US Dollar Could See Bearish Reversal: Is A Bitcoin Reckoning Coming?

The dollar has been in sharp decline. Analysts are calling for the global reserve to lose its crown to the likes of Bitcoin or the yuan. Sentiment has reached substantial lows. However, when dollar sentiment fell this low in the past, it often triggered a strong reversal in the currency. Such a reversal, if it happens again, could bring a day of reckoning to crypto assets. Dollar Sentiment Reaches Reversal Point, Despite More To Drop All markets are priced in USD due to the United States dollar’s role as the…

Will a Massive Bitcoin Accumulation Trend be Enough to Propel It Further?

Bitcoin is currently in the throes of a boring consolidation phase within the upper-$11,000 region. This comes as the cryptocurrency struggles to surmount the resistance that sits at $12,000. It is important to note that the growth its price has seen in recent times appears to be far more organic than those seen in previous years – suggesting that it is establishing a strong base for a fresh macro uptrend. One metric of this organic growth can be seen while looking towards exchange outflows, which have been rising rapidly in…

Why The Dollar’s Coming Dead Cat Bounce Could Be Devastating For Bitcoin

The dollar is in sharp decline, and it has allowed other currencies to gain the upper hand. It has also let Bitcoin, gold, altcoins, and other hard assets shine. But will a coming dead cat bounce in the dollar devastate recent crypto market returns and cause a temporary pullback? Or is this the start of a bigger comeback by the king of all cash-based fiat currencies? USD: After Dramatic Drop To Two Year Low, TD Sequential Triggers 9 & 13 Buy Signals Nearly every financial asset across any market is…

Exchange’s Bitcoin Balance Just “Dropped Off a Cliff” as Bullish Undercurrent Grows

Bitcoin is currently growing incredibly strong from a technical and fundamental perspective. One indicator of the digital asset’s fundamental strength is the massive exchange outflows seen throughout the past several weeks. The trend has been picking up steam as of late, and just a couple of days ago, the balance of BTC within exchange wallets fell off a cliff, hitting the lowest level seen in ages. Analysts are noting that this is a highly bullish development, as it suggests that the cryptocurrency is well-positioned to see organic growth as the…

Bitcoin Exchanges Report Massive Withdrawals as Price Eyes $12K-Retest

The amount of Bitcoin tokens held across all cryptocurrency exchanges dropped dramatically earlier this week. Traders withdrew over 110,000 BTC on August 3 – a day after the BTC/USD rate plunged from $12,000 to as low as $10,500. On-chain analyst Cole Garner theorized the outflow as a sign of whales buying the Sunday sell-off. A $1.23 billion worth of Bitcoin tokens moved out of all the cryptocurrency exchanges a day after BTC/USD fell $1,500. According to data fetched by CryptoQuant, Bitcoin balances on trading platforms fell from roughly 2.50 million…

As Long as Bitcoin Holds $10,500, Expect XRP, Tezos & Altcoins to Outperform

Last week, all eyes were on Bitcoin: the leading cryptocurrency had just cracked past $10,500 for the first time since February and had entered a steep uptrend.  But over the past few days, BTC has stagnated. This lack of volatility has made some focus back on altcoins, hence why coins like Band and Zcash are surging higher. A cryptocurrency trader expects for altcoins to continue to perform well as long as Bitcoin holds above this critical level. Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold BTC, ETH’s DeFi…

Why Analyst Who Predicted Bitcoin’s 2018 Low Isn’t Bullish on Stellar (XLM)

Like many other large-cap altcoins, Stellar Lumens (XLM) has performed well against Bitcoin and the U.S. dollar over recent weeks. Per data from TradingView, the asset is up by 58% against the dollar. And over that same time frame, it is up 24% against Bitcoin. While a positive sign for the cryptocurrency, an analyst in the space isn’t too sure XLM will rally higher. This is the same analyst that predicted in the middle of 2018 that Bitcoin would bottom at $3,200 in that bear market. Related Reading: Crypto Tidbits: Ethereum…

Zcash Just Surged 12% as Bitcoin Stagnates: Here’s Why

One of the best-performing crypto assets of the past 24 hours has been Zcash (ZEC). According to data from Trading View, the cryptocurrency has gained 12% over the past day’s trading session, outperforming Bitcoin’s 4% gains and Ethereum’s 2.5% gains. Analysts expect the altcoin, which was one of the worst performers throughout the 2018 bear market, to soon rally even higher. They cite both technical and fundamental reasons for this optimism. Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold BTC, ETH’s DeFi Space Still in Vogue Zcash Could…

Bitcoin is Becoming an Inflation Hedge, and It’s Driving BTC Higher; Claims Analyst

Bitcoin’s status as a hard asset is growing clearer by the day. It has even resulted in the cryptocurrency forming a striking correlation to gold, silver, and other traditional “safe havens.” One byproduct of this has been a degrading correlation to the stock market, which may ultimately bode incredibly well for the benchmark cryptocurrency – despite the equity market’s current strength. While speaking about these shifting BTC correlations, one analyst explained that this is a highly bullish trend that is likely to provide its price with a boost in the…

Bitcoin Topside Bias Vulnerable Unless It Surges Past 100 SMA

Bitcoin is struggling to gain bullish momentum above $11,300 against the US Dollar. BTC could extend its decline unless it surges past the 100 hourly SMA. Bitcoin is facing a strong resistance near the $11,300 and $11,400 levels. The price is now trading well below the $11,400 level and the 100 hourly simple moving average. There is a short-term declining channel forming with resistance near $11,230 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to remain well bid near the $11,000 and…