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Ether Shorts Hit Another Record High as Price Sinks

Ether Shorts Hit Another Record High as Price Sinks

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Ether Shorts Hit Another Record High as Price Sinks There seems to be no end in sight for the sell-off in ether markets, as the number of short orders placed on the second-largest cryptocurrency by market capitalization hit a fresh record high on Wednesday. The ETH/USD shorts on Bitfinex exchange clocked a new high of 248,247, beating the previous record high of 247,611 set last Friday. Looking at the data from a different angle, these bearish bets have risen by more than 200 percent in the past four weeks. ETH/USD shorts The extreme negative positioning – as seen in the chart above – usually results in a sharp move on the opposite side, popularly known as "short squeeze". Further, the stage looks set for profit taking (unwindin
Below $50: Litecoin Price Clocks 12-Month Low

Below $50: Litecoin Price Clocks 12-Month Low

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Please share if you find this article interesting. Below $50: Litecoin Price Clocks 12-Month Low The price of litecoin (LTC) hit a 12-month low below $50.00 on Wednesday. The world's seventh largest cryptocurrency by market capitalization sank to $47.67 at 10:34 UTC – its lowest price since September 22, 2017. LTC was last seen at $49.08, down more than 8 percent on the day, according to CoinMarketCap. Notably, LTC is the second biggest loser among the top 10 cryptocurrencies by market cap, reporting a 22.5 percent loss week-on-week. Further, it is down 86 percent from its all-time high of $344 set last December. Other cryptocurrencies are also reporting sharp losses today. For instance, ether (ETH), bitcoin cash (BCH) and monero (XMR) are all posting 24-hour losses above 9 per
Bitcoin Price Charts Hint at Recovery Rally Above $6.4K

Bitcoin Price Charts Hint at Recovery Rally Above $6.4K

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Please share if you find this article interesting. Bitcoin Price Charts Hint at Recovery Rally Above $6.4K Bitcoin (BTC) could witness a minor corrective rally if the bulls' persistent defense of key support leads to a break above the resistance at $6,400, technical charts indicate. The leading cryptocurrency suffered a downside break of the symmetrical triangle in the early U.S. session yesterday, signaling a revival of the sell-off from the recent highs above $7,400. Further, the bearish pattern bolstered the already negative setup, as represented by the rising wedge breakdown and the pennant breakdown on the line chart. As a result, BTC was looking likely to test $6,000 (February low) before the UTC close yesterday. Instead, it bounced back from $6,170 — the support of the tre
Is Bitcoin Charting a 2015-Style Price Bottom?

Is Bitcoin Charting a 2015-Style Price Bottom?

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Please share if you find this article interesting. Is Bitcoin Charting a 2015-Style Price Bottom? Bitcoin's price action this year may be dismal, but it might not be without precedent. Having hit a record high near $20,000 in December, the world's largest cryptocurrency began 2018 backed a wave of optimism. Since then, however, it hasn't translated this into gains for investors. Rather, the price appears to be following a pattern last seen ahead of a bullish reversal from September 2015. Why is that important for traders now? When the bull market ended last time around, we saw a violent drop in price whereby bulls were unable to produce any significant highs over the course of the year. Comparing 2018 to 2015, there are other subtle similarities to draw on for analysts. In both
Bitcoin Price Awaits Next Move as Trading Range Narrows

Bitcoin Price Awaits Next Move as Trading Range Narrows

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Please share if you find this article interesting. Bitcoin Price Awaits Next Move as Trading Range Narrows Bitcoin (BTC) is being squeezed into a tight trading range with neither bulls nor bears having the upper hand, and a decisive move either way will likely set the tone for the next trend going forward. At press time, BTC is changing hands at $6,320 on Bitfinex, representing a 0.5 percent gain on a 24-hour basis. The $1,000 drop witnessed during a 24-hour period in the middle of the last week titled the tide in favor of the bears. As a result, the cryptocurrency was facing a risk of a drop to $6,000 over the weekend. But the sell-off unexpectedly ran out of steam at a low of $6,119 on Saturday. More importantly, the cryptocurrency has printed higher price lows in the last four
Back Below $200 Billion: Crypto Market Cap Sinks to 10-Month Low

Back Below $200 Billion: Crypto Market Cap Sinks to 10-Month Low

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Please share if you find this article interesting. Back Below $200 Billion: Crypto Market Cap Sinks to 10-Month Low The total market capitalization for all cryptocurrencies fell to its lowest point in over 10 months on Saturday. The development followed a particularly bearish week for the broader cryptocurrency market. Bitcoin (BTC), the world's largest cryptocurrency dropped over $1000 on Sept 5. and Ether (ETH), the world's second largest cryptocurrency, fell to its lowest level in over 12 months. The bearish milestones were among many others, causing the total market capitalization to shed nearly $44 billion since the start of last week to reach $191.1 billion on Sept 8. – its lowest value since November 2, 2017. At press time, the figure has risen slightly and is currently
Bitcoin Retains Bear Bias Despite Recovery From 25-Day Low

Bitcoin Retains Bear Bias Despite Recovery From 25-Day Low

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Please share if you find this article interesting. Bitcoin Retains Bear Bias Despite Recovery From 25-Day Low Bitcoin's (BTC) recovery from 25-day lows seen over the weekend has done little to alleviate the near-term bearish bias, technical studies indicate. The leading cryptocurrency fell to $6,119 on Bitfinex on Saturday – the lowest level since Aug. 14 – bolstering the bearish setup established by a sudden $1,000 drop witnessed during a 24-hour period in the middle of the last week. However, the drop to 3.5-week lows also pushed the intraday relative strength index (RSI) into oversold territory below 30.00. As a result, the sell-off has stalled in the last 36 hours, although corrective rallies have been shallow. Notably, the cryptocurrency's failure to scale $6,400 in a convin
WeChat Now Censoring Bitmain and Crypto Price Prediction Accounts

WeChat Now Censoring Bitmain and Crypto Price Prediction Accounts

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Please share if you find this article interesting. WeChat Now Censoring Bitmain and Crypto Price Prediction Accounts The WeChat messaging app is continuing its efforts to block official accounts that involve cryptocurrencies, now targeting those that distribute content for sales of bitcoin miners and cryptocurrency market analysis. The official sales channel of bitcoin mining giant Bitmain, which has the WeChat ID "antminersale," appears to be blocked on Monday. As of press time, searching for content previously distributed by the account leads to a page that says it has violated relevant rules. The notice states: "Following users' complaints, the platform [WeChat] has reviewed and discovered that this account – without having acquired authorized credentials or licenses – has be
Crypto Trading 101: The Moving Average Crossover

Crypto Trading 101: The Moving Average Crossover

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Please share if you find this article interesting. Crypto Trading 101: The Moving Average Crossover New to crypto trading? Read CoinDesk's full set of guides. If simple moving averages are your game as a crypto-trader, it's time to take it to the next level for this week's Crypto 101 guide.  Last time, we discussed simple moving averages (SMAs), and in this segment, we will look at a strategy utilized by the moving-average elite – the "crossover". By now you should have learned how moving averages function, their specific purpose and the strategy used to determine if the trend is actually at an end or about to make a reversal. If not, then you should take some more time to study,  getting to know the various ins and outs of SMA's on different time frames. Moving on, the SMAs we
This Tech Lets You Send Any Cryptocurrency to the Lightning Network

This Tech Lets You Send Any Cryptocurrency to the Lightning Network

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. This Tech Lets You Send Any Cryptocurrency to the Lightning Network Did you know? Lightning addresses and bitcoin addresses are not compatible. What that means is that a user can't send money from their lightning address directly to a recipient bitcoin address, or vice versa, without going through an additional step to transferring their lightning funds into a bitcoin account of their own. Seems counterintuitive, especially since the layer-two technology for transacting off-chain, is touted as a way to revolutionize the protocol to scale – more users and more transactions. And yet, there's this incompatibility between new off-chain lightning transactions and old-school on-chain bitcoin ones. One developer, though, has been workin