Many cryptocurrencies are showing strength by hovering close to their recent highs even as gold is selling off. The U.S. equity markets are on a tear as the traders cheer the largest jobs gain ever. This report has improved sentiment as it suggests that the blip in the economy due to the pandemic was temporary. …
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Poloniex has launched support for Binance Coin and Binance USD, despite CZ’s recent vocal criticism of Justin Sun over his handling of Steem. Poloniex, a veteran exchange that was recently purchased by a consortium including Tron founder Justin Sun, has launched Binance Coin (BNB) and Binance USD (BUSD) pairings. As of June 6, BNB and…
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Tension between China and the U.S. is increasing and if the current trade deal is scrapped Bitcoin could be a major beneficiary. The tensions between the U.S. and China have escalated once again. This is bad news for the global economy which is currently witnessing one of the worst crises since the Great Recession. If…
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The altcoin market capitalization has steadily risen over the past few days, suggesting that the short-term price action has shifted away from Bitcoin. Although the Bitcoin (BTC) halving generated a lot of interest proceeding the event, it has failed to kickstart a trending move after completion of the event. This suggests in hindsight that the…
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Many altcoins are showing significant strength as they approach their 200-day moving averages, this suggests that the sentiment in the sector remains bullish. Institutional demand for Bitcoin remains high, even as the price turned down after the block reward halving. Some in the space believe that if institutional and retail demand picks up, there will…
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Several major cryptocurrencies have turned down from their resistance levels, hinting that further downside could occur in the short-term. Bitcoin (BTC) has neither run away nor plunged following its halving, which suggests that history might be repeating itself. After the first halving, the top-ranked cryptocurrency on CoinMarketCap moved up only by 7% after a month.…
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A few major cryptocurrencies are in an uptrend and they could offer buying opportunities in the short-term. For some reason, Bitcoin (BTC) analysts never take the middle path. They either project that the price will go to the moon or warn of imminent doom. After surviving and thriving for over a decade and being one…
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Most major cryptocurrencies are struggling to break out of their immediate resistance levels, which could result in a minor pullback for the next few days. Several economies around the globe are lifting lockdown restrictions that have been in place for the past few weeks. This will enable businesses to gradually come back on track and…
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The action in altcoins has become coin specific, meaning, traders should remain with those that are in an uptrend as they are likely to follow Bitcoin if it moves higher. A month after the first halving, Bitcoin (BTC) moved up by 7% but following the second halving, the price slipped by 10% in a month.…
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Several major cryptocurrencies are facing selling at higher levels but the fact that traders are buying on the dips suggests further range-bound action is likely. Jefferies Greed & Fear email written by Christopher Wood recommends both retail and institutional investors buy Bitcoin (BTC) ahead of the upcoming halving which is less than eight days away.…
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