Friday, May 29Your Daily Bitcoin & Altcoin News Portal

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Analyst Who Called Bitcoin Drop to $3,000s Expects Another Brutal Bear Market

Analyst Who Called Bitcoin Drop to $3,000s Expects Another Brutal Bear Market

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Please share if you find this article interesting. Analyst Who Called Bitcoin Drop to $3,000s Expects Another Brutal Bear Market Bitcoin has rallied strongly since the $3,700 lows established in March. From the bottom of the crash, the cryptocurrency is now up just shy of 150%.Although this upswing has convinced many in the industry that the bear market is over, some beg to differ. Prominent analysts and commentators say that the cryptocurrency has a chance at retesting the $3,000s.Backing this prediction, they cite simple technical factors and the looming specter of a deeper recession in the global economy.Related Reading: Crypto Tidbits: Satoshi Isn’t Dumping His BTC, China ‘Bans’ Cryptocurrency MiningBitcoin Poised to Plunge Towards $3,000sEarlier this year, a prominent trader
Ethereum is Ready For Heavy Volatility, And Analysts Predict a Big Rally

Ethereum is Ready For Heavy Volatility, And Analysts Predict a Big Rally

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Please share if you find this article interesting. Ethereum is Ready For Heavy Volatility, And Analysts Predict a Big Rally It’s been a quiet past few days for Ethereum and the rest of the crypto market.After last week’s correction, prices have settled. ETH is trading about 10% lower than its May highs, which is about the same performance assets like Bitcoin.Analysts have begun to bet that second-largest cryptocurrency is primed to see some upside as the technical and fundamental case for the asset has improved.Related Reading: Crypto Tidbits: Satoshi Isn’t Dumping His BTC, China ‘Bans’ Cryptocurrency MiningEthereum Market Volatility Is ComingThe past few days have seen Ethereum contract around $200 to trade within an extremely tight range of 5% to the upside and downside.One pro
This Cryptocurrency Is Up 260% and It Seems to Have More Gas in the Tank

This Cryptocurrency Is Up 260% and It Seems to Have More Gas in the Tank

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Please share if you find this article interesting. This Cryptocurrency Is Up 260% and It Seems to Have More Gas in the Tank Ever since Coinbase Pro revealed that it will be listing OmiseGO on its retail platform, this ERC-20 token has done nothing but shoot up. Since then, its price skyrocketed by more than 260%. OMG went from trading at a low of $0.62 to a new yearly high of $2.27.Even though this cryptocurrency took a 30% nosedive in the past week, on-chain metrics reveal that the bullish momentum behind may not be over yet.is OmiseGo Bound for Another Upswing?Data from Santiment reveals that a bullish divergence appears to be developing between the number of daily active addresses on the OmiseGo network and the 21-day moving average. It is worth considering that the recent lev...
Bitcoin Jumps $9,100 as Dow Prepares For Massive 400-Point Open

Bitcoin Jumps $9,100 as Dow Prepares For Massive 400-Point Open

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Please share if you find this article interesting. Bitcoin Jumps $9,100 as Dow Prepares For Massive 400-Point Open Bitcoin breaks above $9,100 hours ahead of New York opening bell.The gains surfaced as the futures linked to Dow Jones suggested a 400-point rally after Wednesday’s open.Investors also felt buoyed by Goldman Sachs’s early morning call with clients on Bitcoin.Bitcoin closed above $9,100 in a surprising upside move after trading sideways for the entire Asian and early European trading session Wednesday.The benchmark cryptocurrency BTCUSD rises 4 percent in just three hours | Source: TradingView.com, CoinbaseBitcoin’s gains also followed a 10 percent downside correction after it failed to break above $10,000. That left the cryptocurrency under the risks of continuing it
Three Crucial Reasons Why Bitcoin Is Ready to See a Sharp Rally After 15% Drop

Three Crucial Reasons Why Bitcoin Is Ready to See a Sharp Rally After 15% Drop

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Please share if you find this article interesting. Three Crucial Reasons Why Bitcoin Is Ready to See a Sharp Rally After 15% Drop Bitcoin has been subject to troubling price action over the past week.Since the May highs of $10,000 established in the wake of the halving, the cryptocurrency has been in a clear downtrend, with BTC now trading at $8,800 as of the time of this article’s writing. At the local lows, Bitcoin traded as low as $8,600 on some exchanges — approximately 15% shy of the highs.It should come as no surprise that some have taken the recent price action as a death knell for Bitcoin’s bull trend, which began in March when the asset rallied strongly off the $3,700 lows. Yet the bearish trend may soon come to an end.Related Reading: Crypto Tidbits: Satoshi Isn’t Dumpi
Ethereum Showing Early Signs of Strong Recovery But 100 SMA Is The Key

Ethereum Showing Early Signs of Strong Recovery But 100 SMA Is The Key

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Please share if you find this article interesting. Ethereum Showing Early Signs of Strong Recovery But 100 SMA Is The Key Ethereum is holding the main $200 and $198 support levels against the US Dollar. ETH price is currently testing the 100 hourly SMA and struggling to continue higher above $205.Ethereum is facing a strong resistance near the $205 level and the 100 hourly SMA.The price is likely to accelerate higher if it breaks the $205 resistance zone.There was a break above a key bearish trend line with resistance near $202 on the hourly chart of ETH/USD (data feed via Kraken).The pair might decline again towards $200 or $198 if it fails near the 100 hourly SMA.Ethereum Price Testing 100 Hourly SMAEthereum price Ethereum PriceThe 50% Fib retracement level of the key decline f...
Bitcoin Plunge To $8,200 Seems Likely, As Technical Indicators Turn Red

Bitcoin Plunge To $8,200 Seems Likely, As Technical Indicators Turn Red

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Please share if you find this article interesting. Bitcoin Plunge To $8,200 Seems Likely, As Technical Indicators Turn Red Bitcoin is trading in a bearish zone below $9,000 against the US Dollar. BTC price is likely to accelerate lower if it breaks the $8,680 and $8,600 support levels.Bitcoin is declining and trading well below the key $9,100 pivot level.The price is likely to continue lower towards the $8,400 and $8,200 support levels.There is a major bearish trend line forming with resistance near $8,910 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair could only avoid losses if it gains bullish momentum above $9,000 and $9,100.Bitcoin Turns RedBitcoin price remained well bid above the $8,680 support and recently corrected higher against the US Dollar. B...

Ethereum Investors Appear to FOMO as Speculation Mounts Around ETH 2.0

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Please share if you find this article interesting. Ethereum Investors Appear to FOMO as Speculation Mounts Around ETH 2.0 The upcoming launch of Ethereum 2.0 has investors and market participants alike speculating whether Ether is preparing for a moonshot. After the most recent correction that saw prices plummet to $191, many have claimed that the smart contracts giant hit market bottom.Santiment, a behavior analytics platform, noticed that some Reddit users are becoming overwhelmingly bullish, and FOMO seems to be building up. The firm was able to collect some of the most popular comments on the social network, which include:“Y’all got anymore of that $200 ETH? My funds just cleared and I wanted to buy right at the line.”Bullish Comments About Ethereum Emerge in Reddit. (Source:
Ethereum Close Below $200 Would Make Case for Larger Decline

Ethereum Close Below $200 Would Make Case for Larger Decline

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Please share if you find this article interesting. Ethereum Close Below $200 Would Make Case for Larger Decline Ethereum is struggling to break the $205 and $210 resistance levels against the US Dollar. ETH price is currently declining and it remains at a risk of a larger decline below $200.Ethereum is facing a strong resistance near the $204 and $205 levels.The price might continue towards the $192 support if it fails to stay above $200.There is a key contracting triangle forming with resistance near $204 on the hourly chart of ETH/USD (data feed via Kraken).The pair must climb above $205 and $210 to decrease chances of a larger decline in the near term.Ethereum Price Could Extend Its DeclineEthereum price found support near the $198 level after a sharp decline from the Ethereum...

Bitcoin Price Crosses $9,000: Two Key Reasons Why This Rally Isn’t Sustainable

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Please share if you find this article interesting. Bitcoin Price Crosses $9,000: Two Key Reasons Why This Rally Isn’t Sustainable After trading below $9,000 for over a day, Bitcoin finally pushed past that level just minutes ago. BTC has not seen a massive rally from the weekly lows of $8,600, but $9,000 is a key technical and psychological resistance, analysts say, making the reclamation of the level that much more notable.Bitcoin price chart from TradingView.com.It’s been a slow rally for Bitcoin since the $8,600 lows, hence few positions have been liquidated on BitMEX.According to crypto derivatives tracker Skew.com, approximately $2 million worth of BitMEX short positions have been liquidated on this swing higher. $2 million may sound like a lot, but it isn’t in a market with