Category: Analysis

Yes, EOS, Litecoin, and Ethereum Are Up A Lot, But No, “Altseason” Isn’t Here Yet. Here’s Why

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Major crypto assets like EOS, Litecoin, and Ethereum are up by around five percent on average, and investors have been quick to call the start to an altseason. In crypto, an altseason refers to when so-called alternative cryptocurrencies begin to surge in value amidst rising momentum in the market. Many crypto assets have increased significantly in value over the past two weeks, but considering their steep fall from record highs and their performances in comparison to bitcoin, it is still too early to call it an altseason. How have major…

Ethereum to See Biggest Upgrade Ever Says Investment Fund, And Future is “Bright”

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Ethereum, the second most valuable blockchain network in the global market, will see its biggest upgrade ever soon. Chromatic Capital managing director Grant Hummer says if successfully implemented, it will create major improvements that would make the so-called “ETH 2.0” significantly better than the current version. For many years, the Ethereum developer community has tried to implement second-layer solutions and make a big pivot to the proof-of-stake (PoS) consensus algorithm. Unlike the proof-of-work (PoW) algorithm, which requires miners to mine blocks to process transactions like with bitcoin and Ethereum’s current…

Bitcoin Crucially Smashes Heavy Resistance: Next Bullish Levels Traders Should Watch

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Bitcoin rallied more than 5% and broke key hurdles near $8,250 and $8,500 against the US Dollar. BTC price might continue to rise towards $8,780 and $8,800 in the near term. Bitcoin price is gaining bullish momentum above the $8,400 resistance against the US Dollar. There was a crucial upside break above the range resistance near $8,200. Yesterday’s highlighted important bearish trend line was breached with resistance near $8,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct in the short term, but…

Bitcoin SV Rallies 20%: Here Is Why It Could Surge Further

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Bitcoin SV price rallied more than 20% recently and climbed towards the $200.00 resistance. BSV is currently trading with a strong bullish bias and it could even surge above $200.00 and $205.00. Bitcoin SV price is up more than $100.00 this month and doubled in the value against the US Dollar. The price is currently up more than 20% and it tagged the $200.00 resistance. There was a break above a major contracting triangle near $165.00 on the 4-hours chart of the BSV/USD pair (data feed from Kraken). It seems…

Troubling Sign: Bitcoin’s Surge to $8.2k Was Much Weaker Than to $12k, Data Shows

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Over the weekend, the bitcoin price spiked to as high as $8,200 prior to the highly anticipated weekly close. Despite it being the first strong breakout since November 2019, there was not enough buying demand to push it to higher levels. Many traders expected bitcoin to hit upper resistance levels including $9,000 supported by the upward momentum in the past three days. As the weekly candle closed below $8,500, bitcoin rejected the $8,200 to $8,400 range and dropped back to around $8,050. Drop from $8,200 could lead to a bigger…

BitMEX: Bitcoin Lightning Usage Higher Than Expected, And It’s Crucial For BTC

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According of a research report from BitMEX, the largest cryptocurrency margin trading platform in the global market, the usage of the lightning network on bitcoin has surpassed expectations. More than 60,000 lightning network non-cooperative channel closures were recorded, and around 6,000 BTC were spent for closure transactions. The lightning network is a second-layer scaling solution that allows users to transact using bitcoin with extremely low fees. Why lightning’s growth is crucial for bitcoin’s long-term trend A channel on the lightning network is like a opening a tab at a bar.…

This Key Sign Shows Bitcoin Bulls Are Accumulating: Important Levels to Watch

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Bitcoin price is confined in a range below the key $8,200 resistance against the US Dollar, suggesting a short term accumulation phase. BTC could either rally above $8,200 or it might dip to $7,700 before a decent bounce. Bitcoin is moving in a range between $8,200 and $8,000 against the US Dollar. The bulls are likely aiming an upside break above the $8,200 resistance area. There is a key bearish trend line forming with resistance near $8,170 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…

Ripple (XRP) Price Won’t Go Down Quietly: Risk of Bounce Grows

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Ripple is facing hurdles near the $0.2200 resistance against the US Dollar, similar to bitcoin near $8,200. XRP price is declining, but the bulls are likely to protect $0.2080 and $0.2070. Ripple price is correcting lower after it failed to surpass the $0.2200 resistance against the US dollar. The price remains well supported on the downside near the $0.2080 and $0.2070 levels. Recently, there was a break below a connecting bullish trend line with support at $0.2125 on the hourly chart of the XRP/USD pair (data source from Kraken). The…

Bitcoin May Have Just Rejected a Big Rally to the $9,000: Here’s Why

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The bitcoin price looked to be en route of surpassing a key resistance level at $8,250 that would leave it open to testing $9,000 and levels higher above it. But, the weekly close below $8,500 may leave it vulnerable for a steep pullback. In short-term trading, a weekly close is considered an important element that plays a factor in how the following week reacts. At crucial periods, a weekly close often dictates the price trend of bitcoin for many weeks that follow. Bitcoin unable to close above $8,500 and a…

Bitcoin Indicator That Called Rally to $14,000 Flashes Again

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Once again, analysts have started to flip bullish on Bitcoin again. Sure, the cryptocurrency is still down some 40% from its $14,000 peak from last year, but per a number of traders, an array of key technical indicators have suggested that BTC is ready to return higher once again. Related Reading: Crypto Tidbits: Elon Musk Pokes Bitcoin Bear, Japanese Giants Delve Into Cryptocurrency Mining, Baidu’s Blockchain Beta Key Bitcoin Buy Signal Flashes For First Time Since March Financial Survivalism, the cryptocurrency trader that last week called Bitcoin’s surge to above $8,000,…