Day: August 16, 2020

Bitcoin ‘Whale Clusters’ Show $14K as Pivotal for BTC Price Bull Run

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David Puell, an on-chain analyst, laid out several key data points on Aug. 16 based on the past 4-year cycle of Bitcoin (BTC). Data show that the $14,000 level is a crucial price point for Bitcoin due to whale clusters. According to Puell, whale clusters show many large buyers bought in the $9,000 to $12,000 range. Whales that bought at $9,000 are seeing relatively high profits, and those that bought the top are at a breakeven point. The clusters could result in a volatile price action where buyers and sellers…

The Importance of Developing the Decentralized Finance Space

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The rapid growth of the decentralized finance space, the rise in demand, the improvement of its protocols, and the breadth of offered services and opportunities will provide retail users with the options they are sorely lacking in the existing financial system. And it will enable institutions to move real-world assets onto the blockchain, generating untold cost-savings and improved efficiencies. But it doesn’t have to be a violent revolution. DeFi doesn’t necessarily need to overthrow the incumbent system. I believe that DeFi will complement traditional finance, force it to do better,…

Lukka Co-CEO Explains How Blockchain Data Saves on Taxes

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On July 30th, over thirty of crypto’s top minds gathered for the largest single-day livestream trading event of its kind. Nine star-studded panels included mainstream trading expert Jon Najarian, macro investors Mike Novogratz and Raoul Pal, and technical analysis specialists Erik Crown and Tone Vays, among many others. Head over to the Cointelegraph YouTube channel now to watch the full recording of Cointelegraph Crypto Traders Live! The Cointelegraph Crypto Traders Live event was made possible by data company Lukka. Lukka focuses on processing blockchain and tokenized asset data to support…

Bitcoin (BTC) has a 30% Chance of Hitting $17k by EOY – Crypto Analyst

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In summary: Crypto Analyst Timothy Peterson has stated that Bitcoin’s odds at reaching $17k by the end of the year stand at 30%. $17,200 was Bitcoin’s peak value in 2018. If Bitcoin hits $17k, it would fulfill another price prediction by Bitcoin analyst MagicPoopCannon. In the month of August, Bitcoin (BTC) has attempted to break the $12,000 resistance zone on four occasions. Two of the four attempts have been in the last 48 hours with Bitcoin pushing as high as $11,984 and $11,977 respectively. If Bitcoin manages to break the…

EOS Price Surges 10% and Technicals Suggests Rally Above $4

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EOS price started a strong increase after it broke the $3.300 resistance zone against the US Dollar. A new monthly high is formed near $3.871 and it seems like there are chances of more upsides. EOS formed a strong support base above $3.000 and rallied over 10% in the past few hours. The price settled nicely above the $3.500 pivot level and the 100 SMA (H4). There was a break above a key bearish trend line with resistance near $3.200 on the 4-hours chart of the EOS/USD pair (data feed…

Revisiting the Crypto Tech Hype

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Talk of cryptocurrency and blockchain-powered gadgets inevitably spiked alongside the hype for token prices. But looking back, have they delivered any meaningful changes to users, or are they just another result of the hype synonymous with the space?  The surge of interest in the space came to a head in 2017 as Bitcoin (BTC) hit never-before-seen highs of around $20,000 before crashing dramatically and entering the bearish crypto winter. While the collapse left devastation in its wake, the months of focus brought Bitcoin, cryptocurrency and blockchain technology into the mainstream…

This Massive Bull Flag Could Send XRP Flying Towards $1.00

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XRP has been hovering around the $0.30 region for the past couple of days, with its price breaking back above this level after an extended bout of trading beneath it. The cryptocurrency’s price action in recent weeks has been somewhat mixed, with its rally from the lower-$0.20 being a sign of overt strength, while the multiple rejections it posted at $0.33 seemed to spell trouble for its near-term outlook. Analysts are generally bullish on XRP at the moment, however, as multiple are noting that its recent consolidation phase may be…

Is Bitcoin Really In a Bull Market? Here’s Why Analysts Think BTC Isn’t

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Bitcoin has done extremely well over the past few weeks. Since the start of July, the leading cryptocurrency has gained approximately 30% against the dollar, outperforming a majority of other macro assets. In rallying 30%, BTC has decisively flipped $10,500 into a level of support. To some commentators, this was the one level that Bitcoin needed to turn into support to confirm the start of a bull market. Despite Bitcoin doing so, there are some still hesitant to admit that the asset is in a full-fledged bull market. Here’s why…

Bulls Stampede Toward $12K Bitcoin Price as Weekly Close Approaches

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Bitcoin price is making a strong push toward $12,000 with just 24-hours before the weekly close occurs Despite multiple rejections at the $12K mark, BTC continues to make higher lows and traders are buying dips at underlying support levels Chainlink reached a new all-time high at $19.80 and Ether is struggling to push above $430 Cryptocurrency daily market performance snapshot. Source: Coin360 Typically, for Bitcoin (BTC), weekends are marked by reduced trading volume as day traders take a break and the CME Bitcoin markets are closed.  Experienced traders will also…