Throughout 2020 thus far, Bitcoin has been showing a tight correlation with major stock indexes like the Dow Jones and the S&P 500. If this continues, and a “fractal of doom” plays out on the Dow Jones, it could spell complete and utter disaster for Bitcoin and the rest of the crypto market as well,…
DetailsBitcoin’s decline to lows of $5,800 overnight was met with significant buying pressure that subsequently allowed the cryptocurrency to climb higher, with BTC bulls now attempting to reclaim the crypto’s previous position within the upper-$6,000 region. This early morning rebound came about after a short bout of intense selling pressure, and buyer’s ability to absorb…
DetailsIn the past 20 minutes, Bitcoin has traded above $6,500, marking a rapid 12% gain from the $5,800 bottom seen on Sunday evening (UTC). Due to this move, the BitMEX funding rate on the Bitcoin (XBT) contract surged by 990%, according to data from Joe McCann, a cryptocurrency trader and AI/cloud specialist at Microsoft. According…
DetailsProminent economist Peter Schiff lately compared the performances of Bitcoin and Gold amidst the deepening financial crisis, noting traders who bought the cryptocurrency at its year-to-date high are sitting at 70 percent losses while those who purchased Gold at its yearly top suffered a comparatively dwarfed loss of 14 percent. XAUUSD up by circa 14…
DetailsCasperLabs, a Switzerland-based development company, constructing a high-performance blockchain network that implements the Correct-by-Construction (“CBC”) Casper Proof-of-Stake blockchain protocol, has announced a collaboration with BitMax.io, a Singapore registered digital asset trading platform, to facilitate an exchange validator offering (“EVO”) through which BitMax.io will provide technology support to give its users exclusive access to participate in…
DetailsEthereum is currently declining and it broke the $130 support area against the US Dollar. ETH price is consolidating losses and upsides are likely to face hurdles near $128 and $130. Ethereum is down around 2% and it tested the $125 support zone against the US Dollar. The price is currently consolidating above $125 and…
DetailsRipple is down close to 5% and it broke the key $0.1680 support zone against the US Dollar. XRP price is currently correcting higher, but it is likely to face hurdles near $0.1700. Ripple price declined below the $0.1720 and $0.680 support levels against the US dollar. A low is formed near $0.1620 and the…
DetailsBitcoin declined sharply below the $6,200 support against the US Dollar. BTC price found support near $5,850 and it is currently recovering towards a couple of key hurdles. Bitcoin is correcting higher from the $5,846 swing low against the US Dollar. The price is showing positive signs above the $6,000 level, but there are many…
DetailsThe leading global cryptocurrency derivatives and spot exchange platform OKEx has announced the addition of Orchid (OXT) token to its list of tradable crypto-assets. The utility token is designed for use on the Ethereum blockchain-based Orchid peer-to-peer open marketplace for buying and selling VPN bandwidth. The deposits and withdrawals of OXT on OKEx will be…
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Following an extended period of rangebound trading within the upper-$6,000 region, Bitcoin now appears to have entered yet another bout of consolidation around its current price of $6,100. Although it remains unclear as to whether or not Bitcoin’s current market structure is bullish or bearish, there are a few fundamental factors that may suggest a…
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