Category Archives: Altcoin
Crypto Analyst Says This Altcoin Just Turned Mega Bullish Heres Why Bitcoin (BTC) Could Reap the Rewards – The Daily Hodl
With the crypto markets once again correcting and Bitcoin (BTC) in the $9,600 area, a popular crypto analyst says Litecoin (LTC) is looking increasingly bullish.
The pseudonymous analyst who goes by the name Byzantine General says Litecoins price action may once again foreshadow where the market at large is heading, as it often did throughout 2019. The trader is highlighting four technical factors that he says look bullish for the sixth-largest cryptocurrency by market cap.
According to Byzantine, Litecoins weekly moving average convergence divergence indicates a positive shift in momentum is underway. In addition, the one-week Ichimoku Cloud is in bullish territory, LTC has flipped a key level of support and resistance at $61.72 and the crypto assets weekly supertrend is now bullish.
The trader says LTC needs to stay above the $66 area to remain in bullish territory. At time of publishing, the crypto asset is down 5.34% at $74.32, according to CoinMarketCap.
As for Bitcoin, Byzantine says $9,500 is now the key number to watch. BTC has struggled to stay above that level since March of last year.
Meanwhile, fellow analyst Josh Rager says he thinks BTC bulls now need to hold the leading cryptocurrency above $9,300 in order to prevent a larger move to the downside.
Price dropped and bounced near the weekly/daily support around $9,580.
Holding above the $9,550s is a good sign on higher time frames and breaking below the $9,300s will still flip bear bias. Lower time frames in down channel but weekly chart still not confirmed trend reversal.
Now that BTC has once again shifted firmly below $10,000, Rager is imploring the largest crypto holders in the space to buy in and give BTC a shot in the arm.
Whether whales are interested in doing so remains to be seen.
Read the original:
Crypto Analyst Says This Altcoin Just Turned Mega Bullish Heres Why Bitcoin (BTC) Could Reap the Rewards - The Daily Hodl
Ethereum (ETH) And Other Altcoins Risk Massive Capital Flight – Crypto Daily
Ethereum (ETH) and other altcoins are at a higher risk now that the stock market has seen massive decline in the past two days. Investment in cryptocurrencies continue to be risky and as investors become more risk averse, the altcoin market is expected to see a massive capital flight in the weeks and months ahead. The coronavirus situation is not just a one-time event like a political event, for instance an attack on oil fields in Saudi Arabia or the killing of Qassem Soleimani. This is different as it is a growing development that worsens by the day.
Wall Street is concerned for all the right reasons and people in the crypto community that pretend to live in an alternative wonderland will soon feel the gravity of the situation as the big players pull out their investments. ETH/USD has faield so far to break past the support turned resistance at $223. As long as it remains below the 61.8% fib level, the probability of a decline down to the 38.2% fib level remains very high. This would pull the price of Ethereum (ETH) below the psychological support of $200 which would seriously impact the bullish resolve.
The altcoin market risks significant further downside now that we have seen Altcoin dominance (Others.D) break below the 200-moving average on the 12H time frame. This is a big deal as it means that the uptrend that started in August, 2019 in the altcoin market is now likely coming to an end. This could trigger a major sell-off in the near future as the big players realize that the show is over. Retail traders will continue to try and catch the knives as they buy the dips when their favorite altcoins crash only to realize that they keep on falling further.
Ethereum (ETH) and the rest of the altcoin market is still quite overvalued at current prices. The market cap of a lot of cryptocurrency projects makes no sense. This would be the first time that we would see a major correction in the altcoin market. We have seen bear markets in Bitcoin (BTC) before but this would be the first time it happens for a lot of altcoins and ICO projects. The projects that have the best products and dedicated teams would survive but a large number of useless tokens would be wiped off the market. This is a good development considering it will cleanse the market and prepare it for investors with stronger hands and long-term interests to enter the market and grow this industry.
Read more from the original source:
Ethereum (ETH) And Other Altcoins Risk Massive Capital Flight - Crypto Daily
Coins that Pump in the Bitcoin Crash Week Which and Why? – TWJ News
As Bitcoin [BTC] crashed this week, collapsing from 10,000 to 8,569 USD over the last seven days, it dragged the altcoin market in the red zone. While most cryptocurrencies are drenched in the blood-red market, a few altcoins have shown some surges in green.
History has always shown that altcoins have a correlation with Bitcoin when it dumps or pumps the market steadily follows the lead. But in recent times, the market has been changing, with numerous speculations exploding the internet there are many reasons why Bitcoin lost $3000 over the week. From Coronavirus to the ETF application rejection, rumor has it all. Nevertheless, a change in correlation also hints on the maturity of the market.
As the time of press, Bitcoin SV [BSV], Ethereum Classic [ETC], and Kyber Network [KNC] show a 6%, 5%, and, 30% surge, respectively.
Bitcoin SV
As seen in BSVs 24-hours chart, the coin was being traded at $210 before it experienced a sudden surge of $8 and went up to its current price of $227. According to records, 23,148 BSV worth 5,048,170 USD was transferred from an unknown wallet to an unknown wallet.
Speculations suggest that BSV can expect a form of a triple three correction. Anticipating a rise to around $240 before the drop continues.
Ethereum Classic
ETC registered a 14.17% surge this week. With an on-going surge of 5%, the forked has performed better than the current main-chain Ethereum. It was even observed that ETC outperformed ETH with a 160% Year-To-Date return in 2020.
Today [1st March 20], Ethereum Classic showed a consistent rise with a $4 million entering into its market cap. Although, speculations have suggested that this is the time to wait until the sideways range settles.
Kyber Network
Kyber Network ranked as the highest surging asset of the day in the top 50 cryptocurrencies. With rank #45 the token is up by 32.12% in the past 24hours. According to Binance researchers, Kybers progress means this is the most used DeFi project in space, with more than 35,000 users.
Speculations suggest that the hike could be for multiple reasons including its recent listing on Coinbase.
In addition to these assets, Bitfinexs token UNUS LEO, NEO, Bitcoin Gold [BTG], and Augur [REP] were also hiking the green trail.
Go here to see the original:
Coins that Pump in the Bitcoin Crash Week Which and Why? - TWJ News
S&P 500’s decline makes it chart look like that of illiquid altcoins – iNVEZZ
The stock market has seen a major crashfollowing the coronavirus outbreak, causing many to believe that the virusmight be responsible. As the virus continues to spread around the world, thefear of its potential impact is believed to be the main cause of a stock marketdecline, with one of the sharpest ones in history being that of the S&P500.
In fact, many have taken to comparing its crash to that of illiquid altcoins in the crypto industry.
As mentioned, the virus is continuing tospread, and the death toll is rising higher and higher. The development hascaused quite a bit of panic, which is already disrupting the global economy.Manufacturing facilities are shutting down, traveling to the parts of the worldconsidered to be hotspots for infection are severely limited, and the healthofficials are struggling to contain the outbreak.
The financial markets seem to be suffering the consequences as well, with some of the largest companies seeing a drop of nearly 300 points in the US in the past month. The drop has been the sharpest over the past week, causing the stock index to look like a price chart of an illiquid altcoin, specifically an IEO token called Matic.
The token became quite notorious several months back when it went through a major pump-and-dump. Comparing its chart to that of the S&P 500, there are several similarities to be seen. Since Matic crashed a while ago, its performance shows the future of the S&P 500, should the similarities continue.
Another large US stock index, the Dow JonesIndustrial Average, recently triggered a TD 9 buy signal on daily timeframes,and others seem to be ready to follow, including the S&P 500, as well asApple.
Numerous analysts believe that the sharp dropis going to cause and even sharper rebound, with a surprising strength once theperiod of panic passes by. However, this can only take place if the coronavirusoutbreak gets better contained in days to come.
Excerpt from:
S&P 500's decline makes it chart look like that of illiquid altcoins - iNVEZZ
Ethereum (ETH) Bulls Are Quickly Losing Momentum, Is This It For Altcoins? – Crypto Daily
Ethereum (ETH) bulls are losing momentum and the ascending triangle that Ethereum (ETH) seemed to be trading in has now turned into a symmetrical triangle. Furthermore, we can see on the 4H chart for ETH/USD that there is now a bearish divergence and it is only a matter of time before we see the price break out of the symmetrical triangle. The current outlook suggests that it might be a bearish breakout, one that could see the price decline to the 38.2% fib level and potentially much lower from there. The altcoin market might see a lot more pain compared to Bitcoin (BTC) if the cryptocurrency market catches up with the S&P 500 (SPX) and begins to decline more aggressively.
So far, the reaction to the Coronavirus outbreak, a major catalyst that could move markets, had been limited to Asian markets. However, with the recent outbreak in Italy, we are now seeing the world react more seriously to it. This could be the catalyst that we have been looking at that might trigger the next major correction in the stock market. It is very reasonable to think that this is going to be even more brutal for altcoins like Ethereum (ETH). If investors are trying to get out of something like stocks that are backed by well established businesses, they are more likely to get out of something as volatile and risky as cryptocurrencies. The recent move that we see when BTC/USD started the week trading above $10k is the way the market makers and the whales operate to mislead retail traders while they dump on them.
The 4H chart for Ethereum dominance (ETH.D) shows that there is good reason to think that Ethereum (ETH) may be about to head lower considering the manner in which its dominance has been surging the past month. This kind of growth is seldom sustainable and is almost always followed by a brutal correction. In the case of Ethereum (ETH), this might be the beginning of a major trend reversal that could see the price decline much lower in tandem with the stock market.
It is only a matter of time that we see a major correction in the cryptocurrency market. Previously, we expected Ethereum (ETH) to rally towards $300 considering the market had seen a correction and had still not broken the uptrend. While that is still possible, it does not seem very likely now as the S&P 500 (SPX) is reacting more aggressively to the Coronavirus outbreak and the big players in this market are now worried to get their money off the market on time before it is too late. However, their dilemma is that they want to do that without spooking retail traders because they want them to believe that the market is going to a new all-time high before halving while they dump their coins on them.
Continued here:
Ethereum (ETH) Bulls Are Quickly Losing Momentum, Is This It For Altcoins? - Crypto Daily
Bitcoin price Crash and its effect on Altcoins, Ripple, and IOTA course of the analysis, Litecoin to more than 13000 ATMs available & Bitcoin on…
Welcome to our crypto Monday of the week in review the week 9! As usual, this week has again much to report significant and so it is not surprising that we can again come up with a whole range of interesting News for you.Our topics range from the Bitcoin price Crash and its effect on the Altcoins, analysis of the Ripple and the IOTA course, Bitcoin, the Simpsons, to the offensive attack of Litecoin on South Korea.Of course, this was not Far from everything! However, much more is not revealed at this point, because in the Following, we have you in the usual regalia of the Highlights of the last week bit by bit and easily digestible manner.But enough of the Preface. A lot of fun with our crypto Monday of the week in review!Let us know what were for you this week the most exciting, or most important events, and discuss about it with our Community on Telegram.
Bitcoin, crypto-currencies and Blockchain continue to move in the direction of the Mainstream. Not only the media are picking up on Bitcoin and co. again and again, but by now well-known series. So now in a new The SimpsonsEpisode.In the new episode, Jim Parsons explains in a crypto-Tutorial Lisa Simpson, how the Distributed Ledger technology (DLT), and thus, Bitcoin and other decentralized crypto-currencies work. Everything and a part of the scene you can read in this article, or look.
This weeks courses was for the Bitcoin exchange rate and for almost all of the Altcoin is the purest Torture. The Bitcoin price plunged over 10% and has pulled on the way to the bottom of the Altcoin courses. The weeks were before the Crash-more than good. In the first weeks of this year, many Altcoins, Bitcoin to outperform and orderly growth. Also the BTC rate was at the beginning of the year of its positive side. But what is the reason for the recent sale? Well find out in the next few days a new floor in the Bitcoin exchange rate, or we have to adjust to more falling prices? How will behave in the meantime, the Altcoins? We will clarify in this article.
You secure your Bonus in the amount of 112 $Benefit from one of the worlds safest and fastest Trading platforms and give your start-up capital, Boost the Extra! You secure your Bonus in the amount of 112 $, because this offer is only valid for a short period of time. Get your Bonus now!
Love Ripple and XRP interested in paying attention, because this week we have a Ripple rate analysis that, despite the current market situation hope. Currently a bullishes pattern formed on the XRP Chart, this could be the beginning of a much larger upward movement.The XRP price is on the verge of a long-lasting move upward trend? What prices can we expect in the near future?The answers to these questions and more, you can find out in this article.
At the end of this week, we once again have a small market-pushed Update to the IOTA course. In it, we took a brief look at the IOTA Charter, to the current situation reflect around the IOTA course. We, of course, also the question of how far the IOTA course will fall. He is perhaps even currently worth a bet? Could be chosen to be a initial at the moment?The answer to these questions and much more you will learn in this article.
Litecoin has only made on Friday by the HODL mentality of the LTC investors headlines and yesterday there was already something Positive from the Crypto-to report silver. In the future Litecoin will be used, probably even more, as more than 13,000 ATMs in South Korea, LTC withdrawals in Korean Won (KRW) to enable.Why this is an interesting step, South Korea is particularly good at, and what obstacles need to be overcome for this, but still, you can find out in this article.
Trade on the worlds leading Social Trading platform!Join the millions of people who have already discovered how it smarter to invest by copying the best investors in our Community, or be copied and as a result, a second income can be achieved. Start now!
What were for you your personal Crypto-this weeks Highlights? Discuss with us in our Telegram Chat and follow our News Channel!(Image: Shutterstock)
Bitcoin price Crash and its effect on Altcoins, Ripple, and IOTA course of the analysis, Litecoin to more than 13,000 ATMs available & Bitcoin on the Simpsons appeared first on crypto Monday Decoding the Blockchain
Bitcoin, Ether, and XRP Weekly Market Update: March 2, 2020 – BTCMANAGER
The total crypto market cap lost $34.7 billion from its value for the last seven days and now stands at $246.9 billion. The top 10 currencies are all in red for the same time frame with Litecoin (LTC) and Tezos (XTZ) are the biggest losers with 26.5 and 23.1 percent of loses respectively. By the time of writing bitcoin (BTC) is trading at $8,611 while ether (ETH) moved down to $219. Ripples XRP fell to $0.229.
Bitcoin registered one of its best sessions in the last few days and moved up to $9,968 on Sunday, February 23 adding 3 percent to its value.
The new week, however, started with a large selloff in traditional markets, which did not spare digital assets. The BTC/USD pair was rejected hard at $10,000 and erased 3.2 percent before stopping at $9,652.
24-hour trading volumes slightly increased from around $32 billion during the weekend to $38-$40 billion on Monday and Tuesday as more and more positions were liquidated. This, combined with the persisting bear pressure resulted in a sharpdropto $9,298 on Tuesday, February 25. The leading cryptocurrency broke below the $9,500 support zone (Fibonacci 23.60 level) for the first time since February 5.
The mid-week session on Wednesday was no different and BTC formed its third consecutive red candle on the daily chart. It fell below the 50-dayEMAand lost another 5.6 percent of the price while breaking the next obvious support zone $9,150 $9,000, also near Feb 38.20. The most popular cryptocurrency stopped at $8,775 and found support at the 200-day EMA.
On Thursday, February 27 bitcoin was again highly volatile. It was moving in the $8,975 $8,531 zone and ended the day with a small gain to $8,813.
The coin continued to slide on the last day of the workweek and fell down to $8,693. Bears manage to push price all the way down to $8,400 during intraday, but the level, in combination with the mid-term uptrend line provided the necessary support.
On the first day of the weekend, the BTC/USD pair made one step back and registered yet another losing session, this time closing at $8,517. It was 9.4 percent down for the month of February.
On Sunday, March 1, the price of BTC remained unchanged after bears made another attempt to break the $8,400 line.
The Ethereum Project token ETH climbed up to $275 on Sunday, February 23 and bulls were getting ready to test the important resistance line.
The leading altcoin opened the new trading period on Monday by following the general crypto trend. The coin closed the session at $265 after falling as low as $255 during intraday.
On Tuesday, February 25, the ETH/USD pair continued to slide and reached $246 while losing 7 percent of its value. It broke below the $250 support and did not stop in front of the Fibonacci 23.60 line at $247.
The ether nosedived to $221 in the first half of the day on Wednesday smashing through both the $230-$225 support area and Fibonacci 38.20 level at $222 to reach $214. The $222 mark was a long-standing support/resistance in the last few months. The coin managed to recover some of the losses in the late hours of trading and ended the day at $223, above the already-mentioned line.
The fourth session of the week was somehow positive for bulls as their favorite coin took a break and climbed up to $239 during intraday, closing the day with a small gain to $227.
We saw no changes in price on Friday, February 28 as the ETH/USD pair remained flat in the support area.
The first day of the weekend came with another drop, this time to $217. The ether bulls were not able to defend the $222 line, still, it closed the second month of the year with a 21 percent increase.
On Sunday, March 1, it lost $1 of its value and closed the week with a 21 percent loss.
The Ripple company token XRP reached the support zone around $0.28 on Sunday, February 23 and closed the week 2.7 percent lower compared to the previous seven-day period.
It opened trading on Monday by suffering a hard rejection around the $0.285 level (Fibb 38.20 line on our chart). The XRP/USD pair lost 5.6 percent of its value and dropped all the way down to the next support zone $0.265.
On Tuesday, February 25 we saw the coin breaking below the 50 percent Fibonacci around the above-mentioned mark. The 50 and 200-day EMAs were also left behind as we closed at $0.252.
Another 9 percent of the price were erased during the mid-week session on Wednesday. The ripple continued to slide and formed its third consecutive red candle on the daily chart dropping to $0.22.
On Thursday, February 27 the XRP token found support around $0.22-$0.23 (right at the meeting point of the mid-term uptrend line and the horizontal support) and started to pick up the pace. The major altcoin ended the session at $0.238 in the evening after it peaked at $0.248 during intraday.
The last day of the workweek came with another volatile session during which we saw the price of the XRP/USD pair moving up and down in the $0.228-$0.243 area. It registered a small loss to $0.236.
The weekend of February 29 March 1 started with yet another test of the current support level. The coin closed the day and the month at $0.228 but managed to keep above the mid-term uptrend line started on December 18 when we bottomed at $0.172.
On Sunday, March 1, the coin made another step back, this time to $0.226 and ended the seven-day period with a 20 percent decrease.
Our altcoin of the week is Kyber Network (KNC). This token is one of the few projects to register positive results for the seven-day period.
KNC added 28 percent to its value and is also 78 percent up for the last two weeks.
It registered a new 18-month high and peaked at $0.85 on Sunday, March 1.
The Kyber Network currently stands at #44 on CoinGeckos Top 100 chart with a total market capitalization of approximately $133 million.
As of the time of writing, it is trading at 0.00008285 against BTC on Bitfinex daily chart.
Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4
View post:
Bitcoin, Ether, and XRP Weekly Market Update: March 2, 2020 - BTCMANAGER
This Crypto is Positioned for an Insane Rally as it Reaches Key Resistance – Ethereum World News
The month of February has been great for altcoins, with many smaller cryptos seeing intense upwards momentum that has allowed some to set fresh all-time highs, while others post significant gains against Bitcoin.
This upwards momentum seen amongst many altcoins has led investors and analysts alike to grow increasingly keen on finding the next altcoin that will see a face ripping rally, and some analysts believe that Algorand could be this crypto.
One top trader is noting that ALGO recently rallied up to a key level that bulls are currently attempting to close above, suggesting that it could soon rally.
At the time of writing, Algorand is trading up just under 1% at its current price of $0.45, which marks a notable climb from weekly lows of $0.30, and only a slight decline from highs of $0.49 that were set just a couple of days ago.
This volatility has come about after the token saw a quiet start to the year, with its slow uptrend turning parabolic in late January when it rallied from $0.25 to its recent highs.
This uptrend has shown signs of being similar to that seen by Chainlink, Ethereum, and Tezos, at the early stages of their intense multi-week parabolic runs.
This has led some analysts, including The Crypto Dog, to question whether ALGO is the next XTZ.
It does appear that the crypto is bound to see further near-term gains, as its buyers are currently attempting to hold it above the upper boundary of a wide trading range that it has been caught within for months.
Bagsy, a prominent trader, spoke about Algorand in a recent tweet, telling his followers that it appears to be ready to run assuming that its bulls are able to hold it above this level before its daily close.
ALGO update: No pullback, bulls fighting to close above former range high. This looks about ready to run, he explained.
If Bitcoin continues to remain in a firm uptrend, it is probable that smaller cryptos will have further room to run, and the technical strength currently surrounding ALGO seems to suggest it will see some intense momentum.
Originally posted here:
This Crypto is Positioned for an Insane Rally as it Reaches Key Resistance - Ethereum World News
5-year altcoin exchange says goodbye: It will close in 10 days – Somag News
Launched in 2015, Trade Satoshi closes as of March 1, after nearly 5 years of activity. The crypto currency exchange Trade Satoshi, which opened in October 2015, has decided to terminate its operations.
In the official statement made by the stock exchange today, it was stated that the tradesatoshi.com board decided to close the stock market and it is no longer economically feasible to continue to provide the necessary security, support and technology.
It was noted that when the users were warned not to deposit money on the stock exchange, all services would be terminated by March 1, 2020.
Commenting on the issue, Binance CEO Changpeng Zhao said, The stock market is probably one of the most difficult jobs to continue. One of the most difficult aspects is the economy of scale. Without doing this, you cannot invest in security and many other issues, and there is no point in continuing. I hope everyones money is safe in this case. said.
Trade Satoshi was a stock exchange that stood out with alternative cryptocurrencies rather than Bitcoin.
View original post here:
5-year altcoin exchange says goodbye: It will close in 10 days - Somag News
Crypto Analyst: Evil Whales Behind Bitcoin, Ethereum, EOS and Altcoin Market Rallies in 2020 – The Daily Hodl
Crypto analyst Jacob Canfield thinks that criminals from China and Korea are behind a crypto Ponzi scheme driving the bullish price trends of Bitcoin, Ethereum, EOS and the greater altcoin market.
The infamous scam PlusToken launched in 2018, promising investors high-yield returns from exchange profit, mining income, and referral benefits. It reportedly drew in three million registered users.
The organizers of the scam initiated an exit strategy in June of 2019, stealing an estimated 90,000 to 200,000 Bitcoin (BTC), 790,000 Ethereum (ETH) and 26 million EOS.
Now, after multiple accusations that PlusToken scammers have sold Bitcoin and driven the price down, Canfield says he believes the thieves may be re-entering the world of crypto, manipulating the market and steering the bullish rally of 2020.
They are sitting currently around $600 million worth of capital cash, and it was done on what we believe was Huobi and OKEx exchanges which are in China, and the problem with Huobi is the order books are closed so you cant really view them or see them.
If theyre using their capital to push the Ethereum market, they can use $100 million, $200 million and push Ethereum back to 300, 500, 600, 900, 1,000, and then theyre going to get a much bigger bang out of their buck.
With the stack of cash they may have accumulated, Canfield says the scammers are now more than capable of rigging the market.
A lot of analysts, a lot of really smart analysts believe that PlusToken was the real big catalyst of why Bitcoin went from $3,500 all the way up to $14,000. Now, how does that work? When all of these people are buying Bitcoin, thats removing Bitcoin from the circulating supply, so its artificially removing over 1% of the circulating supply of Bitcoin.
Its creating artificial FOMO, that fear of missing out on Bitcoin. You see two things. You see your reduced supply, but you also see an increased demand, and thats the economics of what moves the market. You also add in the derivatives market wherein in 2018, when we saw that massive drop in the start of 2019, we saw shorts at an all-time high because they believed that was going to go all the way down back to $1,000. So when we broke out 4,000 and all of these people are FOMO-buying Bitcoin, Ethereum and EOS to try and get into these markets, it creates artificial buying pressure.
Canfield also cites Google Trends which shows that searches for Bitcoin have not increased at the same pace as the price of BTC. He says that indicates something is amiss with the current price trends in cryptocurrency relative to peoples interest in the king of crypto.
This was not retail FOMO it was a very small part of it. This was artificial buying pressure because of this PlusToken scam.
In June of last year, six Chinese nationals accused of participating in the scam were arrestedin the South Pacific island nation of Vanuatu.
Despite the arrests, there have continued to belarge movementsof BTC with suspected links to the alleged crypto Ponzi scheme.
Featured Image: Shutterstock/Tithi Luadthong
Follow this link:
Crypto Analyst: Evil Whales Behind Bitcoin, Ethereum, EOS and Altcoin Market Rallies in 2020 - The Daily Hodl