Ethereum has been able to maintain its position above $200 despite facing some intense selling pressure earlier this week. The cryptocurrency is now attempting to generate some upwards momentum as it fast approaches a key resistance level. Traders do anticipate this level to be surmounted in the days ahead, as its technical outlook has been…
DetailsBitcoin saw a 6% negative mining difficulty adjustment this week, which ensures that the cryptocurrency will continue mining blocks every ten minutes. This indicates that the cryptocurrency is rapidly seeing a reduction in the number of miners vying to validate transactions, suggesting that the implications of the recent mining rewards halving event are starting to…
DetailsAnother week, another round of Crypto Tidbits. Bitcoin has seen quite the tumultuous week. After rallying towards $10,000 at the start of the week on the back of post-halving buying, seemingly caused by both retail and institutional players, Bitcoin plunged to $8,800 over the course of two days. Altcoins posted similar losses, with some underperforming the…
DetailsOne key on-chain indicator is now signaling that Bitcoin is seeing intense underlying strength despite its recent turbulent price action. BTC’s NVT is a widely respected indicator that weighs the number of unique tokens being transacted on the Bitcoin network with the cryptocurrency’s price action. Because the network is still being heavily utilized by investors,…
DetailsBitcoin has entered what appears to be yet another consolidation phase within the lower-$9,000 region. The crypto is struggling to garner any momentum as its buyers and sellers both reach an impasse following its recent decline. It now appears that the crypto could be gearing up for a massive movement in the days and week…
DetailsChainlink has been the superstar standout altcoin of the crypto market for the last two years running. And while the 11th ranked crypto asset has outperformed nearly everything else in the space, its momentum may soon come to a screeching halt as an accurate sell signal has triggered on the altcoin’s daily price charts. Remembering…
DetailsBitcoin mining hardware manufacturer Canaan has recorded a net loss of $5.6 million in Q1 2020, despite seeing a huge increase in profits. According to the company’s newly released financial report, its gross profit increased by 417% from Q1 2019, while total net revenues increased by 44%. Unaudited Report Shows Canaan Suffered Huge Losses in…
DetailsThis weekend and on Monday, trading desks across the stock market and other traditional markets will be shut down. But Bitcoin and the rest of the crypto market never stops. With the stock market closed, less to do, and traditional celebrations next to impossible due to lockdown conditions, it could keep more traders at home,…
DetailsThe economic crisis in Latin America, exacerbated by the COVID-19 pandemic, has caused interest in Dai to skyrocket in the past couple of months. According to a report from local news outlet iProUP, the trading volume of MakerDAO’s stablecoins quadrupled during quarantine in Argentina from $5 million to $20 million daily. Latin America Flocks to…
DetailsBitcoin is back in the spotlight after a 50 BTC transaction potentially owned by its creator Satoshi Nakamoto. As speculation mounted about Satoshi dumping his holdings, the flagship cryptocurrency took an 11% nosedive that saw it dip below $9,000. Even though it seems like Bitcoin may have stabilized over the last few hours, one of…
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