“Massive” Wave Of OTC Buying Could Be Behind Bitcoin Bull Impulse

Yesterday, Bitcoin experienced a major breakout through $12,000 and in a flash was trading above $13,000. Buying on exchanges is picking up, which is, in turn, driving up prices. However, a “massive” wave of OTC buying suddenly could also be contributing to the bullish impulse. Here’s how. Bulls Push BTC To New 2020 High, Is The Post-Halving Bull Run Here? The first-ever cryptocurrency is trading just below $13,000 after a strong bullish impulse and $1,000 candle took the cryptocurrency charging higher. News that PayPal would introduce cryptocurrencies to its customers…

Bitcoin now has a 7% chance of beating $20K highs in the next 2 months

Bitcoin (BTC) has a 7% probability of beating its $20,000 all-time highs by the end of this year, data shows. According to data from on-chain analytics resource Skew, as of Oct. 22, Bitcoin options were moving in favor of higher prices continuing in 2020. BTC odds “repricing quickly” At press time, the likelihood of BTC/USD being $20,000 or higher by Dec. 31, 2020 was 7%, with 11% for $18,000. By March 2021, more bets said that Bitcoin would have reclaimed $20,000 (14%), while the figure for June 2021 was 18%.…

Exchange Inflows from Bitcoin Whales Spike as Analysts Expect Selloff

Bitcoin has been expressing tremendous strength throughout the past few days, with its price seeing an unrelenting uptrend that has allowed it to surmount multiple strong resistance levels and flip them into support. Its momentum stalled slightly yesterday afternoon following its rejection at $13,200, but this appeared to be only a slight speedbump, as BTC may soon retest this level as bulls move to reclaim $13,000. This rally’s strength has been impressive, but the benchmark cryptocurrency may soon face a slight selloff that comes about due to spot selling pressure…

Chainlink brings Verifiable Randomness to Ethereum mainnet, keeps other chains in sight

Chainlink’s verifiable randomness function, or VRF, has made its way to the Ethereum (ETH) main net. VRF will provide a decentralized source of randomness for the project’s decentralized ecosystem.  A trusted source of randomness is essential for many applications, such as those in the gambling and gaming industries. Chainlink’s co-founder Sergey Nazarov told Cointelegraph that many blockchains  beyond Ethereum, such as the gaming-focused Matic Network, are interested in deploying the project’s VRF: “I know that we have anywhere between 10 and 20 users announced as already using it from the time it…

StormX Unveils New $1,000 Rewards Program

The popular crypto cashback platform, StormX is now offering users up to $1,000 in rewards for each new person they invite to the platform in its newly introduced referral program. StormX users now have more ways to earn on the platform, while helping StormX meet its ambitious plans to continue growing its userbase exponentially in the coming months. From Cashback to Rewards StormX has been at the forefront of driving mass crypto adoption by enabling people to easily earn cryptocurrencies like Bitcoin (BTC) and StormX (STMX) while shopping online or…

Bitcoin’s brief trip to $13.2K suggests profit-taking price correction

The price of Bitcoin (BTC) surpassed $13,000 for the first time since June 2019. The optimism around PayPal supporting crypto purchases led the overall market sentiment to brighten within a short period. Immediately after the PayPal news was reported, the price of Bitcoin increased from $12,300 to $13,200 at the day’s peak. Although the medium-term outlook of the cryptocurrency market remains positive, analysts are not dismissing the likelihood of a pullback. Bitcoin surged 25.5% within a 13-day span from Oct. 8. Initially, the BTC rally began as profits from altcoins…

Bitcoin Deviates Further Away from Dow, S&P 500 as Price Hits $13K

Bitcoin has wholly sidelined its widely-covered correlation with the US stock market. On Thursday, the benchmark cryptocurrency sustained its weekly gains as its price surged by more than 1 percent. The move briefly pushed the price above $13,000 before a modest pullback turned it back below the level. But overall, the bias appeared extremely bullish for Bitcoin. Bitcoin retests $13,000-resistance in the latest sign of extended upside momentum. Source: BTCUSD on TradingView.com Bitcoin retests $13,000-resistance in the latest sign of extended upside momentum. Source: BTCUSD on TradingView.com That is because…

Ethereum Gains 6% Intraday, Sets Sights For 2020 Higher High

Bitcoin shocked the finance world yesterday rocketing more than $1,000 to over $13,000 per BTC at the high. Today, Ethereum is following suit, with 6% already on the books and a chance to soar much higher is here. Here’s what to watch for in ETH and the signs to watch for if the altcoin will catch up to Bitcoin’s massive rally. Ethereum Blasts $25 Intraday For More Than 5% Pump The second-ranked cryptocurrency isn’t letting Bitcoin soak up all the limelight, and has followed the top cryptocurrency’s showstopping pump yesterday…

The Pandemic Situation Has Benefited the Crypto Industry

Despite the “Black Thursday” crash in March this year, Binance CEO Changpeng Zhao (CZ) said the panic situation has been good for crypto, especially in terms of segment growth. The comment came during an interview with Fortune hosts Jeff Roberts and Jen Wieczner. During the interview, CZ shared his opinion on several issues, including central bank digital currencies, the BitMEX saga, and regulation. But most intriguing of all was CZ’s thoughts on how the panic situation has benefited the crypto industry. Balancing the Ledger is back! For our return, Binance…

Bitcoin top signal from 2017 reappears, but here’s why it may not matter this time

 In 2017, the price of Bitcoin (BTC) reached as high as $20,000 and crashed rapidly. Now the same on-chain top signal has reemerged, according to researchers at Glassnode. But besides much stronger fundamentals this time around, the ongoing rally feels significantly different for other reasons too. Bitcoin typically pulls back when whales take profit, causing a ripple effect throughout the cryptocurrency market. As such, when the overwhelming majority of the market is in profit, the chances of correction rises. The percentage of Bitcoin UTXOs in profit. Source: Glassnode 98% of…