Category: Price Watch

Bitcoin decouples from stock market as Fed Chairman offers grim economic outlook

The traditional markets have seen a notable downturn today that has led them to erase the bulk of the gains they incurred earlier this month. Bitcoin has been able to climb concurrently with this downturn, however, signaling that the benchmark digital asset is decoupling from the stock market. This potential decoupling comes as the Fed…

May 13, 2020
These three metrics suggest Ethereum still has some massive room to rise

Ethereum has seen some incredibly poor price action throughout the past several weeks, with the cryptocurrency’s severe underperformance of Bitcoin leading it to erase virtually all the gains that came about as a result of the latest market-wide upswing. This weakness has led its market structure to become firmly bearish against its BTC trading pair,…

May 13, 2020
21 committee members to control Neo’s governance in version 3

As Neo is anticipating the launch of its newest iteration—Neo3—its founder and CEO Da Hongfei explained what the latest upgrade will bring to the ecosystem. The biggest change to Neo, aside from integrating various tokenization services, will come in the form of a new governance system, where 21 committee members will be voted in by…

May 12, 2020
Economist: Bitcoin passing $20,000 could lead to a wild 150% run in “little time”

When (or if) Bitcoin returns to the $20,000 high it established in December 2017, a “wild run” could follow suit that will bring the cryptocurrency to new heights far above the last all-time high, a top trader has suggested. Bitcoin breaking $20,000 could cause a “wild run” predicated on FOMO In a comment made on…

May 12, 2020
Bitcoin goes through the “most brutal” halving ever recorded; here’s why

One of the most anticipated events of 2020 within the cryptocurrency industry has taken place. Bitcoin underwent its third halving after AntPool successfully found block 630,000. Now, the rate of issuance of the flagship cryptocurrency has dropped by 50 percent. Consequently, miners will be rewarded 6.25 BTC per block for the next four years, which…

May 12, 2020
Paul Tudor Jones isn’t the only billionaire who thinks Bitcoin is like gold in the 1970s

The crypto industry was pleased to learn that legendary macro investor Paul Tudor Jones believes that Bitcoin poses an attractive investment prospect. The comments regarding BTC came within an investment note regarding the current global economic outlook. He even went so far as to note that the cryptocurrency could be similar to gold in the…

May 12, 2020
Will fundamental strength stop Chainlink from breaking key macro growth curve?

Chainlink’s immense bullishness throughout 2019 and 2020 has coincided with the emergence of a prominent growth curve that has been guiding it higher. The reactions LINK posts to tests of this curve have been quite significant in the past, with it acting as a catalyst for some of its largest parabolic swings. It does appear…

May 11, 2020
Sorry bulls: On-chain metrics show Bitcoin is highly bearish ahead of halving

Bitcoin’s halving is finally here. After years of waiting, the long-awaited event has arrived that will see the number of coins issued per block cut in half — hence “halving — from 12.5 to 6.25. Although BTC investors on Twitter and other forums are claiming they’re over the moon about the halving, on-chain data paints…

May 11, 2020
Bitcoin price plunges 19% but key data suggests institutions are buying the dip

Article by Cole Petersen with contributions from Joseph Young The Bitcoin (BTC) price plunged by 19 percent from $10,000 to $8,100 across major exchanges. The sell-off was so intense that Coinbase went down temporarily amid the drop. But, key data shows institutional investors are patiently investing in the cryptocurrency market. Grayscale, which operates the Grayscale…

May 9, 2020
Ethereum gets big boost ahead of ETH 2.0 as DeFi market completes v-shape recovery

Ethereum will soon see a major network upgrade to ETH 2.0, possibly by July 2020. With two months left, the decentralized finance (DeFi) market saw a strong recovery following bitcoin’s crash to $3,600 on March 12. When the cryptocurrency market saw its sharpest pullback in its history less than 60 days ago, the price of…

May 8, 2020