Chainlink Competitor Band Protocol (BAND) Surges 45% In 5 Minutes: Here’s Why

It seems that the days of explosive crypto gains are back. In the span of about five minutes, Band Protocol (BAND) gained approximately 45% against the U.S. dollar as buying volume surged. The chart below is from Alex Kruger, an analyst in the cryptocurrency space. It shows that the asset jumped from the $5.40 high it was trading at towards a local high of about $7.91 within the span of one four-hour candle. Chart of BAND’s recent price action from Alex Kruger. Chart originally from Binance. According to data from…

S2F Price Model Suggests Bitcoin Price Hits $100K – Author Claims Model Is Perfectly on Track

The author of the controversial bitcoin stock-to-flow (S2F) price model said that at current prices the S2F model is “perfectly on track.” S2F shows the price could hit around $30,000 by the year’s end and by August 2021 prices could be $100,000 per bitcoin. The crypto asset bitcoin (BTC) is up over 24% over the last 30 days and up more than 16% during the last 90 days. BTC touched a 2020 high of just above $12,000 per coin before tumbling 10.9% last Sunday. With the price giving traders optimism…

Ethereum’s Rise is Speculative While Bitcoin’s Price Is Based on Fundamentals

In its August crypto outlook, Bloomberg remained unimpressed with Ethereum, calling its rally “speculative”. The publication contends, however, that Bitcoin’s (BTC) rise is based on solid ground: “Ethereum has extended last year’s highs and leaped to one of the top-performing major crypto assets in 2020, but we view its rally as more speculative vs. the favorable demand vs. supply conditions supporting Bitcoin.” Ethereum’s competition The report points out that Ethereum faces “plenty of competition from similar crypto platforms and about 6,000 tradable coins.” On the other hand, Bloomberg has remained…

3 Ways US Fed Printing Is Fueling Huge Gold, Silver and Bitcoin Rally

The prices of gold, silver, and Bitcoin (BTC) are all rallying in tandem, as various macro factors boost alternative assets. As gold rose to a new all-time high at $2,055, BTC rallied to $11,715 on the day, recording a 4.28% increase. Gold-USD. Monthly chart. Source: TradingView.com As the three assets see stronger momentum altogether, there are three factors to consider. These are: gold’s correlation with Bitcoin, the effect of the declining U.S. dollar on alternative assets, and increased liquidity stemming from aggressive monetary policies from central banks. Bitcoin’s increasing correlation…

Blockchain Salaries in China Are Exploding in Value As The Industry Expands

The latest figures from Chinese recruiting platforms show that blockchain-related salaries are on the rise across China. This is likely due to high demand for specialists in the sector. According to Chainnews, quoting statistics from Zhaopin, “hundreds” of companies in China have been hiring staff for blockchain-related jobs. Monthly salaries start at $2,865 on average. This figure has skyrocketed from an average of $1,230 last year. Higher salaries are being offered to candidates who have more than three years of experience in the blockchain space. For people fitting this criteria,…

XRP is Struggling to Break Key Resistance; Will This Stop It from Going Parabolic?

XRP has been incurring some incredibly strong price action throughout the past few days, allowing it to erase some of the underperformance it had been experiencing throughout the past several weeks. The cryptocurrency is now pushing up against a crucial resistance level that has yet to be broken above for an extended period of time. One analyst is noting that this level may continue acting as strong resistance in the days ahead, with another rejection here potentially doing significant damage to its near-term outlook. There is one striking fractal that…

Market Wrap: Bitcoin Trudges Past $11.7K as DeFi Lending Rates Gyrate

Bitcoin gained Wednesday while DeFi interest rate volatility is causing concern over its long-term viability. Traders are mostly buying bitcoin Wednesday, with the world’s oldest cryptocurrency going as high as $11,735 on spot exchanges such as Coinbase.  “I think we’ll hit $12,000 by Friday. There’s a lot of momentum in the market just now,” said Chris Thomas, head of digital assets for broker Swissquote. “Tuesday was a pause for breath, but we didn’t react negatively.”  Thomas noted bitcoin spot volumes have been rising this past week after a month of…

Bitcoin Is for the Young and Gold for the Old, Says JPMorgan

Bitcoin (BTC) and gold appear to be the popular asset choices for investors depending on their age group. Haven assets are seeing significant price increases as worry mounts over the future of global economies amid the ongoing coronavirus epidemic. COVID-19 Fears Pushing Investors to Bitcoin and Gold According to Bloomberg analysts, investors are flocking to Bitcoin and gold as hedges against perceived weaknesses in the equities market. Interestingly, older investors are increasing their exposure to gold while younger traders are ‘stacking sats.’ Gold has been the de facto haven asset…

Hedgeye CEO Keith McCullough on Stagflation, Bitcoin & the Dollar -CoinDesk

One of the realest people in financial media joins for a conversation about where the economy really is and where it’s headed. Our main conversation is with Hedgeye CEO Keith McCullough. Before building Hedgeye into a “no-excuses provider of real-time investment research and a premier online financial media company,” Keith worked at hedge funds including Carlyle Blue Wave Partners hedge fund, Magnetar Capital, Falconhenge Partners and Dawson Herman Capital Management. In this conversation, he and NLW discuss: Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives…

Price Analysis 8/5: BTC, ETH, XRP, BCH, BSV, LTC, ADA, BNB, LINK, CRO

If Bitcoin can reclaim the $12,200 level, several altcoins are likely to resume their uptrend. Square’s Cash App product has generated $875 million in revenue from Bitcoin (BTC) trading in the second quarter of this year. This is a 600% increase over the comparable quarter in the previous year. This shows increased trader interest, which could have been spurred by the cash heavy “government stimulus programs.” The recent breakout of Bitcoin above the $10,000–$10,500 zone could spark further interest among traders. Twitter personality Dave Portnoy has shown interest in knowing…