Month: March 2020

Bitcoin Will Trade at $20,000 By Q1 2021

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It’s fair to say that Bitcoin investors aren’t too optimistic at the moment; after last week’s almost-50% decline, there are few reasons to be optimistic about the future of cryptocurrencies, let alone financial markets in general. But, analysts have begun to share a fractal that suggests the price of BTC will return to its $20,000 all-time high in under 12 months’ time from today. While this may seem irrational at the moment, Bitcoin has seen crazier price action, like when it rallied 2,000% in 2017 or when it crashed 50%…

Bitcoin, Ether, and XRP Weekly Market Update March 16, 2020

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The total crypto market cap lost $76.3 billion for the last seven days and now stands at $150.5 billion. The top 10 currencies were all in red for the same time frame with Binance Coin (BNB) and Bitcoin SV (BSV) being the worst performers with 40.3 and 38.6 percent of losses respectively. By the time of writing Bitcoin (BTC) is trading at $5,238 while Ether (ETH) moved down to $120. Ripple’s XRP fell to $0.149. BTC/USD Bitcoin nosedived to $8,027 on Sunday, March 8 in its worst session so far…

‘Not a Drill’ — Business as Usual for Bitcoin as Fed Bails out US

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Bitcoin (BTC) has failed to hold onto gains once again as commentators warn that the interest rate cuts by the Federal Reserve are “not a drill.” After the United States’ central bank cut rates to near zero on Sunday, BTC/USD briefly rallied but on Monday was falling in line with another panic trading session on traditional markets. BTC, stock markets shed 7% 24-hour highs of $5,900 soon gave way to current lows over $1,000 beneath — press time levels center on $4,850. Stocks broadly sank at the opening bell in…

Largest Blockchain Conference in Japan Postponed Due to Coronavirus

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Another gathering of cryptocurrency and blockchain professionals has been postponed as the global coronavirus crisis continues.  The TEAMZ Blockchain Summit — the largest blockchain conference in Japan — was going to take place from April 22–23, but has moved to September 28.  Organizers said in an official statement: “TEAMZ has been closely monitoring the global development of the Coronavirus. TEAMZ is deeply concerned about the safety and security of those attending the summit, including speakers, attendees, partners and sponsors.” Events setup will remain the same  The venue, schedule, and setup…

Sending Cash to Friends and Family Through Bitcoin ATMs Is Safer Than Crowding Bank Offices During Pandemic

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Transferring money over traditional channels may involve a lot of queuing in lines these days. Authorities around the world are trying to prevent large groups of people gathering in confined spaces to reduce the risk of transmitting the coronavirus infection. Remittances are a lifeline for people in many countries and cryptocurrency ATMs provide a way to send cash to loved ones without visiting a crowded bank office. Also read: These Online Stores Will Sell You Masks, Gloves, Emergency Items for Cryptocurrency Crypto ATM Transfers Safer Than Bank Wires in More…

How One Bitcoin Trader Lost $11 Million in a Single Day

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One bitcoin trader lost 1,220 bitcoin on a single day, worth $11 million before the drop. Accounts using low leverage were also liquidated as BTC dropped by 50%. Similar liquidations can happen again as downtrend intensifies. One bitcoin trader lost 1,220 BTC on March 12, when the price of the dominant cryptocurrency fell by 50 percent in a single day. As the downtrend of the crypto market worsens, large-scale multi-million dollar liquidations can happen again. How 1,220 bitcoin was lost in less than 24 hours Last week, the bitcoin price…

Bitcoin Falls Under $5,000 For First Time Since -50% Capitulation: What Is Next?

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Unfortunately, it isn’t getting any better for Bitcoin investors after last week’s grueling crash. Over the past 60-odd minutes, after holding at $5,300 for hours on end, BTC has slid under $5,000 yet again, breaching this key price point for the first time since Friday’s capitulation event. Bitcoin’s weakness comes as global equity markets have continued to see downside heading into Monday; indeed, per data from Investing.com, all major American indices have reached their “limit down” point at -5%, meaning they can’t fall any further before the actual open on…

Crypto Analyst Accused of Photoshopping Trade Screenshots

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A crypto market analyst with more than 63,000 followers has come under fire for allegedly photoshopping numerous screenshots to give the impression that his trades were more successful than they actually were.  A Twitter user going by the alias of “King” posted screenshots on March 14 which allegedly show that Jacob Canfield, the self-proclaimed “#1 cryptocurrency analyst” on Twitter, has consistently manipulated images depicting the performance of his trades. Crypto analyst accused of altering more than 10 screenshots of trade performances Responding to the “mob mentality” on Twitter, Jacob Canfield…

Bitcoin Is Forming a Double Top At $6,000, And Now At Risk Of a Big Drop

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Bitcoin is likely forming a double top pattern near the $6,000 resistance against the US Dollar. BTC price remains at a risk of a sharp decline below $5,000 if it fails to recover above $6,000. Bitcoin is showing a few bearish signs below the $6,000 and $6,200 resistance levels against the US Dollar. There is likely a double top pattern forming near the $6,000 resistance area. A key bearish trend line is forming with resistance near $5,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…

Binance.US Will List Tezos Token for Trading on March 16th

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On March 16th, digital asset marketplace Binance.US will list XTZ, the in-house cryptocurrency of blockchain project Tezos. According to an announcement on Binance’s website, trading for XTZ/USD and XTZ/BUSD trading pairs will be available on Monday, March 16th at 9:00 AM EST. At the time of writing, users on Binance.US can deposit USD, BUSD, or XTZ to their wallets before trading goes live on Monday. However, only deposits of the XYZ tokens will be allowed; withdrawals are permitted after 9:00 AM on March 16. XTZ is currently valued at $1.47.…