As of June 1, Ether (ETH) has dipped more than 40% after establishing a record high of $4,384 in May. The major move downhill for the world’s second-largest cryptocurrency by market capitalization has prompted many analysts to predict additional declines. For instance, Clem Chambers, chief executive of financial analytics portal ADVFN, sees the recent ETH/USD plunge as reminiscent of the beginning of 2018’s crypto crash that preceded a 24,000%-plus bull run. Comparing Ether’s (black) and… Source link

The correlation between Litecoin and Bitcoin makes the Litecoin price prediction eerily similar to that of Bitcoin. There is a bearish pennant on the daily chart, which raises the potential of a steeper selloff in the days or weeks to come. The extent of Litecoin’s price recovery periods is consistently getting smaller. Yesterday’s 10% surge did not get Litecoin back to last week’s price levels. The price rejection at the consolidation area of the bearish pennant tallies with… Source link

Interested in ETFs? Visit our ETF Hub for investor news and education, market updates and analysis and easy-to-use tools to help you select the right ETFs. Exchange traded fund managers eager to cash in on the frenzied trading around cryptocurrencies are bracing themselves for longer than expected regulatory scrutiny after comments from Securities and Exchange Commission chair Gary Gensler damped hopes of a swift approval of bitcoin ETFs this year. In testimony before the… Source link

NEW DELHI: With a drop of 36% in May, Bitcoin has posted its worst fall since November 2018 as lofty valuations, concerns over its environmental impact and a regulatory crackdown on cryptocurrencies in China took a toll. Moreover, Bitcoin’s fall last month is the second-biggest since May 2013, as per data available with cryptocurrency tracker CoinGecko. The bearish factors for bitcoin during the month included higher-than-expected inflation data in the US, Tesla chief Elon… Source link

Follow us @crypto for our full coverage. A lull in Bitcoin’s wild swings in recent days has been taken by some as a tentative sign the fragile digital currency could recover. The world’s largest cryptocurrency was little changed at $36,425 as of 6:45 a.m. in New York on Tuesday, following two straight sessions of gains. Swings in the price — as measured by the spread between its daily high and low — have fallen to their lowest since… Source link

Ethereum Ethereum rallied by 13.38% on Monday. Following a 4.69% gain on Sunday, Ethereum ended the month down by 2.50% to $2,707.12. A bearish start to the day saw Ethereum fall to an early morning intraday low $2,275.22 before making a move. Steering clear of the first major support level at $2,220, Ethereum rallied to a late intraday high $2,719.49. Ethereum broke through first major resistance level at $2,518 and the second major resistance level at $2,649. While coming up short of the 38.2%… Source link

CoinShares chief strategy officer Meltem Demirors provides insight into the latest cryptocurrency headlines.  Bitcoin was flirting with its biggest monthly decline on record as May comes to an end.  Bitcoin, the largest cryptocurrency by market capitalization, was on track to close down 36% for May at $36,509 per coin. A finish below $34,885 would cement the cryptocurrency’s worst month on record.  Bitcoin prices came under pressure in May amid concerns the cryptocurrency market… Source link

Business Cryptocurrency Ethereum extended gains to rise more than 8per cent on Monday to US$2,587 but remained 40per cent below a record high of above US$4,300 hit earlier this month. FILE PHOTO: A representation of virtual currency Ethereum is seen in front of a stock graph in this… Source link

TipRanks 3 ‘Strong Buy’ Stocks with 100% Upside Potential Every stock investor wants a strong return; that’s axiomatic, it’s why people get into the stock market to begin with. But the markets are inherently risky, and finding the sweet spot – the right combination of risk and reward – seems as much an art as a science. You can use science, however, to minimize the risk. We’re talking about statistical science, the study of numbers, their patterns, and the relationships between… Source link

Cryptocurrency price turmoil has gripped markets over the last few weeks, with ethereum, the second-largest cryptocurrency after bitcoin, losing around 50% of its value. The bitcoin price has also fallen sharply from its all-time high of almost $65,000 per bitcoin set in mid-April, with fickle Tesla TSLA billionaire Elon Musk and fears of a China bitcoin and crypto crackdown taking the wind out of bitcoin’s sails. Now, Todd Morley, the co-founder and former executive of investment… Source link