Bitcoin Dominance, at the time of writing, had dropped a little over the last 24 hours, with the same observed to be at 65.05%. As far as the market’s alts were concerned, while Monero exhibited a bearish divergence, NEM was trading under a strong level of resistance after recovering with strength over the past few days. Finally, VeChain broke out of a descending channel and it could see a minor pullback on the charts. Monero [XMR] Source: XMR/USDT on TradingView XMR rose past its level of… Source link

Bitcoin has had a big year so far (and 2021 could be even bigger). Bitcoin’s more than doubled in price through 2020 and this week surpassed its 2017 market capitalization, the combined value of all minted bitcoin tokens. The bitcoin price has added almost 50% this month, shooting toward its all-time high of around $20,000 per bitcoin and pushing its market cap briefly over $350 billion, spurred on by a wave of institutional interest in bitcoin. Bitcoin traders and investors are now… Source link

Ethereum, Ripple’s XRP, litecoin and chainlink are the world’s biggest cryptocurrencies after bitcoin and they’ve suddenly soared this week. Ethereum, XRP, litecoin and chainlink, with a combined market value of around $100 billion, have each added between 20% and 50% this week—outpacing even bitcoin’s rally. While ethereum, XRP, litecoin and chainlink have been boosted by bitcoin’s growing reputation as digital gold through 2020, other cryptocurrency trends have also pushed them up. … Source link

The price of Ether (ETH), the native cryptocurrency of Ethereum, has surpassed $547. Following the breakout, traders are pinpointing several key resistance levels in the near term. In the short term, traders generally foresee $600 as the major resistance area for Ether as it marked the beginning of a bearish trend starting in May 2018. As such, $600 could act as an area of interest for sellers. But, traders also believe that if Ether surpasses $600, it would likely enter the $700 to $900… Source link

This week Bitcoin (BTC) price rallied to a new 3 year high at $18,965, leading investors to believe a new all-time high above $20,000 is on the cards.  While these are exciting times, data does show that some professional investors feel antsy about the price at these levels and the absence of retail FOMO has some calling for a sharp pullback. Data shows Bitcoin hasn’t seen a drop larger than 5% since Sept. 4 and over the past 77 days the digital asset has gained 84%.The last time similar… Source link

Nicolas Economou/NurPhoto via Getty Images Bitcoin is not a fad that will fade away, said Michael Sonnenshein, managing director of Grayscale Investments. Investors understand that “buying Bitcoin and putting it in their portfolio is meant to be a store of value, inflation hedge, a digital gold, a digital form of money,” Sonnenshein told Business Insider. Investors should not get hung up over the fact that there are only 21 million Bitcoin that will ever exist, because each coin… Source link

In brief Ethereum mining difficulty today hit a two-year high. It measures how hard it is to find mine blocks on the Ethereum blockchain, which are required to process Ethereum transactions. The mining difficulty increase follows its booming price. Ethereum’s mining difficulty today hit a two-year high. Mining difficulty on the Ethereum blockchain jumped to 3,650 terahashes at around 11:15 UTC today, its second-highest level ever, data from market analytics firm Glassnode shows. By a… Source link

Bitcoin topped $18,600 on Friday, continuing a vertical climb that accelerated in early October. The largest digital currency by market cap is up 160% in 2020, and up 190% since March 15, following a crash in the second week of March that saw the price drop 25%. Now it’s not far from its all-time-high of around $19,800 toward the end of December 2017. Bitcoin (BTC) bulls are hoping this time is different. And it is, judging by the breathless media coverage and general mania: there isn’t… Source link

A pullback in the price of Bitcoin (BTC) is likely, based on several on-chain data points, namely the Spent Output Profit Ratio (SOPR) indicator, stablecoin inflows, stacked sell orders at $19,000, and the Crypto and Fear Index. However, the question remains when that correction would occur. Profit-taking pullback possible with lower buy pressure The  SOPR indicator essentially gauges how profitable Bitcoin holders are at the moment. When the SOPR is high, BTC is at risk of a profit-taking… Source link

Disclaimer: The findings of the following article attempt to analyze the emerging patterns in Litecoin’s long-term market and its impact on the price Litecoin’s market has been peaking lately, like most of the altcoin market. In fact, the price of the digital asset rose close to the resistance at $85.10, with the same also re-visiting the price levels last seen in February 2020. With the cryptocurrency’s price testing the resistance at the current level, a short position could be… Source link