Ethereum Trend Overwhelmingly Bullish: Here’s Why The Bulls Aim $250

Ethereum gains a strong bullish momentum above the $200 resistance against the US Dollar, similar to bitcoin. ETH price is likely to continue higher towards $250 in the near term. ETH price climbed higher significantly and settled above $200-$210 high against the US Dollar. The price even broke the $225 resistance and traded to a new 2020 high near $230. There is a key contracting triangle forming with support near $225 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could correct a few points, but the…

Bitcoin Price Hits $10,000 for the First Time in 2020 — Up 40% YTD

Bitcoin (BTC) briefly hit $10,000 on Feb. 9, capping a momentous first month of 2020 to reach its highest level since October last year. BTC seals $10K after three months Crypto market weekly price chart. Source: Coin360 Data from Coinbase exchange and Cointelegraph Markets showed that shortly after 3:00 a.m. UTC BTC/USD moved to $10,000 on a high volume spike but the digital asset quickly pulled back to $9,975. The feat of reclaiming five figures occurred after a nearly four-month absence. During that time, the pair traded as low as…

The Sky’s the Limit for Ripple’s XRP as Price Busts Past 2 Key Resistances

While XRP is up over 50% in the past 50 days, rallying from $0.17 to a local top of $0.29 in just over a months’ time, the cryptocurrency is still dramatically down from its all-time high above $3.00, set in early-2018. In fact, at the current price of $0.278, XRP remains over 90% lower than its all-time high, which means that the asset has dramatically underperformed Bitcoin, down a mere 50% from its $20,000 high. Related Reading: Traders Expect Bitcoin Price to Explode Big in Next Week: Will It Happen?…

Experts Consider the Security and Risks of Noncustodial Exchanges

Despite centralized cryptocurrency exchanges suffering nearly $300 million worth of hacks during 2019, many digital currency traders continue to hold significant sums of capital on centralized exchange platforms. While many noncustodial crypto services have launched in recent years, few platforms have been able to garner significant liquidity. Cointelegraph reached out to several industry experts to discuss the promise of noncustodial exchanges. Are noncustodial platforms safer? Erik Voorhees, CEO of the noncustodial cryptocurrency exchange ShapeShift, told Cointelegraph that, “Noncustodial exchanges provide a fundamentally safer way for individuals to trade digital assets.”…

All Eyes On $10,000: Can Bitcoin Break Past This Key Level?

Just 30 or so minutes ago, Bitcoin made an attempt at $10,000, breaking past $9,900 for the first time in about forever to jump as high as $9,950. The price spike, unfortunately for bulls, fell short of the ever-so-important five digits. Though, the price of BTC is not done yet, with the price falling only to $9,890 as of the time of this article’s writing, suggesting that crypto bulls may soon again attempt to catapult Bitcoin over $10,000. The question is: will it happen? A number of analysts have recently…

FAANG Stocks Provide a Better Risk-Adjusted Performance Than Bitcoin

Bitcoin (BTC) and other cryptocurrencies have been compared to FAANG (Facebook, Apple, Amazon, Netflix and Google) companies due to their network effects, as reported by Cointelegraph. The rationale that the increase in people using a platform makes its value increase exponentially — as it happens with Facebook or the App Store — is applied to cryptocurrencies at large: The more people that hold a crypto asset, the bigger increase in market value. Further reports have suggested that these companies intend to launch their coins after Facebook’s Libra introduction to the…

BSV and BCH Are Surging With Their Halvings a Month Before Bitcoin

Recently, Bitcoin (BTC) has been picking up momentum as the halving in May 2020 moves closer. However, large-cap Bitcoin forks namely, Bitcoin SV and Bitcoin Cash, will have their own halvings in April and the effects are already showing. This year, they gained 270% (BSV) and 132% (BCH) already, compared to Bitcoin’s 40%.  Crypto market daily performance. Source: Coin360 Bitcoin SV breaks out of downtrend BSV USD 1-day chart. Source: TradingView The USD chart of Bitcoin SV is showing an impressive breakout from the downtrend, which made the coin surge…

This Surprising Data Hints Crypto Market is Preparing for Its Biggest Bull Run Yet

The funding rates of bitcoin and Ethereum have been significantly higher than average throughout the past four weeks. It may suggest the crypto market is on track for a strong bull run. Funding has been positive for 37 days, showing glowing crypto market sentiment According to a well-known crypto trader who has predicted the bitcoin price to drop to the $5,000s before the next extended rally takes place, funding has been positive for 37 consecutive days. Bitcoin funding is positive for well over a month (source: il Capo of Crypto…

Coinbase Says Bitcoin Will Become Closer to Digital Gold in 93 Days

With May’s Bitcoin halving event drawing ever closer, Coinbase recently took to pushing the “Bitcoin as digital gold” narrative. In a tweet-storm to promote an accompanying blog-post published Feb. 7, it covered the key reasons why the halving and subsequent supply rate reduction will further cement that link. Scarcity creates value Since the gold standard was broken in 1971, the dollar’s value has declined and gold’s value, in dollar terms, has risen over 4000%. Gold has more value than similar metals such as copper due to its relative scarcity and…