to voting results published by the foundation Thursday. The decision marks the end of a months-long – and often contentious – campaign to address imminent funding losses for both organizations. For the ECC and Zcash Foundation to continue developing zcash, particularly as its use case faces increased scrutiny from international regulators grappling with the implications of privacy coins, the funding is a…
Zcash’s Funding Vote and the Problems With Decentralized Governance
The zcash community has agreed to continue funding the development of its privacy coin, ZEC, as spearheaded by the Electric Coin Company (ECC) and the Zcash Foundation, according to voting results published by the foundation Thursday. The decision marks the end of a months-long – and often contentious – campaign to address imminent funding losses for both organizations. For the ECC and Zcash Foundation to continue developing zcash, particularly as its use case faces increased scrutiny from international regulators grappling with the implications of privacy coins, the funding is a…
The $100,000 Bitcoin Halving Is Just 100 Days Away
Bitcoin (BTC) is just over three months away from having its supply cut in half — and major market commentators are unashamedly bullish on its impact. In a tweet on Feb. 1, rating agency Weiss Ratings presented a summary of Bitcoin price performance over its two previous block reward halvings. Weiss: Halvings “absolutely” help BTC price Halving refers to the number of new Bitcoins awarded to miners for each block of transactions they validate. During the first event in late November 2012, BTC/USD traded at just $12. Four years later,…
‘Litecoin Leads Bitcoin’ — LTC 65% Gains Echo Start of 2019 Bull Run
Litecoin (LTC) hit $70 for the first time since September 2019 this weekend, fuelling speculation it will induce a Bitcoin (BTC) bull run. Data from Cointelegraph Markets and Coin360 showed LTC/USD passing the notable $70 barrier on Feb. 1, going on to claim local highs of $71.50. LTC seals 65% monthly returns As with many major altcoins, the achievement caps a highly successful month for Litecoin, which on Jan. 1 traded at just $43. Litecoin price 1-month chart. Source: Coin360 However, the 65% jump caught traders’ attention for one reason…
Three Catalysts that Could Send Bitcoin Price Higher in February
It is February 1 and bitcoin is up by a modest 0.52 percent. The benchmark cryptocurrency left an impressive month behind in January, returning 30.27 percent in profits against an otherwise gloomy global market outlook. The wild move upside marked bitcoin’s best January close in seven years, convincing traders that the gains could grow further heading into February. Bitcoin maintaining gains to open February in a green territory | Source: Yahoo Finance So it appears, bitcoin’s bullish continuation theory – actually – has merits in the form of both fundamental…
Stacking Fasts: Inside the Crypto Community’s New Diet Craze
It’s been 27 hours since my last meal and my body is starting to eat itself. Autophagy, literally self-eating, is the latest dietary trend in the crypto community. More commonly known as fasting, the idea is to abstain from ingesting food for a set amount of time, ranging anywhere from 24 hours to an entire month or beyond. In doing so, proponents hope to improve their bodily health and mental acuity. With nine hours left to my own exercise in self-starvation, I feel neither healthy nor sharp. In fact, I’m…
Bitcoin $100K Bullrun Is Here, Say Crypto YouTubers as Price Eyes $10K
Bitcoin (BTC) has in fact already started the bull run, which could spark its run-up to $100,000, two popular social media personalities have said. Speaking in a Market Discussion on Jan. 31, YouTube bloggers The Moon (Carl Runefelt) and DataDash (Nicholas Merten) told Cointelegraph that Bitcoin had been in a bull market “for some time.” DataDash eyes $100K BTC bull target The two form the latest voices from trading circles to go decisively bullish on BTC, cementing positive sentiment from Cointelegraph guests throughout January. During that time, BTC/USD has gained…