In the past 30 days, the valuation of the crypto market dropped from $ 138 billion to $ 114 billion by $ 24 billion. Yet, TRON (TRX) recovered from $ 0.0127 to $ 0.0264, by well over 107 percent. Since December 17, in about five weeks, the Tron price demonstrated a strong gain against both Bitcoin and the U.S. dollar following a series of positive announcements. Most recently, BitTorrent Token, the native cryptocurrency of the BitTorrent ecosystem, initiated a token sale on Binance Launchpad and all of the tokens sold out within minutes. Could BitTorrent Pave the Path Towards the Success of TRON On January
Renowned economist, author of the “Death of Money,” Jim Rickards says the markets just “got the cue” they need. The U.S Federal Reserve (FED) is now unlikely to raise interest rates again without significant warning. That’s a green light for the stock markets and indeed the cryptocurrency market. Powell's use of "patient" on Friday was
The post Here’s Why FED Gives Markets Green Light, Further Rate Hikes Unlikely appeared first on CCN
Following a wild week on Wall Street, the US stock market looks poised to extend its latter-week recovery following the opening bell on Friday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq futures indices all pointing north as of the time of writing. Dow Seeks to Extend Recovery Dow futures had risen 111
The post Dow, S&P 500 Eye Further Gains after Wild Week on Wall Street appeared first on CCN
The UK’s financial watchdog is stepping up its scrutiny of the cryptocurrency sector, even as prices continue to regain their position, over last week’s bloodbath, which saw the total market cap for cryptos shed almost 80 percent of its value. According to a Telegraph Money report published on the Telegraph UK, the number of businesses being
The post UK Financial Regulator to Investigate Non-Complaint Crypto Businesses Further appeared first on CCN
The bitcoin price on Tuesday nursed extensive losses of over 12 percent against the US dollar, stabbing through $ 5,000 as it did. BTC/USD Intraday Analysis The BTC/USD index is currently trading at the 4513-fiat price level after a minor jump from its intraday low at 4035-fiat. The knee-jerk reaction after a massive sell-off does not confirm
The post Bitcoin Price Claws Back to $ 4,500 But Further Losses May Lie Ahead appeared first on CCN
Chart for XRP/USD (4H)
Ripple (XRP) rallied aggressively soon after the golden cross seen on the XRP/USD 4H chart. The price is currently trading above the 50 EMA on the 4H chart and is not likely to drop below it. Bollinger Bands %B indicator on the XRP/USD chart also shows that Ripple (XRP) is just preparing for a massive rally. We have seen over the past few weeks that Ripple (XRP) is also beginning to gain in dominance against Bitcoin (BTC). Ripple (XRP) is known for its quick but aggressive rallies. What does this mean? It means that Ripple (XRP) makes its entire gains for the cycle in an extremely short timeframe. This is why so many Ripple (XRP) investors are strong believers in the idea of hodling.
Bitcoin’s reversal of the recent uptrend in prices is gathering pace and a drop into a bearish territory below $ 6,200 is now a possibility.
China’s Center for Information and Industry Development has updated its ranking of 33 crypto projects, evaluated in three separate categories as well as overall. BTC has been downgraded further since the center’s previous update while EOS and Ethereum still top the overall ranking.
China’s Center for Information and Industry Development (CCID), under the country’s Ministry of Industry and Information Technology, announced a new update of its crypto project ranking on Monday. This is the center’s sixth update. The number of crypto projects evaluated remains 33, unchanged from the previous ranking.
In the last 24 hours, the Bitcoin price has experienced a gradual decline from $ 6,500 to $ 6,410, struggling to demonstrate momentum in the relatively low region of mid-$ 6,000. On October 21, CCN reported that the low volume of Bitcoin remains a concern for traders, as it demonstrated the lack of interest in investors in the
The post Bitcoin Price Drops to $ 6,400: Further Decline to Low $ 6,000 Region in Play? appeared first on CCN
The hack of Japan-licensed cryptocurrency exchange Zaif took the crypto community by surprise last week. It’s recently emerged that the perpetrators of the crime are trading the stolen wealth on Binance and other exchanges.
Japan’s Financial Watchdog Slams Three Business Improvement Orders
The event couldn’t pass unnoticed, especially because the exchange had reportedly warned about its vulnerabilities in advance following the Japanese financial authorities’ (the FSA) verifications.
The United States Securities and Exchange Commission (SEC) has published an “order instituting proceedings to determine whether to approve or disapprove” the proposed Vaneck Solidx bitcoin exchange-traded fund (ETF). The SEC is asking for further public feedback on issues pertaining to concerns regarding the bitcoin market’s perceived vulnerability to manipulation.
SEC Institutes Proceedings to Rule on Vaneck ETF
The U.S. SEC recently published an “order instituting proceedings to determine whether to approve or disapprove a proposed rule change to list and trade shares of Solidx bitcoin shares issued by the Vaneck Solidx Bitcoin Trust.”
The Ethereum price has had a rough 2018 so far. Unfortunately for speculators and enthusiasts, it seems the worst has yet to come in this regard. With the Ethereum price now falling below $ 170, it seems to be a matter of time until $ 150 and potentially lower is reached. This is not necessarily the best outcome for the cryptocurrency ecosystem.
Ethereum Price Struggle Intensifies
Today will be another tough day for Ethereum enthusiasts. The value of their preferred cryptocurrency is getting battered once again, courtesy of another 12% drop in the past 24 hours. Compared to Bitcoin’s downtrend, things are certainly heading in the wrong direction for the world’s second-largest cryptocurrency by market cap. There is no improvement in sight, and things may even get worse as more time progresses.
Chart for BTC/USD (1W)
Bitcoin (BTC) has not had a fall this aggressive since June 2018. Yesterday, the price of Bitcoin (BTC) nosedived in a matter of hours on what seems to be insignificant news. Apparently, the cause of this dump was Goldman Sach’s announcement that it is scraping off its crypto trading desk for now. The market reaction to this is completely unreasonable given the fact that it is nothing out of the ordinary for a financial institution to pull away resources from a market with low trading volume.
Cardano (ADA) has now lost 95% of its value since its all time high of January. The above weekly chart for ADA/BTC shows that Cardano (ADA) which until now has been trading in a pitchfork as well as a falling wedge is now at the end of its correction. RSI for the above chart has also been trading in a falling wedge and is now at the point of a break out as it has reached the full extent of its movement.
Bitcoin (BTC) is an uptrend as the price seems to have entered a new ascending channel that can be seen on the 4H chart for BTC/USD above. This channel has held so far since the last few weeks of August and can be seen as the gateway to a trend reversal. However, the price seems to have lost the bullish momentum that kicked in soon as Bitcoin (BTC) closed last month above 21 EMA on the monthly time frame.
Ripple (XRP) is not at a good point, for now. The price has once again broken below the 5 EMA and is now likely to fall further. The 4H chart above for XRP/XBT shows that during the past few months, every time the price of Ripple (XRP) has fallen below the 5 EMA, it was followed by a 26% correction. The first time this happened was in July when one red candle that closed below the 5 EMA on the 4H timeframe was followed by a series of red candles till the price had a 26% correction.
Bitcoin (BTC) has been through an extensive correction but it is not out of the woods yet. There are still plenty of analysts calling for a $ 3,000 bottom. In normal circumstances, the chances of that happening are negligible. If things remain as they are, there is no reason Bitcoin (BTC) might fall below $ 5,000. However, as we have seen in the past, it does not take much for things to change in this market.
Commercial venues located in Beijing’s bustling downtown district have been banned from hosting cryptocurrency events, igniting speculation over whether China’s government is moving to tighten the noose on the industry, which continues to thrive despite last year’s trading ban. According to a report published on Chinese-language outlet QQ, local authorities in Beijing’s Chaoyang district have
The post Does Beijing’s Commercial Crypto Ban Signal a Further Govt. Crackdown? appeared first on CCN
Chart for VeChain/US Dollar
VeChain (VEN) made a stunning comeback during the recent crypto relief rally by surging 35% in the last 24 hours. The cryptocurrency which was forgotten for a while after leaving the top 20 league has now once again become the 20th largest coin by market cap. The price has yet to break out of the downtrend but it seems to have found support at the lower limit of what forms a falling wedge inside VeChain (VET)’s descending channel since the correction.
Retailers in Bali are being forced to stop accepting bitcoin at their shops and restaurants.
The actions of governments and regulatory authorities in Asia have been a hot topic in the cryptocurrency space over the last few weeks. The recent crash is widely seen as being driven by reports that the South Korean government indicating it is set to crackdown on cryptocurrency usage. A similar concern is hanging over the already heavily regulated Chinese market right now, rooted in potential government actions to limit access to international exchanges for users within its borders.
Bali A Hive Of Bitcoin Activity?
But it doesn’t stop there.