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…
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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…
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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…
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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…
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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…
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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…
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Bitcoin is at a critical level. Rising open interest on Bakkt with intraday recovery in BTC price indicates buying at lower levels. The total crypto market capitalization slumped from close to $238 billion on Nov. 18 to a low of about $189 billion on Nov. 22. That is a drop of just over 20% within…
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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…
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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…
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Despite crypto markets reclaiming the capitalization boasted in Nov. 2017 and record volumes, altcoins have seen a declining market share. At present, the combined capitalization of the 2,022 crypto assets with a known market cap was roughly $222 billion. On Nov. 19, 2017, just weeks before the current all-time highs would be set for the…
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