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Bitcoin’s price (BTC) action has been relatively uneventful, especially when compared against the explosive price action of last week when the digital asset stomped through the $9K barrier and rallied all the way $9,530 for a strong monthly close.
This week all of the attention seems to be oriented towards Tesla, who’s stock traded around $250 in late October and today topped $940, representing an incredible 310% rally over the past 3 months.
The price of XRP suddenly surged by more than eight percent on Feb. 4 while other top cryptocurrencies, including Bitcoin (BTC), remained in the red. The third biggest crypto reached an intraday high of $0.27, its highest level since Nov. 13, before retracing some of its gains.
Now that XRP is back in the limelight, traders are trying to figure out whether this recent spike will have legs.
- Bitcoin produced a “doji” candle on Monday, indicating bull fatigue and shifting risk in favor of a stronger price pullback. On the downside, major support is seen at $8,867 (200-day average).
- If the 200-day average support holds ground, a fresh move higher toward $9,600 could be seen.
- The overall trend will remain bullish as long as prices are holding above $8,200.
Bitcoin’s price action of the last 24 hours is telling a tale of buyer exhaustion and hinting at a more major price pullback ahead.
The Bitcoin halving plus geopolitical demand drivers may push Bitcoin above its previous all-time high in 2020. The CEO of the crypto asset startup Celcius believes that the combination of the two could see the leading digital asset reach as high as $30,000 before the end of this year.
Bitcoin (BTC) is having a field day as it seems to be enjoying the outbreak of the deadly coronavirus. As fear and uncertainty because of the virus continue to spread, the adverse effects are being felt by several businesses. The world’s financial markets also suffered a crash and even oil stocks are continuously crashing. However, the Bitcoin network is experiencing the direct opposite.
Nonetheless, the momentum extended to $70 high. Unfortunately, Litecoin rise has been hampered as it faces resistance at $72.The market is expected to rise provided the support at $66 holds. On the contrary, if the bears break beneath $66, LTC will reach the $60 low. Presently, the price is ranging over $66. It is anticipated that if the price holds, it is likely to bounce at its low. Then the bulls will have the opportunity to push the price over $70 and $80.
Jean-Michel Daumas – who owns a boutique in Paris, France – echoes this sentiment. In an interview, he states that many people do not utilize crypto as they should, considering it was always designed for payments, and businesses, in many ways, are really missing out:
People are not ready to pay with crypto. They prefer to keep it rather than spend it. I prefer to receive payments in crypto because they are more secure for me. For example, when I receive payments from PayPal, some people cheat and say they didn’t receive the goods.
Digital Asset, the company behind the open-source DAML smart contract language, has secured investments from Salesforce Ventures and Samsung Venture Investment Corp in the second closing of its Series C funding round.
Dorsey has always offered praise to bitcoin and cryptocurrency in general. In 2018, he stated that bitcoin was likely to become the world’s single currency in approximately ten years. In addition, he is about to embark on a three to six-month tour of Africa, in which he will work to bring bitcoin and the power of crypto to the continent’s many peoples. He has also said that bitcoin payments are likely to be as common as cash payments in the coming future.
In a short thread of tweets, Ethereum founder, Vitalik Buterin, proposed a possibility of the widely spoken about central bank digital coins. In the past year, a number of governments have announced plans to launch a digital currency to supplement their respective fiat currencies including the People’s Bank of China (PBoC), European Union (EU) and some talks of the Federal Reserve to look at the possibility of launching a digital dollar.
Crypto scammers have a history of taking over Twitter accounts that have an official “verified” seal and then changing the usernames to match the names of high-profile people in the world of tech, including Musk and Vitalik Buterin, the co-creator of Ethereum. The fraudsters then trick other Twitter users into sending Bitcoin to fake tech celebs and other bogus accounts.
According to an announcement Binance published, its revised Binance futures Market Maker program will see market makers who qualify receive a negative fee on selected trading pairs. Market makers are users who add liquidity to the market by placing orders below and above the current market price, effectively adding depth to the order book.