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Spring is usually a welcome time of year for bitcoin mining businesses in China.  The upcoming rainy season brings excessive hydropower, making electricity cheap and mining more profitable  all else equal. This year, however, two key variables have changed, upending the calculus for operators of mining facilities and for miners themselves in the world’s hub for this activity. After recovering from March’s brutal selloff, bitcoin’s price has been stagnating around $7,000. As a result, mining farms that offer hosting services are struggling to find enough customers to fill capacity. Further, the standstill comes just before the network’s halving event, due in less than 20 days, which will put further pressure on revenues in the multibillion-dollar bitcoin mining industry.  Bitcoin’s Halving, Explained.The situation presents a conundrum for miners: whether to buy new, more powerful equipment; and if not, when to switch off older models, and when to switch them on again.  The w

XRP saw a 2.5% price decline today as the cryptocurrency drops back towards the $0.19 level. It attempted to push toward the $0.20 level yesterday but got rejected at $0.196. Against Bitcoin, XRP also dropped beneath support at 2680 SAT as it heads toward 2650 SAT support. Key Support & Resistance Levels XRP/USD: Support: $0.18, $0.171, $0.165. Resistance: $0.191, $0.2, $0.208. XRP/BTC: Support: 2650 SAT, 2600 SAT, 2560 SAT. Resistance: 2710 SAT, 2750 SAT, 2800 SAT. XRP/USD  Ripple Continues Sideways Trading In Consolidation Over the past four days, XRP had rebounded from support at $0.18 (.236 Fib Retracement) and attempted higher toward $0.20.  However, in yesterday’s trading session, the bulls failed to breach $0.196, which caused the coin to drop back toward $0.19. The cryptocurrency has managed to maintain above a rising support trend line for the past month; however, a break beneath this trend line could cause XRP to drop toward the next support at $0.16 ag

Another day of mostly sideways movement sees Bitcoin holding onto $7,000, up 0.90 percent over 24 hours.  Together with Ethereum, Bitcoin SV, and EOS, Litecoin is the only other top 10 altcoin in the red.  At the time of writing, the Litecoin LTC price has lost 0.33%, with a trading value of $42.35. Litecoin LTC price may be in for a dip After seeing a sharp increase yesterday in which the LTC price jumped from about $39 to $42, Litecoin has since managed to hold on to much of those gains.  After looking at the technicals, David Smith has stated that Litecoin has been trading in a tight range today between $41.80 and $43.15.  He, therefore, suggests trading the confirmed breakout from one of the boundaries. Alex Clay believes the Litecoin LTC price is set to continue its descent. As per his analysis, the price has found strong support at the $41.92 mark.  However, having formed a descending triangle pattern, the trader states that if the price makes a confirmed breakout

Ethereum co-founder Charles Hoskinson believes Vitalik-centric approach hinders the development of the platform. Cointelegraph recently sat down for an interview with Ethereum (ETH) co-founder and Cardano (ADA) founder Charles Hoskinson.  During the interview, he discussed his criticism of the development of the Ethereum platform. “His first project” Hoskinson believes that one of the main reasons why Ethereum’s development has struggled is that too much hinges on Vitalik Buterin personally: “So, basically Ethereum moves at the speed of Vitalik.  So if he knows how to do something very well and he's become very competent in something, they have a handle on it.  But when you're talking about research, when you're talking about actually delivering a product to market, these are things that require experience.” According to Hoskinson, it shows that Ethereum is Vitalik’s first major project: “He's never done any of this before. This is his first compan

Despite the gloomy short term price trend of Bitcoin (BTC), the pattern of liquidations on BitMEX and historical funding rates point toward a possible serious short squeeze in the medium-term. “High chance BTC bears get margin called big time in coming months.  Funding rates will be your evidence in hindsight,” Bitazu Capital partner Mohit Sorout said. On March 12, a huge drop in price liquidated over a billion dollars in Bitcoin long contracts, causing BTC to drop to as low as $3,600. A similar squeeze could occur against bears or shorts in the upcoming months, which may cause a strong upsurge. The bitcoin market is now showing peak fear, wait until it subsides Amid the coronavirus pandemic and rising jobless claims across the globe, investors are expressing fear towards the stability of all asset classes including stocks, cryptocurrencies and precious metals. It has resulted in panic-driven selling throughout March, and while Bitcoin has rebounded since falling below $4,00

Ripple is currently recovering and trading above the $0.1850 level against the US Dollar.  XRP price could start a strong rally if there is an upside break above $0.1900 and $0.1920. Ripple price is slowly rising and currently testing the $0.1900 resistance against the US dollar. There price is struggling to gain momentum above $0.1900, $0.1920, and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $0.1890 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to start a strong rally if it surpasses the $0.1900 and $0.1920 resistance levels. Ripple Price Approaching Breakout After testing the $0.1800-$0.1810 support area, ripple started an upside correction.  XRP price corrected above the $0.1840 and $0.1850 resistance levels to move into a short term positive zone. There was a close above the $0.1850 level and the 100 hourly simple moving average.  However, the price seems to be facin

Litecoin LTC price was trading in negative territory by 0.30%The Litecoin LTC bulls pushed for a close above Tuesday’s bearish closure The next major barrier upwards is the psychological $50 resistance Litecoin news today  The overall cryptocurrency market has been in a revival phase in recent days after the March massacre triggered by the coronavirus outbreak.  The bull was triggered by Bitcoin’s recent price action.  The coin has managed to move over the $7,000 mark.  After managing the feat, the bulk of the other top assets in the market turned to the positive side including Litecoin.  The Litecoin price has been bullish since then apart from a few short drops along the way.  However, at some point in the last 24-hours, the price of Litecoin was trading in the negative side by 0.30%.  Let’s see how the coin performed in the last 24-hours. Litecoin LTC Bulls Pushed for a Close Above the Last Bearish Closure Litecoin has had a remarkable turnaround in recent d

Retail investors seem overwhelmingly positive about Ethereum, which may create the perfect conditions for a sudden decline through a long squeeze. Long Ether Positions Explode  Over the past few hours, Ethereum took a 10% nosedive that saw its price drop from $170 to $152.  Despite the significance of this bearish impulse, data shows that retail investors remain optimistic. Indeed, long Ether positions in Bitfinex are going parabolic since the Mar.12 crash. Today alone, over 330,000 new positions were added representing a 30% increase. The substantial rise pushed the number of ETH long positions in the Hong Kong-based cryptocurrency exchange to a new all-time high of over 1.39 million. The number of investors betting to the upside is quite surprising when considering the global economic conditions stemming from coronavirus.  If the financial turmoil deepens, this could set the stage for a long squeeze that pressures traders to panic sell their holdings to prevent bigg

Approximately 4 weeks ago global equities markets were in distress as investors finally realized that the coronavirus was not just an illness restricted to China, but rather a global pandemic which could permanently damage economies across the globe. Crypto markets were not shielded from the mayhem that led the S&P 500 and Dow to post some of the biggest losses since the 2008 global financial crisis and investors will recall that on March 13 Bitcoin (BTC) price dropped more than 50% in the span of 24-hours. To date, the volatility and fear within financial markets remain and the future forecast for equities markets is still gloomy but some investors are at least beginning to feel that the absolute worst has passed. As is customary in the crypto sector, when a catastrophic event occurs, analysts, traders, soothsayers, and crypto Twitter personalities peer through the dust and rubble in an attempt to piece together a clearer picture of ‘what happened’ .Bitcoin investors will

Litecoin LTC price has mostly underperformed since the last rally to the upside The coin is in a make or break position The next breakout point could be the $50 level Litecoin news today  The LTC/USD trading pair has mostly underperformed since it managed to stage its recent recovery.  This recovery took the coin’s price from the lows it posted just a few weeks ago. While the recent price crash was devastating for all traders, the LTC/USD pair has not recovered as well as other major crypto offerings in the market.  Meanwhile, the Litecoin price only succeeded in its attempt to test the $43 resistance area although this was attained with little success as prices have underperformed. Litecoin Price Analysis  Litecoin LTC Price is Above the 9 and 21 day Moving Averages As of when this content was published the LTC/USD trading pair was changing hands at $40.37.  It is at this point that the intraday bulls could close but they will likely test some resistance at $41 before

Ripple co-founder and executive chairman Chris Larsen has made a full recovery from COVID-19. In a tweet on April 2, he thanked those working on the frontline against the virus, and also called for recovered patients to donate blood for use in antibody transplants. Larsen had not publicly shared the fact that he had been diagnosed with COVID-19. The majority of the crypto-community only discovered the truth when he posted his tweet, accompanied by a picture of himself wearing a facemask giving a thumbs-up gesture. Recovered patients can still help the sick Despite his recent recovery from the illness, Larsen was keen to encourage others who have recovered to help those still suffering by donating blood. The blood of those who have successfully fought off the disease contains antibodies.  Through a blood transfusion, these can help very ill patients to fight off the virus, even before they start to produce antibodies of their own. Chris Larsen co-founded Ripple and

Ethereum rallied recently above the $135 and $140 resistance levels against the US Dollar.  ETH price remains well supported and it could rise again towards $150 and $155. Ethereum is showing a lot of positive sign and it is trading above $140 against the US Dollar. The price tested the $150 resistance and corrected lower towards $140. There is a major bullish trend line forming with support near $132 on the hourly chart of ETH/USD (data feed via Kraken). The pair seems to be eyeing another bullish wave towards the $150 and $155 levels in the near term. Ethereum Price Breaks Key Hurdle Yesterday, we saw a crucial bullish break above the $135 resistance for Ethereum against the US Dollar. ETH price moved into a bullish zone, resulting in more upsides above the $140 resistance. The price rallied more than 5% and broke the $142 resistance level. The upward move was such that the price climbed above the $145 level and settled well above the 100 hourly simple moving aver