Markets

The Chinese crackdown on crypto continues to escalate with a new statement from the nation’s central bank banning more banks and payment providers from interacting with digital assets. CryptoPotato reported today that one of the country’s largest banks, the Agricultural Bank of China, had prohibited its clients from doing business with anyone even remotely connected to the crypto space. Although that had an immediate adverse effect on the market, with prices starting to...

Following a somewhat stagnant weekend in which BTC remained in a range between $35,000 and $36,000, the asset dumped to a two-week low of just over $32,000. Most alternative coins have performed even worse, with ETH plummeting beneath $2,000 for the first time since May. Altcoins in Red; ETH Below $2K Altcoins have been gradually declining in value for the past several days. Ethereum has been at the forefront as it traded well above $2,600 less than a week ago. However, the...

Stellar lumen price struggled to clear the $0.3500 resistance zone against the US Dollar. XLM price is now trading below $0.3000 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.3080 on the 4-hours chart (data feed via Kraken). The pair is likely to extend its decline as long as it is below the $0.3500 resistance level. Stellar lumen price is facing hurdles near $0.3200 and $0.3500 against the US Dollar,...

Ripple price is trading above the key $0.8050 support zone against the US dollar. The price is now well below $0.8000 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.8200 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could continue to move down below the $0.7200 and $0.7000 support levels. Ripple price is trading in a bearish zone below $0.80 against the US Dollar. XRP price...

Is bitcoin about to experience a “short squeeze?” According to many analysts, the answer is yes. A Short Squeeze Is in BTC’s Future, Analysts Say A short squeeze is when an asset that has been doing poorly suddenly skyrockets in price due to several traders making bets against it. As of late, the world’s number one digital currency by market cap has been trading in the doldrums, losing close to $30,000 off its price since reaching its latest all-time high of...

The S2F model is currently suggesting that, in the worst-case scenario, BTC will surpass $98K by November, which is highly optimistic given recent market developments. S2F’s Methodology & Accuracy Comparing Bitcoin to precious metals like gold and silver, PlanB has used statistics to outline a defined relationship between the value and scarcity of a given asset. The basic hypothesis is that the easier it is to produce a good, the harder it is for it to retain value,...

Tesla is going through a bit of a slow period right now, and according to analysts of Morgan Stanley, this may be because of Elon Musk and his obsession with bitcoin. Elon Musk Is Driving Tesla Shares Down Elon Musk has gone back and forth in recent months regarding the world’s number one digital currency by market cap. The South African entrepreneur sent the currency sky high in the month of February when he decided to purchase approximately $1.5 billion worth of the...

After several days of adverse price developments, bitcoin has calmed just over the $35,000 price tag. Most alternative coins, though, continue to register price losses, with ETH sliding to $2,200 again and XRP dumping by more than 5% in a day. Bitcoin Stalls Above $35K The workweek was going in bitcoin’s way for several days as it had spiked above $40,000 to a new 26-day high at $41,375 on Tuesday. As the community started preparing for another leg up that can take the asset...

The Q4 2019 and Q1 2020 crashes were both preceded by a death cross and signified that the tides in the market are about to shift in a big way. Why Does a Death Cross Work? The death cross indicator has been reliable in both the stock and crypto markets – it predicted 4 major crypto crashes, as well as the 1974 and 2008 stock market collapses. When a bull market ends, short-term momentum (indicated by the 50-day moving average line, or 50MA) starts to slow down. The Death...

Hedge fund CFOs expect the investment trends to change in the next few years, including adding cryptocurrencies to their portfolios. A recent study revealed that they are significantly more willing to enter the digital asset market as one in six anticipate a 10% or higher allocation. Hedge Funds to Enter the Crypto Space? Cryptocurrencies have been regarded as a rather speculative form of investment for years, but the COVID-19 pandemic and the world governments’ actions...