Although the past few weeks have been marked by crypto assets jumping 5% then crashing 5% again and again, Bitcoin and the rest of the cryptocurrency market is actually consolidating.
The chart below shared by a crypto trader proves this point: it shows that Bitcoin has been trading tightly between the key 50-day and 200-day simple moving averages for the past two weeks.
In a further sign of the times, according to data shared by Skew.com, the implied volatility of the Bitcoin price — derived from the trading of BTC derivatives — has collapsed by approximately 50% in the past 30 days from 142% to 76%. Not to mention, the Bollinger Bands, a technical indicator that effectively measures an asset’s volatility, is nearing multi-month lows.
These three factors in tandem suggest that the crypto market is about to undergo an explosive move, but in which way?
Bulls are Winning the Crypto Tug-of-War
As it stands, bulls are winning the crypto battle, most analysts have said.
Per previous reports from Bitcoinist, there’s a confluence of technical, on-chain, and fundamental reasons why Bitcoin could soon head higher, which would wrest the rest of the industry higher with it.
On the fundamental side of things, the U.S. Senate just approved a supplemental stimulus package of $484 billion, adding to the $2 trillion stimuli it had already approved in March. Although its a package that is needed to save the economy, the stimulus, analysts say, proves the fundamental value of a scarce and decentralized currency, like BTC.
In terms of on-chain factors, Bitcoin’s hash rate has continued to rocket higher and higher ahead of the halving, while crypto assets have been found to have seen more use as of late in correlation with the market recovery.
Watch Out… It Isn’t Cut and Dried
Although bulls are seemingly more vocal than bears, it isn’t that there aren’t any bearish catalysts that could quickly send crypto assets falling.
A hedge fund manager named Mark Dow — the same investor who shorted the $20,000 top in December 2017 and covered 12 months later in December 2018 at the $3,200 bottom — recently shared that he thinks the cryptocurrency is on the “edge of a cliff,” adding:
“I’ve been saying…that Bitcoin on the chart is facing massive overhead resistance. Based on this chart, this rn is a textbook opportunity to short,” he said while pointing to the below image.
It’s a bearish assertion that has been echoed by other traders, like one who recently remarked that Bitcoin is in the midst of playing out a textbook rising wedge pattern, which is classically bearish for the asset being analyzed.
Photo by Aron Van de Pol on Unsplash origin »
With AI meme coins dominating like never before—Fartcoin recently smashed a $1 billion market cap—something unprecedented is happening in the bowels of the movement.
A project that lets degens The post Crypto's Craziest Social Experiment Raises $12.
The crypto industry has a well-deserved reputation for changing in the blink of an eye. This month, in the space of just a couple of weeks, we’ve witnessed the centralized crypto empire unravel before our very eyes.
It’s Monday morning and prices are in the green, by strong margins. Virtual currencies are always unpredictable, but crypto volatility – which had been declining – has shot up over the past two weeks.
Brutal best defines the past 36 hours for the crypto market, with almost all cryptos seeing double-digit losses and sinking to yearly lows. The weekend crash saw Bitcoin sink to $3,500, almost half of what it was trading for just two weeks ago.
NEO/USD Long-term Trend – Bearish Distribution territories: $15, $35, $55 Accumulation territories: $5, $3, $1 NEO has been under an intense selling pressure as it has been traded against the US dollar market valuation in the last weeks until now.
The Crypto community can be forgiven for concluding that Bitcoin (BTC) is in trouble given the past few weeks of losses in the markets. But taking two steps back and checking the action next door at the traditional stock markets, we see that the top tech stocks are also not looking too good.
New test results suggest Dash (DASH) is a near-infinitely scalable cryptocurrency network. The head of Dash Core believes it could soon rival centralized payment providers, including PayPal. A stress test two weeks ago found the Dash protocol could process 3 million transactions within a 24-hour period.
The last two weeks since the 14th of November seemed like a never ending fall into the abyss for many crypto traders and hodlers. Bitcoin (BTC) fell from levels above $6,300 to current levels of $4,347 in the same time period and took with it the entire market on the way down.
XTZ/USD Long-term Trend: Bearish Resistance levels: $1. 350, $1. 400, $1. 450 Support levels: $1. 200, $1. 150, $1. 100 The XTZ/USD pair is currently in a bearish trend. In the first two weeks of November, the crypto's price has been in a sideways trend.
ETC/USD Long-term Trend: Bearish. Resistance levels: $14, $18, $22 Support levels: $8, $6, $4. The ETC/USD pair had been bearish in the last three weeks of November 2018. On November 14, the crypto's price was resisted by the 12-day EMA and the crypto was in a downward trend. The 12-day EMA and the 26-day EMA […]
EOS/USD Long-term Trend: Bearish Resistance levels: $ 6, $7, $8. Support levels: $3, $2, $1. The price of EOS was in a bearish trend in the last three weeks of November 2018. On November 1, price of EOS had an opening balance of $5.
As crypto assets have suffered in recent weeks, with the aggregate cryptocurrency market rapidly losing 35% to establish a new year-to-date low, some have capitulated, calling it quits on Twitter.
The digital asset management firm Grayscale Investments has registered more than $400 million dollars losses in asset value in the last weeks. This is related to the bear market that virtual currencies are experiencing and the hard drop experienced by Bitcoin and other cryptos on November 14 and 19. In a recent tweet uploaded by […]
Bitcoin has experienced perhaps one of the worst few weeks in a long time, with its price declining over 30 percent from its steady $6,000 to a low of nearly $4,000. Some believe that hash power had to do with the decline, especially because it was delegated to the BCH chain. The chain has seen […]
These past few weeks have been quite unpleasant for bitcoin investors, especially because the cryptocurrency dipped to a low of $4,200. The good news is that prices seem to be recovering slightly. However, there are many who are still feeling the impact.
CoinSpeaker
Susquehanna Exec: BTC Price is Not a Measure of It’s Success
After weeks of stability, in the past week alone, Bitcoin (BTC) has collapsed under $4,500 in a surprising bout of selling pressure.
The huge drops we experienced in the last 2 weeks shed away more than $70 billion and Bitcoin plunged below the $5k, sinking to the record low for the year. These lightning bolts that hit the market last week and still hitting it this week stirred a wave of speculation within the crypto community about […]
The post 3 possible causes for the bitcoin dumpster fire appeared first on CaptainAltcoin.
The continuing price slump raises many new questions as to whether Bitcoin will remain the world’s leading cryptocurrency in the long term. XRP recently surpassed Ethereum by a wide margin, following a rapid rise in prices in recent weeks.
The last 24 hours have been the worst the cryptocurrency markets have seen since the 24 hours prior. Things have been looking grim for weeks in fact, but on Nov. 19 the situation went from bad to critical as BTC fell below $4,500, dragging the rest of the market down with it.
The huge drops we experienced in the last 2 weeks shed away more than $30 billion and Bitcoin plunged below the $5k, sinking to the record low for the year. These two lightning bolts that hit the market last week and today (losses of more than $10 billion of value in less than 24hrs) stirred […]
The post Crypto market plummets right before Bakkt and ETFs? Is it just a coincidence? appeared first on CaptainAltcoin.
The crypto world has seen lots of online exchanges between two rival Bitcoin Cash camps over the last few weeks. However, the real concern is just how much this battle will impact Bitcoin, now that the planned system upgrades or forks have gone live.
Lately, the Financial Conduct Authority (FCA) has built a reputation for identifying and informing the public of fraudulent cryptocurrency projects. The latest scam to be identified is a firm called GMT Crypto.
To the chagrin of Craig Wright and his camp, it has become increasingly apparent that Jihan Wu, Roger Ver, and their compatriots at Bitcoin ABC have taken a leading position in the Bitcoin Cash “Civil War.
Twitter has been a hotbed for fraudulent activity in the last few weeks. Scammers have been getting into verified accounts, posting as some kind of giveaway for Bitcoin. Those hackers seem to be careful to not get caught, leaving different Bitcoin awards available with each one. Google and Target were some of the most recent […]
After weeks of relative calm, the predicted massive Bitcoin price movement finally happened. Unfortunately, it did not move in the upward trend that everyone was hoping for. Instead, the price of the world’s largest crypto suffered a massive decline, with its price decreasing by almost $800 in just 11 hours.
Crypto markets collapsed as the Bitcoin Cash hard fork panicked investors today. After weeks of speculation regarding the split, which is led by rival billionaires, the market finally decided that the uncertainty over Bitcoin SV and Bitcoin ABC had reached breaking point.
- ENCRYBIT THE RESEARCH BASED CRYPTOCURRENCY EXCHANGE
Encrybit made history moments creating massive surveys in cryptocurrency market with 12k+ responses from traders among 167 countries. Encrybit exchange is thought of traders where we are merging their demands in reality developing the secured and featured enriched trading platform that does not want to compromise the emotions of traders.
Bitcoin giveaway scammers claim another victim After we saw several verified Twitter accounts fall victim to the infamous cryptocurrency giveaway scammers a couple of weeks ago, another account suffered the same faith today.
Various Factors That Could Push BTC Prices Above $8,500 The BTC price predictions for the end of 2018 have been quite erratic. With about seven weeks left to the end of the year, some analysts believe there could be a major rebound in price.
For some time, Binance has sat at the top as the largest crypto trading and exchange platform in the world due to its huge trading volume. However, the last few weeks haven’t been exactly nice for Changpeng Zhao’s company.
The Securities and Exchange Commission (SEC) has been primarily focusing on finding ways to regulate and govern projects that involve initial coin offerings (ICOs) as their way of crowdfunding. In recent weeks, sources say that the SEC has been turning their attention to crypto trading platforms.
Popular cryptocurrency exchange Binance announced today that it has launched a new division dedicated specifically to industry analysis. In a November 8, 2018, announcement, Binance described some of the responsibilities of this new division, which has been dubbed Binance Research.
The cryptocurrency market has been relatively stable in recent weeks. During the first three days of this week, however, the market finally ended its tranquil days as it continuously edged up higher eventually gaining $14.
Latest Ripple News Weeks after gracing SWIFT’s Sibos conference, rumor began doing rounds that the new SWIFT software upgrade will see the integration of RippleNet and other Ripple based software solutions.
Bitcoin (BTC) Volatility Continues Lower After weeks stuck in a range, Bitcoin (BTC) saw a semblance of a breakout on Tuesday, as the prominent crypto asset broke convincingly over $6,500 in a move backed by hefty levels of volume — a seldom seen sight in 2018’s bear market — and positive investor sentiment.
Blockchain will be airdropping approximately $125 million worth of Stellar lumens to its users, in conjunction with the Stellar Development Foundation. This marks the largest airdrop in cryptocurrency history.
FOMO Moments Markets still climbing today; XRP leading the way, Polymath getting pounded. Crypto markets are still moving upwards this Tuesday and momentum is positive. A number of altcoins are making strong gains today which has pushed total crypto market capitalization closer to $215 billion, its highest level for a couple of weeks.
Asset Tokens are facing their first test on the Stellar blockchain. Smartlands (SLT), a decentralized platform for equity and security tokens, has begun voting to determine which offerings will be first to launch.
Over the past few weeks, there have been rumors about a Canadian crypto exchange that’s been deliberating on plans to launch an exchange system with XRP as the base currency. We can now inform that the plan has been realized.
At press time, the father of crypto has shot back up to $6,300 after falling to its lowest point in weeks. Recently, bitcoin was traversing the $6,200 range after sitting at $6,400 for some time.
LTC/USD Medium-term Trend: Ranging Resistance Levels: $66, $68, $70 Support Levels: $48, $46, $44 Yesterday, October 31, the price of Litecoin was in a sideways trend. The digital currency had been on a bearish trend in the last three weeks.
FOMO Moments Markets are still flat on the day; Dentacoin is surging, Ravencoin is flailing. Crypto markets seem to move every couple of weeks now instead of on a daily basis indicating that some of that massive volatility could be coming to an end.
Bizkey, a point-of-sale platform, has announced that it is running a series of “Token Days” in Singapore. The platform has partnered with several retailers and merchants in the vicinity of Singapore’s Chinatown, and it will help those businesses accept cryptocurrency as payment over the next three weeks.
After experiencing successive corrections in recent months, it looks like the crypto market has finally bottomed out and Bitcoin, the largest crypto by market cap, has been relatively stable in recent weeks trading in the $6,200 – $6,500 range.
The stablecoin Tether has been the subject of controversy, speculation, and what some are calling “weaponized FUD” in recent weeks. Some have speculated the company’s lack of transparency surrounding its dollar-backed crypto offering could mean insolvency.
At press time, bitcoin is still trading in the $6,400 range. Nothing’s changing for everybody’s favorite form of crypto; it’s been trapped in this range for roughly two weeks, and it’s likely to stay here for a while.
Malta’s relevance as a “blockchain island” is set to increase in the coming weeks, as the small geography plays host to some of the world’s premier speakers, evangelists, and ministers as part of the Malta Blockchain Summit 2018.
Although Bitcoin (BTC) managed to recover most of its losses over the weekend after tumbling as low as $78,258 on February 28, the premier cryptocurrency has created a massive new Chicago Mercantile Exchange (CME) gap, raising concerns that the digital asset may witness another pullback to the low $80,000 level. Bitcoin Not Out Of The […]
Ethereum (ETH) hit a new yearly low of $2,076 earlier today, further weakening sentiment around the second-largest cryptocurrency by market cap. If Ethereum falls below $2,000, it could trigger additional losses for investors.
The crypto market trended lower last week as US tariffs rocked the market, causing investors to flee to safe-haven assets like Gold. Crypto prices which recovered slightly on Monday and Tuesday continued trending downward as uncertainty looms.
Bitcoin fell 4. 72% over the weekend and another 3. 50% during Monday’s Asian session as tensions driven by Trump’s tariffs have investors derisking their positions. Over the weekend, China responded to Trump’s tariffs by indicating interest in imposing tariffs on US goods, while Canada imposed a 25% tariff on CA$155 billion worth of US goods.
2025 has not started on a strong note for Ethereum (ETH), as the second-largest digital asset by market cap continues to trade below its yearly open. Recent on-chain movements also suggest that crypto whales might be losing confidence in ETH’s potential to deliver outsized returns.
The crypto market trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data The Fed expressed caution around inflation, especially as President-elect Donald Trump’s policies will kick in after his inauguration on January 20 Meanwhile, spot crypto exchange-traded funds (ETFs) logged outflows from Wednesday, January 8 Bitcoin […]
The post Weekly price analysis: prices decline on risk-off sentiments appeared first on CoinJournal.
Cryptos trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data. The Fed expressed caution around inflation, especially as Trump’s policies will kick in after his inauguration on Jan.
