Bitcoin is trading nicely in a strong uptrend above $9,300 on the daily chart against the US Dollar. BTC is currently facing a crucial barrier at $10,000, above which it could rally significantly. Bitcoin climbed to a new 2-month high at $10,390 before starting a consolidation phase. The price seems to be losing bullish momentum,…
DetailsOver the past few months, we’ve seen a strong uptick in institutions adopting Bitcoin and crypto-assets. Nothing shows this as well as Grayscale’s Bitcoin Trust, a leading way that institutional investors can use to gain exposure to cryptocurrency. According to NewsBTC’s research, the trust brought in 62,972 BTC over the past 12 weeks. Over that…
DetailsFrom a technical perspective, Ethereum’s price action has been relatively lackluster in recent times, with buyers struggling to garner any sustainable uptrend as the crypto closely tracks Bitcoin’s price action. One data metric does indicate that investors have been heavily accumulating throughout the course of the cryptocurrency’s recent downturn. This accumulation has led investor’s profitability…
DetailsBitcoin has seen some generally lackluster price action throughout the past several days and weeks, struggling to garner any decisive momentum as it hovers within the mid-$9,000 region. This price action has muddied the clarity that many analysts previously had as to just how strong the cryptocurrency’s uptrend truly is, and has shaken the confidence…
DetailsThe stock market has been caught within an intense uptrend over the past couple of days while Bitcoin consolidates within the upper-$9,000 region. The ongoing equities rally has come about due to renewed hopes of the economy seeing a “V-shaped” recovery due to most countries across the globe easing their pandemic-related lockdowns. Recent employment data…
DetailsBitcoin price has been consolidating after its last strong push higher for over forty days now. After many attempts to break up through $10,000, each rejection has caused the price action to closely resemble a distribution schematic designed by financial market expert, Richard D. Wyckoff. If the current price action is indeed distribution, a massive…
DetailsViewed as a sector, decentralized finance (DeFi) has shown a much better performance than the broader crypto market. Data has shown that major DeFi projects such as the Kyber Network, Loopring, Aave, and Republic Protocol have all shown significant returns between 165% and 300% this year, vastly outperforming major players such as Bitcoin and Ethereum.…
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While all eyes are on Bitcoin, as the cryptocurrency community watches and waits for the asset’s next uptrend to begin, another crypto asset has gone parabolic – but not in price. The market cap and total supply of Tether have been skyrocketing more so than Bitcoin price has. Also easily besting Bitcoin, is the amount…
DetailsRipple’s XRP has been consolidating within a narrow trading range for over the past month. The price action of this cryptocurrency is mostly contained between the $0.192 support level and the $0.212 resistance. Throughout this stagnation phase, the Bollinger bands were forced to squeeze based on XRP’s 1-day chart. Squeezes are indicative of periods of…
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The market cap of Tether’s dollar-pegged stablecoin USDT has been steadily increasing this year and could soon reach $10 billion. According to the company’s CTO Paolo Ardoino, Tether has minted $5 billion in the past six months alone. The Market Cap of USDT On Its Way to $10 Billion The third-largest cryptocurrency and the largest…
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