Day: August 31, 2020

Ethereum Smashes Heavy Resistance: Next Bullish Levels Traders Should Watch

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Ethereum gained bullish momentum above the $406 resistance against the US Dollar. ETH price is up over 5% and it seems like the bulls are aiming a test of $445 in the coming days. Ethereum climbed higher steadily and broke the $400 and $406 resistance levels. The price is now trading nicely above the $420 level the 100 hourly simple moving average. There is a short-term breakout pattern forming with resistance near $430 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct a few points,…

Bitcoin Shows Signs of Reversal; But $12,000 Holds The Key For Strong Rally

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Bitcoin price is showing reversal signs above the $11,550 resistance against the US Dollar. BTC must surpass the $12,000 resistance for a sustained upward move. Bitcoin started a steady rise above the $11,500 and $11,550 resistance levels. The price traded as high as $11,731 and it settled above the 100 hourly simple moving average. There is a major ascending channel forming with support near $11,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to accelerate higher if it clears the $11,800 and…

Binance advertising BTC at London bus stops in advance of UK launch

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The world’s largest cryptocurrency exchange, Binance, has targeted London commuters with new ads featuring Bitcoin. According to an Aug. 28 tweet from Binance.UK, the crypto exchange has placed new ads at 17 bus stops in London. The image shows two older generations of coins as well as a current two-pound coin used in the U.K, followed by the largest, Bitcoin.  “Money is evolving,” the ad states. “It’s time to adapt.” #Bitcoin is taking over London! 🇬🇧 pic.twitter.com/FBGeEe3pgV — Binance (@binance) August 30, 2020 Binance announced its expansion into the U.K.…

Barstool’s Dave Portnoy Is Preparing to Re-Enter the Bitcoin & Crypto Market

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Dave Portnoy has been dabbling in the crypto and Bitcoin market for a few weeks now. After being reintroduced to the cryptocurrency market by Twitter, the Barstool Sports founder and celebrity day trader has been frequenting Crypto Twitter. It reached a point where he was introduced to the Winklevoss Twins, who co-founded the Gemini crypto exchange. Portnoy was then visited by the twins, who convinced him to buy Bitcoin and Chainlink (LINK). According to the Barstool founder, he purchased around $200,000 worth of Bitcoin and $50,000 worth of Chainlink. The…

Japanese crypto traders ditching XRP and MONA for Bitcoin

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The vast majority of Japanese crypto traders who started getting into the market in the last year may be investing solely in Bitcoin. According to data published on Aug. 19 from the Japan Virtual and Crypto Assets Exchange Association (JVCEA), Bitcoin’s dominance relative to altcoins in the Japanese market reached more than 87% in April. No other token accounted for more than 6% of monthly volume traded. In the same month, the number of active accounts for spot crypto trading in Japan increased by 13,987, an all-time high at the…

Chainlink Bulls May Target $19.00 as Long as They Hold One Key Level

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Chainlink has been flashing some signs of strength throughout the past few days and weeks, with the cryptocurrency’s securing a relatively strong foothold above the $17.00 region following its latest surge. It has established the upper-$17.00 region as resistance, as a rally up to this area earlier today was followed by a strong rejection that sent the crypto plunging to lows of $16.50. Bulls are now ardently defending against a dip below the $17.00 region, as a confirmation of this level as support may provide it with enough momentum to…

Ethereum price rallies above $400 resistance on bullish ETH options data

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Ether (ETH) options open interest grew by 230% to reach $393 million in the past three months. Although this is an impressive figure, it doesn’t fully reflect how the derivative instruments being used. Ether options open interest, USD. Source: Skew Strike levels appear bullish The first thing one should take note of is the most used price levels (strikes). Once again, this information does not provide a clear picture of whether these options are mostly used for bullish or bearish strategies. In general, a chart heavily populated with strikes below…

YFI Surges to 38K, BTC Comeback Predictions and Ryanair CEO’s Fury

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Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week.   Top Stories This Week   YFI price soars to $38,800 hitting $1 billion market cap — Can it go higher? Yearn.finance’s founder, Andre Cronje, has warned that YFI tokens are “worthless” — but this hasn’t stopped them from rising even higher over the weekend. YFI surged by more than 75% in 24 hours — achieving a new all-time high of $38,883. (Prices have cooled since then, falling to $29,876 at the…

There’s a Chance Bitcoin “Barely Moves” in this Bull Market

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Bitcoin has seen extreme strength over recent weeks, rallying around 30% in the past month. One pioneer in the cryptocurrency space thinks, though, that BTC may not see a great bout of price appreciation this market cycle. Related Reading: These 3 Trends Suggest Bitcoin Is Poised to Bounce After $1,000 Drop Synthetix Founder Doesn’t Think Bitcoin May Explode Higher This Cycle Synthetix’s founder Kain Warwick thinks that Bitcoin may actually be a dormant investment during this market cycle. On August 30th, the pioneer in the DeFi space took to Twitter, writing…