Price Analysis Jan 13: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, TRX

Though several cryptocurrencies are stuck in a range, the trend is gradually turning positive. Bitcoin has seen an uptick in volumes in the new year. A report by cryptocurrency market research firm Arcane Research shows that 7-day average daily trading volume has surged 126% in a week. Along with Bitcoin trading volume, the CME Bitcoin futures contract has also seen increased activity. The Bitcoin futures open interest has skyrocketed to a seven month high, which is only behind the peak seen at the end of June.  A pick up in…

Top-5 Cryptos This Week (Jan 12): BSV, DASH, LINK, BCH, LTC

The up move in the top crypto performers of the past seven days shows that bulls are back in the game. The CME Group will launch its Bitcoin options contract on Jan. 13. The analysts at JPMorgan Chase & Co. have spotted a 69% increase in open interest from year-end in CME’s existing Bitcoin futures contracts.  They also noted that the number of large open-interest holders has picked up. This shows an increase in institutional interest before the launch of options trading. Nevertheless, as Bitcoin price action has been mixed…

Price Analysis Jan 10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, TRX

The bounce off the first support levels on most major cryptocurrencies indicates a possible change in trend. Safe haven assets were dumped on Jan. 8, on reports that the US-Iran conflict might not escalate to an all out war. Cryptocurrencies, which had surged alongside gold and oil with also retreated from two-month high. However, the positive sign is that most major cryptocurrencies have held their immediate support levels, which indicates buying on dips. This shows that the sentiment has changed from sell on rallies to buy on dips. With the…

Price Analysis Jan 8: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, ADA

Profit booking seen at higher levels. However, if the major cryptocurrencies can bounce off their strong support levels, it will indicate strength. The crypto markets continue to respond to the events happening in the United States-Iran conflict. Any sign of escalating tensions is boosting the crypto markets higher. Google Trends shows that the searches for terms “Bitcoin” and “Bitcoin Iran” have surged in the past few days. This shows that investors are considering Bitcoin as a safe haven asset, similar to gold. A report released by analytics firm SFOX showed…

Price Analysis Jan 06: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XMR

Several altcoins have made their first move from longtime lows and if Bitcoin is able to confirm a bottom, a marketwide rally is likely to pick up steam. The price of an asset class is determined by its fundamentals and the sentiment towards it. At times of panic or exuberance, fundamentals take a back seat and sentiment dictates the price action. Currently, the US-Iran tension has sent investors scurrying towards safety. This has seen a move away from stocks and into assets that are considered safe havens. However, it is…

Top-5 Cryptos This Week (Jan 5): BSV, XMR, ETC, BCH, LEO

Few of the top five cryptocurrency performers of the past seven days are showing signs of bottoming out. Can they start a new uptrend? Coinbase CEO Brian Armstrong believes that rising cryptocurrency prices will generate massive wealth for the crypto investors in the 20s. His friends, Olaf Carlson-Wee and Balaji Srinivasan expect Bitcoin’s price to reach $200,000, due to which more than half of the world’s billionaires will be from the crypto space. Armstrong also anticipates that “ a “privacy coin” or blockchain with built-in privacy features” will go mainstream…

Price Analysis Jan 03: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XTZ, XLM

Bitcoin is en-route to flipping the $7.4K resistance to support and the sharp rebound from key support levels on most major cryptocurrencies is a positive sign. Bitcoin started the new year on a weak note and looked to be losing ground. However, the news of the killing of Iran’s General Qasem Soleimani, in an airstrike ordered by the US President Donald Trump, caused a reversal in Bitcoin’s price. This shows that the market participants have again turned to cryptocurrencies in times of uncertainty and escalating geopolitical tensions. In other news,…

Bitcoin & Crypto Market Facing Hurdles: BNB, BCH, LTC, EOS Analysis

The total crypto market cap is declining and struggling near the $178.0B support. Bitcoin price was down around 3%, but it is now recovering above $7,000. Litecoin (LTC) price declined more than 5% and it is now trading below $40.00. BCH price failed to stay above the $200 support and it is extending losses below $195. EOS price is down 5% and it even broke the $2.500 support area. Binance coin (BNB) is likely to revisit the key $13.00 support area. Bitcoin (BTC) and the crypto market cap are gaining…

Bitcoin & Crypto Market Signaling Downsides: BCH, XLM, EOS, TRX Analysis

The total crypto market cap is declining and it is below the $185.0B support. Bitcoin price is struggling to climb above $7,300 and it might decline below $7,000. BCH price is testing the $200 support and it could continue to slide. EOS price failed to stay above $2.600 and it is likely moving towards $2.500. Stellar (XLM) price is now well below $0.0455 and it is showing bearish signs. Tron (TRX) price is likely to break the key $0.0130 support in the near term. Bitcoin (BTC) and the crypto market…

Price Analysis Jan 01: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XTZ, XLM

2020 has started on a subdued note but traders are anticipating an increase in activity that could lead to a strong directional move in the next few days. 2019 was an eventful year for Bitcoin. In the first six months, it rallied about 310%, from a low of $3,355 on Jan. 29 to a high of $13,973.50 on Jun. 26. That stoked expectations that the leading digital currency might retest its lifetime highs at $19,531.90. However, the second half of the year was a disappointment as the price continued to…