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…
News
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
U.S Federal Officials Link 50% of BTC Transactions to Malicious Activities.
Concerning the insight individuals have concerning cryptocurrency and Bitcoin, most people conclude a lot of beliefs and primarily consider their use in illicit activities, especially by criminals. Based on the analysis by a governing member of the Federal Reserve in the U.S., his thoughts on the matter suggest a ratio of one in four users of BTC utilize the service in conducting illegal activities. During an event on December 18, Lael Brainard indulged in commenting about the risks presented by…
5 years ago
Claims of BTC in Full Bear Market
As the BTC/USD prices change, most participants in the market perceive different conclusions concerning the general BTC performance. According to Alex Kruger, the current perception that the bitcoin illustrates a bullish market was completely wrong, concerning its ability to maintain a declining value under $6,400. This followed the perceived decrease in bitcoin prices under $6,800 and focused on receiving assistance at values between $6,500 to $6,200. Expressions by Kruger show his insight towards the halving events of BTC, and he…
5 years ago
Kraken Exchange Acquires the Once-Powerful Circle’s OTC Desk
Founded in 2013, the San Francisco-based cryptocurrency exchange Circle is one of the earliest digital assets players. The OTC office once got recognized as one of the most profitable companies on the market. On 17 December, Kraken confirmed its purchase of Circle's over-the-counter office. In a blog post announcing the move, Circle co-founders Jeremy Allaire and Sean Neville confirmed the firm's OTC business's sale to Kraken. They stated that they have known and admired Jesse and his team at Kraken…
5 years ago
XRP Trades Under Support Levels on a Multi-month Basis
Over the last few weeks, Bitcoin's price and most of the Altcoins have continued to fall. Meanwhile, XRP has priced below the primary support levels of $ 0.220 and the 100 Simple Moving Average (4 hours). Hence, it paved the way for further losses below $ 0.210. The price finally sampled the core maintenance area near the $ 0.200 level and the crucial multi-month maintenance near the $ 0.198 level. XRP price fell significantly, even falling below the $ 0.180…
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