Category: Price Watch
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Crypto traders go into hiding as BitMEX continues losing market share
The crypto market has been subjected to immense volatility throughout 2020, with Bitcoin plummeting to lows of $3,800 in mid-March before incurring an intense rebound that has since led it all the way up to highs of $9,500. It appears that this immense volatility — and especially that seen throughout the past couple of days…
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Hedge fund manager who told you to sell Bitcoin at $10,500 is once again calling the top
[youtube https://www.youtube.com/watch?v=UcHGFMZGjfs&w=560&h=349] Thomas Thorntown, the head of Hedge Fund Telemetry, has made the headlines for his accurate predictions regarding the direction of Bitcoin’s trend. Relaying on the Tom Demark (TD) sequential index, the former portfolio manager forecasted some of the most profitable tops and bottoms that the flagship cryptocurrency has had over the past months.…
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Supply-demand dynamics show Bitcoin may be poised for “exponential” rally
Just six weeks after Bitcoin crashed to $3,700, the cryptocurrency has started to push $8,000 — more than 115 percent higher than the March lows. It’s a reversal that has shocked analysts, to say the least, as many expected BTC (and stocks for that matter) to fall once again as the COVID-19 outbreak has worsened.…
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Data shows that the ongoing crypto rally could be highly sustainable
Bitcoin saw a technically significant uptrend today that allowed it to erase virtually all of the losses resulting from the meltdown it faced in mid-March. Its $1,000 climb today sent shockwaves throughout the crypto market, leading many altcoins to post notable gains. This uptrend comes after what appears to be a month-long bout of extreme…
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Here’s why Bitcoin’s dwindling open interest could be great for bulls
Bitcoin saw a notable overnight upswing that allowed it to climb as highs as $8,400, finding some stability around this price level as bears struggle to defend against the heavy buying pressure that has been driving this movement. An interesting byproduct of this bull-favoring volatility has been diving open interest (OI) – likely resulting from…
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Chainlink continues onboarding new investors as bulls defend critical support level
Chainlink has seen a notable recovery in the time following its latest selloff, with the cryptocurrency’s buyers defending it from dropping below the strong support that has been established around $3.50. It just so happens that this level coincides with a critical technical support level that was briefly tapped during the course of this latest…
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Bitcoin moves back above $8,000 as optimism around the halving explodes
Bitcoin is ticking up once again as the chatter about the upcoming halving skyrockets across social media platforms and news outlets. Social metrics about Bitcoin’s halving explode Bitcoin is back above $8,000 fully erasing all the losses incurred during Black Thursday. The bullish momentum appears to be fuelled by the high expectations that market participants…
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Circulating supply data signals XRP may be undervalued; analysts remain skeptical
It’s no secret that XRP has been one of the worst-performing cryptocurrencies throughout both 2019 and even 2020, incurring a significant 40 percent loss against USD last year while failing to catch the full momentum seen by its peers in the early part of 2020. This price action has been driven by a plethora of…
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Tether just printed another $240m as demand for Bitcoin flourishes
Demand for Bitcoin has been skyrocketing in recent times, with this newfound excitement from investors coming mere weeks before the benchmark cryptocurrency undergoes its highly anticipated mining rewards halving event. The short-term implications of the halving on Bitcoin’s price are debatable, but it is an undoubtedly bullish event from a long-term perspective as it reduces…
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Stellar Lumens aims for higher highs as social engagement metrics explode
Stellar Lumens has managed to decouple from the rest of the cryptocurrency market over the past few hours. The bullish momentum pushed the price of this cryptocurrency up over 15 percent. XLM rose from trading at a low of $0.062 to recently hit a high of $0.071. Meanwhile, Bitcoin has remained stagnant mostly trading within…