El Salvador removes BTC price feed from Chivo app to crack down on arbitrage scalpers

The Salvadoran government has moved to prevent users of its Chivo digital wallet from gaming the app’s price freeze feature to glean risk-free profits through arbitrage. On Oct. 19, Chivo’s Twitter account announced that wallet users will not be able to see the reference price provided for trades executed using the price freeze feature — which allows traders to retain the Bitcoin (BTC) price quoted by the app for up to one minute. Chivo tweeted that opportunistic traders have been using the price freeze feature to scalp for arbitrage across…

El Salvador Disables Bitcoin Price On App To Stop Scalpers

Bitcoin traders have found a way to use the recently launch Chivo App, the countries own BTC wallet, by El Salvador’s government to make a profit. As part of their BTC Law, this app operates with the second layer payment solution lightning network. Related Reading | Bitcoin Price Smashes Record For Highest Weekly Candle Close Ever Via its official Twitter handle Chivo Wallet announced that Salvadorans will be unable to track the price of BTC on the app. According to the report presented by the team behind the app, some users…

Price analysis 10/18: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

Altcoins are selling off ahead of this week’s Bitcoin ETF launch, perhaps a sign that traders are anxious about this historic listing. ProShares Bitcoin Strategy ETF will enter the history books on Oct. 19 when it starts trading on the New York Stock Exchange under the ticker BITO. Market participants are likely to watch the volumes on the ETF closely to gauge the amount of participation from institutional investors. If the response is tepid for a few days, short-term traders may be tempted to book profits, but the bullish momentum may…

Bitcoin Price Smashes Record For Highest Weekly Candle Close Ever

Bitcoin price is back at levels from earlier in the year, but has yet to set a new all-time high. Last night’s weekly candle close still came with a new broken record for price: the highest weekly candle close in the cryptocurrency’s history. Will the bullish weekly close lead to new highs? If so, will this be the culmination of the bull run? And if not, does that mean a bear market instead? A new record has been set | Source: BTCUSD on TradingView.com Bitcoin Price Sets New Record For…

Bitcoin RSI strength suggests BTC price is still far from its cycle top

Bitcoin (BTC) has barely started its run to new all-time highs if its relative strength index (RSI) repeats historical behavior. As noted by popular Twitter analyst TechDev on Oct. 18, RSI has yet to produce macro top signals for BTC/USD. RSI falls far short of classic macro top zone Bitcoin has kept the market guessing as it tracks sideways just below all-time highs without hitting them this month. With time, concerns have mounted that the blow-off top that many expect may not be as high as the bulls hope. Looking…

This Ethereum price chart pattern suggests ETH can reach $6.5K in Q4

Ethereum’s native token Ether (ETH) has rallied by more than 415% this year to over $3,800, and two major bullish patterns developing on its charts highlight the scope for another upside move, ultimately toward the $6,200-$6,500 price range. ETH price eyes $4K resistance breakout The first decisive break above the psychological $4,000-mark, which serves as a resistance trendline to five-month-olds ascending triangle and a cup and handle pattern, could trigger a textbook price rally in the coming sessions.  In detail, the $6,250-level appears as the profit target for the Ascending…

Shiba Inu eyes 'much wow' 90% breakout as SHIB price paints a textbook bull pattern

The Shiba Inu (SHIB) market is in a very strong bull market in 2021, and one major continuation pattern on its longer timeframe charts highlights the scope for an additional 90% upside move ahead. In detail, SHIB rose over 1,250% year-to-date (YTD) to establish the yearly high at $0.00003528 (data from Binance) on Oct. 8. Later, the cryptocurrency cracked under the profit-taking sentiment, leading to a 41.50% price correction to $0.00002060. But bulls started accumulating SHIB near the said low level. A rebound ensued and the price rallied over 55%…

As Bitcoin's Price Spikes Pods of BTC Whales Begin to Shrink in Size – Markets and Prices Bitcoin News

Recent metrics from a variety of analytical web portals show that the quantity of bitcoin whales has been shrinking in recent times. The data indicates that the leading crypto asset has been distributed quite a bit since the price run-up started. Pods of Bitcoin Whales Shrink — Addresses With Small Quantities of Bitcoin Catch the Downward Distribution Cycle Today, data shows that bitcoin whales are shrinking and metrics from bitinfocharts.com’s top 100 richest bitcoin addresses list compared to a whale count article Bitcoin.com News published on May 14, show things…

Next Bitcoin price crash will be 'shallower' than 80%, says Pantera Capital CEO

Bitcoin (BTC) market's tendency to crash by over 80% after logging strong bull runs might come to an end. That is according to a new report published by California-based hedge fund Pantera Capital. In detail, the report notes that the recent periods of BTC price drops have been less severe than in the past. For instance, in 2013-15 and 2017-18, Bitcoin crashed by as much as 83% after topping out near $1,111 and $20,089, respectively. Similarly, the cryptocurrency's bull run in 2019-20 and 2020-2021 led to massive price corrections. Nevertheless,…

Salvadoran President Nayib Bukele Taunts Economist Steve Hanke After Bitcoin's Price Skyrockets – Bitcoin News

On October 15, the day bitcoin’s price surpassed the $60K per unit handle, Salvadoran president Nayib Bukele taunted the professor of applied economics at Johns Hopkins University, Steve Hanke, over his recent statements. At the time, the well known economist warned that El Salvador faces “financial ruin” with “Bukele at the helm,” after El Salvador’s president bought the bitcoin dip when the price was down. 3 Weeks Ago Steve Hanke Said ‘With Bukele at the Helm’ His Country Faces ‘Financial Ruin,’ Bukele Responds After Bitcoin Spikes and Says: ‘You Were…