May 25, 2020

There’s a 77% Chance Bitcoin Trades Above $9,200 This Week: Market Study

May 25, 2020 boss

Bitcoin may still be up 135% from March’s lows, but the cryptocurrency’s technical outlook is far from bearish. After peaking at $10,000 multiple times over the past month, showing BTC does not yet have the momentum to clear resistances, the cryptocurrency slid as low as $8,625 on Sunday evening in a move that liquidated approximately $20 million worth of BitMEX longs. There are many analysts saying that this is a precursor to further losses. One trader, for instance, explained that Bitcoin’s weekly chart has just printed a textbook “tweezers top,”…

There’s a 77% Chance Bitcoin Trades Above $9,200 This Week: Market Study

May 25, 2020 boss

Bitcoin, Ether, and XRP Weekly Market Update May 25, 2020

May 25, 2020 boss

The total crypto market cap lost $23.1 billion of its value for the last seven days and now stands at $246.2 billion. The top 10 currencies are mostly in red for the same time period with Bitcoin (BTC) being the worst performer with 9 percent loss while Tezos (XTZ) added 2.9 percent. By the time of writing bitcoin is trading at $8,780 while Ether (ETH) dropped down to $201. Ripple’s XRP nears $0.193. BTC/USD Bitcoin continued to rise on Sunday, May 17, and ended the week at $9,661 or 12.5…

Stablecoins Can Transfer Value Across Blockchains, Says Vitalik Buterin

May 25, 2020 boss

Ethereum co-founder Vitalik Buterin thinks that the stablecoin industry is missing a valuable opportunity to improve interoperability between different blockchains. In a lengthy Twitter thread on May 20, Buterin suggested that stablecoins could enable users to move value across different blockchains: “In the specific case of issuer-backed stablecoins there’s lots of things that could be done but aren’t, eg. every stablecoin could be an instant cross-chain bridge!” Bitcoin (BTC) activist and independent developer Udi Wertheimer pointed out that something similar to what Buterin suggested is already possible with cryptocurrency exchanges.…

Ethereum Could Narrowly Avoid a Major Downtrend if it Breaks $210

May 25, 2020 boss

Ethereum failed to continue above the $210 resistance and declined recently against the US Dollar. ETH price must stay above $195 and $192 to avoid a major downtrend. Ethereum is still struggling to break the $210 and $215 resistance levels. The price might start a decent recovery wave as long as it is above the $192 support zone. There is a major bearish trend line forming with resistance near $205 on the hourly chart of ETH/USD (data feed via Kraken). The pair could avoid a significant decline if it breaks…

Bankrupt Hertz Rings BlackRock’s Stock Market Warning- And It’s Only Beginning

May 25, 2020 boss

BlackRock CEO Larry Fink warned against mass bankruptcies and a stock market downtrend in early May. Hertz, which was valued at $2.8 billion in February 2020, filed for Bankruptcy. Many of the 30.2 million small businesses are at risk of bankruptcies. When the U.S. stock market was rallying earlier this month, BlackRock CEO Larry Fink warned against mass bankruptcies and a potential tax rate hike. His prediction is now becoming true, as rental car giant Hertz filed for bankruptcy. Hertz was valued at around $2.8 billion as of February 2020.…