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Over the past 48 hours, Bitcoin (BTC) price has started to show some strength.  After the brutal drawdowns that were seen early this week, which saw BTC unravel to $7,700 from $10,200, this strength has been welcomed.  Related Reading: Bye-Bye Bull Run: Bitcoin Price Daily Closes Under Vital Moving Average However, one analyst says that it’s not over for Bitcoin just yet, claiming in a recent analysis that the cryptocurrency still has at least another 25% to fall from here.  Yet, the same analyst expects for BTC to start flirting with its previous all-time high of $20,000 in eight months’ time.  What’s Next for Bitcoin? According to a prominent technical analyst, Bitcoin’s collapse isn’t just done yet.  In a recent Twitter post, they remarked that Bitcoin’s markdown phase is yet to complete, seemingly looking to the fact that the cryptocurrency is below a set of prominent moving averages, and is thus weak. What’s most likely according to them is that BTC falls to the ke

After facing a significant amount of selling pressure over the past several days, Ethereum (ETH) has been able to post a decent bounce from its recent lows and appears to have established a notable support level around the $160 region.  Despite being able to climb from its recent lows, it is important to note that Ethereum is still down significantly from its recent highs, and one piece of on-chain data may spell significant trouble for its long-term price action.  Ethereum Posts 4% Gains as $160 Support Level Holds Strong  At the time of writing, Ethereum is trading up over 4% at its current price of nearly $168, which marks a decent surge from its weekly lows of $157 that were set as Bitcoin capitulated within the upper-$7,000 region.  Ethereum’s ability to surge from its dip below $160 signals that this price region is a key near-term support level, and it is highly probable that this will be its near-term target if the aggregated markets continue their descent lower. E

Ripple keeps expanding its network by adding new banks; this time it has signed up Shinhan, the second biggest banking institution in South Korea, to RippleNet Good news for the XRParmy that celebrate the appearance of each new Ripple banking partner. This time they can rejoice about Ripple partnering with Shinhan, the second-biggest bank in South Korea. Korea’s fifth-largest bank, Woori Bank, is also with Ripple already. The report comes from a Sagar Sarbai presentation at Ripple that happened recently. It clearly shows Shinhan bank among Ripple’s current clients. Ripple signs up more major banks to RippleNet As reported by U.Today recently, Ripple has also teamed up with a few more big banks to use its blockchain system for instant cross-border payments. Among them is the National Bank of Fujairah (NBF) that operates in the Middle East.  The others are Interbank from Peru and Vitesse, based in the UK.  These two are going to use Ripple’s xCurrent system that competes with

Bitcoin and cryptocurrency market watchers were on high alert today as the eagerly-anticipated Bakkt crypto platform went live.  The bitcoin price failed to perform, however, with bitcoin losing around 2% of its value since Bakkt began trading its "physically" settled bitcoin futures contracts, with some $8 billion wiped from the wider cryptocurrency market today.  Meanwhile, litecoin, the fifth largest cryptocurrency by market value, has suddenly gone into free fall, losing almost 10% of its value in a matter of minutes. The reason for litecoin's sudden sell-off was not immediately clear, however litecoin is down some 50% since June, thought to be a response to the gains litecoin made earlier in the year as traders cashed out of their positions. Litecoin, which has been called the silver to bitcoin's gold, surged in the first half of 2019 as traders bet an August so-called halvening of the cryptocurrency, where miner rewards for finding blocks are cut, putt

After two years of work and more than a year of hype and regulatory delays, the Bakkt bitcoin futures market had a lackluster first day of trading.  When the session closed at 22:00 UTC Monday, only two daily futures contracts and 71 monthly futures contracts had traded on the new platform, built by New York Stock Exchange parent company Intercontinental Exchange.  The first daily contract didn’t even trade until 18 hours after the launch.  Still, Adam White, the former Coinbase executive turned Bakkt COO, seemed optimistic.  He said in an interview with CNN’s Julia Chatterly that the ICE futures contracts’ launch meant “for the first time ever you have an end-to-end regulated marketplace for the price discovery of bitcoin.” White hopes that the daily and futures contracts will lead price discovery, and while most of the attention is focused on the (thus far unrealized) potential for institutional money to enter the space through Bakkt, White opened the door for retail invest

When the Binance ban for users in the United States was first announced a few months ago, the market feared that significant volume and money would exit.  Interestingly enough, as the launch of Binance America nears, altcoins are suddenly starting to move upwards with decent volume.  Sell the rumor, buy the news. It’s not only Ether (ETH) making significant gains upwards after bouncing from $170 either.  Other altcoins are also currently outperforming Bitcoin (BTC).  Stellar Lumens (XLM) is up 42% from its recent bottom, while Ripple (XRP) showed some promising signs with a 29% daily move as well in the past week.  So is this the moment when altcoins start a new “altseason” bull cycle? Let’s look at the charts.  Total market capitalization  The total market capitalization is showing an essential bounce at the previous resistance area of $65-68 billion. Comparing this to the famous “Wall Street cheat sheet,” and it starts to look like a standard bear trap. The altcoin

Ripple XRP Labs, the company behind the Ripple (XRP) cryptocurrency, has formally requested a US federal court dismiss a class action lawsuit that alleges it illegally sold unregistered securities, Fortune reports.  A number of investors are claiming to have lost money after Ripple Labs convinced them to buy its Ripple (XRP) cryptocurrency.  The group has demanded that Ripple Labs pay damages and declare that Ripple (XRP) is security.  In response, Ripple Labs says that federal regulators have already concluded that Ripple (XRP) is a currency and a commodity, not a security  an assumption based on interpretation of previous regulator statements and not official rulings (in other words, a stretch).  As it turns out, US regulators have only said that two cryptocurrencies are sufficiently decentralized to be considered real currency, Bitcoin and Ethereum (not Ripple (XRP)).  In July, however, bagholders rejoiced when the UK financial watchdog loosely implied that Ripple (XRP) ha

Litecoin prices have declined sharply from their 2019 high, suffering significant losses as the digital currency struggles with numerous challenges.  The altcoin (defined as a cryptocurrency other than bitcoin) fell to as little as $62.65 late last month, down more than 55% from its price of $146.43 in June, CoinMarketCap figures show.  Since then, litecoin prices have recovered, trading between $70 and $80 over the last few days, additional CoinMarketCap data reveals.  Even after bouncing back, the digital currency is still far below its 2019 high.  When explaining the cryptocurrency's notable decline, analysts have pointed to several factors.  [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated.  Anyone considering it should be prepared to lose their entire investment.] Profit Taking One major cause that market observers cited was profit taking. The digital asset rallied from roughly $30 at the start of 2019 to nearly $

Bitcoin will need to become better regulated before it trade on a major exchange, SEC Chairman Jay Clayton says at the Delivering Alpha conference presented by CNBC and Institutional Investor. Clayton also cautions about the difficulty of “price discovery” for investors trying to cash in on crypto. NEW YORK Bitcoin will need stronger regulation before it’s traded on a major exchange, and investors should be wary until that happens, Securities and Exchange Commission Chairman Jay Clayton said Thursday.  The cryptocurrency, with a market cap of $177 billion, has seen a number of attempts to go mainstream, including efforts to launch exchange-traded funds that would give retail investors an easier path into the space.  However, regulators have been reluctant amid violent price swings, a string of negative headlines involving fraud and a general level of skepticism about the stability of the crypto industry.  Bitcoin was trading around $9,875 Thursday, up about 54% over the past y

ETH price rallied further and broke the $200 and $210 resistance levels against the US Dollar. Bitcoin price is consolidating near the $10,200 and $10,250 pivot levels.  There is a new connecting bullish trend line forming with support near $206 on the hourly chart of ETH/USD (data feed via Kraken).  The pair is showing a lot of bullish signs and it might even surpass the $215 resistance level. Ethereum price is up close to 8% and ripple surged 18% versus the US Dollar, while bitcoin is consolidating.  ETH price could continue to grind higher towards $225.  Ethereum Price Analysis Yesterday, there was a sharp rise in ETH price above the $195 resistance against the US Dollar.  Later, the price even touched the $200 level before starting a consolidation phase.  Finally, the price broke to the upside and surpassed the $200 barrier.  It opened the doors for more gains above the $205 and $210 resistance levels.  A new weekly high was formed near $215 before the price started a

How cryptocurrencies like Bitcoin or XRP are distributed can impact a specific asset’s success, both in terms of trust in the asset, but also how scarcity might affect an asset’s long-term value. And while XRP is often the target of much distaste surrounding the way the asset was distributed, becoming a Ripple whale and joining the top 1% of all XRP holders doesn’t take a lot of initial capital.  It Costs $20,000 To Become a XRP Whale Because cryptocurrencies like Bitcoin and XRP are new, emerging technologies that are also financial assets, analysts look at a number of different data points to attempt to determine a fair market value.  One such metric that’s often looked at, is the distribution of each asset across wallets, including the percentage breakdown of how many wallets are holding different levels of assets. One crypto analyst has shared a chart that reveals the average assets held across the top 10% of XRP holders.  The data shows that to become a “one-percenter”

Litecoin tests $72.00 resistance but leaves it unbroken. Current technical levels have bearish inclination; there is a possibility for sideways trading between $70 and $72.  Litecoin is among the weekend biggest gainers alongside Ethereum and Bitcoin Cash.  The altcoins are said to be fighting to find their path away from Bitcoin.  The largest cryptoasset is hovering above $10,300 as discussed in an earlier published analysis.  The lower high pattern recorded last week met its end on meeting the main ascending trendline at $67.52. The buyers pushed LTC above the simple moving averages; the 50 SMA on the one-hour chart at $69.11 and 100 SMA at $69.49.  This move allowed the bulls to boost Litecoin upwards and reclaim the support at $70. Further movement north brushed shoulders with $72 but sadly the bullish magic stopped here. Litecoin is trading at $71.61 at the time of writing following a 2% increase in value on the day.  The Elliot Wave Oscillator has a transitioned from

From Beverly Hills (USA), Sophia Antipolis (France) and Singapore: MyTVchain announces today the launch of its multiple Exchange offering (MEO) which will take place on the 25th of September 2019.  The 1st web TV platform for sports clubs and athletes opened in October 2018 and has onboarded already more than 30000 registered users and web TVs for sports clubs from more than 40 countries including France, Monaco, Belgium, USA, Romania, Cameroon, Greece, IvoryCoast, Nigeria, China, Cambodia, etc. The platform has sports clubs from 5 continents yet. The company is developing its technology based on the blockchain with the sharing of user’s storage capacity and bandwidth. The MyTVtoken shall be also used as a reward scheme in order to pay for those services provided by users but also in order to help users donate their token to their favorite sports clubs. MyTVchain has partnered with Momentum Media Fund Inc. ,aBeverly Hills,USA based production and syndication company which has s

History looks to be repeating itself in the bitcoin market, as a key indicator’s bullish turn could mark the beginning of the next meteoric price rally.  The world’s most valuable cryptocurrency’s price action seen over the last eight months is very similar to the moves seen in 2015, according to Bitstamp data. For instance, the bitcoin bear market ended near $3,100 in mid-December 2018 and prices built a base below $4,000 in the following three months before breaking into a bull market on April 2.  Notably, the bear market drop ran out of steam two months before the 50- and 10-week moving averages confirmed a bearish crossover (in February 2019).  Further, the new bull market began two months following the confirmation of the bearish crossover. That is hardly surprising as bearish crossovers of long duration MAs are big-time lagging indicators and often mark bear market bottoms.  What’s more interesting is that the previous bear market (2014) had also run out of steam in the

Ethereum’s testnet activation of the Istanbul hard fork has been pushed back to early October, according to the community manager of the Ethereum Foundation, Hudson Jameson.  According to CoinDesk on Sept.  6, Jameson said on a developers’ call that the testnet launch of the hard fork is now scheduled to take place in the beginning of October. He added: “For anyone listening in who doesn’t know how this works, we pick a block number that we estimate to be around the 2nd of October.  [...] However, that might be one or two days behind or forward from that date based on how fast blocks are produced between now and then.”  Another delay for Ethereum’s Istanbul hard fork  Cointelegraph previously reported on Aug. 28 that Parity, a blockchain infrastructure company that runs the core of the Ethereum network, had already delayed the planned hard fork until Sept. 6.  Parity core developer Wei Tang said at the time that the organization needed at least two more weeks before devs could

Ripple price failed to break the main $0.2650 resistance area against the US dollar.  The price is currently correcting lower and is trading near the key $0.2580 support area.  There was a break below a major bullish trend line with support at $0.2620 on the hourly chart of the XRP/USD pair (data source from Kraken).  The price could either decline further towards $0.2500 or it might bounce back towards $0.2650. Ripple price is struggling to continue higher against the US Dollar, while bitcoin is holding gains. XRP price remains at a risk of a fresh decline towards the $0.2500 support.  Ripple Price Analysis  Yesterday, XRP price made another attempt to surpass the $0.2650 resistance area against the US Dollar. However, the bulls failed to gain momentum, resulting in bearish moves below the $0.2620 support area.  The price even traded below the $0.2600 support level and the 100 hourly simple moving average. On the other hand, bitcoin is still trading near the $10,500 suppo

Litecoin (LTC) price keeps the upsurge intact.  The intraday traders can expect a flourishing day ahead. Litecoin (LTC) price escalates on the intraday chart.  The indications are positive indications that the coin would keep the upsurge intact.  The coin has shown some fireworks in the first two quarters, but from the third quarter, Litecoin (LTC) came under market pressure.  The last month of the third quarter starts with high expectations from the investments in Litecoin. LTC is also among the coins that are expected to bring the rally to the altcoin market.  Let’s have a look at the intraday chart.  Current Statistics of Litecoin:  The coin is trading at $65.96.  The ROI (Return on Investment) marked around 1433.96%.  The 24hr volume of the coin is $2,024,078,006.  The market cap is noted as $4,166,177,509. 63,164,599 LTC coins are circulating in the market.  LTC to USD Price Comparison:  The chart is taken from Trading View on 2nd August 2019 at 05:59:24 UTC for pr

Bitcoin has swung higher after a sudden sell-off last week, climbing back above the psychological $10,000 per bitcoin mark.  The bitcoin price added almost $1,000 in just a few hours yesterday, climbing some 6% over the 24-hour trading period, though many other major coins, including Ripple's XRP, failed to make similar recoveries with a civil war apparently brewing among the XRP community. There did not appear to be any particular trigger for bitcoin's sudden recovery, though there are a number of high-profile landmarks this month which will have likely improved sentiment, including the closely-watched Bakkt cryptocurrency platform going live.  The wider cryptocurrency market failed to rebound to the same extent as bitcoin, with ethereum adding some 4% over the trading period and XRP rising around 2% Meanwhile, some in the XRP community have expressed anger about Ripple selling XRP to its clients to fund various investments. Ripple revealed in July a quarter-to-quart