Markets

Digital currency research firm Coin Metrics has released a new report claiming that bitcoin is beginning to lag when compared with the likes of competing altcoins such as Ethereum and Dogecoin. Coin Metrics: Altcoins Are Taking Over While bitcoin is still the world’s number one digital currency by market cap (it is currently trading for about $35,000 per unit), the asset has experienced some serious dips over the past month, while by contrast, Dogecoin and Ethereum have...

ETH/USD – Market Falls Beneath 100-day MA Key Support Levels: $2330, $2250, $2200. Key Resistance Levels: $2470, $2600, $2720. ETH failed to break the 50-day MA around $2890 at the start of June and, unlike bitcoin, ETH has been consistently dropping since. On Friday, ETH slipped beneath support at $2470 (.382 Fib) and slumped below the 100-day MA to find support around $2330 (.5 Fib). On the short-term charts, an ascending trend line provides support for the ETH/USD market....

After yesterday’s price declines, bitcoin has calmed around the $35,000 price line. Most alternative coins are also somewhat stagnant on a 24-hour scale, aside from Polygon (MATIC). The asset has spiked by double-digits to $1.4. Minor Recoveries Among Alts: Polygon 15% Up The weekend didn’t start all that well for the altcoins market. The biggest altcoin, Ethereum, had already retraced from $2,600 to $2,500 before it went even further south to $2,250. Since then, ETH found...

Kevin O’Leary – aka Mr. Wonderful on the television show “Shark Tank” believes that bitcoin could eventually overpower the stock market. Kevin O’Leary: Sustainability Will Make a Big Difference His sentiment comes from the sudden shift that many bitcoin miners are making. Initially, bitcoin was the subject of much concern and disgust amongst environmentalists, who claimed that the extraction process behind bitcoin was contributing to severe atmospheric destruction....

Nearly half of the young investors with at least $1 million in their portfolio responded that they had located a large share of their funds in cryptocurrencies. Older generations, though, prefer fiat money. Crypto Is a Trend among The Millennials According to a CNBC survey with 750 participants, almost 50% of millennial millionaires have invested at least 1/4 of their wealth in cryptocurrencies. In comparison, more than 30% of them have located at least half of their assets...

The CEO and founder of Barstool Sports – Dave Portnoy – admitted that at the beginning, he thought Bitcoin was a ”Ponzi scheme.” Eventually, he changed his stance and even opposed Donald Trump, who called the primary cryptocurrency a ”scam.” Trump Is Wrong In a recent interview for ”Varney & Co,” the founder of Barstool Sports – Dave Portnoy – shared his current view on bitcoin and the crypto market. He revealed that years ago, when the primary digital asset was...

After riding high for a few days, the bitcoin bears have regained control and pushed down the asset by a few thousand dollars to around $35,000. Most alternative coins have suffered even more severely, with ETH down to $2,300 and BNB to $330. Bitcoin Falls to $35K Bitcoin performed rather well in the past few days following bullish news from El Salvador, India, and some large corporations wanting to get a piece of the cryptocurrency pie. BTC spiked to a six-day high at...

President Donald Trump is in the news after spending a few months out of the limelight. In a recent interview, Trump took aim at bitcoin, the world’s number one digital currency by market cap, calling it a “scam” and saying that it was a threat to the U.S. dollar. Donald Trump Believes BTC Is a Scam In the interview, Trump says the following: Bitcoin, it just seems like a scam. I do not like it because it is another currency competing against the U.S. dollar. He went on...

Crypto analyst Mike McGlone is predicting that Ethereum, at some point, will likely eclipse bitcoin and become the number one digital currency by market cap. Mike McGlone Thinks Highly of Ethereum As a senior commodity strategist for Bloomberg, McGlone has been following cryptocurrencies for a long time just like the rest of us. In a new report, he details why Ethereum – still only the second largest digital currency in the world at the time of writing – could...

Kraken is reevaluating its plans on how to go public next year after Coinbase’s unimpressive performance, said the exchange’s CEO – Jesse Powell. Instead of taking its competitor’s method of a direct listing, Kraken could go down the initial public offering road. Kraken Rethinks Going Public Plans The largest US cryptocurrency exchange – Coinbase – made the news in mid-April when it became a publicly-traded company after a direct listing on Nasdaq. The move, perceived by many...