Category: Price Watch
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Venture capitalist: 2020’s coronavirus crisis will only prove the value of Bitcoin and crypto
No market or facet of the economy has been spared amid the coronavirus crisis, crypto included. Case in point: since the $10,500 high seen in mid-February, the price of Bitcoin has cratered by 36 percent, posting similar losses to markets like American equities and commodities (namely oil). What’s worrying is that a V-shaped economic recovery…
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Why this cryptocurrency just surged 16% on news of a key Binance partnership
BAT, the native cryptocurrency of the Brave Browser, spiked by more than 16 percent following a Binance trading widget integration. The Brave team said: “Brave Software and Binance, the global blockchain company behind the world’s largest cryptocurrency exchange by trading volume and users, today announced a partnership that enables Brave browser users to seamlessly trade…
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This analyst believes Ethereum has a “cursed chart” and that new lows are coming
Ethereum captivated cryptocurrency investors in early-to-mid February of this year, which is when ETH was able to post a massive rally that sent it surging from yearly lows of roughly $125 to highs of $290, which is where its parabolic journey ended. Its price action in the time following this rejection has been grim, with…
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Top analyst: here’s the simple path forward for Bitcoin to become a major safe haven
Cryptocurrency investors have been greatly disappointed by Bitcoin over the past few weeks, with its lackluster price action seeming to invalidate the safe haven narrative that many investors had previously bought into. BTC’s close correlation to the traditional equities market is, however, showing some signs of breaking, with this potential decoupling coming about after the…
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This relatively small amount of money will pump-and-dump Bitcoin’s price
BitMEX recently suffered an attack that resulted in $1.2 billion in liquidations. Despite the significant amount of money that its users lost, data reveals that the platform is still susceptible to market manipulation. BitMEX’s roll in the crypto derivatives market BitMEX is one the biggest and most liquid Bitcoin and crypto-asset derivatives trading platforms around…
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Bitcoin price spiked 13% in 1 hour, but top traders think it’s a fake rally
The Bitcoin price increased from $5,850 to $6,640 on major cryptocurrency exchanges in a 13 percent rally within an hour. But, top traders are convinced it is a fake out before a bearish continuation. The abrupt spike in the Bitcoin price coincided with the Federal Reserve’s aggressive fiscal policy and its decision to acquire as…
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Why Ethereum locked in DeFi plunged $600m after intense 57% ETH drop
The total amount of Ethereum (ETH) locked in decentralized finance (DeFi) platforms plunged by more than $600 million since February 16. It coincided with a 57 percent drop in the price of ETH from $280 to $120. DeFi platforms like MakerDAO have gained significant popularity in recent months by allowing users to issue loans on the…
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XRP is now nearing 3-year lows: what’s behind the massive correction?
The price of XRP is nearing a three-year low, hovering at around $0.15. Last week, XRP fell to as low as $0.114, which it has not hit since May 2017. The underperformance of the cryptocurrency against both Bitcoin and the USD comes as the appetite for high-risk assets is increasingly on the decline. XRP should…
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The crypto market is hanging on by a thread according to this chart, but all hope isn’t lost
It’s been a rough past few weeks for the crypto market, with the Coronavirus-induced turbulence in the global markets catalyzing an intense and far-reaching selloff that has devastated traditional markets and nascent ones alike. This selloff has led Bitcoin down to a critical support level that bulls have been attempting to defend over the past…