Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Opinion
XRP/BTC Anlysis: Bearish Trends in Bullish Structures
XRP/BTC is reaching the later stages of a wedge formation but has recently hit strong resistance. This resistance has come in the form of the 50, 100, and 200 DMAs and the descending wedge's upper boundary. XRP/BTC Daily 1 Price is currently falling like a knife, smashing through any effort to support price at the 2740 satoshi mark. This is the unfortunate conclusion of a small bull run after price broke through the local range top at 2740 sats on…
5 years ago
The Distribution of Top Cryptos and Tokens among Crypto Whales
Recently, a report by Clovr indicated that a small group of crypto whales hold the majority of the top cryptos. The report also pointed out that Whales are also in charge of exchange wallets and loads of tokens. Top assets with a remarkable wealth distribution program have over 70% of their supply with top wallets. All of these tokens have a relatively small market capitalization of $ 100 million or less. Every asset possesses different risks of top-heaviness, and a…
5 years ago
Bitcoin Holds Bullish Market Structure
BTC/USD Daily 1 Despite BTC/USD’s drop below $6.5K earlier this week, price continues to oscillate within a bullish market structure, defined by the descending channel. Having found support on the channel's lower bounds at $6.4K, a relief bounce of 15% to $7.4K followed. At the moment, BTC/USD sits above a key pivot zone, which served as a support level in the bear market. This range lies between $6.1 and $6.8K and should act as a strong demand area, especially considering…
5 years ago
Will Bitcoin Have an Upsurge To Over $ 7500?
On the 12th of December 2019, Bitcoin’s price rose to over 10%. However, it is signaling a powerful reversal, but BTC needs to keep surging to over $ 7500 for the beginning of a giant rally. Bitcoin price moved from $ 6600 to $ 6500 and recorded a decline of $ 100. There was the formation of a fresh low in the month close to $ 6435, prior to a powerful reversal. The BTC price eventually moved close to $…
5 years ago
Analyzing the Upsurge and Decline of Bitcoin’s Price This December
On the 19th of December, Bitcoin recorded a 14% surge. At the beginning of the third week of December, the bitcoin price dropped by 8.5% from $7100. It then declined to $6500, and as analysts looked forward to further decline, BTC eventually surged a whopping 14% to attain $7450. The 14% surge is the largest since the rise of Bitcoin, influenced by China in late October 2019. Bullish sentiments do not characterize Bitcoin markets; analysts suggest a short-term decline of…
5 years ago
Bitcoin Bears Rule as the Bulls Try to Keep It Afloat
The BTC / USD price is gradually approaching critical support. Bitcoin bears will need supplies once the price reaches the support zone around $ 6,200. Prices closed at $ 7,000; they continued to decline. The price hit levels below the $ 6,800 support zone, well below the hourly 100 SMA. The decline continued to push the price towards the $ 6,600 support level near the $ 6,500 support zone and made new lows near $ 6,565 during the month. Price…
5 years ago
Breakdown of Money Laundering in Traditional Banking and Digital Currency
Laundering money through traditional banking systems has become a common practice over the years. A report released by the United Nations office on drugs and crime gives an account of unlawful bank transactions valued in trillions being carried out through the networks of traditional banks in a year. However, when it comes to Bitcoin, there is a general belief that it is the preferred platform for criminals and con artists to carry out illicit transactions. Even so, the number…
5 years ago
Bitcoin’s Finite Supply May Limit Its Growth, Says Changpeng Zhao
Towards the end of the year, the CEO of Binance, Changpeng Zao, pointed out in a tweet that Bitcoin’s price potential is limitless. Bitcoin is one of the mainstream cryptocurrencies worldwide. Changpeng Zhao is of the opinion that the finite supply of Bitcoin dramatically contributes to its erratic nominal price. Changpeng also believes that Bitcoin has infinite potential over fiat currencies. The only thing limiting bitcoin is its limited supply. https://twitter.com/cz_binance/status/1206416065095299073 Bitcoin’s Volatility There’s no assured prediction of Bitcoin prices.…
5 years ago
Cardano Releases Its Incentivized Testnet Showing Great Promise
On the 16th of December 2019, Cardano incentivized testnet went live. In less than 24 hours, 5.4 ADA already got staked by holders, representing 17% of the total coin supply. Even though IOHK operates some of the leading pools, several independent pools are also topping the pool tool charts. This significant step envisions Cardano to achieve decentralization through supporting a large number of staking pools. As per the project’s roadmap, the blockchain’s incentivized staking system will reach equilibrium at 1000 pools.…
5 years ago