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The price of Bitcoin couldn’t break through the resistance of $10,400 and therefore retraced towards the next major support area, which is found at $9,500. As discussed in a previous analysis, a retracement is still very healthy for the market. Bitcoin alone managed to surge from $6,900 to $10,400 in the past six weeks, which usually means a correction is on the horizon.
The past few days have been turbulent for Bitcoin (BTC), with the cryptocurrency plummeting from highs of $10,500 to lows of $9,500, which is the level at which it has been able to find notable support at.
This support has led the cryptocurrency to enter a bout of sideways trading at just under $9,700, and it now appears that this consolidation could be followed by a major upwards movement.
Bitcoin and the aggregated crypto markets have seen some turbulence over the past couple of days, with bears gaining firm control over the entire market after BTC broke below $10,000 this past weekend.
Analysts are now noting that things may not be as bearish as they seem, as Bitcoin has been able to bounce at a critical support level.
The crypto’s strong reaction to this level may suggest that a rally up towards $10,000 is imminent, with a break above the resistance here potentially allowing it to incur massive momentum.
- Bitcoin defended key support around $9,600 on Sunday with a doji candle, stalling the price pullback and putting the market into neutral.
- A break above Sunday’s high of $10,051 is needed to revive the short-term bullish view. That would likely light a fire under buyers, fueling a rise to the recent high of $10,500.
- On the downside, Sunday’s low of $9,598 is now the level to beat for the bears.
Apple, Samsung, Microsoft, Google, IKEA, Peugot, Renault Tesla, Airbus, Hyundai and even Google have all shut down factories and offices in China recently due to the coronavirus.
The impact on supply chains stretches beyond products made entirely in China, to the many components made there too. Many essential products from pharmaceuticals to electronics are now in short supply
The Bitcoin price has increased by more than 300% since December 2018. This has caused many to believe that we are in a bullish market and compare the recent movement to prior periods in which the price increased considerably. However, the question remains: What is the period that resembles the current price movement the most? Self-proclaimed cryptocurrency market whisperer @onemanatatime……
The moment many conspiracy-minded bitcoin enthusiasts have been waiting for arrived yesterday when Info Wars muckraker Alex Jones compared bitcoin to a “power of fire” gifted from the gods to humankind. The bold commentary took place in the context of a Max Keiser interview, in which the Keiser Report host declared a new $400,000 target for bitcoin. The two discussed the freedom-forged properties of the permissionless money, the global economy, and the coronavirus connection.
Altseason might have to wait. After taking a plunge amid global sell-off in the cryptocurrency market, Bitcoin dominance is on the rise again. According to the latest data on the CoinMarketCap chart, BTC dominance stood at 63.29% on 17th February.
Following this, the lesser-known altcoins, which posted significant rallies this past week, has been facing downtrend once again.
Currently, the entire crypto market is facing turbulence as Bitcoin moves towards $9,500, with its break below $10,000 leading other cryptocurrencies to similarly break below key support levels.
At the time of writing, XRP is trading down just under 8% at its current price of $0.277, which marks a notable decline from daily highs of $0.31, and a significant break below its previous support at $0.30.
Due to the open-source nature of the blockchain, new cryptocurrencies have emerged with new value-adding features for their holders. One of these features is the ability to receive dividend-like payments.
For example, Proof of Stake (PoS) cryptocurrencies pay “interest” to their holders for staking their coins to secure the network. Moreover, some digital tokens issued by exchanges pay their holders a share of their trading fee income.
Here’s a look at the ten best dividend-paying digital currencies and tokens that you can invest in to earn passive income as a cryptocurrency investor.
According to a Feb. 17 announcement, UEFA will distribute over one million soccer match tickets via a blockchain-enabled mobile application. The organization claims that this new ticketing system will make “entry into the stadium smooth, safe and secure.”
The new blockchain-based mobile ticketing solution is meant to prevent the duplication and replication of tickets by “QR codes only being activated by Bluetooth once fans are in close proximity to the stadium.” The app will be available for download toward the end of May for both Android and iOS devices.
The revelation of a novel situation at the Chinese Exchange, Fcoin, seems like a blatant attempt to scam its’ users. The series of events, transfer of funds, and withdrawal “promises” are all screaming foul play.
Most importantly, the exchange claims that the withdrawals have been stopped. However it continues to move Bitcoins from its cold wallets. Leading crypto analyst, Dovey Wan from Primitive crypto notes in a series of tweets,
Over $40 billion was erased from the cryptocurrency markets since Feb. 14, in-line with a correction visible throughout most digital assets including Ethereum, XRP, and Litecoin. During that time, the Crypto Fear and Greed Index (CFGI) sensed market participants becoming overwhelmingly bullish. This fundamental indicator reached a value of 65, which represents greed.
This week, Coinbase Commerce, a popular platform that helps merchants accept cryptocurrency payments in a completely decentralized way, has integrated Dai as a payment method. Merchants around the world can now accept Dai as a payment for goods and services in minutes. Moreover, merchants do not pay a fee to use Coinbase Commerce, making onboarding free in addition to simple and secure.