Markets

Bitcoin cash price declined heavily below $500 and $450 against the US Dollar.The price is holding the key $400 support, but it is well below the 55 simple moving average (4-hours).There was a break below a major bullish trend line with support near $490 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase).The pair is likely to recover sharply as long as it is above the $400 and $385 support levels.Bitcoin cash price is down over 20% from well above $500 against the US Dollar,...

Bitcoin and crypto markets are bleeding out this Friday morning as the selloff which initiated on Thursday, January 21, has continued with fervor into the Asian trading session.Bitcoin has shed a whopping $6,500 since the same time yesterday as it dumped to $29,000. The intraday high for BTC was $35,500 according to Tradingview, and it has currently reclaimed the $30k level.Chart – Tradingview.comFirst 30% Correction In 2020-2021 Bull RunSince its all-time high of $42,000, which was recorded...

2020 was an exciting year for crypto, but 2021 will reshape the Fintech landscape by incorporating financial transactions of different virtual currencies.The Fintech-crypto duo is reshaping the landscape of technological advancements in this modern era of digitization and more enhanced cyberspace is likely to take us towards an unpredictable future.More than $23,000 virtual currency trades in December 2020 depicts that the blend of Fintech and cryptocurrency will continue to grow with the...

Analysts at JP Morgan have argued against Bitcoin’s (BTC) value proposition as a competitor to gold, saying the largest crypto by market capitalization is not a suitable hedge during periods of market uncertainty.Bitcoin is Least Reliable as a Hedge During Market CrunchesAccording to Bloomberg, JP Morgan strategists John Normand and Federico Manicardi have issued a report classifying Bitcoin more as a risk-on asset than as a hedge against market uncertainties. As part of their analysis, the...

Paypolitan is expected to provide TenX users a product that will seamlessly satisfy their needs.According to industry sources, the Estonian fintech Paypolitan (Paypolitan.io) is planning a takeover of Singaporean fintech TenX. TenX, once a shooting star in the crypto world, raised USD 80 million through an ICO in 2017 and reached a market cap of over USD 500 million in early 2018. After losing the Visa card supplier Wavecrest, 200 000 TenX clients got their cards blocked overnight. Beginning...

Guggenheim’s Scott Minerd has confirmed the firm’s exposure to Bitcoin, following the filing with the Securities and Exchange Commission (SEC) to “seek investment exposure to Bitcoin through Grayscale’s Bitcoin Trust product”.Guggenheim’s Chief Investment Officer (CIO) Scott Minerd believes that the ongoing bearish trend of Bitcoin (BTC) may pull it back to the $20,000 level in the near term. The projection from Guggenheim’s Scott comes amid the failure of the Bitcoin market bulls to regain...

Silvergate reported strong growth in terms of digital currency customers’ increase last year along with the surge in deposits. The bank is planning to explore other facets and opportunities in the market this year in 2021.On Wednesday, January 20, crypto bank Silvergate Capital Corporation announced stellar Q4 2020 earnings beating street estimates. The crypto bank reported a net income of $9.1 million (or $0.47 per diluted share) against the net income of $7.1 million in Q4 2019.Compared to...

Qualcomm’s market share in China fell to 25.4% in 2020 versus 37.9% in 2019.The stock of American giant chipmaker Qualcomm Inc (NASDAQ: QCOM) was trading around $166.84, up 1.36% during Thursday’s pre-market. QCOM stocks had closed yesterday trading at $164.60, after adding approximately 0.51% during the day.The upward volatility is primarily attributed to the huge demand for electronics amid the coronavirus crisis. As more people shift to remote learning and working, there has been a notable...

The last 24 hours have been undoubtedly going in favor of the bears. That’s according to data concerning the total liquidated positions in the past day as Bitcoin’s price is seemingly headed towards $30,000.In less than a day, the cryptocurrency derivatives market saw a total of $900 million worth of both long and short positions liquidated.Given the nature of the market, it’s no surprise that most of the volume comes from liquidated long positions, which account for 80.77% of all or roughly...

EOS remained in a range below the $2.950 and $3.000 resistance levels against the US Dollar.The price is currently trading near the $2.720 support and the 55 simple moving average (4-hours).There is a major ascending channel forming with support near $2.700 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).The pair could start a strong rally if it clears the $2.950 and $3.000 resistance levels.EOS price is trading in a key range below the $3.000 resistance against the US...