Category: Analysis

Bitcoin Price Retests $8,000 Following 21.37% Drop

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Bitcoin has made a come back following three days of depressive price movements that led to a 21.37 percent drop. The world’s leading cryptocurrency started Sunday while trending in positive territory. The asset’s rate against the US dollar surged by circa 11 percent to settle a session high at $8,041 on Coinbase exchange. The move brought approximately $12 billion to the bitcoin market, with maximum influx coming from Tether’s stablecoin USDT. Nonetheless, the uptrend slowed down ahead of the European session, hinting that a downside correction might still be underway.…

Here’s What Triggered Bitcoin Price Above $8,000

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By CCN: The bitcoin price has surged by seven percent in the past several hours from $7,300 to around $8,000 in major markets including the U.S., demonstrating a strong recovery from its abrupt drop to $6,400. The bitcoin price surges seven percent in less than four hours (source: coinmarketcap.com) On May 17, as CCN reported, the bitcoin price briefly plunged to $6,400 by more than 18 percent against the U.S. dollar. Market eating up an 18% bitcoin drop quickly is a sign of positive sentiment Analysts including Dovey Wan, a…

Ethereum (ETH) Price Surging: Bulls Eyeing Fresh 2019 High

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ETH price started a fresh increase after a sharp downside correction towards $225 against the US Dollar. The price is currently gaining traction and it broke the $240 and $245 resistance levels. There is a crucial bullish trend line in place with support near $236 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is surging higher and it seems like there could be more gains towards the $275 and $285 levels. Ethereum price is once again gaining bullish momentum versus the US Dollar, similar to bitcoin.…

Despite Bitcoin (BTC) Stagnation, Economist Has High Hopes For Crypto

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Bitcoin (BTC) bears slow down In 20-30 years Bitcoin will be money says a BoE Chief Economist Andrew G. Haldane, the Chief Economist of the Bank of England, believes Bitcoin will be money in the next two to three decades. Presently, BTC is trending within a $30 range as bears attempt to press lower. Bitcoin Price Analysis Fundamental Well, it has been a see-saw for Bitcoin and most cryptocurrencies because of their direct correlation with the king. Although some skeptics as Roubini and traditional market influencers as Kevin O’Leary of…

Ripple (XRP) Bulls Firm despite Coin Metric Report

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Ripple (XRP) up 25.6 percent Ripple Labs exposed by Coin Metrics as David Schwartz says it is a “timeline issue.” Coin Metrics now reports that Ripple Labs did under-reported the number of XRP released from escrow by a total of 200 million XRP while implementing the “escrow queue” differently than announced. The reaction could be heaping pressure on XRP which is fast dropping, clawing back this week’s gains. Ripple Price Analysis Fundamentals According to a Coin Metrics report, Ripple Labs is allegedly misrepresenting the actual amount of XRP in their…

Crypto Market Testing Crucial Support: Bitcoin Cash, Litecoin, EOS, XLM Analysis

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The total crypto market cap declined sharply and tested an important support near $210.0B. Bitcoin price is showing signs of a decent recovery above the $7,200 support level. Litecoin (LTC) price failed to stay above the $100 level and recently declined below $90. Bitcoin cash price is down more than $90 from the recent high and broke the $380 support. EOS price is once again below the key $6.20 and $6.00 support levels. Stellar (XLM) price is gaining traction and it is up more than 7% to $0.1310. The crypto…

Bank of England’s Chief Economist Thinks Bitcoin Could Replace Cash

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It took bitcoin an 85 percent crash followed by a 135 percent recovery to convince a prominent financial expert about its underlying potential. Andrew G Haldane, the chief economist of the Bank of England, said bitcoin is on its way to replace cash, according to an eyewitness’s account. The 51-year academic made the statement when he was interacting with an audience of students. One of them asked Haldane about his thoughts on the future of cryptocurrencies. Haldane replied that he believed bitcoin, in particular, would become as relevant as cash…

Roger Ver Provides More Evidence that Craig Wright is Not Satoshi

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Satoshi Craig Wright sued Bitcoin Cash figurehead, and former business partner, Roger Ver for libel after being called a “fraud and a liar.” Ver responded by seemingly debunking Wright’s claim that he controlled several high-profile Bitcoin addresses. For two weeks we thought that tensions between Satoshi Wannabe Craig Wright and the rest of the planet had been quieted down. However, seems that poor Wright needed money to pay out Calvin Ayre’s sun tan he is getting in Antigua so he decided to show up again. Well, at least he stays…

Bitcoin (BTC) Price Near Inflection Point: Fresh Increase Likely

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Bitcoin price declined heavily yesterday and traded close to the $6,650 support against the US Dollar. The price traded as low as $6,645 and it is currently recovering towards the $7,400 level. There is a key bearish trend line forming with resistance at $7,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair needs to clear the $7,400 and $7,512 resistance levels to start a strong upward move. Bitcoin price seems to be forming a new support base above $7,000 against the US Dollar. BTC…

Crypto Bulls and Bears Wrestle on What Comes Next for the Bitcoin Price

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By CCN: Many in the crypto community remained calm and banded together despite the steep drop in the bitcoin price on the heels of an otherwise incredibly bullish month. Bitcoin’s value was slashed by approximately $21 billion in the last 24 hours, with the BTC price currently holding above the $7,000 threshold. The declines were traced back to a mega sell order on Bitstamp exchange, either creating an opportunity for investors who missed the previous run or providing a warning before the other shoe drops. Of course, crypto bulls and…