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Top 5 Cryptos This Week (March 1): LEO, HT, LINK, HEDG, Bitcoin (BTC) [cointelegraph.com]
The last week of February saw a blood bath across various asset classes on fears that the coronavirus outbreak is turning into a pandemic. This led investors to dump their positions in the equity markets, which wiped off about $3.8 trillion of value in U.S. stocks. Gold, which has acted as a traditional safe haven was not spared. The yellow metal plunged about 4.6% on Feb. 28, which took the weekly loss to about 5% for the week.
Analyst Who Called $6,400 Bottom: Bitcoin Is Soon to “Take Off” Towards $100,000 [newsbtc.com]
It goes without saying that Bitcoin’s price action over the past few days has shaken many digital asset investors in the industry.
The crash from $10,000 to $8,400 liquidated dozens of millions worth of leveraged positions, forcing many on the sidelines, data from Skew.com shows. And what’s more, fears of a steeper correction have grown, with BTC’s failure to bounce back suggesting to some that cryptocurrencies will fall even lower.
3 CRUCIAL REASONS WHY BITCOIN COULD SOON SURGE HIGHER FROM $8,500 [ethereumworldnews.com]
Firstly, Bitcoin’s 12-hour chart has purportedly started to print bullish divergences between the price and indicators like the Relative Strength Index (RSI). Bullish divergences — when the price of an asset trends lower as an indicator ticks higher — often resolve upwards, with the asset’s price catching up with the indicators in question.
Crypto traders report increased selling pressure ahead of Monday’s open [theblockcrypto.com]
- Crypto markets continued to trade in the red over the weekend
- Professional traders and investors reported “apathy” and increased selling pressure ahead of Monday’s trading session — which is expected to be volatile
- Driving the bearishness is new data out of China showing its manufacturing sector taking a big hit from coronavirus
Recent Gold Price Plunge Boosts Bitcoin’s Safe-Haven Stance [zycrypto.com]
Now, Gold has been hit hard as well as the Coronavirus fears intensify. The recent Gold crash is the biggest loss since 2013 and also throws some cold water on the idea that a safe-haven will always react positively in the face of economical adversity.
Bitcoin, on the other hand, has been trading sideways for the past 4 days between $8,455 and $9,000.
The next support after this sell-off is now standing at $8,200-8,400 and right here several horizontal levels are offering temporary help for the short-term rally. For some people, the short-term upward momentum is vanishing from the market. The reason is that the price value of the leading asset is recording a lower low at the moment on the daily timeframe.
Market Update: Coronavirus Fears, Stock Market Crash, and Bitcoin Price Predictions [bitcoin.com]
On Sunday, March 1, 2020, most digital currencies have been consolidating into a triangular pattern and a slew of assets have been forming firmer support zones. During the course of the last five weekdays, global stocks have crashed significantly. The crash has been widely blamed on the coronavirus (COVID-19) and stocks haven’t been routed this hard since 1987.
Top Cryptocurrency Events You Should Not Miss in March 2020 [coindoo.com]
SUNDAY DIGEST: BITCOIN PRICE CRASH AND OTHER NEWS [bitcoinist.com]
It’s been hard to avoid the coronavirus this week, at least in the news, as the US confirmed its first death this morning. If it turns into an all-out pandemic, you’ll be glad that you sealed yourself away and stocked up on bitcoin… you did do that, right?
XRP Price and Volume Linked to Twitter Activity, New Data Reveals [cointelegraph.com]
The number of tweets mentioning XRP has been relatively consistent over time with its yearly averages since 2018 is similar. In 2018, the average number of daily tweets mentioning XRP was 5,937 daily average tweets. While, in 2019, the average daily number of tweets reduced slightly to 5,364 tweets. However, January this year had a smaller average number of tweets (5,001 tweets) with a spike — 6,919 tweets — on Jan. 6, the day XRP price gained more than 12%.
THIS WEIRD FACTOR “MAY” SUGGEST ETHEREUM (ETH) IS ENTERING A BUY TERRITORY [ethereumworldnews.com]
DAI trades above peg whenever there’s large liquidations on ETH/DAI, demand for DAI. It will result in the SF going lower on MKR and represents a flushout of leveraged longs
However, some tokens have performed exceptionally well in the past month, including Kyber Network (KNC), Chainlink (LINK), Ethereum (ETH), Chinese Ethereum – NEM (XEM), and Hedera Hashgraph (HBAR), which experienced obscene recovery over the month.
A new report shows crypto whales are vital to the survival of blockchain-based gambling apps.
According to the crypto data company DappRadar, as much as 80% of the value flowing through a number of decentralized gambling apps on the Ethereum, EOS and Tron networks is coming from high-net-worth individuals.
The report also finds whales are extremely sensitive to new features on blockchain gambling apps and are quick to jump ship if the potential returns are tweaked.
WARNING! Don’t use 2FA on older smartphones [micky.com.au]
Security researchers at the RSA Conference in San Francisco this week warned against using mobile authentication apps on old smartphones.
Chief Security Officer of HighSide, Aaron Turner, and Chief Technology Officer of Shevirah, Georgia Weidman, emphasised that authentication apps like Google Authenticator or Authy were a lot better than SMS based 2FA which are vulnerable to SIM swap attacks, like the Chinese whale who lost $45 million in Bitcoin and BCH last week.
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