Markets

Ripple price declined heavily from well above the $1.800 level against the US dollar. The price is now trading below the $1.20 support and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $1.155 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could start a major increase if there is a clear break above $1.155 and $1.160. Ripple price is attempting a recovery from $0.885 against the US...

Bitcoin closed the week with the second-largest red candle in its entire history, testing lows near the $47k price zone following an ATH of $64K recorded in the previous week. Overall, this was a tough week for markets across the board. From stocks to cryptocurrencies, traders experienced an episode of collective panic marked by the rumor that Joe Biden would be preparing a bill to increase capital gains taxes by almost 100% for all those generating more than $1 million in...

The bears continue to rule over the crypto markets. Most alternative coins have lost substantial chunks of value in the past 24 hours, with ETH below $2,200 and BNB beneath $500. Bitcoin’s brief spike above $50,000 was also unsuccessful, and the asset trades south of that coveted level. Red Dominates the Altcoins Aside from several brief recovery attempts, the altcoin market has suffered in the past few days. Ethereum went on to register a new all-time on Thursday at $2,650...

Bitcoin’s price has been declining in the past few days, being almost 20% down during the last week. This saw many people worried if the 2021 bull run is over. One indicator suggests that if history is to repeat itself, the price should continue its upward trajectory following the most recent crash. Bitcoin saw a serious decline over the past few days as the price lost upwards of $12,000 over the previous week. This has also seriously shifted the overall sentiment, as...

Paxos hopes to be at the forefront of that wave of regulation and the recently gained approval is one more step along that road. The crypto giant Paxos received preliminary conditional approval from the US Office of the Comptroller of Currency (OCC) on Friday. Paxos joins Anchorage and Protego in holding a federal banking charter, which allows them to carry out custodial and management services for digital assets, stablecoin reserves, and crypto-based services like payments, trade, KYC, and...

Following another steep decline to $47,500, bitcoin has recovered some ground and currently trades around the coveted $50,000 price line. Most alternative coins have also bounced off since yesterday’s massacre, with ETH nearing $2,300 and BNB well above $500. Will Bitcoin Decisively Reclaim $50K? The past week didn’t go according to the BTC bulls’ plan. On Sunday, the primary cryptocurrency plummeted to $51,500. A few days of recovery attempts were halted yesterday as the...

China has had a very up-and-down relationship with bitcoin. The nation has often been rather harsh with the world’s number one digital currency by market cap, and yet in many ways, it holds a large stake in the digital currency market. Much of the world’s bitcoin mining operations stem from China; it houses the two biggest distributors of mining equipment in both Bitmain and Canaan Creative, and it was once one of the world’s largest purchasers of BTC. China Now Seems to...

The price of bitcoin has taken a horrible turn. The world’s number one digital currency by market cap – after reaching a new all-time high last week following Coinbase’s debut on the Nasdaq – has dropped roughly $8,000 in just a matter of days that has brought the asset down to roughly $55,000 per unit at the time of writing. It was recently trading as high as $63,000. Bitcoin Falls Following an End to Coinbase Hype In addition to bitcoin, other major altcoins including...

The past seven days were marked by considerable declines throughout the entire cryptocurrency market. Almost everything is in the red, with the total capitalization sliding beneath $2 trillion. There’s no other way of putting this – the past week was bad for bitcoin’s price. It was almost all downhill. The cryptocurrency was trading in the range between $61 and $63K last Friday, but things went south quickly as the weekend started. Sunday marked the first big drop where the...

Through the partnership, both Cathay and Canaan expect to expand their international coverage as the global economy recovers with the help of technology.  Canaan Inc ADR (NASDAQ: CAN), a semiconductor solution provider, has announced a strategic partnership with Cathay Tri-Tech., Inc. (“Cathey”) to introduce its artificial intelligence facial recognition module to the Japanese market. Notably, Canaan’s AI facial recognition module utilizes its Kendryte K210 AI chip.Cathay, a subsidiary of...