Bitcoin price is stuck near the USD 36,000 level. BTC is facing many major hurdles near USD 37,500 and USD 38,000. It is currently (12:10 PM UTC) showing a few positive signs, but it must settle above USD 38,000 for a sustained upward move. Besides, most major altcoins are gaining pace. ETH broke the USD 2,800 resistance and the bulls may soon attempt a break above USD 2,850. XRP/USD is consolidating and it might clear the USD 1.0 resistance zone. Total market capitalization Source: Source link

Scams are running rampant in the cryptocurrency markets as a huge rally in bitcoin, a lack of regulation and the anonymity of digital money have created a ripe environment for fraudsters. Consumers reported losing nearly $82 million to crypto scams during the fourth quarter of 2020 and first quarter of 2021, more than 10 times the amount from the same six-month period a year earlier, according to the Federal Trade Commission. From October to March, the price of bitcoin jumped 450% to nearly… Source link

Bitcoin Bitcoin, BTC to USD, rose by 0.48% in the week ending 6th June. Following a 2.50% gain from the previous week, Bitcoin ended the week at $35,780.0. A mixed start to the week saw Bitcoin fall to a Sunday intraweek low $34,160.0 before making a move. Steering clear of the first major support level at $32,362, Bitcoin rallied to a Thursday intraweek high $39,482.0. Falling short of the first major resistance level at $39,875 and $40,000 levels, Bitcoin fell back to sub-$35,000… Source link

Bitcoin (BTC) moved incrementally last week, opening and closing near the same price of $35,700. Technical indicators and the price action are providing mixed signs. However, the wave count is leaning bearish. Bitcoin consolidates Bitcoin experienced some volatility last week, moving from a low of $34,153 to a high of $39,476. However, both the opening and close prices were near $35,700, creating a doji candle in the weekly time frame. Technical indicators in the weekly time frame are bearish…. Source link

Ethereum Ethereum rose by 3.10% on Sunday. Reversing a 2.28% fall from Saturday, Ethereum ended the week up by 13.54% to $2,710.97. A mixed start to the day saw Ethereum fall to an early morning intraday low $2,615.00 before making a move. Steering clear of the first major support level at $2,516, Ethereum rose to a late morning intraday high $2,745.36. While falling short of the first major resistance level at $2,780, Ethereum tested resistance at the 38.2% FIB of $2,740 before easing back. The… Source link

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Ethereum network fees have fallen to their lowest levels this year as the crypto markets continue to consolidate. One of the few advantages of a down-trending market is a decline in demand for Ethereum and the resultant drop in gas fees. According to BitInfoCharts, the average transaction fee on the Ethereum network has fallen to $3.70 — its lowest level since the end of December 2020. The gas slump comes less than a month after average fees for transactions hit an all-time high of $70. This… Source link

Bitcoin’s strongest narrative is “digital gold.” Investors buy it not out of an expectation that it will behave like gold behaves in the market today, but that it will some day take on the historic importance that gold has held across cultures and ages. My colleague George Kaloudis recently reminded me that there’s one important aspect in which bitcoin will never be like gold: In a vault or in the ground, gold will always be gold; bitcoin, however, is a technology, and a technology… Source link

El Salvador’s President Nayib Bukele delivers his annual address to the nation before Congress, in San Salvador on Tuesday. On Saturday, Bukele said he will propose legislation that would make Bitcoin legal tender. Salvador Melendez/AP hide caption toggle… Source link

Tesla TSLA billionaire Elon Musk, after helping the bitcoin price reach never-before-seen highs this year with a $1.5 billion bet on bitcoin, appears to have abandoned the cryptocurrency for ethereum and meme-based dogecoin. “I pretty much agree with Vitalik,” Musk posted to Twitter this week, replying to a wide-ranging YouTube interview with the ethereum cofounder Vitalik Buterin by AI researcher and podcaster Lex Fridman. In the interview with ethereum’s de facto leader, Fridman… Source link