Day: August 2, 2020

How to buy Bitcoin in 2020?

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Bitcoin is the magical icon in this era! People all over the globe wants to acquire it! More than the virtual currency, Bitcoin has become the class. Once people scared of these kind of things and hesitate to invest in it because of security issues. Now in 2020, the world got enough clarity for cryptocurrencies and really wants to buy it. The jet speed price growth is another important factor that makes people crazy on bitcoins, In the year 2012, the price of a BTC is 13USD and now the…

If Bitcoin Consolidates Around $12,000, Expect a “Much Bigger” Rally: CEO

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It hasn’t been the best past few hours for Bitcoin bulls. The leading cryptocurrency took a $1,500 price drop in the span of about five minutes, liquidating hundreds of millions worth of long positions as buyers were overextended. Bitcoin has since bounced back to $11,300, yet the rejection at $12,000 is still clear as day. For BTC to continue higher, an industry executive thinks BTC must retake and hold the $12,000 region. He made the same comment in May 2019, which was before BTC also consolidated under $12,000 before exploding…

Various Crypto Mining Strategies Underline Industry’s Growth Potential

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Over the course of the past few years, the cryptocurrency mining sector has started to gain a lot of mainstream financial traction. For example, market research firm Technavio recently released startling data claiming that the global mining hardware market is all set to grow by a whopping $2.8 billion between 2020 and 2024. This incredible surge was attributed to the rising popularity of mining pools, most of which are currently concentrated in China.  Not only that, over the course of the past few months, companies like Btc.top have been seeking…

$1 Billion Liquidated as Bitcoin Price Crashes by $1.4K in Minutes

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The price of Bitcoin (BTC) and Ethereum’s Ether (ETH) plunged by 13% and 21%, respectively, within minutes on Aug. 2. The move liquidated more than $1 billion worth of futures contracts as BTC/USD dropped from around $12,000 to as low as $10,550. BTC/USD 1-hour chart. Source: Tradingview There appear to be two main reasons behind the sudden cascade of liquidations. First, the volume in the cryptocurrency market tends to drop during weekends. Second, the market was heavily swayed to longs or buyers. Cryptocurrency market snapshot, Aug. 2. Source: Coin360 Surprise…

Ethereum Nosedives From $415, But Technicals Suggest Uptrend Isn’t Over Yet

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Ethereum rallied more than 5% and broke the $400 resistance against the US Dollar. ETH price retreated sharply from $415, but technicals suggest uptrend remains intact above $340. ETH price surged above the $380 and $400 resistance levels against the US Dollar. There was a strong bearish reaction from the $415 level and the price dumped more than $50. There are two key bullish trend lines forming with support near $365 and $340 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely to recover and…

Stablecoins Thriving Amid Financial Uncertainty

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As a new COVID-19 stimulus bill is debated in the United States Senate and Bitcoin (BTC) begins to bounce back from its volatility lows, the demand for stablecoins continues to grow. Powered both by the stability that they provide to tokenholders and the demand created by decentralized finance lending and yield farming, stablecoins — Tether (USDT) in particular — continue to hit record figures consistently. According to a report by cryptocurrency data and research firm Messari, USDT may soon become the cryptocurrency with the greatest daily transaction volume in terms…

Bitcoin Just Broke $12,000, As Bulls Take Over Crypto Market

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Bitcoin is up over 5% and it surged above the $11,500 resistance zone against the US Dollar. BTC touched the $12,000 market and it seems like the bulls are taking over the crypto market. Bitcoin is gaining bullish momentum and it broke the $11,500 resistance zone. The price even traded above the $11,800 level and settled above the 100 simple moving average (4-hours). There was a break above a crucial contracting triangle with resistance near $11,260 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair…

New 2020 Bitcoin Price High at $11,965 Proves Bulls Remain in Control

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After securing a strong daily close, Bitcoin (BTC) price continued to press higher by cruising through the $11,900 level within the last hour. Crypto market daily price chart. Source: Coin360 Breaking through the $11,500-$11,800 range was the bulls most significant achievement of the last week and a number of analysts have noted that above the $12,000 level there is little overhead resistance. This has led some traders to forecast a swift move to the $14,000-$15,000 level. In a previous analysis, Cointelegraph contributor Micheal van de Poppe said that: “The $11,500-11,800…

These 2 Factors Are Behind Bitcoin’s 20% Eruption Higher: Industry Executive

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As made abundantly clear by derivatives data, there were many market participants caught off guard by Bitcoin’s ongoing rally. In fact, in the past week alone, reports indicate that there was in excess of $1 billion worth of short positions liquidated on margin platforms like BitMEX. Bitcoin rallying 20% in a week, after all, is quite the accomplishment — even for the cryptocurrency. BTC Chart from TradingView.com Even more confusing is what caused this rally. According to Cameron Winklevoss, the Bitcoin billionaire that co-founded Gemini with his twin brother Tyler,…

Dispelling the Myth That Bitcoin Proponents Want a Cashless Society

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Bitcoin and a great number of other cryptocurrencies are electronic versions of currency. Many people falsely assume that crypto proponents are for a cashless society and this is certainly not the case. If we removed the central banks’ printing fiasco and the inflationary practices from cash, we all know that cash is great for anonymity and fungibility. But the nation-states and central banking cabal are in charge of the fiat game and the monetary system today does come with serious manipulation and inflation. Most crypto supporters, just because they support…