Cryptocurrency News – Bitcoin – Ripple – Ethereum

Cryptocurrency News - Bitcoin - Ripple - Ethereum

Read the latest cryptocurrency news and find out what is moving cryptocurrencies such as Bitcoin (BTC), Ripple’s XRP, Ethereum (ETH), and more The Bitcoin price has a CME gap at $3,500, and there exists a possibility that the dominant cryptocurrency may retest the $3,000 region. Former hedge-fund titan Mike Novogratz said that now is the time for bitcoin during a Monday interview with Bloomberg TV. ‘In the last year it …

Read the latest cryptocurrency news and find out what is moving cryptocurrencies such as Bitcoin (BTC), Ripple’s XRP, Bitcoin Cash (BCH), and Ethereum (ETH) amongst others. Our experienced market strategists and reporters help you make sense of the moves, and themes driving investments and trading. Our aim is to provide quick and relevant and actionable content to support cryptocurrency traders and investors.

Ripple price XRPUSD

Ripple price slide for one more day, below the 50-day moving average at 0.1896, which proves to be strong resistance, as Ripple failed to break above the last trading sessions.

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Bitcoin price retreat today as the correction from the recent highs continue. The number one cryptocurrency rebound from the depths of the coronavirus sell-off, stalled at the 50-day moving average

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Bitcoin price has been trading higher as of late. However, technicals suggest that the bullish run on BTCUSD could soon be over.

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Ripple price tumbled Friday as Bitcoin prices led the crypto markets into selloff mode. The XRPUSD pair has fallen 4.67% on the day as at the time of writing. Suspicions of possible whale action were fuelled when Ripple co-founder and former CTO Jed McCaleb received another consignment of Ripple to […]

A broad-based crypto selloff lead by BTCUSD is playing out in the market on the first day of the Easter holiday. Bitcoin prices fell below $7,000 on Friday after persistent attempts to take the BTCUSD above $7,400 in the past week failed. This selloff follows reports of a massive transfer […]

The BTCUSD pair continued to rise as the countdown for “halving” got closer. The event, which will happen in the next 33 days, will see the number of blocks rewarded to miners reduce into half. This will lead to lower supplies, which could boost prices. Soaring US Debt Another reason […]

Live Ripple Price Chart

Ripple price retreat today failing to make a credible move above the 50-day moving average. Ripple is 72% higher since the March 13 lows and looks like the rebound

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Bitcoin cash price is up by 5.68% or $14.34 at 267.00 in today’s trading following its first halving event since forking away from Bitcoin. Just what is ‘halving’?

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The upside move in Ripple price seems to have stalled, even as Bitcoin prices hit resistance on the BTCUSD chart. This pattern continues to confirm the correlation that Ripple price on the XRPUSD has with the BTCUSD pair. Ripple price is currently trading at $0.19777 after hitting the resistance zone […]

Bitcoin price trades higher but off the daily highs as the crypto pair rejected for the second day in a row at the 50-day moving average. Bitcoin retreated yesterday after failed to break above $7,421. Bitcoin makes a second attempt to break above the 50-day moving average that might initiate […]

Source: www.investingcube.com

Author: by Nikolas Papas


A CME Gap at $3,500 Leaves Bitcoin Vulnerable to a Colossal Correction

A CME Gap at $3,500 Leaves Bitcoin Vulnerable to a Colossal Correction

The Bitcoin price has a CME gap at $3,500, and given the historical tendency of BTC to close it, there exists a possibility that the dominant cryptocurrency may retest the $3,000 region.

Earlier this month, former International Monetary Fund (IMF) economist and hedge fund manager Mark Dow described Bitcoin as a “textbook short,” noting that the macro trend of BTC remains unfavorable to buyers.

bitcoin price

Bitcoin a textbook short based on macro resistance (Source: Mark Dow)

The CME gap occurs when the Bitcoin price moves after the CME Bitcoin futures market is closed during after market hours.

For instance, if the Bitcoin price was at $6,600 when the futures market closes and it had surges to $7,000 when it opens, there is a $6,600 to $7,000 gap on CME.

Although CME has accounted for a large portion of the global exchange volume of BTC, the Bitcoin price does not gravitate towards CME gaps. It typically closes in on the gap when it is supported with other factors such as momentum, volume, buying or selling pressure, and technical structures.

In fact, a strong argument can be made that the CME gaps are of less importance given the noticeable decline in the volume of the futures market since March.

As the U.S. stock market crashed, accredited and institutional investors showed signs of exiting the crypto market, at least in the foreseeable future. It led to a steep drop of volume in the Bitcoin futures market, reducing the impact of CME on the short-term price trend of BTC.

Currently, the Bitcoin price is hovering near the yearly open at $7,100. It has rejected the $7,100 to $7,500 range multiple times in the past week, and a triple rejection often leads to a breakdown to lower support levels.

The technical structure of BTC, which indicates a retest of the $4,800 to $5,500 range based on key Fibonacci levels, put together with the presence of CME gaps in the $3,000s leave the cryptocurrency vulnerable to a correction.

But, some traders foresee the price of Bitcoin reacting to the block reward halving in the first week of May.

Google Trends data shows that the search interest for the term “Bitcoin halving” is nearing all-time highs, indicating that investors are anticipating the event.

“Bitcoin halving” search interest nearing all-time highs. $BTC pic.twitter.com/uIXT840au3

— Zack Voell (@zackvoell) April 13, 2020

Historical data shows that the price of BTC spikes immediately after halving occurs, then consolidates in the near-term. In the past two halvings, Bitcoin saw extended rallies play out 10 to 11 months after a halving was activated.

An overhead resistance level, low CME gap, stagnancy at yearly open, and relatively low volume point toward a significant pullback for Bitcoin in the near-term, but halving remains as a potential variable for BTC.

Source: bitcoinist.com


Former hedge-fund titan Mike Novogratz says now's the time to buy bitcoin - even though it's down more than 30% over 2 months | Currency News | Financial and Business News | Markets Insider

Former hedge-fund titan Mike Novogratz says now’s the time to buy bitcoin – even though it’s down more than 30% over 2 months | Currency News | Financial and Business News | Markets Insider

Michael NovogratzREUTERS/Rick Wilking

  • Former hedge-fund titan Mike Novogratz said that now is the time for bitcoin during a Monday interview with Bloomberg TV.
  • “In the last year it has become a macro weapon, and investment choice,” he said, adding that in the last month he’s seen “hedge funds and high net worth individuals who had never bought it before are buying it.” 
  • Still, cryptocurrencies have whiplashed amid the coronavirus pandemic. In the last two months, bitcoin has dropped more than 30%, bringing its total year-to-date losses to about 6%. 
  • Watch Bitcoin trade live on Markets Insider.
  • Famed investor and CEO of Galaxy Digital Holdings Mike Novogratz said that now is the time for bitcoin, even though the cryptocurrency has slumped in recent months amid the coronavirus pandemic. 

    “I’m long gold, I’m long bitcoin – we are seeing a monetization of debt like we have never seen in our lifetimes,” Novogratz said in a Monday interview with Bloomberg TV. “To me in the long run, that has to make hard assets look better.” 

    “In the last year it has become a macro weapon, and investment choice,” he said, adding that in the last month he’s seen “hedge funds and high net worth individuals who had never bought it before are buying it.” 

    Still, bitcoin and other cryptocurrencies have been roiled this year along with global markets amid the coronavirus pandemic that’s sent investors out of risk assets and into safe havens. In the last two months, bitcoin has slumped more than 30%, bringing its total year-to-date losses to about 6%. 

    Bitcoin is down about 3% today, trading at $6,720. Cryptocurrencies Ethereum and Ripple have also fallen more than 5%. 

    Source: markets.businessinsider.com

    Author: finanzen.net GmbH


    Cryptocurrency News - Bitcoin - Ripple - Ethereum

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