Bitcoin is a unique asset unlike anything else in the financial world. Much of its value is derived from its underlying blockchain protocol, powered by miners through a process called proof-of-work. However, the first-ever cryptocurrency’s hash rate is dropping faster than its price, indicating that the miners powering Bitcoin have begun to shut down their…
DetailsBitcoin prices remain vulnerable to more dives even as top analysts print a rosy picture for the cryptocurrency. The bitcoin-to-dollar exchange rate appears trapped inside a technical range, dubbed as Symmetrical Triangle, since March 12. The pair is oscillating between two converging trendlines as it marches towards the Triangle’s apex. The pattern shows a weak…
DetailsAfter a brutal showing last week that saw Bitcoin fall 50% in a 24-hour time span, bulls are mounting a comeback. Over the past four hours, the cryptocurrency has rallied approximately 10% to a price as high as $5,900, surging from the $5,400 base where it spent a majority of Tuesday and Wednesday. The asset’s…
DetailsEthereum seems to be struggling near the key $120 resistance area against the US Dollar. ETH price must climb above the 100 hourly SMA to start a strong increase in the near term. Ethereum is trading in a negative zone below the $120 resistance area against the US Dollar. The bulls are active and they…
DetailsRipple is facing a strong resistance near the $0.1500 region against the US Dollar. However, XRP price remains well supported above $0.1400 and it could soon start an increase towards $0.1700. Ripple price is trading in a key range above the $0.1400 support level against the US dollar. There are a few key hurdles forming…
DetailsBitcoin is struggling to gain momentum above $5,500 resistance against the US Dollar. If BTC price breaks the $5,000 support, it could start a major decline in the near term. Bitcoin is currently trading in a range between $5,000 and $5,500 against the US Dollar. A break below the $5,000 support could set the stage…
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Tether’s USDT money printer is up and running again, and it could be a sign of what’s to come next for Bitcoin and the aggregated cryptocurrency market. It now appears that Tether has issued a whopping $161 million worth of USDT over the past 24-hours, putting the total number of new USDT issued over the…
DetailsWith each passing day, the global government is revealing more and more economic stimulus and bailout budgets to prevent further collapse of the economy and save corporations critical to civilization as we know it. But the more the government overspends, the more bullish the case for Bitcoin – an asset that’s value could climb significantly…
DetailsBitcoin has been on a wild ride over the past several weeks and months, with the benchmark cryptocurrency plummeting from recent highs of $10,500 to lows of $3,500 before garnering significant buying pressure that has since sent it back to its current price within the mid-$5,000 region. This intense volatility has come about in tandem…
DetailsLast week, the cryptocurrency market collapsed alongside the stock market and the rest of the world of finance. After the fallout, cryptocurrency exchanges have been left a ghost town, according to data extracted from order books of top trading platforms. Cryptocurrency Exchange Order Books Empty, Market is a Ghost Town Bitcoin and the rest of…
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