Several major cryptocurrencies have seen strong buying at lower levels, suggesting that the uptrend is likely to resume once Bitcoin finds support. Bitcoin (BTC) rallied above $10,000 on May 7 and just when everyone was getting ready for the long-anticipated halving surge the top-ranked cryptocurrency on CoinMarketCap plunged over 15% to hit a low of…
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Crypto traders explain why this Bitcoin rally may be more than just a correction. Is Bitcoin’s current rally just a bull trap, or is it actually headed for the moon? Trader Alessio Rastani and co-founder of Wintermute Trading, Yoann Turpin, explain why Bitcoin’s upward momentum may be impulsive in nature rather than corrective. Don’t miss…
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NEO founder Da Hongfei told Blockown 2020 attendees that blockchain technology could be the technological remedy required by a weakened post-pandemic world. NEO (NEO) founder Da Hongfei appeared at the Blockdown 2020 virtual conference on April 16, where he spoke about blockchain’s role in the post-pandemic world. The creator of the project dubbed the “Chinese…
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With Bitcoin’s fall below $10,000, the top performers of this week are witnessing profit booking. Bitcoin dropped below the psychologically important level of $10,000 on Feb. 15. This has dragged the crypto markets lower, whose market capitalization has dropped below $300 billion. Though Bitcoin has declined, its market dominance has risen from below 61% on…
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It could be a good time to buy select cryptocurrencies as bulls have defended the critical support levels which shows demand at lower levels. Although sentiment drives prices in the short-term, fundamentals play a major role in determining long-term price action. However, many times, the price follows fundamentals higher with a lag. The crypto markets…
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Only two of the top five performers have closed in the green in the past seven days, which shows that the sentiment is currently negative. Tom Jessop, the president of Fidelity Digital Assets, said that the absence of a long track record is one of the main reasons that is keeping the institutional investors at…
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Bitcoin’s bearish price action has led many traders to set their sights on altcoins and this week a handful of tokens added notable gains. The United States Federal Reserve believes that stablecoins “could complement existing payment systems and improve consumer welfare” but the operators behind the digital assets will require constant oversight and regulation. The…
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Bitcoin’s recent 42% rally may have prepared altcoins for a new upcycle. Last week Bitcoin’s (BTC) price action surprised the majority of the market and traders are now looking closely at altcoins to spot similarities that might signal a new altcoin market cycle. Daily crypto market data. Source: Coin360 As Bitcoin surged, China-based altcoins began…
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The reversal in the price of Bitcoin and other cryptocurrencies in the past week points to a likely bottom formation and a change in sentiment to buy the dips. Though fundamentals play a large part in determining the price of an asset, short-term movements of the markets are driven by sentiment. This was clearly visible…
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