Category: Analysis

Bloomberg gives four reasons why demand for Bitcoin is set to shoot higher

To the credit of Mike McGlone, a senior commodity analyst at Bloomberg Intelligence, he called a Bitcoin breakout towards $13,000 when few expected it. In a report released Aug. 5, the analyst doubled down on the bullish sentiment he has been touting all year. The nine-page report, entitled “Bloomberg Crypto Outlook: Bitcoin Becoming Prudent,” outlined…

August 6, 2020
Fund managers: these 3 catalysts could drive greater adoption of Ethereum DeFi

By most measures, Ethereum’s decentralized finance (DeFi) space is going parabolic. As reported by CryptoSlate previously, data from DeFi Pulse indicated that the amount of ETH locked in decentralized finance protocols has gained nearly 30 percent in the past 30 days. This means that there is now nearly 4 percent of all of the assets…

August 6, 2020
Bitcoin CME futures are trading at a $300+ premium; Here’s what this means

Bitcoin’s recent strength has created a sense of “FOMO” amongst investors. This trend is elucidated while looking towards the growing premium between spot Bitcoin and BTC futures on the CME. Demand for BTC from investors using this platform – which is tailored towards institutions, professional traders, and wealthy retail traders – has driven the futures…

August 5, 2020
There hasn’t been this many Bitcoin investors since 2017; Will BTC’s price follow?

The past year has been a period of immense growth for Bitcoin from a fundamental perspective, with it now being arguably more strong than ever before. Multiple metrics highlight this strength, including BTC’s hash rate hovering around an all-time high, transaction volume trending upwards, and the growing number of new wallet addresses. The growth in the number…

August 5, 2020
Ethereum is one step closer to 2.0 mainnet launch as ETH value proposition grows

Ethereum’s value proposition has been on the rise as the launch of the ETH 2.0 mainnet upgrade looms on the horizon. It appears that investors are taking notice, as ETH has been caught in the throes of an intense uptrend over the past several days and weeks as the cryptocurrency continues setting fresh 2020 highs.…

August 5, 2020
Cardano, Tezos, BNB, and ZCash are the most traded cryptocurrencies on eToro

Innovation seems to have drawn a huge number of investors to altcoins, as the latest July data from investment platform eToro showed that some coins saw a month-on-month increase in trading of over 500 percent. In a press release shared with CryptoSlate, the company said that Cardano’s ADA was the third most popular crypto on…

August 4, 2020
Ethereum’s uptrend may be overheating as investor profitability reaches historic highs

Ethereum’s intense uptrend seen throughout the past few weeks has had far-reaching implications, even creating a tailwind that some believe sparked Bitcoin’s move from $10,000 to highs of $12,000. Despite facing some immense turbulence this past weekend when ETH posted a rejection at $415, the cryptocurrency has since recovered the vast majority of its losses.…

August 4, 2020
Data shows public interest in Bitcoin is low: Here’s what may be driving BTC higher

The crypto community has been buzzing throughout the past couple of weeks as Bitcoin and the aggregated market show signs of life. Following a multi-month bout of sideways trading within the lower-$9,000 region, BTC bulls finally awoke and drove the crypto past $10,000. From here, it rapidly soared to highs of $12,000 before its ascent…

August 3, 2020
Cardano (ADA) price forms strong base at $0.13, but transaction volume concerns investors

Cardano (ADA) – like all other digital assets – saw a notable decline yesterday that came about in tandem with Bitcoin’s plunge from highs of $12,000 to lows of under $11,000. ADA has been able to find strong support at $0.13, however, and bulls have defended this level on multiple occasions throughout the past day.…

August 2, 2020
Crypto Twitter is trying to figure out why Ethereum is up 50% in 10 days

As most readers are likely aware, Ethereum and Bitcoin faced a flash crash on the evening of Aug. 1. In the span of just about five minutes, BTC plunged $1,650 from $12,200 while Ethereum crashed by approximately $90 from its two-year highs at $415. It was a move that liquidated dozens of millions, even hundreds…

August 2, 2020