Ethereum’s market cap surpasses GM, CME, and tech stocks — What’s next?

2020 has been an impressive year for the Ethereum network and Ether (ETH) price. In November the Eth2 deposit contract quietly launched and before the end of the month the contract had reached capacity with 524,288 Ether locked.  When Black Thursday occured on March 12, nearly every cryptocurrency had its price crushed and Ether was not spared from the carnage. After trading for as little as $86 on March 12, Ether price recovered to post a year-to-date gain of 322% and the altcoin set a 2020 high at $635.70 on…

TradingView general manager explains how the current crypto bull market is unlike 2017

The cryptocurrency space has undergone a number of bull and bear markets since its inception in 2009. The crypto bull run in 2017 was one of the biggest years for the industry, hosting soaring digital asset prices and growth. Blockchain markets look much different today than they did three years ago, however, based on regulation, adoption, and other factors. How will crypto’s current macro uptrend differ from 2017? Asset dispersion is a key differentiator, according to Pierce Crosby, general manager of asset charting platform TradingView.  “The key here is to be looking…

Market Wrap: Bitcoin Falls to $18.1K as Correlation to Ether Picks Up

The price of bitcoin took a bit of a dip, though overall market sentiment remains bullish. Ether’s correlation to bitcoin is going up despite differences in value propositions. Bitcoin (BTC) trading around $19,077 as of 21:15 UTC (4:15 p.m. ET). Slipping 2.1% over the previous 24 hours. Bitcoin’s 24-hour range: $18,171-$19,920 BTC above its 10-day and 50-day moving average, a bullish trending signal for market technicians. Bitcoin trading on Bitstamp since Nov. 28.Source: TradingView The price of bitcoin was able to hit as high as $19,920, according to CoinDesk 20…

Bitcoin lacks market integrity, says former Trump economic adviser

Gary Cohn, the former president of Goldman Sachs and former chief economic adviser to Donald Trump, believes that Bitcoin may not hold long-term prospects for investors.  In an interview with Bloomberg released today, Cohn said that the crypto asset “lacks some of the basic integrity of a real market” due to its lack of transparency. He said that investors might question a system “that does not have an audit trail.” “For all the reasons it’s a strong developing asset class, it may fail,” said Cohn regarding Bitcoin. “Part of the…

Missed the Bitcoin Rally? Here’s an Investment Strategy to Ride the Bull Market While Reducing Your Risk

Bitcoin has come a long way since bottoming out below $4,000 in March. The cryptocurrency clocked a record high above $19,900 early Tuesday and is up nearly 170% this year. While institutional participation has increased, a large part of the retail crowd may have stayed away from the market. For that group, the fear of missing out (FOMO) on the opportunity to make triple-digit gains may have set in over the past few weeks. Yet, investing now while the cryptocurrency is trading near lifetime highs may seem risky because there…

Bitcoin price hits new all-time high as crypto market matures

Bitcoin (BTC) price has officially reached a new all-time high on Dec. 1 above $19,892 after nearly three years, according to data from Coinbase and Tradingview. BTC/USD weekly chart (Coinbase). Source: Tradingview.com Despite the Thanksgiving crash last week, BTC price has managed to rebound throughout the weekend. BTC then easily passed the $19,000 mark on Monday to reach its all-time high, albeit on a couple of exchanges. There are three key trends that fueled BTC’s rise from sub-$3,600 in March to over $19,892. These include the rise in institutional demand, lower selling…

Market Wrap: Bitcoin All-Time High Tops Out at $19,850 as Ether Options Market Goes Mega-Bullish

Bitcoin’s price hit an all-time record high Monday as positive market factors converged. Meanwhile, ether options traders are paying heavy premiums on the asset’s potential to hit new records as well. Bitcoin (BTC) trading around $19,436 as of 21:00 UTC (4 p.m. ET). Gaining 6.6% over the previous 24 hours. Bitcoin’s 24-hour range: $18,093-$19,850 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Bitstamp since Nov. 27.Source: TradingView Bitcoin’s price hit an all-time high in the past 24 hours, trading as much…

DeFi Project Basis Cash Brings Its Defunct Stablecoin Back into Market

The DeFi project will link the Basis coin to two other crypto assets: Basis Shares and Basis Bonds. These assets shall control the price of BAC at $1 based on the supply and demand. Decentralized finance (DeFi) project Basis Cash has relaunched its earlier defunct stablecoin Basis back in the market. Stablecoin Basis, previously called Basecoin, had secured $133 million in funding just before the crackdown by the US SEC but had to return everything after the regulatory action. On Monday, November 30, the DeFi project has opened up its…

Bitcoin, Ether, and XRP Weekly Market Update November 30, 2020

The total crypto market cap added $13.5 billion to its value for the last seven days and now stands at $552.8 billion. The top 10 currencies showed mixed results for the same time period – Ripple’s (XRP) added 40 percent while Polkadot (DOT) and Litecoin (LTC) lost 5.8 and 4.6 percent respectively. By the time of writing bitcoin (BTC) is trading at $18,354, ether (ETH) moved up to $582. XRP stabilized around $0.624. BTC/USD Bitcoin closed the trading day on Sunday, November 22 at $18,432 or 15 percent higher compared…

Market Update: Bull Trap Warnings After Bitcoin Shoots Above $18k Handle

Digital asset markets have recaptured some of the losses taken three days ago, as a great majority of the crypto economy has started to rebound after the market rout. Bitcoin has climbed above the $18k handle once again and a myriad of crypto assets are up between 1-6% during the last 24 hours. After dropping to a low of $16,300 per coin, bitcoin (BTC) has rebounded 11.3% to where the price stands today at $18,138 per unit. BTC is still up 33% for the last 30 days, 54% for the…