Monthly Archives: October 2020

Bitcoin breaks above $12.3K after PayPal says Venmo will become a BTC wallet

Bitcoin (BTC) gained almost 5% on Oct. 21 as bullish price action combined with fresh corporate adoption news to boost gains. Cryptocurrency market daily performance overview from Coin360 PayPal takes BTC price to $12,400 Data from Cointelegraph Markets and Coin360 showed a strong 24 hours for bulls on Wednesday, with BTC/USD topping out at $12,400. At press time, $12,300 formed the focal point, around an hour after Reuters reported that payment giant PayPal plans to support Bitcoin and other… Source link

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Bitcoin trader shares 7 reasons to be bullish on BTC beyond $12K

Bitcoin (BTC) abandoning correlation with traditional markets will be its “biggest story” if it continues, one popular analyst says. In a series of tweets on Oct. 21, Cole Garner highlighted Bitcoin’s market decoupling among bullish price factors. Garner: Decoupling will be crypto’s “biggest story” Garner retweeted a chart of Bitcoin, gold, the S&P 500 and Ether (ETH), which shows Bitcoin striking out on its own, delivering positive returns while other assets floundered. The chart Source link

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Is This When To Buy Bitcoin, Ethereum, Litecoin, Ripple’s XRP, Chainlink, And Other Cryptocurrencies?

Bitcoin has climbed this week, boosted by remarks made by the chairman of the Federal Reserve, Jerome Powell, on digital currencies and by renewed hopes of a fresh stimulus deal. The bitcoin price has climbed above $12,000 per bitcoin for first time since mid-August and is nudging its year-to-date highs. However, bitcoin’s rally has failed to boost other major cryptocurrencies, including ethereum, Ripple’s XRP, litecoin, chainlink. Now, researchers have identified what’s really driving… Source link

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Is This When To Buy Bitcoin, Ethereum, Litecoin, Ripple’s XRP, Chainlink, And Other Cryptocurrencies?

Bitcoin has climbed this week, boosted by remarks made by the chairman of the Federal Reserve, Jerome Powell, on digital currencies and by renewed hopes of a fresh stimulus deal. The bitcoin price has climbed above $12,000 per bitcoin for first time since mid-August and is nudging its year-to-date highs. However, bitcoin’s rally has failed to boost other major cryptocurrencies, including ethereum, Ripple’s XRP, litecoin, chainlink. Now, researchers have identified what’s really driving… Source link

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3 Reasons Ethereum Is Dropping While Bitcoin Rallies

The price of Bitcoin (BTC) has been rallying strongly while Ethereum (ETH) and other large-cap alternative cryptocurrencies (altcoins) have slumped. In previous bull cycles, ETH front ran BTC, not the other way around. The current market dynamics are uncanny because Bitcoin has been solely increasing in price, while the cryptocurrency market stagnates. In fact, major altcoins, including Ethereum, have been dropping in value against both BTC and the U.S. dollar in the past nine days. … Source link

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Bitcoin average transaction value increases 500% since July

The average value of Bitcoin (BTC) transactions has increased dramatically since July this year.  The average transaction value was sitting at approximately $25,000 per transaction four months ago, but posted a yearly high on Oct 20 at $151,000 per transfer — representing an increase of more than 500%. Average Bitcoin transaction value. Source: BitInfoCharts The latest spike, as shown by crypto analytics platform BitInfoCharts’ data, saw the average value of a transaction increase almost… Source link

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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 21st, 2020

Ethereum Ethereum slid by 2.82% on Tuesday. Reversing a modest 0.21% gain from Monday, Ethereum ended the day at $368.81. It was a mixed start to the day. Ethereum rose to an early morning intraday high $380.90 before hitting reverse. Falling short of Monday’s high $384.69 and the first major resistance level at $385.07, Ethereum fell to a late intraday low $364.04. Ethereum fell through the first major support level at $373.27 and the second major support level at $367.18. More significantly,… Source link

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Bitcoin price rally to $12K is meaningless until bulls flip it to support

On Tuesday Bitcoin (BTC) bulls mustered enough strength to push BTC price slightly above the $12K mark, a level not seen since Sept. 1.  Cryptocurrency daily market performance snapshot. Source: Coin360 The move occurred after Monday’s (Oct. 19) high volume surge to $11,822 was followed by continued buying into Tuesday, providing enough momentum for bulls to push above the ascending channel to $12,038. BTC futures volume by exchange. Source: Digital Assets Data The rally to $12K was also… Source link

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Study finds CME drives Bitcoin price, but it excludes stablecoin volumes

On Oct. 14, Wilshire Phoenix investment firm released its Efficient Price Discovery report, which detailed how CME Bitcoin (BTC) futures impact Bitcoin price discovery. The firm concluded that “CME Bitcoin futures contribute more to price discovery than its related spot markets.” And the researchers also suggested that: “CME Bitcoin futures have grown to become significant, this is not only demonstrated through trading volume and open interest, but also by influence on spot price… Source link

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