Bitcoin Retraces 45% of Recent Price Gains as Bulls Lose Momentum

View Bitcoin continues to lose altitude and risks falling to crucial support near $7,555. A UTC close below that level would invalidate an inverse head-and-shoulders breakout confirmed on Jan. 6. However, the pullback was based on low volumes and could be reversed. A move above $8,000 would imply an end of the price pullback and open the doors for a re-test of the recent high of $8,463. Bitcoin is flashing red for the third straight day, with a major portion of the recent price gains now erased. After a drop…

Bitcoin Price Breaches $7,400 Mark as Most Top-20 Coins See Gains

Sunday, Dec. 22 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as Bitcoin (BTC) is breached the $7,400 mark again. Tezos (XTZ) is the only cryptocurrency among the top-20 that is seeing losses. Market visualization courtesy of Coin360 Bitcoin price is currently up by 3.36% on the day, trading at around $7,422 at press time, according to Coin360. Looking at its weekly chart, the coin is up by about 4.1%. Bitcoin 7-day price chart. Source: Coin360 As Cointelegraph reported earlier today,…

At 8,990,000% Gains, Bitcoin Dwarfs All Other Investments This Decade

Bitcoin (BTC) has beaten gold in terms of returns by such a large amount this decade that investors have firmly dismissed recent price declines. Data from monitoring resource Blockchain shows that since 2010, Bitcoin has delivered profits of almost 9 million percent. Bitcoin profitable 89% of its lifetime Put differently, $1 invested in BTC ten years ago was worth around $90,000 as of Dec. 18. By comparison, $1 of gold is now worth $1.34. Bitcoin average market price 2009-2019. Source: Blockchain Visibly buoyed by Bitcoin’s performance, Barry Silbert, CEO of…

Bitcoin (BTC) Hesitates But Further Gains Seem Likely

Bitcoin price is consolidating gains above the key $7,000 support area against the US Dollar. The price could dip towards the $6,960 support before it starts a fresh increase. There is a short term contracting triangle forming with resistance near $7,135 on the hourly chart of the BTC/USD pair (data feed from Kraken). The bulls need to gain pace above $7,135 and $7,240 to start another increase towards $7,500. Bitcoin price is trading in a bullish zone above $7,000 and $6,960 against the US Dollar. BTC is hesitant, but it…

Blockchain Supply Chain Platform Gains Metals Giant Glencore as Member

British-Swiss commodity trading and mining company Glencore will use an IBM-developed blockchain solution to track cobalt.  In a press release issued on Dec. 12, Glencore confirmed it had joined the Responsible Sourcing Blockchain Network (RSBN), a joint partnership between various major corporations leveraging the technology to improve supply chain transparency.  Glencore: blockchain aids good practice RSBN is the brainchild of global sourcing audit and advisory RCS Global Group. It uses the IBM Blockchain platform and is powered by Hyperledger Fabric.  “RSBN plays a key role in advancing the sustainable partnership…

Crypto Gains New EU Stronghold as Sweden Approves Swiss ETP Startup

Swiss cryptocurrency financial firm Amun AG has gained permission to offer its products to retail clients in the European Union. In a press release issued on Dec. 10, Amun confirmed it had received approval for a base prospectus it filed with Sweden’s finance regulator, the Swedish Financial Supervisory Authority (SFSA). Amun praises supportive Swedish regulations Following regulatory approval, the firm can now market its various exchange-traded products (ETPs) to retail clients throughout the EU. “We recognise that the regulatory framework in Sweden has been supportive of such initiatives and we…

Ripple (XRP) Price Starts Fresh Decrease: BTC & ETH Trimming Gains

Ripple price is currently declining from the key $0.2320 resistance area against the US dollar. The price is now trading below $0.2260 and it is showing a few bearish signs. Yesterday’s major bullish trend line was breached with support near $0.2280 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is also struggling and it is declining towards the $144 support area. Ripple price is under a minor bearish pressure against the US Dollar, similar to bitcoin. XRP price remains at a risk of a drop…

Art Market Returns Rivaled Bond Investment Gains for over 30 Years

There are several investment opportunities popular all over the world and as time goes on, trends seem to always change. For many years, the stock market has been the most popular and also one of the most lucrative especially in the U.S. as records show that the S&P 500 has gained more than 180% in the last ten years. However, another investment channel that doesn’t seem to be talked about much but pulls in mouth-watering rewards, is the art market. A recent Citi report which was put together using information…

Gov’t Seeks to Tax Crypto Transactions as Capital Gains

The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the first half of 2020. In parallel, the Korean National Assembly is in the process of advancing a related bill aimed at increasing transparency in cryptocurrency trading. If passed, the new regulations would come into effect one year after the Assembly’s plenary session. While the government’s capital gains…

Ripple (XRP) Price Poised For Further Gains, Bitcoin Rising

Ripple price is gaining momentum and it is rising above $0.2250 against the US dollar. The price is likely to continue higher above the $0.2320 and $0.2350 resistance levels. There is a key bullish trend line forming with support near $0.2265 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is approaching the $152 resistance, above which it could rally. Ripple price is showing a lot of positive signs against the US Dollar, similar to bitcoin. XRP price remains well supported and it could rally above…