What happened: Following four days of upward momentum traders are now looking to see how the price of Bitcoin (CRYPTO: BTC) will react as it nears a test of the 50-day exponential moving average. The price of the cryptocurrency dropped below the key average in May of this year and the level (currently $35,115) has now become resistance. Previous attempts to reclaim the 50-day EMA as support have failed since the price of BTC plunged from an all-time high of almost $65,000 in mid-April. Why… Source link

Top crypto analyst Nicholas Merten is mapping out bullish scenarios for UNI, the native cryptocurrency of the decentralized exchange Uniswap.   In a new video, Merten tells his 463,000 YouTube subscribers that UNI/Bitcoin is currently bouncing from a key support level. “Uniswap has been generally holding, albeit for a few exceptions where the wicks break a bit lower. Every time we get towards this range [0.0005 Bitcoin (BTC) or $16], buyers come in. Price doesn’t live below… Source link

I’ve never quite understood why cryptocurrencies are worth anything. Of course, the untraceable payments are worth a lot to ransomware hackers, cyber criminals and money launderers. But dollars, euros and yen are backed by nations’ respective treasuries. If someone invents a crypto currency, any value is based solely on convincing others it has value. But is it a usable means of exchange? International banking officials say cryptocurrencies such as Bitcoin are speculative assets, not… Source link

Litecoin, the silver to Bitcoin’s gold, has seen its own share of ups and downs this year. Not long ago, Litecoin had cemented a position for itself in the market’s top-10. Over the past few weeks, however, its ranking has dropped significantly. In fact, at the time of writing, LTC was ranked 13th on the charts. The alt’s value fell by 6% over the past month and by 43.57% over the last 3 months. Now, it is a known fact that silver tarnishes with time, but is the same happening with Source link

Litecoin whales holding 1k to 100k LTC have increased their holdings by 270k in the month of July Unique addresses on the Litecoin network have also grown by 47.5% in the last 10 days Litecoin’s on-chain metrics are bullish. However, LTC’s fate is tied to Bitcoin’s Litecoin has pushed above a descending triangle that had formed since mid-May The 50-day moving average is Litecoin’s next target if the current bullish momentum is maintained Litecoin whales holding 1k to 100k coins have… Source link

What Happened: Bitcoin (CRYPTO: BTC) is trading higher over multiple days, coming off a July 21 low of 29296.39 to a peak of over 34,000 Saturday July 24, a move of over 15%. Meanwhile, Ethereum (CRYPTO: ETH) is bouncing off a low of 1717.17 on Wednesday to a peak of over 2180 at the time of publication, up over 25% in four days. Why It’s Important: The two leading cryptocurrencies have been range bound since a major correction earlier this year. Bitcoin set an all-time high of 64900 on April… Source link

MIAMI, FLORIDA – JUNE 04: Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square speaks on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. The crypto conference is expected to draw 50,000 people and runs from Friday, June 4 through June 6th. (Photo by Joe Raedle/Getty Images) Is crypto the (new) trade of our lifetime? I ask this question as the price of Bitcoin… Source link

Ethereum Ethereum rallied by 4.99% on Friday. Following a 1.43% gain on Thursday, Ethereum ended the day at $2,125.81. A bullish start to the day saw Ethereum rise to a mid-morning high $2,094.46 before hitting reverse. Ethereum broke through the first major resistance level at $2,065 before falling to a late afternoon intraday low $1,948.68. The reversal saw Ethereum fall through the first major support level at $1,967. Finding late support, however, Ethereum rallied to a late intraday high… Source link

In the past two decades, index and exchange-traded funds (ETF) have become some of the most popular forms of investing because they offer investors a passive way to gain exposure to a basket of stocks as opposed to investing in individual stocks which increases risk of loss.  Since 2018, this trend has extended to the crypto sector and products like the Bitwise 10 Large Cap Crypto Index (BITX) tracks the total return of Bitcoin (BTC), Ether (ETH), Cardano (ADA), Bitcoin Cash (BCH), Litecoin… Source link

Over the last 24 hours, the cryptocurrency market once again rallied to the tunes of Bitcoin’s recovery on the charts. However, on the contrary, Monero‘s [XMR] market seemed to be highlighting an unusual spike in its fundamentals, independent of whatever Bitcoin has been doing. Monero daily transactions per block have reported a massive spike over the past couple of days. As per data provided by Monero Blocks XMR explorer, XMR transactions per block had been consolidating between 20 to… Source link