Ethereum Near Inflection Zone, Why ETH Could Tumble Below $570

Ethereum traded to a new yearly high at $636 before correcting lower against the US Dollar. ETH price is showing bearish signs and it could decline heavily if there is a break below $570. Ethereum started a downside correction after trading to a new yearly high at $636. The price is trading below the $600 level and approaching the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $590 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely…

Reuters runs the headline Bitcoiners have longed to read

The U.S. Dollar Index fell sharply today, extending a 10 month losing streak that places it at the lowest point since April 2018.  International news agency Reuters marked the occasion with a story headlined: “Dollar plummets on U.S. stimulus hopes; Bitcoin hits all-time peak”. The article noted the tumble coincided with today’s news of a second COVID relief bill being discussed in Congress and the recommencement of negotiations between the U.S. Treasury Secretary Steve Mnuchin and House of Representatives Speaker Nancy Pelosi. The piece contrasted the falling dollar with the…

Bitcoin Correcting Gains, Why 100 SMA Could Trigger A Larger Decline

Bitcoin price formed a new yearly high close to $20,000 before correcting lower against the US Dollar. BTC could accelerate its decline if there is a clear break below the 100 hourly SMA. Bitcoin is currently correcting lower below the $19,500 and $19,000 levels. The price is approaching a key support at $18,350 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $18,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline heavily if…

Ten crypto leaders are in the new Forbes 30 Under 30 list

Ten of the youthful business leaders featured in this year’s Forbes’ 30 Under 30 list work in blockchain and cryptocurrency, highlighting increasing acceptance of the industry from the mainstream media. Despite its name, the list actually highlights 600 young people across various categories — with the crypto alumni including seven individuals in the finance category, one in venture capital, one in energy, and one in manufacturing. The finance category features the founder of the $1.2 billion crypto derivatives exchange FTX, and quantitative trading firm Alameda Research, Sam Bankman-Fried. Since launching…

This Economic Model Predicts a $200,000+ Bitcoin Price by 2022

Bitcoin has been on a wild ride throughout the past few days, with bulls sending the cryptocurrency rocketing up to fresh all-time highs yesterday around $19,800 before losing their strength and succumbing to bears. From here, the cryptocurrency’s price saw a vicious decline that sent it all the way down to lows of $18,200. The buying pressure here was quite intense and sparked a nearly instant rebound. It rallied as high as $19,400 this morning before facing an influx of selling pressure that slowed its ascent and caused it to…

Pomp talks Shark Tank’s Kevin O’Leary into buying ‘a little more’ Bitcoin

Canadian businessman Kevin O’Leary, who appears on the reality TV show Shark Tank, has seemingly softened his stance on Bitcoin after speaking with Anthony ‘Pomp’ Pompliano.  In an episode of the Pomp Podcast released today, Shark Tank’s Kevin O’Leary appeared to be moving past his statements last year when he declared that Bitcoin (BTC) was “not a real currency” — though he still expressed concerns about the crypto asset’s volatility. The businessman said that he already owned some BTC and he might consider investing “a little bit more” of his…

Why Bitcoin Is Overdue For A Steep Correction

FOMO has returned to the crypto market in a major way, now that Bitcoin has set a new all-time high price record. But as more buyers pile in after an already nearly 200% rally in 2020, indicators are reaching extreme readings of overbought conditions, that nearly every time in the past has resulted in a strong correction. Here’s why this time won’t be different, and why the leading cryptocurrency by market cap is overdue for a steep correction. FOMO Reaches Frenzy Level As Bitcoin Sets New All-Time High Bitcoin is…

Ethereum’s market cap surpasses GM, CME, and tech stocks — What’s next?

2020 has been an impressive year for the Ethereum network and Ether (ETH) price. In November the Eth2 deposit contract quietly launched and before the end of the month the contract had reached capacity with 524,288 Ether locked.  When Black Thursday occured on March 12, nearly every cryptocurrency had its price crushed and Ether was not spared from the carnage. After trading for as little as $86 on March 12, Ether price recovered to post a year-to-date gain of 322% and the altcoin set a 2020 high at $635.70 on…

Crypto.com secures an Australian Financial Service License

Crypto exchange and debit card provider Crypto.com has completed the acquisition of an Australian financial services company in order to secure an Australian Financial Service License, or ASFL. The acquired firm, named The Card Group Pty Ltd, has been described as specializing in “prepaid card, mobile, and wearable solutions” for enhancing cardholders’ engagement. Crucially, the firm was already approved by Australia’s Foreign Investment Review Board, paving the way for Crypto.com’s ASFL. With an ASFL under its belt, Crypto.com will be licensed to legally issue its proprietary card in Australia and to establish…

XRP Could Target a Move to $1.80 as Technical Strength Flourishes

XRP has been one of the most surprising beneficiaries of the recent market-wide uptrend, with the previously embattled cryptocurrency exceeding Bitcoin’s gains over a short time frame while also outpacing Ethereum and other major altcoins. Its strength came about following the break above a multi-year trading range that it has been stuck in between $0.20 and $0.30. Once $0.30 was flipped into support, it began its parabolic ascent. Its momentum is now slowing down due to a few key resistance levels, but where it trends next will likely depend on…