3 reasons why Bitcoin doesn’t care about Elon Musk

Bitcoin (BTC) dived 17% when Tesla CEO Elon Musk criticized its energy consumption — but it’s already bouncing back. On May 13, fresh from its dip to $45,60, BTC/USD is trading above $51,000, having regained over half its lost ground.  With the drama still spreading, Cointelegraph considers why, on a fundamental level, Bitcoin is ultimately resilient to the actions of a single user — no matter how influential he or she is. Proof-of-Work doesn’t care Bitcoin’s Proof-of-Work (PoW) algorithm rewards both miners and investors over time because their years of…

2 reasons why Casper (CSPR) IOU token rallied 2,300% in one week

Bull market cycles in the cryptocurrency market can be exhilarating for day traders and long-term investors alike, but the speed at which the prices move can make it a challenge for promising new projects that are looking to catch the momentum before the cycle plays itself out. This reality has led to some projects listed on exchanges in the form of token IOUs so that interested parties can get in on the trading action before the token is officially released. Polkadot (DOT) is one of the most well-known examples of…

Three reasons why EOS price has pumped 100% in three days

The EOS price is in double-digits for the first time since mid-2018 after a parabolic advance that began back in March. According to data from Coingecko, the 20th-ranked crypto by market capitalization is currently sitting above $11.50, delivering close to 100% gains over the last three days. First, the current EOS upward advance is occurring at the intersection of two unique price trends. On the one hand, the EOS/Tether (USDT) trading pair is at the top of the range for 2021 while the token price against Bitcoin (BTC) fell to…

4 Reasons Why Fantom Can $FTM Grew Big in Last Thirty Days

In the last thirty days, the Fantom Foundation has seen one of its most whirlwind months of action since its public release. A new blockchain platform is on the scene, and it’s drawing the eyes of industry leaders across the globe.  Fantom, a blockchain platform ensuring security, scalability and speed, is making waves across the world, with thousands of users flocking to use the platform daily.   The platform prides itself on its high-performance, scalability, and secure smart-contract platform, specially designed to overcome the limitations of previous generation blockchain platforms.  The…

Three reasons why the ‘other Ethereum’ has pumped 130% in the last week

Ethereum Classic (ETC) continues to maintain its parabolic price action advance that began in late March. Data from crypto market aggregator Coingecko shows ETC is up almost 50% in the last 24-hour trading period as of the time of writing. Indeed, the 20th-ranked crypto by market capitalization is currently at an all-time high above $76. Source: TradingView The first likely reason for this current price action advance is that it is a continuation of ETC’s positive performance since the end of Q1 2021. As previously reported by Cointelegraph, major forks…

3 reasons why Bitcoin is on shaky ground after failing to retake $60K

Bitcoin (BTC) is back testing lower levels after failing to conquer $60,000 resistance — and indicators suggest the downturn is not over. BTC/USD bounced off $55,000 overnight on Monday, hours after hitting local highs of nearly $59,000 in bullish early trading. With sellers still in place closer to all-time highs of $64,500, the largest cryptocurrency has a lot of work to do to exit its current broad trading range. BTC moves back to exchanges One metric which may soon be causing problems for bulls is the overall BTC balance on…

5 reasons Bitcoin and Ethereum plummeted 15% in a single day

The price of Bitcoin (BTC) and Ether (ETH) fell by 15% and 20%, respectively, on April 23 as the cryptocurrency market became engulfed in a major correction.  Five factors likely caused the price of Bitcoin and Ethereum to steeply drop in a single day include mass liquidation, an overheated futures market, the decline of Kimchi premium, whales selling, and Biden tax concerns. Overcrowded futures market sees $4B worth of liquidations On April 23, in a 24-hour span, the cryptocurrency market saw over $4 billion worth of positions liquidated. According to…

3 reasons Dogecoin is up 123% this week, hitting 10 cents for the first time

The price of Dogecoin (DOGE) has rallied by more than 123% this week, hitting new all-time highs of $0.13 on strong technical momentum. DOGE/USDT 4-hour price chart (Binance). Source: TradingView.com It has been competing against Chainlink (LINK) for the top-ten spot with both cryptocurrencies hovering at around $17 billion in market capitalization. There are three major reasons why DOGE saw a steep climb over the past seven days. These include Elon Musk’s tweets, the resurgence of altcoins, and the positive sentiment around crypto in general. Altcoin market rallies strongly with…

3 reasons Dogecoin is up 123% this week, hitting $0.10 for the first time

The price of Dogecoin (DOGE) has rallied by more than 123% this week, hitting a new all-time high of $0.13 on strong technical momentum. DOGE/USDT 4-hour price chart (Binance). Source: TradingView.com It has been competing against Chainlink’s LINK for the top-10 spot, with both cryptocurrencies hovering at around $17 billion in market capitalization. There are three major reasons why DOGE saw a steep climb over the past seven days. These include Elon Musk’s tweets, the resurgence of altcoins and the positive sentiment around crypto in general. Altcoin market rallies strongly…

3 reasons why Elrond (EGLD) price soared above $245

As mainstream cryptocurrency adoption increases and more users start transacting on blockchain networks, the need for fast, scalable protocols becomes even more apparent as transaction costs and confirmation times continue to increase.  One protocol that has seen significant gains over the past month as new individuals and organizations continue to flood into blockchain is Elrond (EGLD), “a highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy.” EGLD/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets and TradingView shows that since reaching…