A Strengthening Case for More Gains

Bitcoin rallied over 4% and it broke the key $10,000 resistance against the US Dollar. BTC is showing a lot of positive signs and it is likely to rise further above $10,200. Bitcoin gained bullish momentum above the $9,800 and $10,000 resistance levels. The price is now holding strong at $10,000 and it is well above the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $10,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely…

Tether’s Gold-Backed Stablecoin in Demand as Commodity Hits ATH

The Tether Gold stablecoin was valued at $1,902 on July 24, putting the price of gold within reach of the commodity’s all-time high set in September 2011. Gold has risen 22.7% from $1,550 to $1,902 since Tether Gold (XAUT) — a stablecoin allowing ownership of one troy ounce of gold held in a Swiss vault controlled by the company — was released on Jan. 23. According to The Wall Street Journal, the commodity set a new record for closing price at $1,897.50 on July 24, but has yet to reach…

Prominent Trader Suggests Bitcoin Could Soon Hit $15,000 by “Following Gold”

In the past few minutes, Bitcoin has crossed above $10,000 once again after consolidating at $9,900 for multiple hours. While it isn’t yet clear if BTC has flipped $10,000 into support, a prominent stock/futures trader is expecting a bigger breakout in the weeks and months ahead. This analyst went as far as to say that there’s a good likelihood BTC trades at $15,000 by the end of the year. Bitcoin Could Soon Surge Towards $15,000: Analyst It’s been an explosive past few months for the gold market. Since the start…

Why Ethereum is Poised for a Pullback Following Sharp Rejection at $320

Ethereum has been caught within the throes of an intense uptrend throughout the past few days, with its price exploding from recent lows of $230 to highs of over $312 that were set earlier today. This parabolic price rise has sent the cryptocurrency surging past the heavy resistance levels that it was previously facing. It appears that this growth has been driven by a combination of strong fundamentals, multiple bullish narratives, and a strong market structure. The confluence of these factors may continue boosting its price action over a macro…

Dash Core Group to Release Next Update, to Launch Testnet By Yearend

The Dash Core Group plans to release another update for its Dash platforms near the end of August, the company announced. The group recently came out with its third release for its newly defined process.  New functionalities to the Dash platform are released every six weeks so the next will launch between August 25 and September 8. As always, the most recent release means all data on Evonet has been wiped. The newest updates features document timestamping, an improved DAPI client for better code quality, usability and testability, an improved…

Bitcoin Price Rally to $10K Has Not Shaken BTC Holders Yet — Data Shows

Bitcoin (BTC) may have only held $10,000 for a matter of hours, but according to glassnode, an on-chain monitoring resource, this moon is not like others in 2020. On July 26 Glassnode uploaded surprising data about Bitcoin’s latest trip to five figures and suggested that the current journey above $10,000 will be much different than the last few. Bitcoin hodlers delay on selling at $10,000 As Cointelegraph reported, BTC/USD suddenly crushed the last remaining resistance below $10,000 on Sunday, rising to hit highs of $10,200. The excitement was short-lived, with…

Here’s What Analysts are Saying About Bitcoin as Critical Weekly Close Nears

The crypto market’s ongoing uptrend first started a few weeks ago when altcoins began posting major gains. Their strength came about against a backdrop of stability seen by both Bitcoin and Ethereum. Despite BTC trading within a macro range between $9,000 and $10,000 since the start of May, the cryptocurrency is now vying to break out of this consolidation channel. Overnight, buyers were able to push it as high as $10,200 before it met some significant selling pressure that forced it back below $10,000. From this point on, the cryptocurrency…

Blockchain Can Help Find a Cure for COVID-19

The blockchain community is playing a significant role in helping to develop pharmaceutical drugs to combat COVID-19, as blockchain can bring immense computational power to confirm transactions, and generate new coins, according to Brandon Mintz, CEO of crypto ATM network, Bitcoin Depot. In an interview with Cointelegraph, Mintz highlighted that the biggest benefit blockchain brings to the table is “the security aspect of things,” adding that such an adoption is also helpful for contactless payments and online purchases with crypto as online sales continue to skyrocket. Crypto community efforts to…

Wall Street Analyst: Bitcoin Will Soon Push Past $10,500, Then Rocket 30%

After flatlining around $9,600-9,700 for a number of days, Bitcoin saw an explosive price move early Sunday morning. Following a failed attempt to break $9,800, BTC exploded to $9,150 on spot exchanges and $9,300 on margin exchanges, liquidating dozens of millions.  BTC price chart from TradingView.com Bitcoin has since faced down a reversal as bulls failed to maintain the pressure of this surge, seemingly catalyzed by the futures market. A prominent Wall Street analyst still remains optimistic about the cryptocurrency market, arguing the $10,500 resistance will soon be toppled. Related…

XRP Pullback Likely After Sell Setup Perfects, But Recovery Should Remain Intact

XRP and the rest of the cryptocurrency market have been pumping over the weekend. However, Ripple’s recent, much-needed recovery may already be over, according to the asset perfecting a sell setup on daily timeframes. Will the sell signal result in a reversal back into a bear trend, or will any downside simply be a pullback ahead of a greater recovery ahead? XRP’s 12% One-Week Rally Could Correct, Following TD 9 Sell Setup This week, as Bitcoin finally started to break free from its sideways range, the rest of the crypto…