Altcoins

Bitcoin tried its hand at taking down $20,000 yesterday once again, but, just like it happened earlier this week, it was stopped and dropped by almost $1,000. Most larger-cap altcoins are slightly in the red now, while there are some gains from the mid-cap ones. Bitcoin Rejected at $20K Once More Bitcoin had a significantly less volatile week than the previous one when the US Federal Reserve’s actions pushed it south to a three-month low at $18,100. The asset recovered some...

Unlike the previous week, which was full of volatility, the past seven days were quite more stagnant in the cryptocurrency space. Bitcoin, for one, had calmed around $19,000 after the most recent price drops and spent the weekend as well as Monday at that level. The situation changed on Tuesday when it initiated an impressive leg up, resulting in a price surge to over $20,000 for the first time in 12 days. However, the bears tightened their grip on the market and pushed the...

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Bitcoin cash is attempting a fresh increase from the $110 zone against the US Dollar. The price is now trading above the $115 zone and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $118 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair must clear $118 and $120 to continue higher in the near term. Bitcoin cash price is climbing above $115 against the US Dollar, similar to bitcoin....

On September 29, Gemini co-founder Tyler Winklevoss published a proposed “marketing incentive” on the MakerDAO forum to drive the adoption of his stablecoin GUSD through a three-month strategic plan. According to Tyler Winklevoss’ proposal, Gemini will pay monthly fixed annual interest of 1.25% on all the GUSD stored in MakerDAO PSM vaults, as long as the average monthly balance is at least 100 million GUSD by the end of the month. “As we’d like GUSD usage to increase...

Mhel Plabasan – a top executive at Bangko Sentral ng Pilipinas (the central bank of the Philippines), said the institution is highly in favor of stablecoins as they can aid the monetary system and ensure “affordable and faster” cross-border transactions. The organization also plans to launch a pilot version of its CBDC by the end of 2022. On that note, it is worth noting that the central banks of Israel, Norway, and Sweden collaborated with the Bank for International...

EOS price started a fresh decline from the $1.40 resistance against the US Dollar. The price is now trading below $1.25 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $1.170 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could start a fresh increase if it stays above the $1.140 and $1.1020 support levels. EOS price is struggling below $1.40 against the US Dollar, similar to...

Litecoin is facing a major resistance near the $55 zone against the US Dollar. LTC price is now trading near $53.50 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $54.25 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could start a decent upward move if it clears the $54.25 and $55 levels. Litecoin price is struggling below $55 against the US Dollar, similar to bitcoin. LTC price...

The Fed has been in the news quite a bit as of late. At the end of August, the agency stirred controversy when Jerome Powell gave a five-minute speech talking about more rate hikes. Naturally, crypto fans throughout America got extremely worried about what could happen to their assets, which have been falling in price thanks to ongoing rate hikes from the Fed. The Fed May Wind Up Helping BTC However, some analysts now believe that the Fed could potentially contribute to...

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