Digital Banking Becomes A Reality

Digital Banking Becomes A Reality

Kraken Financial is the first crypto currency exchange to get approval to provide digital banking services as Digital Banking Becomes A Reality. Tentatively called Kraken Financial, the new bank will be able to make conversions between digital and fiat currencies for customers without the intervention of a third party. Kraken exchange, which allows users to buy, sell, and trade digital currencies, has so far depended on external portals for conversions between fiat and crypto currencies. With the new charter, the exchange will now be able to help customers bring the…

Whales are Accumulating Bitcoin Despite Its Stalling Momentum

Bitcoin’s multi-week consolidation phase comes close on the heels of the strong uptrend that the cryptocurrency was able to post late last month. Despite its macro outlook remaining incredibly strong, it appears that Bitcoin’s short-term outlook is being impeded by the heavy resistance at $12,000. Buyers attempted to shatter this level yesterday, although the selling pressure here proved to be too significant. It is important to note that yesterday’s bid at this level did not catalyze any sharp pullback or rejection, signaling that buyers are building up strength. Another factor…

Ethereum Price Regains Bullish Momentum, But $400 Still A Key Hurdle

Ethereum recovered nicely above the $380 and $390 levels against the US Dollar. ETH price must surpass the $400 barrier for another leg higher in the near term. Ethereum is up over 5% and it broke the key $380 and $390 resistance levels. The price traded close to the $398 level and it settled above the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $390 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct a…

Retail Investors are Flooding into Bitcoin as Likelihood of Explosive Rally Grows

Bitcoin’s price has been caught within a strong uptrend throughout the past several weeks, although this momentum is showing some signs of stalling as the cryptocurrency consolidates within the upper-$11,000 region. Analysts are now noting that BTC may soon see a strong uptrend due to inflows of capital from retail traders who are just entering the market for the first time. This group of investors may provide Bitcoin with a strong base to grow upon and is indicated by the number of addresses holding over 1 BTC coupled with BTC’s expanding…

What To Expect If Bitcoin Forms Three White Soldiers On Weekly Timeframes

Bitcoin price this week exploded through resistance at $10,000 and blasted to a high of $11,400. The cryptocurrency is now consolidating below that level, gearing up for what one crypto analyst expects to be a follow up nearly one and a half times the size of this week’s rally. Will the cryptocurrency close a “Three White Soldiers” formation, and if it does, what can be expected for price action in the days and weeks ahead? Bitcoin Price Weekly Structure Looks Set For Bullish Uptrend Pattern, Claims Crypto Analyst In response…

This Indicator Predicted the 2017 and 2019 Bitcoin Rallies; It Just Flashed Again

Bitcoin is currently flashing some signs of strength as it continues consolidating within the lower-$11,000 region. Overnight, bears attempted to push the digital asset below $11,000, but this dip was met with significant buying pressure that subsequently allowed it to climb higher. Analysts are widely noting that the resistance found within the mid-$11,000 region remains a crucial hurdle that the cryptocurrency may continue struggling to surmount. Because BTC is consolidating above its support throughout the upper-$10,000 region, it does seem as though it may be well-positioned to push higher in…

Bitcoin Could Hit $12K on Ethereum-Tailing Behaviour: Analyst

Bitcoin is eyeing a breakout towards $12,000, according to crypto-chart analyst Josh Rager. The analogy appears out of Ethereum’s latest upside move from a consolidation range. Mr. Rager sees Bitcoin repeating the same bullish action as it trades inside a similar sideways pattern. Bitcoin is at the cusp of hitting $12,000 in the coming sessions, according to an inter-coin fractal shared by Josh Rager. The market analyst noted that Bitcoin is almost mirroring the recent price moves of Ethereum, the second-largest cryptocurrency by market cap. Earlier yesterday, the ETH/USD exchange…

Unexpected Factor That Suppressed Bitcoin Bulls in 2019 Is Now Gone

If you’ve been involved in the Bitcoin market over the past year, you know of PlusToken. PlusToken was a Ponzi scheme with a focus on the Asian cryptocurrency space that was active in 2019. In offering depositors of Bitcoin, Ethereum, EOS and other cryptocurrencies high levels of interest, the operators of the scam managed to garner billions worth of assets. Per some reports, the scam held upwards of $3 billion worth of largely BTC and ETH at its peak. Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold Bitcoin,…

This Simple Bullish Pattern Suggest Ripple (XRP) Could Surge Above $0.25

Ripple is up over 2% and it is showing positive signs above the $0.2400 resistance zone against the US Dollar. XRP price is likely to accelerate gains if it clears the $0.2500 resistance. Ripple price started consolidating gains after it rallied towards the $0.2500 level against the US dollar. The price is currently trading nicely above the $0.2400 and $0.2380 support levels. There is a key rising channel forming with support near $0.2410 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair remains well supported…

Ethereum Smashes Another Hurdle: A Strong Case for Upside To $350

Ethereum gained more than 4% and it surged above the $335 resistance against the US Dollar. ETH price traded to a new monthly high at $343 and it could rise further to $350. Ethereum started a fresh increase above the $325 and $335 resistance levels. The price traded to a new monthly high at $343 and it settled well above the 100 hourly simple moving average. There was a break above a crucial contracting triangle with resistance near $320 on the hourly chart of ETH/USD (data feed via Kraken). The…