The euphoria seen across the cryptocurrency ecosystem over the past couple of weeks was tampered down on Aug. 26 as an early morning attempt by bulls to push the price of Bitcoin to $50,000 was soundly rejected.  Data from Cointelegraph Markets Pro and TradingView shows that following its rejection, the price of Bitcoin slid to a low of $46,457 before bulls managed to regroup and put a halt to the downturn. BTC/USDT 1-day chart. Source: TradingView Here’s what analysts are saying about… Source link

What happened The prices of cryptocurrencies continued their multiday slide Thursday morning as investors weighed recent comments regarding efforts to regulate the industry. Here’s how some of the most recognized assets were trading as of noon EDT: Image source: Getty Images. So what All three assets were still up by more than 50% over the past month, so it shouldn’t concern holders that they are giving back some of those gains. What may be of… Source link

Litecoin has dipped lower after two failed attempts to take over the 200-day Simple Moving Average. Sellers have taken over from the buyers, and price action is descending further down. A return to the bandwidth between $135 and $156 looks like the sanest move to attract buyers again. On August 16 and again on August 23, Litecoin (LTC) tried to reach the 200-day Simple Moving Average (SMA). Both tests failed and what followed each time was a quick reversal. After… Source link

The largest cryptocurrency fell as much as 4.9 percent Thursday to $46,322. By Akshay ChinchalkarBloomberg Bitcoin’s burst above the $50,000 level didn’t last long, and chart patterns signal its rally since July is at risk of fading. The largest cryptocurrency fell as much as 4.9% Thursday to $46,322, with other tokens including Ether retreating along with the Bloomberg Galaxy Crypto Index. The drop pared Bitcoin’s rally from a July 20 low to about 60%. Bitcoin was trading at $47,342 as… Source link

The roller coaster ride of the crypto market prompted whales to transfer over $500 million in Ethereum in 13 unrelated trades on Tuesday and Wednesday of this week, The Daily Hodl reported on Thursday (Aug. 26). Whales — individuals or entities holding a large amount of a particular cryptocurrency — are taking advantage of a market upswing and unloading an enormous amount of Ethereum to unknown wallets, according to the report. Ethereum, a blockchain platform with its own cryptocurrency,… Source link

What Happened: Adam Back, CEO of Blockstream and the cryptographer behind Bitcoin’s (CRYPTO: BTC) Proof-of-Work mining algorithm, anticipates that the leading cryptocurrency’s price will reach $100,000 this year. In a recent interview with Anthony Pompliano, Back said that after analyzing Bitcoin options prices, the price reaching $100,000 is still “quite possible” this year. “The comparison I liked was the competitor to physical gold, because, in many ways, Bitcoin is a better… Source link

Ethereum is currently trading back below $3,100 following a gruelling sell-off across the entire cryptocurrency market overnight. The industry’s second-largest asset has enjoyed a fruitful month of price action, rallying from $1,700 in July to a monthly high in August of $3,390. However, the tide appears to have turned in the short-term, with Ethereum failing to close a daily candle above $3,320 following a string of stubborn attempts. Key levels of support remain at $3,000 and $2,880,… Source link

Bitcoin was back to trading at $47k after dipping by 2.8% and altcoins such as XMR, BAT, and VET did not fare too better on their respective charts. Monero broke below its $305.62 support level and BAT eyed the $0.812 price floor. Finally, VET, despite falling by 5.1%, signaled signs of a price reversal.  Monero [XMR] XMR/USD, TradingView Monero declined by 6.4% over the last 24 hours and was trading fat $299.43. It fell below its support level of $305.62. Its upcoming immediate support… Source link

Bill Gurley. Brian Ach/Getty Images for TechCrunch Venture capitalist Bill Gurley is personally betting on ethereum‘s success after the cryptocurrency network’s community won him over. “I have to say I was swayed by the arguments of the ethereum crowd,” he told Bloomberg in an interview on Wednesday. “And so, I’ve taken a personal position – not something to Benchmark.” Gurley, a general partner at Silicon Valley VC firm Benchmark, didn’t specify how much he invested. Ethereum fans… Source link

Ethereum Ethereum rose by 1.82% on Wednesday. Partially reversing a 4.55% loss from Tuesday, Ethereum ended the day at $3,228.51. A mixed start to the day saw Ethereum fall to a mid-morning intraday low $3,079.92 before making a move. Ethereum fell through the first major support level at $3,083 before rallying to a late afternoon intraday high $3,249.00. Falling short of the first major resistance level at $3,310, however, Ethereum slipped back to sub-$3,200 levels before ending the day at… Source link