After a lengthy period of consolidation, many cryptocurrencies appear to be setting up for a large move within the next few days. China could start its pilot for the central bank digital currency (CBDC) before the end of this year, according to local news outlet Caijing. The article states that the anticipated pilot project “will…
Read more
Can the approaching holiday season boost Bitcoin and crypto prices? Let’s analyze the charts of the top performers of the past seven days. The New York Digital Investment Group LLC (NYDIG) has received approval from the United States Securities and Exchange Commission (SEC) to offer its shares to institutional investors, including registered investment advisers, their…
Read more
A rally could be on the cards as Bitcoin continues to lead the market and a few altcoins attempt to form a higher low. In its “Imagine 2030” report, Deutsche Bank strategist Jim Reid forecast that by 2030, digital currencies could replace cash. Reid said that in order for mainstream integration to occur, digital currencies…
Read more
Bitcoin price is leading from the front and is showing signs that a bottom has been reached. On Dec. 2, open interest on Bakkt’s Bitcoin futures reached a new all-time high. This came just a few days after the daily Bitcoin futures trading volume had hit a lifetime high. These back to back trading volume…
Read more
Bitcoin appears to have bottomed at $6,500 and once confirmed many cryptocurrencies could provide lucrative trading opportunities at a good risk-reward ratio. Bitcoin price continues to trade with an advantage to bears but this does not mean investors or miners have capitulated. About 64% of the total Bitcoin mined to date has been dormant in…
Read more
Bitcoin price has rallied 20% since dropping to $6,560, leading traders to closely watch altcoins for similar price action. The futures market provides good insight into the sentiment of larger players. If the futures volume continues to rise in a falling market, this indicates that a decline is likely to extend further. However, if the…
Read more
Was the current pullback an opportunity to go long or will the relief rally reverse direction and catch many aggressive bulls off guard? The theft of 342,000 Ether (ETH) from South Korean cryptocurrency exchange Upbit could have halted the current relief rally taking place in the crypto market. However, Lee Seok-woo, the CEO of Upbit’s…
Read more
The bears have been unable to capitalize on the breakdown of critical support levels and this suggests that the current dip could be a bear trap. The total crypto market capitalization has bounced from the $180 billion mark. We anticipate a strong support in the $168 billion to $183 billion range because the market cap…
Read more
Several top cryptocurrencies have broken below their critical support levels, suggesting that this could be the start of a deeper correction. Fear gripped the markets on the news that Chinese authorities had raided the offices of the leading cryptocurrency exchange Binance. This negated all the positive effects that had accrued following President Xi Jinping’s endorsement…
Read more
Bitcoin price is close to critical support levels, but we anticipate a bounce off the support levels as we take a look at the charts. The Federal Reserve Board Chairman Jerome Powell has said that the Fed is not developing a central bank digital currency (CBDC), but it is conducting its own research to evaluate…
Read more
