In the past 48 hours, the bitcoin price increased by around nine percent from $7,740 to $8,462. In the same period, XRP, Ethereum, and other top crypto assets stagnated, either flatlining against the U.S. dollar or falling.
Factor #1: Crypto traders are not so confident in the move
The upsurge of bitcoin in the past two days were from a relatively strong resistance level to another heavy resistance area at $8,400. Since surpassing $8,400, BTC has dropped by around $120, struggling to break out above $8,300.
It is likely that traders did not anticipate a significant upside movement from $7,700 to occur in the short-term, and speculated that $8,400 would be the cap of BTC’s short-term surge.
In the same period, the price of XRP actually fell by around two percent against the USD and about ten percent against BTC at one point.
Ethereum remained stable against USD, recording a nine percent decline against BTC.
In recent weeks, the alternative crypto asset market has shown little signs of full blown recovery in spite of BTC’s strong momentum.
Most crypto assets like XRP and Ethereum increased in value when bitcoin spiked, generally following market sentiment.
Hence, bitcoin’s sole rise in value in the past 48 hours could demonstrate that investors did not seen enough upside potential in the dominant cryptocurrency to take on relatively riskier options in alternative crypto assets such as XRP.
The first breakout of XRP in eight months has been met with a big rejection (Source: TradingView)
Factor #2: Many altcoins like XRP recorded first major rally in months
As reported by NewsBTC, XRP recorded its biggest single-day rally in eight months, rising by a staggering 10.5 percent within a 24-hour span.
Throughout 2019, most alternative crypto assets were stagnant against both the USD and bitcoin. Even assets like Ethereum, which performed strongly in mid-2019, ended the year with a net negative.
Investors are likely to have found no strong reasons to anticipate that a proper altcoin market recovery is imminent, especially considering that most crypto assets have significantly underperformed in the past year.
For instance, in the first week of October, the bitcoin price was hovering at around $8,300, where it currently stands. At that time, Ethereum was hovering at just over $200. The post appeared first on NewsBTC. origin »
The size, liquidity, and growth of crypto markets are still in its infancy. Even all crypto-related activity is still minimal in comparison to traditional assets. Global Stock Markets Add More Than 3 Times the Total Value of Crypto Assets in a Week Global stock markets continued to rally in 2019, despite some fears of a correction.
Nexo is one of the most successful crypto lenders on the market and has developed the BCH lending service in collaboration with Bitcoin.com. By making BCH-backed loans available on their platform, it enables BCH holders to take loans against their assets instead of having to sell when needing liquidity. This increases the utility of the […]
Nouriel Roubini, “Dr. Doom”, once again lashed out against the perceived lack of value of crypto assets. This time, he selected Ethereum (ETH) specifically. ETH Has No Intrinsic Value, Dr. Roubini Believes Dr.
Our civilization is now on the threshold of the fourth industrial revolution, which will be characterized by a combination of technologies that erases the boundaries between the physical, digital and biological spheres.
The altcoin known as Stellar (XLM) has been among the top ten list of crypto assets by market cap for some time, but has been among the least hyped of the bunch since the bear market first began in 2018.
Stablecoins are one of the most consistent assets of the cryptocurrency industry, and there have already been many countries and companies to come out with their own versions. While the idea of having an asset pegged to an asset is appealing to some, the European Union is notably setting themselves apart. While the EU isn’t […]
Gold plunged 1. 5% on Tuesday as risk-off assets suffered. U. S. services PMI improved more than expected in October, according to the Institute for Supply Management. U. S. dollar hits three-week high against a basket of currencies.
Gold is one of the commodities that is routinely compared to Bitcoin and sometimes other cryptocurrencies. Since digital assets could be considered a hedge against recessions, it is considered a safe bet along with silver.
XRP, the native cryptocurrency of the XRP Ledger and RippleNet developed by Ripple, is the only top 10 crypto asset to record a drop against the U.S. dollar year-to-date. In the same period, the price of Bitcoin has increased by more than two-fold from below $4,000 to $9,100 and other crypto assets such as Ethereum, […]
The post Despite big partnerships, XRP is the only top 10 crypto to drop year-to-date appeared first on CryptoSlate.
Bitcoin has been described as a safe haven in times of recession, appealing to investors looking towards it as a hedge against traditional markets. However, the same thing can be said about gold.
At the California Central District Court, The United States Securities Exchange (SEC) has applied a plea for a record of non-remittance against ICOBox and Nikolay Evdokimov-defendants. The two are accused of running unregistered $14 million securities offering of ICOBox’s digital tokens.
Edward David Burt, the Premier of Bermuda, has recently affirmed that cryptocurrencies can work as a great equalizer against “big tech”. He affirmed this during a recent interview with Forbes. According to him, cryptos are important to ensure that citizens are not at the mercy of big corporations and the government. The Premier has a […]
In a recent debate with Roger Ver hosted at the CC Forum event in London, Dr. Nouriel Roubini shook his fist at crypto assets once again, making a series of accusations on any and all coins. Former Bitcoin.
A resilient week for crypto assets saw the market shake off two bearish news events. The SEC took abrupt action against the US$ 1.7 Billion Telegram token and Visa and Ebay joined PayPal in leaving the Libra blockchain consortium. Most assets ended the week in the green.
Taxation on cryptocurrencies and their associated earnings have long bugged crypto-enthusiasts across the world. An attempt to clarify the tax position on these assets was offered by Shartsis Friese LLP’s tax attorney, Dashiell Shapiro, who appeared on BloombergTV.
In a surprise tweet, just a day after a $1. 4T class-action lawsuit against Tether, a director at VanEck has come out in support of the controversial company. “Protection innovation!” he writes.
The world as a whole is slowly starting to accept Cryptocurrencies and, to a further extent, blockchains into their day-to-day functionality. While countries like Uganda warns against the use of things like Bitcoin, Russia has set out to divide cryptocurrencies into three legal categories.
Binance went on a delisting spree, going as far as to eliminate the BTT/BTC pairing. Binance culled 30 trading pairs in total, without removing the actual assets. Binance Removes Launchpad Token Pairs The most significant removal was for BitTorrent Token (BTT).
Boerse Stuttgart Digital Exchange (BSDEX) has launched - CryptoNinjas
Today, trading has started on Boerse Stuttgart Digital Exchange (BSDEX). The BSDEX is the first regulated trading venue for digital assets in Germany where investors’ orders are executed directly against each other according to fixed rules.
The prices of digital coins that offer Masternode staking have suffered in 2019, crashing additionally despite the incentive to hold onto the assets. The market prices have also sunk against Bitcoin (BTC).
The US shares a complicated relationship with North Korea and it is getting, even more, complex. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced on Friday, sanctions against three North Korean hacking groups accused of attacking important institutions, malicious cyber-attacks and stealing millions from cryptocurrency exchanges to financial institutions.
Asian stocks advanced on Friday after an apparent thawing in U. S. -China trade tensions fueled investors' appetite for riskier assets. In the process, the Chinese yuan stabilized at three-week highs against the U.
Asian stocks advanced on Friday after an apparent thawing in U. S. -China trade tensions fueled investors’ appetite for riskier assets. In the process, the Chinese yuan stabilized at three-week highs against the U.
Many regulators and heads of financial institutions have expressed concern over cryptocurrencies and their use. Crypto assets come with many challenges that place financial institutions in an awkward position as far as dealing with digital assets goes.
The crypto industry has been plagued with issues pertaining to the security of these assets and financial crimes that are committed using these digital assets. There are some industry players that have come together in a bid to fight against crypto crimes.
The Securities and Exchange Commission (SEC) announced pressing charges against Bitqyck Inc. and its founders for defrauding investors in securities offerings of two digital assets and operating an unregistered exchange.
Bitcoin has dropped towards the $9,300 level for the first time in the last 30 days as investors continue to explore traditionally perceived safe-haven assets against global market risks. The benchmark cryptocurrency plunged by $950 within a matter of a few hours.
Last week, the Securities and Exchange Commission issued an emergency lawsuit against Reginald Middleton and his two companies, Veritaseum LLC and Veritaseum Inc. , alleging Middleton had held a fraudulent ICO.
Cybersecurity, a huge industry worth over $100 billion, is regularly subject to buzzwords. Cybersecurity companies often (pretend) to use new state-of-the-art technologies to attract customers and sell their solutions.
Coin market ranking chart application, CoinGecko joins forces with blockchain-based financial ecosystem and global leader in regtech for digital assets, Coinfirm. As per the claims made, two things will arise from this partnership: bettering the former’s exchange, i.
The Indian supreme court resumed hearing the writ petitions against the banking restriction by the central bank, the Reserve Bank of India (RBI), on Wednesday. Many issues were discussed, ranging from the legality of the RBI action to the classification of crypto assets and how each country regulates them.
The Indian supreme court resumed hearing the writ petitions against the banking restriction by the central bank, the Reserve Bank of India (RBI), on Wednesday. Many issues were discussed, ranging from the legality of the RBI action to the classification of crypto assets and how each country regulates them.
SEC Commissioner Hester Peirce says countries should develop individual regulatory frameworks for crypto assets and not rely on a global framework for all jurisdictions.
The tension between the government of the U. S. and Venezuela has recently skyrocketed. In a move against the Venezuelan president Nicolas Maduro, the U. S. administration decided to freeze all possible Venezuelan assets.
Media executive, political figure and President Donald Trump’s ex-advisor and influence during the former’s winning election, Steve Bannon does not agree with the claims made by the president in regard to cryptocurrencies reports CNBC.
Today’s Bitcoin (BTC) News There is tension, and according to Anthony Pompliano, the co-founder of the asset management firm, Morgan Creek Digital Assets, global banks are diversifying away from the USD, hedging against possible downturns.
Voyager upgrades its unique routing tech enabling instant BTC execution » CryptoNinjas
Voyager, a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets.
The National Association of Software and Services Companies (NASSCOM), a non-profit trade association made up of firms in India’s information technology and business process outsourcing industry, has kicked against the government’s move to make bitcoin trading as well as transactions involving other blockchain-based digital assets illegal, reports LiveMint on July 30, 2019.
Ethereum was on the top of its game during the 2017’s ICO mania. Thousands of projects lined up to launch their so-called decentralized assets atop the Ethereum blockchain and raised millions of dollars.
As the U. S. lawmakers and the Treasury Secretary consider implementing stringent regulations against cryptocurrency, Circle has packed its bags and moved offshore to Bermuda. Circle Moves to Evade Oppressive Regulation As regulatory pressure continues to stack up against cryptocurrency companies, Circle has announced that it is moving nearly 100% of its exchange operations offshore.
Last week, Bitcoin was nursing a heavy hangover, which took hold of the cryptocurrency market after BTC hit and failed to break through $13,800. BTC was in the dumps, having lost 30% from its year-to-date high, and altcoins were doing even worse, with assets like Ethereum and Litecoin bleeding against the market leader.
The entire world is currently facing economic uncertainties following the ongoing trade wars, the most prominent one being between the United States and China. Investors are therefore seeking alternative assets to gold and the US bonds and bitcoin is gaining traction due to its capacity to maintain a fierce rally amid the harsh economic times.
Ripple’s XRP displays recovery signals after significant declines, down 7% lower on the weekly chart. According to Coinmarketcap, the token’s trading volume exploded by 122% to $5. 45 billion within the past 24 hours.
The cryptocurrency market continues to face bearish momentum as Bitcoin (BTC) drops to a monthly low, dragging down major altcoins alongside it. Despite an uptick in trading volume, the overall market sentiment remains cautious, with uncertainties surrounding regulatory developments and market dynamics.
Despite rising by over 250% in 2024, XRP price could test $1. 96 as 2025 starts. Eyes are on the outcome of the US SEC appeal. Amid the XRP price uncertainties, iDEGEN has emerged as a possible alternative investment.
XRP price continues to slowly form a bullish pennant chart pattern as expectations of the Securities and Exchange Commission approving a Ripple ETF rise. Ripple (XRP) price was trading at $2.2 after falling 25% from its highest point this year,…
Meme coins ranked among the most popular crypto narratives of 2024, creating a divide between crypto tokens. Bitcoin stands out among top crypto tokens with 125% year-to-date gains and the meme coin category, or the “other tokens” hit a key milestone, crossing a market capitalization of $100 billion.
Cryptocurrencies exhibited mixed signals on Thursday as Bitcoin struggled around the $95,000 mark. While sellers threatened continued dips, MOON DENG, PENGU, and Ripple’s XRP had optimistic updates for their communities.
The recent US elections have delivered significant financial windfalls for leaders in the crypto space, with some seeing their fortunes soar by billions. A report by CoinDesk reveals that key players such as Coinbase’s Brian Armstrong and Ripple’s Brad Garlinghouse have experienced massive gains following Trump’s victory.
