Ethereum’s intense uptrend seen throughout the month of February has stalled after the crypto faced a firm rejection at $290, which subsequently sparked a retrace that led ETH down to lows of $240, where it was able to find some notable support. Despite being able to climb from these lows, the crypto’s parabolic rally has turned into a bout of sideways trading, and this is leading the number of short positions on ETH to skyrocket. Importantly, one top trader is now noting that these short positions could provide fuel for bulls, potentially fanning the flames that evoke the next major uptrend. Ethereum Stable Around $280 as Bitcoin’s Uptrend Slows Down  Yesterday, Ethereum and most other major altcoins were able to incur some notable buying pressure that helped … [Read More...]

Bitcoin’s bearishness yesterday has spilled over into today, leading the cryptocurrency to slowly drift lower today as its bulls struggle to garner enough support to propel BTC back into the coveted five figure price region. This recent price action seems to have struck fear into the hearts of investors, as it could mean that the highly bullish market structure it has developed over the past several weeks will soon be invalidated. Now, analysts are noting that there are a few key factors that could lead BTC to see further downside in the near-term, but it remains unclear as to whether or not this will be enough to invalidate its 2020 uptrend. Bitcoin Remains Stuck Beneath $10,000 as Bears Build Strength At the time of writing, Bitcoin is … [Read More...]

Could the coronavirus be helping to drive the current price rally in Bitcoin? The CEO of InvestorsHub.com certainly thinks so. Clem Chambers makes the case that the virus’s outbreak has made safe haven assets more desirable. For him, Bitcoin trumps gold thanks to its portability and convertibility. Is Virus Behind BTC’s 2020 Gains? The notion of Bitcoin as a safe haven asset is an increasingly popular one. However, a more established use case for the crypto asset is certainly speculation. This makes it difficult to determine the exact cause of sudden increases in buying pressure during periods of global uncertainly. As NewsBTC has reported previously, there are plenty that believe it to be speculation on the existence of safe haven investors driving Bitcoin rallies, not … [Read More...]

Bitcoin is the first-ever cryptocurrency that all other altcoins were designed after, with many providing additional benefits above and beyond what the original crypto has to offer. Altcoins have recently been vastly outperforming Bitcoin in what crypto analysts refer to as an “alt season,” but it all may come to a surprise end leading to additional collapse if the strong signal Bitcoin dominance is showing confirms. Alt Season Already Over if Bitcoin Dominance Breaks Up from Falling Wedge Formation Because Bitcoin was the first crypto asset to ever be released, it has first-mover advantage and all that comes in tow. Bitcoin has the most brand recognition, it has the largest market cap, and it is the most widely used cryptocurrency in terms of … [Read More...]

It has been a wild day for Bitcoin, with the cryptocurrency flying past the intense resistance it previously faced between $9,800 and $10,000, with its movement into the five-figure price region sending chills down the spines of BTC bears. BTC is now fast approaching its weekly close, which will be a critical event that offers insight into the long-term significance of this movement, as a close above $10,000 will highly favor bulls. Analysts are now noting that the cryptocurrency is on the cusp of entering its next parabolic cycle, which could suggest that it is about to see some major near-term gains. Bitcoin Stabilizes Above $10,000 as Weekly Close Approaches  At the time of writing, Bitcoin is trading up just under 3% at its … [Read More...]

With the Bitcoin halving rapidly approaching, the multi-billion-dollar question is just how the historic event will impact BTC price. One popular price prediction model has a post-halving price in the range of $55,000 to $400,000. According to the theorist behind the prediction, people have been misinterpreting the model behind the lofty figures presented. The analyst responsible for them has addressed the confusion, advising folks not to hold their breath for a $50,000+ Bitcoin during the three months leading up to the halving. Yes, Stock-to-Flow Indicates Big Bitcoin Gains, But Let’s Not Get Ahead of Ourselves If you’ve been following the Bitcoin and wider crypto asset industry over the last few months, you probably already know something about the much-… [Read More...]

After taking a bit of a breather over the last day or so, the Bitcoin price is once again in the ascent. At the time of writing the leading crypto asset is trading for more than $9,600. With Bitcoin price gaining consistently throughout the start of 2020, a sense of bullishness has returned to the industry. Many are now targeting further upside for the short to medium term. Bitcoin Price Pushes Towards $10,000, Are the Good Times Set to Continue? The Bitcoin price has resumed its upwards move after a brief dip. On February 3, BTC hit just over $9,500 before retreating to a local low of around $9,120 the following day. The decline was short lived, however. Today, the price of the leading crypto asset is once again … [Read More...]

In an effort to promote safe smart contract use, a group of Ethereum startups has founded a new initiative. The Ethereum Trust Alliance (ETA) will provide smart contract ratings, informing users of an application’s reliability. Previous examples of smart contract vulnerabilities have resulted in millions of dollars of missing funds. The ETA hopes to prevent similar occurring again. Good information about the trustworthiness of a smart contract may well drive Ethereum adoption going forward. ETA Understands Not Everyone Can Audit Their Own Ethereum Smart Contract Public blockchain projects, like Bitcoin and Ethereum, are open source. That means that any individual can inspect the code for flaws, vulnerabilities, or back doors. Whilst it’s true that anyone can look at the code itself, not everyone can actually … [Read More...]

Bitcoin (BTC) is currently in the process of revisiting its recently established 2020 highs of $9,550, with its ongoing upsurge coming close on the heels of yesterday evening’s selloff that led the crypto to dip as low as $9,200. Bull’s ability to post a strong defense of this level suggests that the cryptocurrency could be on the cusp of setting fresh 2020 highs, and there are a few key factors that analysts are watching that could suggest BTC will soon break into the coveted five-figure price region. Bitcoin Rallies Towards $9,500 as Analysts Watch for BTC to Set Fresh 2020 Highs  At the time of writing, Bitcoin is trading up just over 1% at its current price of $9,450, which marks a notable climb from daily lows of $9,200 … [Read More...]

Ethereum’s firm 2020 uptrend has been quite significant, as it has drastically altered the cryptocurrency’s market structure, making ETH look to be incredibly bullish at the moment. It is important to note that ETH is currently on the cusp of breaking above a key resistance level that could catalyze a significant upwards movement against its Bitcoin trading pair, which would in turn have an impact on its USD pricing. Furthermore, analysts are also explaining that Ethereum has been one of the only major altcoins that hasn’t posted a decisive breakout in 2020, which could mean that it will be the next crypto to incur massive independent momentum. Ethereum Pushes Up Against Key BTC Resistance Level; Breakout Imminent  At the time of writing, Ethereum is trading up over 2% at … [Read More...]