What Crypto Bear Market? Japanese Banking Giant SBI Will Soon Mine Bitcoin

SBI Holdings, a major financial and banking giant in Japan, has formally announced the launch of SBI Mining Chip Co., Ltd., officially entering the bitcoin mining industry. In recent months, the most dominant forces in the global bitcoin mining industry in the likes of Bitmain, Cannan, and Japanese internet conglomerate GMO have struggled to adjust to market conditions. As the bitcoin bear market extended to a 15-month correction, despite the gradual increase in hash power, the demand for bitcoin mining due to the general decline in profitability of mining noticeably…

Bear Market Will Stop Crypto Exchanges Faking Volume, Says Researcher

A report by the Blockchain Transparency Institute (BTI) claims that many exchanges are using bots to fake trading volume. Their research shows that wash trading affects over 80% of the top 25 bitcoin pairings. Furthermore, allegations of this being a deliberate business practice present significant concerns for the industry. Which is already struggling to gain mainstream acceptance. Wash Trading Wash trading is where a trader sells and then immediately buys a financial instrument. This practice manipulates legitimate makers and takers into believing a trading pair is more active than it…

Crypto Market Rebound Facing Hurdles: Bitcoin Cash, EOS, BNB, TRX Price Analysis

The total crypto market cap failed near the $136.0B resistance and declined sharply. EOS price broke the $3.70 support and tested the $3.62 support area. Binance Coin (BNB) is down more than 4% and settled below the $15.00 support level. Bitcoin cash price is correcting lower and it may test the $150 support zone. Tron (TRX) price is stable and still holding the key $0.0220 support level. The crypto market could turned red and facing a lot of hurdles, with bearish moves in bitcoin (BTC) and Ethereum (ETH). Binance coin…

Bitcoin, Gold Strongly Correlated in 3-Week High to Spell Stock Market Disaster

Bitcoin and gold both hit three-week highs on Thursday after a period of highly correlated trading. It comes as the dollar crashes and warning signs flash on the stock market. The correlation strengthens bitcoin’s case as “digital gold” and proves that traders are beginning to treat cryptocurrency like a traditional asset. As the dollar crumbles and whispers of recession grow, bitcoin could spike alongside gold as a hedge against a future bear market in stocks. Bitcoin and Gold Strong Correlation As you can see in the chart below, both bitcoin…

Bitcoin Price Charts Echo Pattern Seen Before 2015 Bull Market

View Bitcoin’s drop from a record high of $20,000 clocked in December 2017 has ended up creating a falling channel similar to the one created in the 18 months leading up to the long-term bullish reversal seen in October 2015. If the same sequence of events unfolds, BTC could see a channel breakout later this year. An early move out of the falling channel cannot be ruled out, but may not yield stronger rally while the crucial 21-week moving average is trending south. The short-term bullish view put forward by…

Bitcoin, Ether, and XRP Weekly Market Update March 21, 2019 – BTCMANAGER

The total crypto market cap increased by $6.7 billion for the seven-day period and now stands at $141.4. At the time of writing bitcoin (BTC) is trading at $4,121 while ether (ETH) stands at $141. XRP’s Ripple is at $0.322. BTC/USD Bitcoin was extremely volatile during the March 14 session and was trading in the $3,860 to $4,000 range before closing at $3,950 on the Bitfinex daily chart. It climbed to $4,000 on the next day, March 15 gaining 1.2 percent of the value and successfully escaped the $3,800 to…

Crypto Market Rally Inevitable: ONT Surges, Bitcoin Cash, XLM, EOS, TRX Analysis

The total crypto market cap is about to break the $136.0B resistance level for the next bullish wave. Bitcoin cash price is back above the $160 level and it may continue to rise towards $165. EOS price is slowly moving higher towards the key $3.80 resistance area. Stellar (XLM) price is currently consolidating above $0.1110 and it could move towards $0.1200. Tron (TRX) could recover and test the $0.0230 resistance level. The crypto market seems to be positioned for an upside break, with solid gains in ONT and XTZ. Bitcoin…

Nvidia Expects to Finish Selling Leftover Inventory From Crypto Bear Market by Q1 2019

Major global chip maker Nvidia expects to complete sales of remaining inventory built up in expectation of crypto mining demand, according to a Bloomberg report on March 19. The company is now working on selling the crypto-oriented inventory that remained unsold as the crypto bear market continues. The firm predicted that it would be able to sell the excess inventory by the end of the current quarter. After Nvidia saw massive market growth amidst increased demand for crypto mining hardware from 2016 to 2018, the firm was hit hard by…

CBOE Trashing Bitcoin Futures Signals Crypto Market Bottom: Brian Kelly

Cryptocurrency investor Brian Kelly believes that the decision to drop bitcoin futures by the Chicago Board Options Exchange (CBOE) represents a watershed in the history of bitcoin, signaling that the crypto market’s longest-ever decline has finally found a bottom. BKCM Founder: CBOE Exit Shows Bitcoin Bear Market is ‘Exhausted’ Speaking on Tuesday’s edition of CNBC Fast Money, the BKCM Digital Asset Fund founder and CEO stated that he sees improvement in bitcoin address growth and market sentiment since December 2018 as evidence that the retail end of the bear market…

Bitcoin Share of Total Crypto Market Falls Below 51% to Its 3 Months Low

Photo: Tim Reckmann / Flickr Data from CoinMarketCap show that Bitcoin dominance fell below the 51% mark early Friday morning. It was gradually declining over the course of the weekend, hitting a low of 50.4% on Saturday afternoon. At the time of writing, the world’s largest cryptocurrency accounts for 50.9 percent of the total capitalization of the entire market and fell as low as 50.54 on March 17, according to data from CoinMarketCap. Before 2017, Bitcoin’s dominance rate was pretty much in excess of 70 percent, but it began to…