Crypto news

Janet Yellen, the recently-appointed Secretary of the US Treasury, doubled-down on her belief that BTC is frequently used in illicit transactions, while it fails as an efficient form of payment.Interestingly, her comments came as the price of the asset slumped by more than $11,000 in a day to below $48,000.Yellen On Crypto And BTC’s InefficiencyWhile speaking at the DealBook DC Policy Project, an event moderated by the New York Times, Yellen commented on the steep road the US has to face in...

ETH/USD – Market Rolls OverKey Support Levels: $1760, $1681, $1600.Key Resistance Levels: $1875, $1960, $2000.Ethereum suffered a steep 10% price drop today as it plummets into the $1760 level. The cryptocurrency has been trading within an ascending price channel for the entire period of 2021.ETH had pushed higher over the weekend as it managed to break resistance at $2000 and reach the upper boundary of the price channel. Unfrotenutaly, the bulls could not close a daily candle above...

The cryptocurrency market went through a correction today as the total capitalization saw about $90 billion wiped off in a matter of hours. This happened as Bitcoin lost around $5000 of its value while the majority of the altcoins followed through with sizeable losses on their own.The cryptocurrency market was due to a correction, according to many analysts, and it appears that one may have just taken place.Bitcoin lost around $5,000 of its value in a matter of hours, bringing the entire...

North America’s first Bitcoin exchange-traded fund (ETF) has seen impressive results on its first two days of trading, following its recent approval by Canada’s securities regulatory body.Purpose Bitcoin ETF started on a flying note shortly after it began trading on Thursday (Feb. 18, 2021) under the ticker symbol “BTCC” on the Toronto Stock Exchange (TSX).Following its TSX debut, the fund has already accumulated $421 million in assets within the first two days of trading.According to...

JPMorgan strategists have supported the narrative that Bitcoin is in a liquidity crisis. However, instead of highlighting it as a potential catalyst for further price increases, they warned that the asset could experience a sharp price drop just as quickly. The primary cryptocurrency reached yet another record during the weekend with a new all-time high of $58,400 (on Bitstamp). However, the price corrected somewhat sharply, and BTC lost over $4,000 of value in a matter of hours and dipped to...

Stellar lumen price failed to settle above $0.5500 and corrected lower against the US Dollar.XLM price is now trading well below $0.5200 and the 55 simple moving average (4-hours).There was a break below a major bullish trend line with support near $0.5000 on the 4-hours chart (data feed via Kraken).The pair could continue to move down towards the $0.4400 and $0.4200 support levels.Stellar lumen price is correcting gains below $0.5000 against the US Dollar, while bitcoin remains strong. XLM...

Ripple, the company behind one of the world’s largest cryptocurrencies, XRP, has registered an entity in the state of Wyoming. This follows a clash between the company and the United States Securities and Exchange Commission (SEC). Nevertheless, the price for XRP has surged by about 15% today after Caitlin Long broke the news on Twitter.Ripple Goes to WyomingWyoming is one of the states in the US which is known for its hard work towards creating a friendly cryptocurrency regulation framework....

Ripple price failed to extend gains above the $0.5800 resistance level against the US dollar.The price is now trading well below the $0.5500 zone and the 55 simple moving average (4-hours).There is a key bearish trend line forming with resistance near $0.5550 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).The pair is likely to continue lower towards the main $0.4650 support zone in the near term.Ripple price is struggling to settle above $0.5200 against the US Dollar. XRP...

Bitcoin may be hogging all the spotlight as of late, but we cannot discount some of the smaller competing altcoins that also call the crypto space home. One of those altcoins is Ethereum, the second-largest cryptocurrency by market cap and the number one competitor to bitcoin. At the time of writing, Ethereum has hit a new all-time high of more than $1,900 per unit, and the asset appears to be on a serious roll.Ethereum Has Surged Like No Other CoinBitcoin doing well is typically good news...

Bitcoin surged by a solid $2,500 so far today, gaining almost 5% in value. This allowed the cryptocurrency to break resistance at $56K, surpassing $58K to set a new all-time high.The primary cryptocurrency had been trading within an ascending price channel for the entire month of February. On Friday, Bitcoin had surged by 8.5% as it broke past the previous resistance at $52,365 to smash the upper boundary of the marked price channel, reaching the resistance level at $56,112 (1.414 Fib...