Market Still in Good Position; Real Crypto Volume 2x Larger

Twitter Facebook LinkedIn In an interview on CNBC Crypto Trader hosted by Ran Neuner, Binance CEO Changpeng Zhao (CZ) stated that the crypto market and Binance are still in a good position even after nearly a year of downward price movement. Binance Maintaining Healthy Business Over the past 11 months, the cryptocurrency market has lost more than 70 percent of its valuation amidst the fourth biggest correction in its 10-year history. CZ stated that the volume of Binance is down nearly 90 percent since January due to the correction and…

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$20 Trillion US Debt Will Inevitably Lead to Big Crypto Boom: Voorhees

Twitter Facebook LinkedIn ShapeShift CEO Erik Voorhees has said that the growing debt of the US, which hovers at around $21.7 trillion as of November, will inevitably cause a big spike in crypto. “When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.” Voorhees suggested that to repay the national debt, the government and the federal reserve will be forced to…

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Crypto Market Recovers From Pullback, But Bitcoin Momentum is Weak

Twitter Facebook LinkedIn The cryptocurrency market has started to recover gradually from a major pullback, which occurred following a substantial 40 percent increase in Bitcoin Cash (BCH) and a surge in the price of several other major cryptocurrencies. Over the last 24 hours, the valuation of the cryptocurrency market has increased from $211 billion to $213 billion, by less than one percent. Some cryptocurrencies including Ripple (XRP) and Ethereum (ETH) have started to demonstrate momentum, both recording around a 2 percent rise in value on the day. The volume of…

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Bitcoin ETF Could Attract Billions in New Investment: VanEck

Twitter Facebook LinkedIn A bitcoin ETF could attract billions of dollars in new investments, so the Securities and Exchange Commission (SEC) should treat pending proposals as an opportunity to regulate the crypto market, said crypto exchange-traded fund advocate Gabor Gurbacs. Gurbacs, the director of Digital Assets Strategy at VanEck, made this claim during an interview with CNBC Africa’s Crypto Trader. The comments came in the wake of VanEck’s persistent requests to the US securities regulator to approve their bitcoin ETF proposals. The SEC so far has rejected nine similar proposals,…

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Price Rejects Bulls as Downside Correction Extends

Twitter Facebook LinkedIn Bitcoin on Friday suffered a circa 1 percent loss against the US Dollar owing to an extended bearish correction. The BTC/USD pair is now trading at 6340-fiat, 2.70 percent down from the November’s top at 6516-fiat. The 100-period simple moving average resistance discussed in our previous analysis has fared strongly for the fourth time. The strong pullback action from that level could undoubtedly allow the price to form downside targets towards 6203-fiat, vital support in the medium-term. SOURCE: TRADINGVIEW.COM A breakout action above 100-period SMA puts sights…

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$6 Billion Wiped Out of Crypto Market in 48 Hours: Where to Next?

Twitter Facebook LinkedIn Over the last 48 hours, since November 7, the global crypto market has lost $6 billion of its valuation as it dropped from $220 billion to $214 billion, while Bitcoin remained stable. On November 6, major cryptocurrencies including Bitcoin Cash (BCH), Ripple (XRP), Ethereum (ETH), Stellar (XLM), and Cardano (ADA) recorded large gains in the range of 5 to 30 percent, as BCH surged by around 40 percent within a two-day span. Subsequent to demonstrating a significant increase in value, most major cryptocurrencies retraced, which was expected…

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Price Eyeing Bearish Reversal from 100-Period SMA

Twitter Facebook LinkedIn The bitcoin-to-dollar exchange rate has dipped close to 1 percent on Thursday, now trading at 6470-fiat. The outcome of the US midterm elections with Democrats sweeping a sharp win in the House had certainly shaken the US dollar yesterday. The greenback nevertheless sustained its overall bullish momentum ahead of the Federal Reserve policy meeting today. It looks to hold on to its crucial supports owing to optimistic wage, price, and labor market data. Bitcoin, at the same time, could find it difficult to push through its critical…

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Why Bitcoin is Primed for a Christmas Surprise

Twitter Facebook LinkedIn Nearly 11 months into a bear market that has seen the bitcoin price take a two-thirds haircut from its all-time high, the flagship cryptocurrency could be on the verge of a year-end rally. Mati Greenspan, senior market analyst at eToro, has been watching for a bitcoin breakout for some time now, and he said in market commentary made available to CCN that there are early indications that cryptocurrencies will see a “Santa Claus rally” heading into the new year. “In traditional markets, it’s very common to see…

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Price Above $6500 Resistance post US Midterm Elections

Twitter Facebook LinkedIn Bitcoin on Wednesday challenged new highs as price against the US Dollar surged 1.42 percent within a few hours. CHART FROM TUESDAY NOVEMBER 7, 2018 | SOURCE: TRADINGVIEW.COM The BTC/USD pair built upon the near-term bullish scenario after breaking above the interim resistance explained in our previous analysis. A breakout action above 6421-fiat started attracting long positions towards 6500-fiat as the primary upside target. The pair rallied and established a new intraday high towards 6515-fiat before retreating across the exchanges. It is now trading at 6507-fiat. The…

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Crypto Market Surges in Daily Volume to $13 Billion, Renewed Optimism

Twitter Facebook LinkedIn Over the past three days, the volume of major cryptocurrencies and the rest of the crypto market has increased substantially, from around $10 billion to $13 billion. Bitcoin, in particular, has seen a large increase in volume from $3.1 billion to $4.3 billion within a week, by more than 40 percent. Led by the positive price movement of Bitcoin and its noticeable increase in volume, the value of other major cryptocurrencies like Stellar (XLM), Cardano (ADA), and Tron (TRX) has increased by the range of 3 to…

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