Archive for August 2020
Ethereum Likely to Plunge Towards $320 After Tapping This Key Level
Ethereum has been closely tracking Bitcoin’s price action throughout the past few weeks, although it has been able to outperform the crypto in recent days The cryptocurrency is currently trading up significantly from recent lows of $379 that were set during its recent selloff While BTC remains below its pre-selloff highs, Ethereum has been able…
Read MoreHere’s Why an Analyst Thinks Bitcoin Will Hit $12,000 Next Week
Bitcoin has pressed higher after the 3-4% correction on Thursday. As of this article’s writing, the asset trades for approximately $11,500. While this is above a notable price point already, analysts think that Bitcoin will extend its gains in the near future. One trader noted that there are clear signs that BTC will soon trade…
Read MoreThis Support May Launch Ethereum to $500, But Signs of Weakness Remain
Ethereum has seen a strong rebound from its daily lows. This has allowed it to climb into the $390 region This upsurge came about in tandem with that seen by Bitcoin and most other major cryptocurrencies This market-wide movement has allowed cryptocurrencies that were battered by yesterday’s downturn to erase virtually all of their recent…
Read MoreCheck Out Bitcoin And Gold’s “Uncanny” Correlation During Powell Speech
Yesterday, Federal Reserve Chairman Jerome Powell held a speech to talk about inflation and the impact on the economy. During Powell’s speech, the two top hedges against inflation pumped, then almost immediately dumped, faking out investors prepared to act on the bullish breaking news. Comparing the price action between the two assets, the correlation is…
Read MoreHere’s Why Bitcoin Could Dip to $9,400 Before Rocketing Higher Again
Bitcoin has flatlined in the $11,000s over the past few weeks as bulls and bears fail to establish a direction. BTC now trades at $11,400 as of this article’s writing, having dropped as low as $11,150 on Thursday. The cryptocurrency is seen by many to be in a no man’s land due to the resistances…
Read MoreThis Fractal Shows Bitcoin Will Flatline Around $11,000 For Two Weeks
Bitcoin now trades at $11,250 after peaking at $11,600 earlier today. The cryptocurrency has seen this volatility due to the reaction in the values of gold and the U.S. dollar to Jerome Powell’s speech. In the speech, the Federal Reserve chairman said that inflation could be over 2%. Bitcoin remains in no man’s land in…
Read MoreEthereum Still Likely to Dive to $360 Support as Funding Stays Neutral
Ethereum and Bitcoin have both posted notable rebounds after facing some intense weakness throughout the early morning hours ETH was able to rally from lows of $380 to highs of well over $390, while Bitcoin pushed back above $11,500 after dipping to $11,200 This strength is an incredibly positive sign for the market, as it…
Read MoreVeteran Strategist Sees Bitcoin Back at $12K as Powell’s Speech Nears
A veteran market strategist expects Bitcoin to hit $12,000 even as the cryptocurrency looks uncertain ahead of the annual Jackson Hole meeting on Thursday. Mark Principato, the founder of New York-based Seeking Cryptos, said BTC/USD is setting up for “a new swing trade long off of today’s inside bar.” The analyst was seemingly referring to…
Read MoreCelebrity Owned TIDAL Purchased $7 Million Worth of Sensorium Social VR Platform Tokens
SENSO, the in-platform token of Sensorium Galaxy, is suddenly in the spotlight following a $7 million purchase from TIDAL — global music and video streaming service co-owned by JAY-Z, Rihanna, Daft Punk, Lil Wayne, Chris Martin, and Calvin Harris. The Sensorium Galaxy is a social VR platform where users can interact with each other in…
Read MoreBitcoin Analyst Makes A Serious Bearish Call: A Drop Below $10.2K
An ongoing correction in the Bitcoin market may lead the cryptocurrency lower below $10,500, according to Alexander Nikitin. The founder of MPS Trade, an independent trading consultancy portal, spotted BTC/USD in a Head & Shoulder breakdown pattern. He noted that the pair earlier formed a set of three peaks–with the middle one being the highest–on a…
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