Day: November 21, 2019

Ripple (XRP) Price Trend Overwhelmingly Negative, Bitcoin Dives To $7.5K

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Ripple price is down 5% and it broke the key $0.2420 support area against the US dollar. The price tagged the $0.2350 support area and it is currently correcting higher. There is a new bearish trend line forming with resistance near $0.2450 on the hourly chart of the XRP/USD pair (data source from Kraken). The price remains at a risk of more losses as long as it is below $0.2580. Ripple price is now trading below key supports against the US Dollar and bitcoin. XRP price might continue to face…

Cypherpunk Holdings Acquires 4.5% Stake in Firm Behind Privacy-Centric Wasabi Wallet

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Tech investment company Cypherpunk Holdings has completed an equity investment worth $337,500 in zkSNACKs, the firm behind privacy-focused cryptocurrency wallet Wasabi. Cypherpunk announced the news in a Nov. 21 press release, specifying that it thus acquired a 4.5% stake in zkSnacks. With the acquisition, Cypherpunk’s chief investment officer Moe Adham became a member of zkSnacks’ board of directors. Cypherpunk’s president and CEO, Dominic Frisby, said:  “It’s taken a lot of work and several months to get this deal over the line, so I would like to both thank and congratulate…

Ethereum (ETH) Hits Final Bearish Target, What’s Next?

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Ethereum is down more than 8% and it tested the final $155 bearish target against the US Dollar. Bitcoin price is also down around 6% and it traded close to the $7,400 bearish target (as discussed yesterday). There is a short term contracting triangle forming with resistance near $165 on the hourly chart of ETH/USD (data feed via Kraken). The price might correct higher towards $165 or even $168 before declining again. Ethereum price is declining heavily versus the US Dollar, and bitcoin broke $7,650. ETH is currently correcting higher…

Leading Economic Index Decline Adds to Recessionary Red Flags

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The Conference Board’s Leading Economic Index showed another decline for October, suggesting the economy will finish the year on a low note. The LEI isn’t the only worrying trend pointing to an eventual recession. Even as the economy slows, the stock market could continue to climb in the near-term. But long-term worries persist. On Thursday, the Conference Board revealed that its Leading Economic Index for the US declined to 111.7 in October. This is the third consecutive monthly decline for the LEI, and its six-month growth rate was negative for…

Citizens Want BTC Over Peso Amid USD Crackdown

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Argentina’s central bank had formally banned consumers from purchasing Bitcoin (BTC) and other cryptocurrency using credit cards on Nov. 1. What followed was the very opposite of what the Argentine government had anticipated — over the past two weeks, the country has traded the highest amount of Bitcoins on the peer-to-peer platform LocalBitcoins, according to data by CoinDance. Argentina’s fragile economy One of the biggest factors in the high adoption of crypto in the country is the high volatility of the Argentine peso. In just the past five years, the…