Bitcoin Price Watch: Break Above $3,700 Could Push BTC Higher

Key Points Bitcoin price recovered recently and moved above the $3,500 resistance against the US Dollar. There is a key bearish trend line in place with resistance at $3,590 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price must break the $3,590 and $3,650 resistance levels to gain bullish momentum. Bitcoin price is facing a solid resistance near $3,600-3,700 against the US Dollar. BTC must move past the $3,700 pivot zone to accelerate gains towards $4,000. Bitcoin Price Analysis There was a decent support base…

Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis

Key Points The total crypto market cap recovered above $105.00B, but struggled near $113.00B. Stellar (XLM) price is up around 2%, but it is facing sellers near $0.1250. Bitcoin cash price is back above the $100 level and it could correct towards $115. Tron (TRX) is struggling to move past the $0.0150 resistance level. Cardano (ADA) price is consolidating above the $0.0300 support level. Bitcoin cash recovered and surpassed the BCHSV value. Stellar (XLM), Tron (TRX) and Cardano (ADA) are up around 2% with a minor bullish angle. Bitcoin Cash…

Ripple Price Analysis: XRP/USD Could Resume Decline Below $0.3000

Key Highlights Ripple price is struggling to break the $0.3180 and $0.3240 resistance levels against the US dollar. There is a crucial bearish trend line formed with resistance at $0.3100 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may continue to move down below the $0.3000 and $0.2950 support levels. Ripple price is facing an uphill task against the US Dollar and Bitcoin. XRP/USD is likely to decline once again below $0.3000 as long as it is below $0.3100. Ripple Price Analysis After forming…

Ethereum Price Analysis: ETH Bullish Above $98 and Bearish Below $88

Key Highlights ETH price recovered recently, but it faced sellers near the $98 level against the US Dollar. There is a crucial contracting triangle formed with support at $88 on the hourly chart of ETH/USD (data feed via Kraken). The pair may continue to trade in a range below $98 before the next move either above $98 or below $88. Ethereum price is facing many key hurdles against the US Dollar and bitcoin. ETH/USD must break the $98-100 barrier for a solid upward move in the near term. Ethereum Price…

Why Billionaire Investors Remain Positive on Long-Term Trend of Crypto

Mike Novogratz, Jim Breyer, and Tim Draper are some of many billionaire investors in the traditional financial market who remain optimistic towards the long-term trend of crypto. How are these investors able to maintain their positive stance in regards to the growth of the cryptocurrency sector following an 85 percent decline in valuation across the board? It’s About Cycles For the most part, high profile individual investors are able to handle severe losses in emerging asset classes and high-risk assets like cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) because…

Bitcoin Price Weekly Analysis: BTC Sellers In Control Below $3,600

Key Points Bitcoin price extended losses below the $4,000 and $3,600 supports against the US Dollar. There is a significant bearish trend line formed with resistance at $3,630 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently consolidating losses above $3,200, with resistances near $3,500 and $3,600. Bitcoin price is in a major downtrend below $4,000 against the US Dollar. BTC/USD may continue to struggle to recover above the $3,600-3,700 resistance zone. Bitcoin Price Analysis This past week, bitcoin price declined below the…

Ethereum Price Weekly Analysis: ETH Remains Sell Near $100

Key Highlights ETH price declined heavily after it failed to break the $125 resistance against the US Dollar. There is a crucial bearish trend line formed with resistance at $101 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair may correct higher, but is likely to face sellers near the $99, $100 and $101 resistances. Ethereum price declined heavily this past week versus the US Dollar and Bitcoin. ETH/USD remains in a downtrend as long as it is below $100 and $114. Ethereum Price Analysis This past…

Bitcoin Cash Price Weekly Analysis: BCH/USD Could Struggle Near $120

Key Points Bitcoin cash price declined heavily and even broke the $100 support against the US Dollar. There is a crucial bearish trend line formed with resistance at $120 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is currently correcting higher, but it is likely to struggle near the $120 resistance. Bitcoin cash price fell sharply below $150 and $100 against the US Dollar. BCH/USD may correct higher in the short term towards $115 or $120 resistance. Bitcoin Cash Price Analysis This past week,…

Why Bitcoin is Not in a Death Spiral, Refuting Reports

Over the past month, many reports about the materialization of a potential “death spiral” on the Bitcoin network were released, leading investors to be concerned about the short-term trend of the dominant cryptocurrency. According to a security expert and cryptocurrency researcher Andreas Antonopoulos, a death spiral is unlikely to happen in Bitcoin. What is a Death Spiral and Why it Likely Won’t Happen On the Bitcoin network, miners find a block filled with transactions every ten minutes. After 2016 blocks are mined, the network automatically readjusts the difficulty of mining…

Crypto Exchange Bithumb May Have Propped up Bitcoin Price: Analysts

The bitcoin price touched a fresh yearly low this morning, leaving traders and investors scrambling for answers as the crypto market searches for a bottom. While there are numerous pressures that have weighed on bitcoin as it has taken step after step away from last year’s all-time high, research from CryptoCompare suggests that South Korean cryptocurrency exchange Bithumb may have contributed to the recent sell-off — at least indirectly. According to the firm’s latest CCCACG (short for CryptoCompare’s Aggregate Pricing Index), Bithumb led all crypto exchanges in daily volume from…