Bitcoin has once again found itself caught within a bout of sideways trading as it struggles to garner any momentum as it hovers around the $8,800 region. This is around the price point at which it has been trading at throughout the past couple of days, and it does appear to be a critical support…
DetailsBitcoin is trading in a bearish zone below $9,000 against the US Dollar. BTC price is likely to accelerate lower if it breaks the $8,680 and $8,600 support levels. Bitcoin is declining and trading well below the key $9,100 pivot level. The price is likely to continue lower towards the $8,400 and $8,200 support levels.…
DetailsControversial crypto stablecoin Tether continues at full speed ahead as recent data shows its daily transactions are the highest they have ever been. A recent Reddit post shows Tether reached 208,107 daily transactions on May 25th, 2020, which equated to $1.2 billion in value. Source: reddit.com What’s more, daily transactions have been in an ascending…
DetailsAccording to the latest report from DevQuarterly, blockchain developers overall earn much less than developers working on mobile apps, websites, and custom software, as well as data scientists. There is also significantly fewer developers working on blockchain technology, indicating that the industry is still in its infancy. Analyzing the Developer Market While the blockchain industry…
DetailsBitcoin‘s hash rate, a measure of the amount of processing power fueling the cryptocurrency’s underlying blockchain protocol, has fallen to a low beyond the levels seen following the Black Thursday market collapse aftermath. Does this mean yet another, more severe selloff is possible in the day and weeks ahead? Bitcoin Hash Rate Falls To Levels…
DetailsbitFlyer, a Tokyo-based crypto exchange, reported a 750 million yen loss for the financial year 2019. The deficit surfaced due to weaker-than-expected sales and return-on-investment, according to the firm’s business report. Bitcoin’s massive drop in the second half of 2019, as well as strict local regulations, further maximized bitFlyer’s losses. Japanese crypto exchange bitFlyer lost…
DetailsAfter trading below $9,000 for over a day, Bitcoin finally pushed past that level just minutes ago. BTC has not seen a massive rally from the weekly lows of $8,600, but $9,000 is a key technical and psychological resistance, analysts say, making the reclamation of the level that much more notable. Bitcoin price chart from…
DetailsEthereum is struggling to break the $205 and $210 resistance levels against the US Dollar. ETH price is currently declining and it remains at a risk of a larger decline below $200. Ethereum is facing a strong resistance near the $204 and $205 levels. The price might continue towards the $192 support if it fails…
DetailsAlthough JP Morgan may not trade Bitcoin or offer crypto-specific services to its clientele, the company does analyze this nascent market once in a while. This much was made clear very recently. One individual this week shared a report from JP Morgan, dated May 22nd, that included a post-halving analysis of the Bitcoin mining scene.…
DetailsBitcoin is under risk of continuing its bearish correction as the S&P 500’s trading range indicates a drop. The U.S. benchmark is trading between its 50-day and 200-day moving averages, a metric that typically leads the market lower. The correlation between Bitcoin and the S&P 500 has grown stronger since their March 2020 sell-off. A…
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