Markets

A senior analyst at RoboForex shares his insights into the future scenarios for Bitcoin, Ethereum, Litecoin, EOS and Bitcoin Cash price movement.Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos.The cryptocurrency market is correcting before another descending wave. In the past, Bitcoin didn’t start rising aggressively after the halving, on the opposite, it...

RAKBANK announced the expansion of RAKMoney Transfer (RMT) services using Ripple blockchain technology RippleNet. The new service will be used along the Bangladeshi corridor by partnering with Bank of Asia.Ripple Labs is living up to its promise of reducing the sale of XRP to focus on utility and its product-market expansion in 2020 and beyond. It was confirmed after RAKBANK announced that it will be leveraging RippleNet blockchain technology in an instant remittance solution to Bangladesh...

A new product on the Ripple network would not only reduce the time required to avail capital loans but also improve transparency between the parties involved.The company behind the blockchain payment protocol and exchange network Ripple seems to be working on a new loans product. Recently, the company posted a new job offering on its website, which allows for such a conclusion. Ripple is looking for a Director of Product Management, Loans and will welcome someone with strong leadership skills...

Phemex, a cryptocurrency exchange, has launched a premium membership program that allows zero-fee spot trading starting from May 15th, 2020. Users will be able to trade as much as they want without incurring additional fees as long as they purchase a Premium membership.. Moreover, all current users of the exchange will receive a 7-day Premium membership trial. Zero-Fee Cryptocurrency Spot TradingPhemex exchange is the first one in the derivatives and spot market to offer zero-fee trading on...

Tesla (TSLA) stock price fell slightly yesterday as the automaker reopened its Fremont factory despite lockdown orders.Tesla Inc (NASDAQ: TSLA) stock price fell by 0.23% yesterday. As at the time of filing this report, in the pre-market, Tesla (TSLA) stock price was at $824.25 (1.83%). These movements in stock prices come at a time when Tesla CEO Elon Musk made the decision to reopen the Fremont factory in California.Sources say that despite instructions from health authorities, Tesla’s...

The Ethereum blockchain is suffering a period of heavy congestion, partly caused by what appears to be a Ponzi scheme. Thousands of transactions are being pinged all across the network—all leading to a single address, which now holds $5.3 million worth of Paxos Standard (PAX) tokens.That address belongs to the operators of MMM Global – a multi-level marketing scheme that offers 1% returns on investment per day. Targets are urged to contract more people into the scheme, with the promise of...

ADA price is trading in a positive zone above the $0.0450 support against the US Dollar.The price is likely to surpass the $0.0520 and $0.0540 resistance levels.There is a key contracting triangle forming with resistance near $0.0520 on the 4-hours chart (data feed via Kraken).The price could dip a few points, but it is likely to remain well bid above the $0.0450 support.Cardano price is showing a few positive signs above $0.0480 against the US Dollar, similar to bitcoin. ADA price must climb...

Bitcoin price started a strong downside correction from the $10,069 high against the US Dollar.It is currently consolidating above the $8,400 and $8,250 support levels.There is a crucial bullish trend line forming with support at $8,410 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).The pair could start a fresh rally if there is a clear break above $9,120 and $9,180.Bitcoin price is currently consolidating losses above the $8,400 support against the US Dollar. BTC is...

Is it possible that the coronavirus pandemic has managed to help bitcoin in the long run?The Coronavirus Has Served a Loft Purpose, in a WayWhile the virus ultimately caused bitcoin to lose most of its value in mid-March of this year, those losses have largely been earned back. In addition, the Fed has resorted to the excess printing of money and the release of stimulus funds to assist people as they deal with a flailing economy and an illness that very few people really seem to understand....

The halving has come and gone, but for some analysts, the mystery is still up in the air, and several people are wondering what the event will produce.What Will Happen Now That the Halving Is Over?For some, the news of the halving doesn’t mean much, and they predict that bitcoin will remain relatively unaffected in the short run. However, they do believe that things could ultimately turn uber-bullish in the coming months. This is a sign of bitcoin’s potential growth and maturity.Garrick...