Cryptocurrency

There were mostly range moves in bitcoin price below the USD 15,500 and USD 15,600 resistance levels. BTC is losing momentum and there is a risk of a bearish reaction below USD 15,200 and USD 15,000. The price is currently (13:00 UTC) trading below USD 15,350 and it seems like the bears are aiming for a test of USD 15,000. Similarly, most major altcoins are moving lower, including ethereum, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD is trading below USD 450 and it might continue to move towards USD 442 or USD 440. Conversely, XRP/USD outperformed and it broke the key USD 0.255 resistance level. Total market capitalization Source: www.tradingview.com Bitcoin price After struggling to settle above USD 15,500, bitcoin price started a slow decline. BTC broke the USD 15,400 and USD 15,350 levels. The price could extend its decline below USD 15,200 and it could even revisit the USD 15,000 support level. Any further losses may perhaps open the doors for a test o...

David Schwartz, Ripple’s Chief Technology Officer, has revealed he lost more than $300,000 investing in altcoins. According to a Nov. 2 post on Quora asking readers if they had lost any money trading Bitcoin (BTC) and other cryptocurrencies, Schwartz stated that he had made a few crypto investments that he “ultimately had to write off as worthless.” “I’ve bought quite a few cryptocurrencies that turned out to be disasters,” stated the Ripple CTO who is a very frequent Quora contributor. “My total losses, just on tokens that became completely worthless, is just over $300,000.” Schwartz listed 11 tokens in particular that turned out to be bad investments for him, including Blocktix (TIX), DICE, Flash (FLASH), Vezt (VEZT), Amp (AMP), Signal Token (SIG), Bee (BEE), Kind Ads Token (KIND), Pryze (PRYZ), KudosCoin (KUDOS), and Neuron (NRN). Many of the altcoins went to zero in 2017 and 2018. Overall it seems quite lucky that Schwartz isn’t Ripple’s Chief Investment Officer given his h...

Bitcoin is currently in the process of retracing following a rejection at highs of $14,100 that were set this past week. Although bulls had found stability around $13,800 following the rally to these highs, they have not been able to guard against massive inflows of selling pressure that has come about throughout the past few hours. This selling pressure has been quite significant and may continue mounting if the crypto cannot post a strong defense of the lower-$13,000 region. One analyst is now noting that November could be the month during which altcoins can regain some of their momentum. He believes that a confluence of Bitcoin’s declining dominance seen over the past day, coupled with the bulk of most major altcoins currently trading at their high time frame support levels, seems to indicate that upside is imminent. That being said, his reasoning also hinges on Ethereum rallying first, although it is continuing to show heightened signs of weakness following an overnight rejec...

Remember that altcoin, the one you thought was going to be big and make you tons of profit? The one whose bag you bought and perhaps, are holding to this day? Yes, this article is about those altcoins that you thought were gonna get big, perhaps even becoming the next Bitcoin. Alas, most of these coins have already been forgotten and are valueless. On a personal note, I couldn’t decide if I was going to name these altcoins “Zombie coins” or “Dead coins walking.” After all, both seem good. Eventually, I had to settle with one and it was the former. Zombie coins – What are they? Put simply, “Zombie coins” are those altcoins that were once in the top-10, but have been dead ever since. However, they can still be found, seemingly alive, but dead without a doubt. Cryptocurrencies, as we know, are a new asset class. But, they follow cycles of boom and bust, just like equities. Cryptocurrencies have mostly followed Bitcoin’s cues when it comes to cycles. The last cycle started in early-201...

Source: Pixeljoy - Shutterstock The Deutsche Bundesbank has awarded the Ocean Protocol the contract for the conceptual design of a decentralized data network. The Ocean Protocol was the only company that was able to offer a technical solution that was outside the conception phase. Already three days ago, on October 28, the Deutsche Bundesbank, the central bank of the Federal Republic of Germany, made public the award of a contract to the Ocean Protocol in a public tender. Contrary to the current worldwide trend of researching digital central bank currencies, the Bundesbank aims to develop “a decentralized network, which allows equal participants a permanent, symmetrical data access for the realization of real-time updates of statistics under preservation of data sovereignty”. The selection decision was based on the requirement, as the Deutsche Bundesbank determined, that the Distributed Ledger Technology (DLT) “should be associated with a distributed database in a high-perform...

ADVERTISEMENT A contrarian investor known in the industry as CryptoWhale believes that XRP eventually will wipe out nearly every other altcoin. In a new tweetstorm, CryptoWhale tells his 34,000 followers that XRP will be one of the last coins standing once the crypto industry enters a new phase of regulatory scrutiny and acceptance. The only project in the entire market that is pushing for Crypto Regulations is $XRP. They know that once these regulations are added, it will completely annihilate almost every other altcoin, and make XRP’s demand skyrocket. — CryptoWhale (@CryptoWhale) September 8, 2020 The crypto investor highlights that while other coins are booming, Ripple is quietly doing the work behind the scenes to ensure that its native token complies with the requirements of government agencies. CryptoWhale is not all talk as he says he’s looking to purchase more XRP once the correction is over. “I’ve been involved with XRP since 2013, and let me tell you. There’s a...

Bitcoin price remained well supported above the USD 11,500 and USD 11,550 support levels. As a result, BTC started a fresh increase above USD 11,700, fueled by Ethereum’s 10% rally. It is currently (08:30 UTC) trading above USD 11,800 and it seems like the bulls could make an attempt to clear the USD 12,000 resistance. Most major altcoins are rising and gaining bullish momentum, including ethereum, XRP, litecoin, bitcoin cash, EOS, TRX, XLM, LINK and ADA. ETH/USD is up 10% and it traded to a new 2020 high above USD 460. XRP/USD is recovering nicely and it could soon test the USD 0.298 and USD 0.300 resistance levels. Total market capitalization Source: www.tradingview.com Bitcoin price The current technical structure for bitcoin price indicates a decent increase above USD 11,800. If BTC clears the key USD 12,000 resistance, the bulls are likely to gain strength. In the mentioned case, the price might accelerate higher towards the USD 12,400 and USD 12,500 resistance levels. If ...

Singapore-based Delta Exchange recently revealed the launch of options contracts for altcoins. This is the first case of options contracts for assets other than Bitcoin and Ethereum. The exchange added support for LINK and BNB, with plans to add even more altcoins soon. Cryptocurrency exchange known as Delta, based in Singapore, revealed yesterday that its users can now engage in altcoin options trading. While crypto options trading is nothing new in the industry, most services that provide it only cover Bitcoin and Ethereum. However, Delta decided to expand the list of available coins by adding support for two altcoins right away, with plans to add new ones in the future. Delta adds support for Chainlink and Binance Coin The two altcoins available right now include Chainlink (LINK) and Binance Coin (BNB). Binance Coin has been attracting attention for a long time now, especially as Binance’s ecosystem continues to grow. Meanwhile, Chainlink recently saw utility expansion, a...

This Exchange News was brought to you by OKCoin, our preferred Exchange Partner. Although it may seem like Bitcoin has led the crypto market over the past few months, altcoins have strongly outperformed BTC since the start of 2020. A prominent analyst in the space shared the chart below, noting how FTX’s three altcoin indexes — the small-cap, medium-cap, and large-cap indexes — have registered better performances than BTC since the start of the year. FTX’s “SHIT” index, for instance, is up 80 percent in the past five months alone. Bitcoin vs. low-cap, mid-cap, and large-cap altcoins chart from analyst Ceteris Paribus The strong performance of altcoins seems to be related to the fact that they were crushed heavily in 2018 and 2019, and thus, were poised to recover after being so oversold. “[The bounce] isn’t too surprising given how far altcoins fell versus bitcoin over the past couple years,” the analyst who shared the above chart opined. What comes next for altcoins though...

The crypto asset known as Theta was the hottest altcoin in the space during May, but false rumors of a partnership with Google led to a strong selloff. The downside in the cryptocurrency looks to continue, as two highly accurate sell signals have triggered on weekly timeframes on both the USD and BTC trading pairs. Theta Pumps Nearly 400% Against the Dollar in May, 350% Against Bitcoin At the start of May to the peak of the pump, the altcoin known as Theta rallied over 360% against Bitcoin. There was a matching nearly 400% rise on the USD trading pair. The rally was fueled by false information spreading about a partnership with Google, however, it was later revealed that the partnership was simply Theta relying on Google’s cloud services on the client-side. While no true partnership exists, the massive surge brought back memories of the crypto hype bubble. Related Reading | Theta Cryptocurrency Plunges 50% As Traders Question Google Partnership  During that time, it wasn’t uncommo...

ADVERTISEMENT Crypto strategist Nicholas Merten is naming seven altcoins that he believes are in a good position to surge in a new bull market cycle. On the latest episode of DataDash, the crypto analyst examines when the altcoin market may begin to turn around. “What it looks like [Bitcoin is] doing is possibly coming up here to around $11,000, breaking out of this very long-term wedge, breaking out above resistance, and making it support for the next coming months. If [Bitcoin] can do this and start to trigger the next cycle, this is actually very good news for altcoins. Now, why is that? It’s because we need an increase of liquidity and valuation in Bitcoin markets in order to usually see that kind of benefit go onward to altcoin markets.” If and when a new altcoin season begins, Merten says that Ethereum (ETH) is preparing for fireworks before the end of 2020. “What we want to look for is an eventual breakout above this wedge and a continuation of higher lows and higher h...

The price of Bitcoin (BTC), the top-ranked cryptocurrency by market capitalization, hit the psychological barrier of $10,000 but immediately rejected. Meanwhile, the sentiment is shifting from fear towards greed as the Crypto Fear & Greed Index is now above 50 for the first time in three months. However, altcoins have been showing weakness across the board. Investors are selling their altcoins to catch the Bitcoin train with the halving now less than three days away. Crypto market daily performance. Source: Coin360 Bitcoin hits the psychological level of $10,000 BTC USDT 12-hour chart. Source: TradingView Bitcoin is showing strength as the halving is approaching with the hype only increasing by the day. FOMO (fear of missing out) is increasing as well, which makes people eager to step into Bitcoin and the price to rally heavily. However, is such a rally sustainable, or will this be another case of “buy the rumor, sell the news”? Based on the previous halving and the previou...

Bitcoin’s halving is here in just one week, and the first-ever cryptocurrency is widely expected to rally as a result. But Bitcoin dominance has been consolidating at a key level. This could indicate that altcoins will soon outperform BTC with a sustained rally over the next several years. BTC Dominance Reached 0.5 Fib Level, Key Area for Reversals To Take Place The crypto hype bubble and Bitcoin bull run that swept the public up in its storm also brought BTC dominance to the lowest point ever. After the crypto market peaked in late 2017 and early 2018, BTC dominance went on a tear. The recovery rally saw BTC dominance annihilating altcoins in its wake. Related Reading | Published Author and Altcoin Trader Highlights 5 Crypto Set to Outshine Bitcoin  When Bitcoin began trading at over $10,000 once again in mid-2019, altcoins were further decimated. Dominance peaked at over 70% and has since fallen back to around 67%. The key level represents a full 50% retracement in BTC dominance...

Bitcoin (BTC) price has risen over the $9K mark for the second time in 24-hours. On Saturday the day bulls managed to push the price of the top listed crypto-asset on CoinMarketCap to $9,010 but the price quickly rejected at the top of the bull pennant and pulled back to the $8,800 support before making a successful second attempt at breaking out.  Crypto market daily price chart. Source: Coin360 The breakout brought the price to $9,200 and at the time of writing Bitcoin price has pulled back to the $9,100 level where traders are attempting to establish support.  On the shorter timeframe traders will note that the breakout occurred on a slight spike in volume but purchasing volume has now returned to the levels seen earlier in the day.  BTC USDT 4-hour chart. Source: TradingView A few possibilities could play out over the next few hours: Bitcoin price could consolidate between $9,200 and the bull pennant trendline which is also aligned with a high volume node on th...

Two separate charts taking a top-down view across the wider crypto market may provide clues as to where the altcoin asset class is headed. Each chart shows that altcoins are at potentially their most critical moment yet, and are facing the most important weekly close yet at the end of this week. Altcoins Start 2020 Strong, But Black Thursday Crypto Collapse Backtracked Breakout As 2020 first got underway, altcoins broke out from two-year downtrend lines and carried on into the stratosphere with powerful recovery rallies. The likes of Ethereum, Tezos, and Chainlink greatly outperformed Bitcoin, but eventually, all assets were caught up in the Black Thursday destruction that occurred in mid-March, wiping out all of the early 2020 gains and sending these assets tumbling back to extreme lows. Related Reading | Buy Signal on Litecoin Paves Way For Astronomical Crypto Altseason  While many individual assets had broken out of long-term trendlines, the overall altcoin market cap paired wi...

Analyst and trader Michaël van de Poppe is laying out his short, mid and long-term predictions for Bitcoin (BTC) and the greater cryptocurrency market. The analyst says BTC may be getting its mainstream mojo back after its recent surge above $9,000. ADVERTISEMENT “Today was one of those days that ‘old’ friends all of a sudden start to ask whether ‘it’s a good time to buy BTC’. Last time was around June 2019.” Van de Poppe cautions that Bitcoin has likely hit a short-term ceiling and could establish a range around $8,500, giving Ethereum (ETH), XRP and the altcoin market at large enough breathing room to rise. “Massive move yesterday. Came all the way towards the support level of summer ’19. Not expecting to see a breakthrough, despite the euphoria. Calming down of BTC would trigger altcoins to bounce up in their BTC pairs and follow suit… Volatility should probably come down a bit in the coming days. Could still [see] a few $100 swings, but slowly decreasing. Range supports:...

Bitcoin‘s halving is in less than three weeks away, and the biggest event in crypto has everyone talking and speculating once again. But while things are potentially looking bullish for Bitcoin, altcoins could get crushed during the explosive volatility expected when the BTC block reward halves in just a couple short weeks from now. Here’s why altcoins may suffer amidst the upcoming BTC block reward halving. BTC Halving: Upcoming Bitcoin Volatility Could Crush Altcoins Bitcoin‘s halving is at this point just days away – an incredibly important event for the cryptocurrency and a true make it or break it a moment. For the last few years, crypto investors have been holding out hope that history repeats, and just like the last two times it occurred, the Bitcoin halving caused a dramatic bull run causing BTC to reach sky-high prices. The last time around, Bitcoin rose to over $20,000 and made the asset a household name, and put it on the same pedestal next to stocks, commodities, forex, an...

Bitcoin‘s halving is in less than three weeks away, and the biggest event in crypto has everyone talking and speculating once again. But while things are potentially looking bullish for Bitcoin, altcoins could get crushed during the explosive volatility expected when the BTC block reward halves in just a couple short weeks from now. Here’s why altcoins may suffer amidst the upcoming BTC block reward halving. BTC Halving: Upcoming Bitcoin Volatility Could Crush Altcoins Bitcoin‘s halving is at this point just days away – an incredibly important event for the cryptocurrency and a true make it or break it a moment. For the last few years, crypto investors have been holding out hope that history repeats, and just like the last two times it occurred, the Bitcoin halving caused a dramatic bull run causing BTC to reach sky-high prices. The last time around, Bitcoin rose to over $20,000 and made the asset a household name, and put it on the same pedestal next to stocks, commodities, forex, an...

Altcoins — crypto assets that are not Bitcoin — have done extremely well over the past four weeks. Per data from TradingView.com, after reaching 68%, Bitcoin dominance — the percentage of the crypto market that consists of BTC — has fallen to 64%. It’s a 4% drop that amounts to billions in this multi-billion-dollar asset class. Chart from TradingView.com This move has been led by largely fundamental rallies in a number of large-cap altcoins, such as Chainlink, which was recently subject to an influx of positive news regarding its adoption, and Tezos, whose foundation was recently confirmed to have a strong balance sheet that should be able to weather any economic recession or downturn in the crypto market. A prominent crypto trader, however, is starting to deleverage his altcoin positions, citing the fact that there are “red flags” appearing in this side of the Bitcoin market. This Crypto Trader Isn’t Convinced of Altcoins: Here’s Why In a recent Twitter thread, a crypto trader with t...

A pair of altcoins have greatly overperformed Bitcoin in recent weeks, going on powerful rallies both on USD and BTC trading pairs. However, a devastatingly accurate sell signal has now triggered across both of these crypto assets, potentially pointing to a retracement that could wipe out most of the gains generated against the first-ever cryptocurrency. And if these assets do pull back, where exactly are the levels of support to watch for a potential bounce to occur. Stellar’s Sudden Recovery Rally Could Come To a Crashing End As Sell Signal Hits Altcoin XLM The altcoin trading under the XLM ticker has recently staged a massive recovery against Bitcoin, right under the noses of crypto investors who have since written off the lagging cryptocurrency. XLM, alongside its altcoin cousin XRP, has been among the worst performers of the entire bear market. The crypto asset designed for borderless payments has fallen by over 90% from its all-time high to as low as $0.025 at the bottom of the ...