The recent price dip in Bitcoin post the drop in early October, seemed to be having a significant impact on the prices of altcoins, as the sellers took control of the trading charts. Barring a few, almost the entire crypto market was once again painted in red. Cardano was displaying strong selling sentiment, as it witnessed a bearish breakout below the trendline. Bears in the Monero and Zcash market too were starting to build downward momentum, as prices for both approached key support… Source link

Bitcoin (BTC) hitting $1 million by 2025 is “about right,” Real Vision founder and CEO Raoul Pal has confirmed. In an interview with Stansberry Research last week, Pal, famous for his bullish stance on Bitcoin, said an “enormous wall of money” would flow into the cryptocurrency over the next few years. Pal: Bitcoin in line for “enormous” capital inflows “I think that’s about right, whether it’s five years, six years,” he said when asked about the $1 million… Source link

Bitcoin has reigned as the undisputed king of cryptocurrencies since it was created a little over ten years ago. The bitcoin price has soared, with some ups and downs, over the last decade—climbing to around $11,300 per bitcoin today and giving bitcoin a total value of over $200 billion. Now, as the market for stable coins—cryptocurrencies pegged to traditional currencies or assets—has doubled in the last three months, a new report has predicted the largest stable coin, the… Source link

OKEx, one of the world’s biggest cryptocurrency exchanges, announced a temporary suspension of withdrawals on Oct. 16. Upon the news, the price of Bitcoin (BTC) abruptly plunged 3% in 30 minutes across major exchanges. The nervousness in the market comes from the reason behind the withdrawal suspension and the potential implications it carries.  The 15-minute price chart of Bitcoin. Source: TradingView.com OKEx says a private key holder is cooperating with investigators, Bitcoin swiftly… Source link

Bitcoin’s intrinsic value has been heavily discussed in the crypto community this week following a remark by the governor of the Bank of England suggesting that the cryptocurrency may have no intrinsic value. Does Bitcoin Have Intrinsic Value? Bank of England Governor Andrew Bailey talked about bitcoin’s intrinsic value during a question and answer session with members of the public early this week. “I have to be… Source link

Monero, the most important privacy coin in the crypto ecosystem, is having a great time, outperforming even Bitcoin in comparison. As of today, October 15th, 2020; XMR closed with a total market capitalization of $2.29 Bn. At a price of $129 per token, the crypto is showing a phenomenal performance, achieving a maket capitalization not seen since 2018, when the bearish sentiment took over the crypto-verse, draining the markets in general. Monero’s Marketcap. Image:… Source link

Ethereum Ethereum declined by 0.28% on Thursday. Following on from a 0.63% fall on Wednesday, Ethereum ended the day at $377.94. It was another mixed start to the day. Ethereum rose to a mid-morning high $381.14 before hitting reverse. Falling short of the major resistance levels, Ethereum fell to a late morning intraday low $370.06. The pullback saw Ethereum fall through the first major support level before striking a late intraday high $381.99. Falling short of the first major resistance level… Source link

Cryptocurrency markets are sending strong signals right now that the innovations coming from fast-emerging technologies like decentralized finance, or DeFi, could shake up the global order of banks and money managers and insurance companies.  A recurring theme at CoinDesk’s invest: ethereum economy virtual conference Wednesday was just how much money there is to be made in the fast-growing digital-asset industry. Talk of returns and yields was salted throughout the technical discussions of… Source link

Bitcoin (BTC) price broke upward in the first half of October, resulting in a rally from $10,500 to $11,700. However, the momentum may be shifting once more as strength diminishes across the cryptocurrency market.  A similar setup also happened prior to Bitcoin’s latest upward break with sideways consolidation in BTC causing altcoins to drop south heavily, especially the Defi sector. Rangebound and holding $11,000 But significant support at $11,000 is now a must-hold level to resume the… Source link

Bitcoin (BTC) has support to climb all the way to $15,000 if historic trends repeat themselves this year, a new report says. Compiled by crypto index fund provider Stack Funds on Oct. 15, the report highlights Bitcoin’s market cap vs. realized cap ratio (MVRV) fuelling gains, which could smash $12,000 resistance. Report expects “significant break” in MVRV Bitcoin has yet to attempt a breakout of $12,000, seeing rejection at $11,700 this week. This has failed to dent optimism among… Source link