The bitcoin price on Tuesday continued to pursue its downward trajectory, albeit finding decent support at one of the downside targets. The climate is not favorable for establishing long-term positions, but a few well-timed day trades can help you make the most out of the market’s recent bearish turn. Bitcoin Price Not Favorable for Long-Term Trades BTC/USD opened the Asian trading hours at $ 3,433, down 0.43 percent from yesterday’s high. The pair fell as much as 2.87 percent as the session matured. It established an intraday low at $ 3,337 before correcting higher during the European trading session. As of 19:00
Despite investor sentiment dropping after the first major hack of 2019, tokens associated with crypto exchanges have outperformed the larger market in January. To read this article you must be a subscriber Members can login here. Subscribe for $ 10/month Subscribe for $ 60/year SludgeFeed Premium members gain access to exclusive content that’s not available to the average reader, including […]
After calling a bear market in December, “bond king” Jeffrey Gundlach has criticized US debt levels. Despite last week’s stock market gains, he’s reiterated his bearish stance. Jeffrey Gundlach, Jim Cramer Spar over Stock Market’s Future The investor and former head of the $ 9.3 billion TCW Bond Fund has a reputation for being right. His
The post Bond King Gundlach Bearish on Stock Market, But Jim Cramer Stays Bullish appeared first on CCN
Toyota has revealed it will recall another 1.7 million vehicles worldwide over airbag faults. The auto industry stalwart’s share price could be hit in the next session of trading. 23 Deaths Caused Worldwide by Takata Air Bag Inflators The latest recall is actually part of an ongoing recall program for Toyota which began in 2016
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Ongoing layoffs at cryptocurrency mega-firm Bitmain could start a fresh wave of selling in Bitcoin Cash and Litecoin markets, according to prominent crypto investor Kyle Samani. The cryptocurrency-focused venture capitalist said in a tweet that the Bitcoin mining giant is — if rumors are true — running out of money to continue its operations across
The post ‘Extremely Bearish’: Crypto VC Says Bitmain Layoffs Could Spell Doom for Bitcoin Cash and Litecoin appeared first on CCN
Crypto trading platform Bitfinex has announced the opening of a margin trading service for the USDT/USD trading pair. According to the platform, the aim of the new service is to improve its stablecoin offering so as to remain consistent with market evolution and user demand. With immediate effect, traders will be able to carry out leveraged
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The most potential use case of bitcoin today is the store of value. But an analyst thinks otherwise. Stephen Innes, head of Asia Pacific trading at Oanda, a New York-based forex firm, believes that the world’s leading digital currency is due for another drop because it hasn’t provided the world a “significant use-case” yet. The Bitcoin … Continued
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The bitcoin price on Friday expects to close the week on another drop as it slows its upside correction following yesterday’s $ 400 plunge. The BTC/USD rate is now trading at 4283-fiat, up 4.8-percent from its intraday low. The upside action is taking place as volume drops. It means that traders are showing no support to
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According to Willy Woo, a prominent cryptocurrency analyst and researcher, Bitcoin is expected to bottom out in the second quarter of 2019. Throughout the past three months, since August, Bitcoin has remained in a tight range from $ 6,200 to $ 6,800, unable to break out of major resistance levels above the $ 6,800 mark apart from one
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So, a lot of investors and analysts seem to think that BTC/USD is bearish or more blood is about to come. Most of them keep saying, Bitcoin (BTC) won’t go above $ 20,000 before 2019 or that the price may drop to $ 4,000 before going up but they rarely explain the rationale behind such statements. The bulls often substantiate their claims with evidence but the bears rarely do this. This is because most bears at this point are trading on sentiment, just like most bulls at the top were trading on sentiment. That being said, there are some bears that make a very good point. At least they have a reason for being bearish and are not trading on sentiment.
The bitcoin-to-dollar exchange rate has dipped close to 1 percent on Thursday, now trading at 6470-fiat. The outcome of the US midterm elections with Democrats sweeping a sharp win in the House had certainly shaken the US dollar yesterday. The greenback nevertheless sustained its overall bullish momentum ahead of the Federal Reserve policy meeting today.
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On Monday, bitcoin underwent a bearish correction after establishing a new weekly high at 6440-fiat, falling close to 0.8 percent. Bitcoin Hits Weekly High The BTC/USD pair is trading in a bull trend above the 200-period simple moving average on hourly charts. The big move yesterday seems to have appeared more because of Tether, whose
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The cryptocurrency market is full of Bitcoin (BTC) bears at this point. The long, extensive correction has been instrumental in weakening bullish resolve. All the euphoria and enthusiasm felt around levels of $ 18,000 and higher has now been completely shattered. Just when the majority starts to feel the same way, is the time we can expect a trend reversal. This was true when Bitcoin (BTC) topped out and this is true now that BTC/USD seems to have bottomed out. Historical data suggests that every time Bitcoin (BTC) has remained above the 21 Month EMA, it has remained bullish. In fact, going bearish on Bitcoin (BTC) at current levels is no different than buying Bitcoin (BTC) around $ 18,000.
Ripple (XRP) has been in a correction for as long as the rest of the market. However, the sentiment towards Ripple (XRP) has remained a lot different than that that towards most cryptocurrencies. This optimism towards Ripple (XRP) stems from the promise of XRP eventually replacing fiat currencies. Given the low cost and high speed of XRP transactions, it is easy to see why most Ripple (XRP) investors strongly believe in this promise. Most of the time, we see that markets do not care about sentiment. It is also true in the case of Ripple (XRP) and as we can see the price declined all the way $ 3.2 against the wishes of most investors. However, there are still strong signs of an unwavering belief in Ripple (XRP) even during the bear trend.
Stellar (XLM) has already broken its downtrend resistance against the US Dollar. However, it is moving nowhere until Bitcoin (BTC) gives it the green light. When Ripple (XRP) defied the market and made its own moves, Stellar (XLM) followed. However, it did not last long for either of them and the price nosedived back to where it climbed from. Stellar (XLM) is currently struggling to defend the 10 Day EMA. If history is any indication, the price is likely to skyrocket from here. This would also coincide with the altcoin rally. RSI for the above daily chart for XLM/USD shows that the technical conditions are ripe for a rally towards $ 1.
The bitcoin price continues to trade sideways on Monday after a stable showing during the weekend on the daily charts. The bitcoin-to-dollar exchange rate is trading at 6398-fiat at the time of writing, 0.85 percent lower than its Sunday high. The pair has found a decent support area in 6350-6400-fiat zone. But, it does not
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At press time, the price of bitcoin is unchanged and still lying within the $ 6,200 range where it’s remained for roughly 72 hours.
Many analysts had predicted that bitcoin’s sudden “stability” would in turn lead to bullish behavior. After all, the coin was remaining at $ 6,500 for several days, and it appeared things weren’t likely to change in the immediate future. At the same time, volatility was down, and the currency was showing strength and maturity in the face of an ever-changing market.
David Drake – founder and chairman of LDJ Capital – commented in a recent interview:
On October 6, CCN reported that the volume of Ripple has declined by more than 50 percent within the past four days. Since then, XRP has declined by around eight percent against the US dollar. The volume of Bitcoin has slightly recovered to $ 2 billion on CoinCap.io and $ 3.3 billion on Coinmarketcap, but the dominant
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It has become apparent the XRP price is facing a major setback for quite some time now. With most of the top cryptocurrencies, tokens, and assets in the red once again, things do not look great. The latest push down puts the XRP price at just $ 0.477, and it seems the battering is far from over.
XRP Price Downtrend Continues
Despite a week of positive announcements for Ripple and its xRapid service, it appears the overall interest in XRP is not necessarily increasing in a significant manner. Although this asset notes an increase in overall trading volume, it has become apparent the higher volume only helps keep the value of XRP down for a longer period.
A new report drafted by the New York attorney general’s office (OAG) alleges that a significant number of cryptocurrency exchanges may be vulnerable to market manipulation, a finding that could prove ominous for hopes among investors that federal regulators will approve a bitcoin ETF or other exchange-traded crypto products in the near-term. 3 CME-Partnered Exchanges
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