Connect with us

Cryptocurrencies

Bitcoin (BTC) Drags Ethereum (ETH) and Ripple (XRP) into the Price Rally

Published

on

Bitcoin (BTC/USD) Price Analysis:

Bitcoin price chart - Aug 23
Bitcoin Chart By TradingView

Bitcoin (BTC) is dealing with the bulls. The current scenario seems to embark price rally soon. However, the upsurge can still take some time, as the recent price drop has affected the coin at large. The coin touched $13000 in the last month is now at $10000. The difference is of $3000, which is a hard task to achieve. Let’s have a look in the intraday movement.

The intraday chart of Bitcoin is indicating an upsurge in price. The coin opened with $10158 and immediately dropped to $9812. The fall was of 3.08%. The coin escalated from $9812 to $10067 by 2.16%. Further, the coin jumped from $10068 to $10227 by 1.59%. Despite the escalation, the coin closed with a loss of 0.42% and closed at $10111. Today, the coin opened with an escalation of 1.56% from $10111 to $10269. The coin inclined by 0.67% from the opening time. Bitcoin (BTC) is currently dealing at $10180.

The coin would be best suited for long term traders. The same would bring a colossal profit for the traders.

Ethereum (ETH/USD) Price Analysis:

Ethereum price chart - Aug 23
Ethereum Chart By TradingView

Ethereum is the second-largest coin in the market. The market cap of the coin is marked as $20,696,437,065 at 09:09 UTC. The coin is anticipated to bring the price rally in the market soon. Let’s have a look at the price chart. Yesterday, the coin opened at $189. The currency fell from $189 to $183 by 3.49%. The coin started moving up. The coin jumped from $183 to $188 by 2.80%. Further, the coin jumped from $188 to $195 by 3.69%. The coin closed at $190. The intraday loss was of 0.55%. Today, the coin opened with a slight fall of 0.60%. The price counters changed from $190 to $189. Further, the coin improved from $189 to $192 by 1.62%.

Ethereum (ETH) is among the most promising coins in the market. The currency has always resulted positively for the traders. We are quite positive about the upsurge in the coin. We would recommend to dig in for long term investment for high dividends.

Ripple (XRP/USD) Price Analysis:

Ripple price chart - Aug 23
Ripple Chart By TradingView

Ripple (XRP) had a roller-coaster week. The improvement in the price started from yesterday. The coin has been through a lot lately. Hopefully, the storm has passed and left us with repairable damage. We are anticipating that the coin would soon start moving up on the price chart. The said inclination would last in the coin. To understand the movement more precisely, let’s have a look at the price chart.

Today, the coin opened with an escalation of $0.274 from $0.272 by 0.69%. Yesterday, the coin slipped from $0.267 to $0.0261 by 2.20%. Further, the coin escalated from $0.26 to $0.27 by 3.67%. The intraday movement in price booked an escalation of 1.90%. The coin closed at $0.27.

For better result in the future, we would recommend going with long term investment plan.

News Source

Click to comment

Cryptocurrencies

BitMEX CEO responds to Binance’s market maker slip up, offers CZ a “copy/paste” course

Published

on

Arthur Hayes, the CEO of BitMEX, responded to Changpeng Zhao’s false accusations of a Binance futures market maker attack—satirically. Hayes offered him a “copy/paste” course for 51 percent of his equity, alluding to earlier plagiarism accusations. Zhao replied he’d be happy to buy-in.

CZ’s quick fingers get him in trouble, yet again

The rivalry between two of the biggest crypto derivatives platforms in the world shows no signs of stopping. The CEO of BitMEX, the first exchange to introduce a crypto futures trading platform, Arthur Hayes missed no opportunities to take a jab at their main competitor—Binance.

Changpeng Zhao, the CEO of Binance, has been known for his easygoing attitude towards slip ups and mistakes made by his company. But, this time Zhao’s attitude got the best of him when he hastily accused one of Binance’s clients of attacking its futures platform.

In a Twitter post, Zhao said that the attacker as a “well-known” account that attempted to use the sudden price drop in Binance’s Bitcoin futures to turn a profit and liquidate other clients. However, it quickly turned out that the sudden futures price drop wasn’t due to a malicious attack, but was caused by a “bad parameter” set by the client.

Zhao’s lighthearted way of dealing with situations like these wasn’t well-received by the crypto community, with many criticizing him for posting harsh accusations and lacking a fundamental understanding of how futures trading platforms work.

Hayes uses the opportunity to take a jab at CZ

Joining the slew of those criticizing Zhao was Arthur Hayes, the CEO of Binance’s main competitor BitMEX. He took the opportunity to continue his Twitter back-and-forth with him and criticize him for the incident.

In a tweet, Zhao said that no users were affected by the drop in the future’s price thanks to a supposed invention by Binance. The innovation, he explained, was setting off liquidations based on the exchange’s own index price, and not the futures price.

In response to a user who tweeted that liquidations tied to the index price were a long-time staple at BitMEX, Hayes offered to teach Zhao how to run a crypto derivatives platform.

This isn’t the first time a crypto-influencer used the old “Ctrl+c/Ctrl+v” hotkey hook and jab combo. Ethereum co-founder Vitalik Buterin used the same insult against Justin Sun when evidence surfaced that a significant portion of the TRON whitepaper was plagiarized from other projects.

Zhao seemed to have appreciated the joke, saying he would be happy to attend any class taught by Hayes in exchange for 49 percent of a venture he runs.

The jokes were well received by the crypto community, where (mostly) light-hearted insult-slinging between industry heavyweights is a favorite spectator sport among Crypto Twitter.

News Source

Continue Reading

Cryptocurrencies

Crypto Analyst Outlines Short Term ‘Panic’ Level for Bitcoin (BTC)

Published

on

The price of Bitcoin continues to move sideways in an extremely narrow range. And amid the low volatility, analysts are trying to gauge which direction BTC may pop next.

Analyst Nick Cote tells his 63,000 followers on Twitter he’s bullish on BTC after its next halving in May of 2020.

He points to BTC’s Bollinger Bands, which uses two lines of standard deviation to measure volatility, as a sign that traders should be cautious.

In the short term, Cote warns the leading cryptocurrency could suffer another significant drop.

“Week long consolidation has broken down to the downside. No need to panic unless $9,750 falls. Above $10,270 and I’ll be thinking this was a fakeout, but below, the course looks to be back towards the liquidity box below. Currently no position for me with volatility this low…

To clarify my position with Bitcoin: I’m a big bull post-having, but I believe there is plenty of room (and opportunity) for a pre-having shakeout to the tune of 30%.”

As for the altcoin market, Cote says Ethereum needs to remain above support levels around $182 to keep pushing forward.

“Ethereum has hit the $195 target and needs to hold above $182 to continue its recent bullish break from the FW, which if held, will push Ethereum to the $225 mark.

A move below will spell disaster and a high probability re-test of the $165 long term

News Source

Continue Reading

Cryptocurrencies

Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin – American Wrap

Published

on

Bitcoin price in the session on Monday is trading with minor gains of some 0.10%.

BTC/USD bulls are trading ever so close to a critical barrier of resistance, as part of a narrowing triangular structure.  

A game-changing barrier appears to be at the round psychological $10,500 mark. 

Ethereum price is trading in negative territory, with losses of some 0.25% on Monday.

ETH/USD price action via the daily chart view has broken out to the upside from a descending wedge structure.m

A large barrier of resistance was observed at the $180 price mark, the daily break and closure above is attractive for further potential buying momentum.

There is a downtrend on the daily timeframe, and today there has been a break to the upside.

The trendline originated back in June and bounced off another wave high in August.

There has been a base forming with 62.11 the new support low. 

On the upside 78.65 is now the main point of resistance and it was used as a big support zone on the 15th of July.

News Source

Continue Reading
Open

Close