Bitcoin Explodes to $7,500 as Tether Loses USD Peg

Bitcoin price surged 9 percent within hours as Tether started losing its grip on the USD-peg. The BTC/USD pair closed yesterday on a modest 2 percent gain in pennant formation action following the recent drop. Nevertheless, the couple started picking momentum during the early Asian trading session and jumped to as high as 7800-fiat from …

Ethereum Sell-Off in August Shows Crypto Has Hit a Bottom in 2018

According to cryptocurrency analyst Eric Thies, the crypto market may have hit a bottom in September as the price of Ethereum (ETH) declined by more than 50 percent. Since delving below the $180 mark, ETH has since recovered to $230, likely due to the demonstration of massively oversold conditions by the market in late September. …

Inside the Wall Street Practice that Could Ruin Bitcoin

Note: This is part 3 in a multi-part article series exploring rehypothecation and commingling in bitcoin and other cryptocurrency markets. Part 1 and part 2 are interviews with Caitlin Long and parts 3 and 4 ask the question, “How did we get to a place that where laws look like this?” In order to understand …

Bitcoin Price Still Stable Below $6,600, What Stands Ahead of Crypto Market?

For over a week, Bitcoin has remained relatively stable in the $6,400 to $6,600 range, struggling to sustain its daily trading volume across major crypto exchanges. Within the past 48 hours, the volume of Bitcoin has declined from $4 billion to $3.2 billion on Coinmarketcap and from $2.6 billion to $2 billion on CoinCap.io, the …

Element Analysts Believe Bitcoin Market Has “Ran Out of Juice”

Element Group, a cryptocurrency economics and digital assets solutions analyst, published a report explaining that the SEC’s delay in approving bitcoin ETF proposals is the primary reason why the market has become so boring in recent weeks. Crypto Market Has Become Boring BTC/USD | Bitfinex “One can argue that the depressed volatility patterns we’re seeing …

Cryptocurrency is ‘Here to Stay’: CFTC Chairman Giancarlo

Bitcoin may never replace the greenback, but the flagship cryptocurrency could achieve significant adoption in the two-thirds of countries without stable currencies. That statement might sound like a thesis put forward by an early bitcoin adopter, or perhaps a forward-thinking hedge fund manager. In actuality, though, that bullish forecast was issued by J. Christopher Giancarlo, …

Bitcoin Price Intraday Analysis: BTC/USD Supported at $6,500

Bitcoin started this week on a bearish note, depreciating more than 2 percent against the US Dollar on a low-volumed Monday. BTC/USD is undergoing a reversal from its previous week’s high near 6828-fiat. The pair initially formed lower lows below 6500-fiat, but later reclaimed the level as support in an upside correction phase. Even today, …

Bitcoin is Reversing, 2 Catalysts Will Drive it Higher in 2018

Throughout 2018, Bitcoin has continued to record lower highs, testing major resistance levels at $10,000, $8,000 and $7,000. According to Fundstrat’s Tom Lee, the stability of Bitcoin at $6,000 regardless of its lower highs is optimistic. In early 2018, Fundstrat emphasized in a report that the $6,000 level will likely be held by Bitcoin in …

Bitcoin Rises 4% to $6,750, is Ethereum Eyeing a Move Towards $300?

Over the past 24 hours, followed by the strong rally of Bitcoin price from $6,400 to $6,750, the crypto market rebounded strongly. Cardano and Litecoin, the two best performing major cryptocurrencies on September 28, recorded 10 percent gains. Recap of the crypto market on September 28, data provided by Coincap.io Within 10 hours, the price …