A persisting bearish momentum is plaguing Stellar Lumens [XLM] prices. The cryptocurrency has fallen throughout the year failing to record gains. Stellar hasn’t announced any major updates this year apart from Trezor hardware wallet support. The Stellar core upgrade that took place last year failed to drive a bullish momentum for the prices. XLM is still witnessing negative investor sentiment in the market. It has lost over 6% in value in a week’s trading. The crypto token ha
Twitter Inc.’s CEO Jack Dorsey took to the social network Tuesday evening to tell the world his crypto picks when a user asked him which coins and tokens he was holding. “I only have bitcoin,” he said. The comments came after a tweet in which he highlighted experiments with the Lightning Network, an initiative being developed to make crypto payments faster and cheaper by removing the need to record every transaction on the blockchain. Read more...
After multiple rejections near the $107 and $108 resistance levels, ETH price declined sharply against the US Dollar. The ETH/USD pair tumbled and broke the $105 and $103 support levels. There was also a close below the $105 level and the 100 hourly simple moving average. The decline was sharp since the price even broke the last swing low near the $102 level. It opened the doors for a test of the 1.236 Fib extension level of the last wave from the $103 swing low. Read more...
Ripple continues to trade inside a descending channel and is now down to the very bottom. A bounce off this area could spur a rally back to the top or at least until the mid-channel area of interest. RSI is already indicating oversold conditions or that sellers are tired. Turning higher could mean a return in bullish pressure that might take XRP back to nearby resistance levels. Stochastic has some room to head lower before hitting the oversold level, which means that sellers
Bitcoin (BTC) mining has become more decentralized and continues to diversify, a new report from Canadian wealth management company Canaccord claimed on Feb. 6. Canaccord, which tracks the blockchain and digital currency sectors along with its other financial operations, highlighted the increasingly wide distribution of Bitcoin’s hash rate over the past five years. This, the report says, represents a competitive marketplace which in turn makes the largest cryptocurrency less
Gerald Cotten, the recently deceased CEO of major Canadian crypto exchange QuadrigaCX, had filed a will 12 days before his death, Bloomberg writes Tuesday, Feb. 5. According to the documents obtained by Bloomberg, Cotten signed his last will and testament on Nov. 27, 2018. He mentioned his wife, Jennifer Robertson, as the only beneficiary and the executor to his estate. Bloomberg has learned that Robertson will inherit several properties in Nova Scotia, where the couple lived
Bitcoin continues to chart bearish lower highs along the 50-candle moving average on the 6-hour chart. The immediate bias remains bearish while the cryptocurrency is held below that average line, currently at $3,450. Recent history shows bull failures at the 6-hour 50-candle moving average are often followed by a drop below the recent low. BTC, therefore, risks printing fresh multi-week lows below $3,322 (Jan. 29 low), having faced rejection at the crucial moving average hurd
On Feb 5th, the cryptocurrency trading platform LedgerX introduced a new type of bitcoin derivative contract according to a blog post. LedgerX is the first and only US-regulated derivatives platform to settle a variety of Bitcoin derivatives for their clients — but so far what they've done is more of a permutation on existing financial ideas than an evolution. Swaps, options, and futures are all well known quantities in the traditional financial world. The LedgerX Halving Con
The bitcoin bull market was a bubble that burst in 2018, but the “painful” event had a major upside: It attracted a lot of money and talent to the burgeoning industry. That’s the assessment of Matt Hougan, the global head of research at Bitwise, creator of the world’s first cryptocurrency index fund.“It was a massive run-up and a massive pullback,” Hougan told Bloomberg’s Barry Ritholtz on his podcast. “[It was a] total bubble.” While financial “bubbles” understandably carry