Tron (TRX) Erases Upside Rally despite TVM Launch Hype

At the beginning of this week, Justin Sun’s TRON was probably the only top cryptocurrency that recorded massive gains, in contrast to the rest of the bearish market. Strong fundamentals, including the Tron’s recent acquisition of BitTorrent and uTorrent, the launch of their Tron Virtual Machine (TVM), and a secret project (announced later as Project Atlas), combinedly helped TRX token rise as much as 10% against the USD. At the same time, leading cryptocurrencies, including Bitcoin and Ethereum, were stagnant. It seems the hype surrounding the Tron announcements is now wearing…

Fundstrat’s Tom Lee Makes The Case For A Big Bitcoin Rally Post-Tax Day | CNBC

Tom Lee, Fundstrat Global Advisors, discusses his ‘bitcoin tax theory.’ » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Google+: http://cnb.cx/PlusCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC Fundstrat’s Tom Lee Makes The Case For A…

Valuation of Crypto Market Surpasses $300 Billion, Did ETF Cause BTC to Rally?

The valuation of the crypto market has surpassed the $300 billion mark, as bitcoin recovered to $8,200 and small cryptocurrencies experienced a spike in value over the past 48 hours. Slight Decline in Momentum On July 25, at its peak, the price of bitcoin achieved $8,500, as its volume skyrocketed from $3 billion to $6 billion within merely hours. Since then, bitcoin has declined slightly by less than 4 percent and stabilized in the $8,200 region. As of July 26, the daily trading volume of bitcoin remains below $5 billion,…

Why Bitcoin’s Summer Rally Is Here to Stay: Brian Kelly

Bitcoin’s summer rally is here to stay, according to Brian Kelly, a regular contributor on CNBC’s Fast Money. The bitcoin price is now trading over $8,000, a figure unseen since late May, and CNBC correspondent Bob Pisani began the segment noting that some of the gains could be attributed to CBOE’s reapplication of a bitcoin ETF. Since the SEC normally takes 45 days to make a decision, many are expecting a decision by Aug. 15. The approval of a cryptocurrency ETF could bring a major boost to the markets, though…

Indicator Suggests Bitcoin’s $8K Price Rally Could Be Overstretched

Bitcoin (BTC) has had a bullish start to the week, but the momentum could wane in the next few days, technical studies indicate. The leading cryptocurrency rose to a two-month high of $8,130 on Bitfinex today, having witnessed an inverse head-and-shoulders breakout last week. The 40 percent rally from the seven-month low of $5,755 reached on June 24 has put the bulls back in a commanding position. Hence, further gains could be on the cards, albeit after a brief pause or a price pullback as a key technical indicator is…

Ethereum Classic Price Defies Bear Market in Single-Day Rally

The ethereum classic price continued its inexorable rise on Thursday afternoon as it reached $17.71 on cryptocurrency exchange Binance — a single-day increase of 7%. There could be several factors which are affecting this price movement. The principal one is the listing on Coinbase, which was something of a surprise when it beat other contenders such as Ripple’s XRP token to the finishing line. Turnover has also increased quite substantially in the past days where the price climbed from a low of around $13.50 to $17.74 of now and appears…

Bitcoin Price Headed for $100,000, Says Trader Who Called Q4 Rally

A Hong Kong trader who successfully forecast the bitcoin price’s dramatic year-end ascent believes that the flagship cryptocurrency’s rally is far from over. Dave Chapman, managing director of cryptocurrency trading firm Octagon Strategy, told CNBC’s “Squawk Box” that many analysts scoffed at him when he predicted the bitcoin price would more than double in the fourth quarter and reach $10,000 before the end of the year. “I was quoted back in August when bitcoin was trading at around $4,000 that we would have a five figure headline by the end…