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…
Bitcoin
BTC Price Predictions By Analyst Dave the Wave
In June 2019, the BTC price surged to over $ 10 000, and a large number of traders even expected further increase. Nonetheless, Dave the Wave, an analyst, called for the return of rationality to the crypto market, based on claims that the uptrend of $10 000 represented overextension of Bitcoin’s long-term growth curve. The analyst maintained that the BTC price is positioned to revisit $6.7K. The analyst forecast proved correct as the BTC price declined from $8K to $6.7K.…
5 years ago
The Real Bitcoin – A Beginner’s Guide to Avoiding Confusion Surrounding Bitcoin
Cryptocurrency started with Bitcoin. Bitcoin is a decentralized payment mechanism that began in 2008. This first-ever decentralized digital currency base was backed by nothing but the Bitcoin network participants' mutual trust. The Bitcoin protocol was designed to be free from tampering with the source code. Thus, no single participant can act against the network, nor can he deny the user to the network in any way. This made Bitcoin the first in a series of 'Borderless transparent mutual censorship-resistant immutable' mediums…
5 years ago
ECB’s Report On Its CBDC Development
In December 2017, the ECB released a new report, with the title “Exploring anonymity in central bank digital currencies.” This report provides detailed information about the way CBDC could function. The CBDC research has a motive for contributing to the broader discussion of central bank chains. The CBDC concept utilizes many features established by R3 and Accenture, and the network gets referred to as Eurochain. The Eurochain report’s content includes the hypothetical network’s benefits and the discussion on how anonymity…
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
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
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