Cryptocurrency

Billionaire investor Stanley Druckenmiller became the latest famous name to disclose a Bitcoin position. Although Druckenmiller did not specify the quantity he had purchased, he did say that Bitcoin will outperform gold a lot more “because it’s thinner, more illiquid, and has a lot more beta to it.” Paul Tudor Jones, Stanley Druckenmiller, and Bill Miller are some of the most successful traders and investors on Wall Street. A stamp of approval from them is likely to attract several other investors who may want to diversify their portfolio and outperform the markets. Daily cryptocurrency market performance. Source: Coin360 In further validation for the crypto space, controversial Australian politician Cory Bernardi has called Bitcoin (BTC) “the millennial’s version of gold.” Even though Bernardi said that risks remain, he believes they are similar to that of any other asset class. Alex Saunders, founder of the crypto education site Nuggets News, views the endorsements for cryptoc...

Bitcoin (BTC) has rallied about 90% year-to-date and has risen close to 191% from its March lows. The rise has been gradual without much fanfare, which suggests that crypto believers are the ones who have been buying in 2020. October’s monthly close at $13,798.99 is the highest ever, surpassing the December 2017 close at $13,789.68. The strong performance of Bitcoin may now attract the momentum players and the speculators who look to benefit from the strength. Crypto market weekly performance data. Source: Coin360 If that happens, then Bitcoin could pick up momentum and surprise investors to the upside. This could result in traders selling their altcoins to invest in Bitcoin. Hence, the altseason looks to be over in the short-term. Three of the top-five cryptocurrencies analyzed today may offer a trading opportunity to the upside while the other two may continue to decline further. Let’s watch the critical levels that may indicate the start of a trending move. BTC/USD Bitcoin ...

The Binance coin price is trading at $28.39 (-2.75%) on October 01, 2020. It seems that BNB price is once again trying to touch the $30 mark. Binance coin was one of the best performing altcoins in September. In the last 30 days, the Binance coin price has increased by almost +15.6%. It seems that now it is trying to touch the $30 mark. Let’s take a look at it in more detail. Binance Coin Price Analysis: BNB Price Daily Chart BNB/USD Daily Chart: Tradingview In the daily chart, the Binance coin price has slightly managed to gain after jumping from an overextended RSI and rising above the 50-MA, the 100-MA, and the 200-MA. The next most crucial resistance level could be $29.31. The daily MACD is slightly bullish again and these could be the positive signs for the Binance coin price. The key metrics are as follows: Price $28.41 24hr Change -2.68% 24hr Vol $130,653,748 Liquid Marketcap $3,078,353,773 Liquid Supply 108,345,641 Binance Coin Price Analysis: BNB Coin Price 4-...

This week Digital Assets Data CEO Mike Alfred told Cointelegraph that mainstream investors are still “skeptical of Bitcoin and the ecosystem."  However, Alfred believes that this “skepticism and disbelief” will turn out to be a positive for Bitcoin (BTC) because when the “traditional folks capitulate, they will be forced by their clients and partners to get involved at significantly higher prices." While Bitcoin has struggled to start a sustained uptrend in the past few weeks, select altcoins and tokens in the DeFi space have been in a strong bull run. This shows that traders attention has shifted away from Bitcoin. Crypto market data daily view. Source: Coin360 Pantera Capital founder and CEO Dan Morehead believes that the DeFi space will outrun Bitcoin in the next five years and grow by about 100x.  In the long-term, most analysts are uber bullish on the crypto space but what can traders expect in the next few days?  Let’s have a look at the cryptocurrencies that...

Corrections are healthy for the strength of an uptrend because they shake out the excess exuberance and provide an opportunity to the traders who missed the bus earlier to make an entry at lower levels. About 68 crypto investors did the same thing when they used the recent dip to purchase anywhere between 1,000–10,000 Ether (ETH).  Buying against the prevailing short-term negative sentiment during a correction is not an easy task but it is generally the right thing to do if the medium-term trend is bullish.  Daily cryptocurrency market performance. Source: Coin360 Tops and bottoms are confirmed only in hindsight, hence, selling at the top or buying at the bottom is a difficult task. Instead, traders can consider buying after the price rebounds off a support level repeatedly. Even these purchases are not foolproof because many times, the price jumps up a little, only to turn around sharply and break below the support. Therefore, traders should always keep a stop-loss to p...