Category: Analysis
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$75 million liquidated: Bitcoin’s power move leaves trail of destruction for bears
Bitcoin saw an explosive upside movement earlier today that caught the cryptocurrency’s bears off-guard, leading to over $75 million in positions to be liquidated. Open interest (OI) on popular crypto trading platform BitMEX has also plunged in the time following this movement, with the freshly liquidated positions apparently leading many traders to move to the…
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Even after 50% crash, Bitcoin is primed to see explosive growth: 5 reasons why
Bitcoin’s performance over the past few weeks since the mid-March bottom has undoubtedly been impressive. The cryptocurrency, after all, is up nearly 100 percent from the $3,700 lows, a performance that only companies that got supported by the U.S. government, like Boeing, have been able to match. Even still, the rally isn’t done yet. 8…
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Ethereum active addresses rocket as crucial moment fast approaches
Ethereum has seen a notable price spike today that has come in tandem with a recovery seen across the aggregated cryptocurrency market. This movement has allowed ETH to recapture its position above $180 as Bitcoin navigates into the $7,000 region. One interesting fundamental development that has coincided with Ethereum’s recent price rise is that its…
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Bitcoin whale growth is macro bullish, but will it be enough to stop another massive selloff?
Data suggests that large buyers – sometimes referred to as “smart money” – have been in full Bitcoin accumulation mode over the past couple of months, with the number of proverbial “whales” hitting multi-year highs just in the past week. From a macro perspective, this data metric is offering significant hope to investors, as it…
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These privacy coins are on the move and could soon lead the crypto market
Zcash and Dash appear to be leading the cryptocurrency market. Despite the recent bullish impulse they went through, a steep correction may be underway. High correlation and its predictive powers Over the past month, Bitcoin, Zcash, and Dash have experienced a high correlation regime. Whenever one of these cryptocurrencies moves upwards or downwards the other…
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Could DAI be the Biggest Threat to DeFi? This Analyst Thinks So
Decentralized finance (DeFi) has been one of the most used buzz-words in the crypto industry last year. The rise of applications built on the Ethereum network was followed by an equally high rise of the expectations people had from the newly created industry—a decentralized answer to the problems with the current financial system. Adam Cochran:…
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This AI-focused cryptocurrency is up 300%, but on-chain fundamentals spell trouble
While the global financial markets were melting down as coronavirus spread throughout the planet, there was one cryptocurrency that managed to weather the storm. Numeraire, an altcoin brought to life to incentivize scientists to predict financial models using encrypted data, was able to enter a parabolic advance that has seen its price skyrocket over 3x…
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Stablecoin boom doesn’t guarantee Bitcoin price will explode higher: economists
With Bitcoin seemingly finding a local top, all eyes in the crypto space have migrated to stablecoins, digital assets tied to and backed by a “stable” reserve asset. Although present in the cryptocurrency industry for 2017 and 2018, the assets have become increasingly important to the market over the past few months, as they’ve grown…
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Here’s why Bitcoin’s open interest is rocketing despite lackluster price action
Bitcoin has once again found itself caught in the throes of another period of consolidation as the benchmark crypto trades just a hair above its key near-term support at $6,800. This sideways trading has come about shortly after BTC posted a notable breakdown below the support that had been established within the lower-$7,000 region, leading…
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Here’s why simulations of Bitcoin’s post-halving price may disappoint investors
Bitcoin’s upcoming mining rewards halving has been looked upon as a potentially bullish catalyst for the cryptocurrency for years, with many investors predicting that the impact it has on its miner dynamics will help boost BTC’s price. It is important to note, however, that there are some problems with this notion, and a recent report…