Category: Analysis

Voyager Digital Set to Enter European Market with LGO Merger

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As part of the deal, the LGO and VGX token holders can swap their holdings to the new token that will come with decentralized finance (DeFi) features along with the function of staking rewards. On Thursday, October 22, licensed and publicly traded digital asset brokerage company Voyager Digital announced its merger with the French crypto exchange LGO through its new buyout offer. The company sees this acquisition as expanding its institutional services while stepping into the European market. However, the transaction still has regulatory approval pending and is likely to…

After $1,200 Surge, Bitcoin Faces Down a Pivotal Resistance Level

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Bitcoin has seen an absurd bout of price action over the past few days. The leading cryptocurrency, after falling to $11,200 last week, surged as high as $13,250 on leading exchanges on Wednesday. The coin has since whipsawed since hitting those highs, dropping and rallying by hundreds of dollars below that high as investors gauge the direction of BTC. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Faces Down a Pivotal Resistance Level Bitcoin is facing down a pivotal resistance level after the aforementioned price…

Peloton (PTON) Shares Lose 5% After Goldman Sachs Downgrading

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While Goldman Sachs is neutral on Peloton shares, KeyBanc Capital Markets analyst Edward Yruma raised his price target for the shares in anticipation of imminent bullish price moves. The shares of Peloton Interactive Inc (NASDAQ: PTON) is taking a big bearish dive after an analyst from Goldman Sachs Group Inc (NYSE: GS) revised his position on the stock. The analyst Heath Terry revised Peloton Interactive’s shares to neutral from the previous buy rating and attributed this to the overvalue of the stock since it was included in the “Americas Buy…

Now It Is More Popular than Sex

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Bitcoin is remarkably popular for many reasons. While many people see it as a means of facilitating cash transactions, others have tagged it as a security with the potentials to yield great returns. Bitcoin (BTC) popularity is undoubtedly growing not just among tech-savvy millennials but among people who seek an alternative to the exploitative tendencies of traditional finance. Bitcoin though without a spelled-out yardstick for measuring its popularity has just been noted by a Reddit user to have gained more subscribers than the sex subreddit channel as well as the…

Aave, Ren, Chainlink Surge 10%

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Earlier this week, all eyes were on Bitcoin, not DeFi. The leading cryptocurrency shot a handful of percent higher while altcoins actually began to move lower against the dollar, sometimes by 5-10%. Some DeFi coins actually dropped 15% on the day that Bitcoin shot 2-3%. This trend did not persist, though. Altcoins have begun to recover against the leading cryptocurrency over the past day, with some actually managing to outpace the previously-dominant Bitcoin. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom DeFi Coins Bump Higher Amid…

Bitcoin Plunges $600 in 6 Minutes, Then Bounces Amid Price Surge

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Bitcoin has seen an absurd amount of intraday volatility over the past day amid the best price action in many months. The coin currently trades for $12,900, a few hundred dollars shy of the daily and year-to-date high set just minutes ago at $13,250. Bitcoin plunged as low as $12,600 on futures platforms during that move lower. That meant from the daily highs, the cryptocurrency retraced $600. This volatility is expected as the cryptocurrency remains up around 9% in the past 24 hours, or over $1,000. Analysts are taking note…

Sellers Step In As Bitcoin Soars, But Could Lead To Short Squeeze Higher

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Bitcoin price nearly hit $13,000 today after an almost $1,000 intraday candle tapped the remaining bear market resistance keeping new all-time highs at bay a little while longer. With so many traders in profit, short-sellers have stepped up in a major way, opening millions in positions betting big that the recent uptrend will soon reverse. However, with so much money on the line, a potential setup for an epic short squeeze could keep the cryptocurrency trucking right along – which these short sellers might actually be perfectly fine with. Here’s…

Bitcoin Could Soon Post First Weekly Close Above $12,000 Since 2018

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Bitcoin is currently in the throes of a strong uptrend that has allowed it to recapture all of the gains that were lost following its decline from $12,400 seen in late-August. The cryptocurrency set fresh yearly highs today when it rallied up to $12,500 – a level that is now acting as resistance. Whether or not it continues pushing higher in the near-term will likely depend largely on whether or not bulls can continue expanding upon the momentum that has been built over the past few days. Unlike previous rallies…

PayPal Partners with Paxos to Enable Crypto Services

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In the future, PayPal plans to work with global central banks to further tap on digital assets’ capabilities. American payment company PayPal Holdings Inc (NASDAQ: PYPL) has partnered with Paxos Trust Company to provide crypto services. Notably, PayPal has also been granted a conditional Bitlicense by the New York State Department of Financial Services (NYDFS). The move by the giant payment processing company to enter the crypto market is viewed as a huge disruption in the entire financial market. Hereby, PayPal will allow its users to purchase, sell, and hold…

Bybit Adds New Trading Pairs as Exchange Volume Grows

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To promote the launch of four new trading pairs, Bybit is offering users a discount on trading fees and is running a lottery program to incentivize participation. Bybit has added support for several new trading pairs to its derivatives exchange, bringing the number of cryptocurrencies it supports to seven. Perpetual contracts for USDT with ETH, LTC, XTZ, and LINK have been added to the derivatives platform, which continues to go from strength to strength. The introduction of new markets, at a time when other derivatives exchanges are mired in trouble,…