Month: July 2019

Ethereum Price (ETH) Sighting More Upsides, Bitcoin Breaks $10K

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ETH price climbed higher steadily and broke the $215 resistance area against the US Dollar. The price topped near the $220 level and recently corrected below $215. There was a break below an ascending channel with support at $216 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains well bid on the downside near the $210 and $208 support levels. Ethereum price is struggling to continue higher versus the US Dollar, while bitcoin broke $10,000. ETH price is likely to bounce back as long as it…

Top Predicting Signal Hits Highest Peak, Is a 50% Drop Ahead?

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Bitcoin price is at a critical junction, with either a major bull run ahead or a deeper correction that could mean the bear market hasn’t yet ended. A powerful indicator called the NVT ratio – designed by one of the crypto community’s best and brightest – has been used to time the tops and bottoms of Bitcoin bubbles, and is currently showing that Bitcoin has fallen from the highest levels it’s ever reached. The last three times Bitcoin reached such high NVT levels, it feel on average 50%. Could a…

QuadrigaCX Judge Approves $1.6 Million in Expenses for EY, Law Firms

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A Canadian judge approved more than $1.6 million in fees for firms that are seeking to recover funds from the now-defunct Canadian crypto exchange QuadrigaCX. Nova Scotia Supreme Court Judge Darlene Jamieson ruled Wednesday that all activities undertaken and fees incurred by Ernst & Young (EY), Stikeman Elliot (EY’s legal counsel), Kirkland & Ellis (EY’s American legal counsel), Miller Thomson (representative counsel) and Cox & Palmer (representative counsel) under the ongoing Companies’ Creditors Arrangement Act (CCAA) proceeding on behalf of Quadriga would be approved. “There being no expressed opposition to the…

Bitcoin Rally Is Around the Corner Based on This Volatility Indicator

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Bitcoin has been relatively quiet ever since it posted its 2019 high of $13,880 on June 26. From that point, the market has been on a steady pullback with a few short-lived rallies. Experienced traders would call the price action as “choppy,” where there are no big moves and the trend is mostly sideways. A choppy market is not exciting for day traders because there are no wild swings to profit from. It is also boring for momentum traders and trend followers because they have to wait for the resumption…

America Hasn’t Done This in 10 Years

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The US Federal Reserve is expected to cut the target interest rate on Wednesday for the first time since the global financial crisis a decade ago. This policy shift is gasoline for bitcoin. To cut rates, the Fed will increase the supply of US dollars, thus cannibalizing its value.  It’s a stark reminder that fiat money can be manipulated at will by central banks. Bitcoin cannot. Bitcoin’s total supply is hard-capped and will never increase. While the Fed prepares to flood the market with more dollars, bitcoin is about to…

Beating Bakkt, LedgerX Is First to Launch ‘Physical’ Bitcoin Futures in US

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The Takeaway Bitcoin derivatives provider LedgerX announced it has launched the first physically-settled bitcoin futures contracts in the U.S. Wednesday. The contracts, which pay traders out in bitcoin, rather than U.S. dollars, will be available to both institutional and retail investors. Customers can deposit bitcoin, rather than dollars, when buying a contract. LedgerX has beaten the Intercontinental Exchange’s Bakkt and TD Ameritrade-backed ErisX to the punch with its new offering. Any U.S. resident with a government-issued I.D. can now trade futures contracts for real bitcoin. Revealed exclusively to CoinDesk, LedgerX…

Bitcoin Rises as Markets Expect Decade’s First Fed Rate Cut

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The bitcoin price was higher on Wednesday morning as investors prepared themselves for the outcome of the Federal Reserve’s meeting later in the afternoon. At around 07:00 UTC, the BTC/USD instrument established a local high of $9,814.61, up close to 3 percent in the previous 24 hours. Futures on CME were also up by 2.31 percent. Bitcoin’s upside also influenced other cryptocurrencies to follow suit, with Ethereum, XRP, Litecoin, and Binance Coin surging in the range of 2-3 percent. Bitcoin Cash, meanwhile, registered profits of more than 5.5 percent, the…

Bitcoin on Track to Post First Monthly Price Loss Since January

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View Bitcoin looks set to end its five-month winning streak with prices currently down 9 percent from the monthly opening price of $10,759, according to Bitstamp data. A low-volume price breakout seen on 4-hour chart indicates BTC may have a tough time scaling key resistance at $10,235 in the next few hours. Long-term charts retain the bullish bias despite the monthly loss. A UTC close above $11,120 is needed to revive the short-term bullish outlook. Bitcoin (BTC) appears on track to end July on a negative note, having logged gains…

Bitcoin Price (BTC/USD) Signaling Bullish Continuation To $10,200

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Bitcoin price formed a solid support near the $9,200 level and recently recovered against the US Dollar. The price is trading nicely above $9,500 and it recently tested the $9,770 level. There is a short term contracting triangle forming with resistance near $9,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to continue higher once it clears the $9,750 and $9,800 resistance levels. In the past few hours, bitcoin price recovered above $9,500 against the US Dollar. BTC price is showing positive…