Earlier this morning, Bitcoin price returned above $8,000 following a slight dip below that price level on Tuesday evening. BTC/USD has been holding steady this week as investors await the next potential breakout. For the past two weeks, Bitcoin gained close to 20%.
BTC/USD Showing Strength
Despite falling below $8,000, Bitcoin price bounced back quickly on Wednesday morning. The slight price dip was likely a result of a “whale dumping” of over $50 million worth of cryptocurrency in one transaction on the Bitfinex exchange. The fact that New York’s attorney general may take a closer look at major cryptocurrency exchanges operating in the state may have also had an effect.
However, Bitcoin price has shown enough strength to hold above $8,000 this week, as it twice managed to quickly rebound from dips below that price level for the past three days. Earlier in the day, BTC/USD took as little as one hour to recover from a sudden plunge from $8,000.
For now, BTC/USD has at least established a support level at $7,800, while a resistance of $8,200 is set to be tested. The coin is also trading just below its 20-day moving average. This means that BTC/USD is still in bullish territory. Realistically, investors could see Bitcoin reach $8,400 later this week, while a strong support level means any downside would take it back to $7,800.
On the technical side, both the MACD and RSI are sending bullish signals, as seen by the MACD line crossover and an RSI score rising above 50. Volume has also picked up during recent hours.
Looking at the Technical Indicators:
- Hourly MACD & RSI — Bitcoin is in bullish zone
- Major Resistance Level — $8,200
- Major Support Level — $7,800
Featured Image: Depositphotos/© leungchopan
Much of crypto is up, but some coins are struggling. Has the Verge (XVG) partnership downgraded the coin? What are Dash and Lisk (LSK) up to? Let’s find out.
Verge is currently selling for $0.071327, which puts the coin down 14.08% in the past 24 hours.
Yesterday, Verge announced that its mystery partner was none other than Pornhub. So, Verge is now quite the adult coin – no wonder it’s private! It honestly doesn’t come as much of a surprise that Verge’s growth has now plummeted. XVG dropped from nearly $0.12 to $0.07 in only a few hours.
The skeptics proclaiming Verge as a pump and dump (that just took on a whole new meaning) are probably grinning pretty hard right now.
What do you think? Was this the partnership you were expecting? Is it a partnership that you support?
>> Pornhub now accepts Verge
Dash is currently selling for $394.08, which puts the coin up 5.25% in the past 24 hours.
The Dash team recently released the MasternodeTool v0.9.18.
This could explain why Dash is growing today, as it gives people greater opportunity to interact with the token.
Dash has grown by 30% in the past seven days and by 14% in the past month.
For the day, the token’s price has dropped off slightly in the last hour or so, but it may go back to growing soon. Will Dash reach $400 by the end of the week?
What do you think about Dash?
>> Dash gets dropped by Japanese crypto exchange Coincheck
Lisk is currently selling for $11.04, which puts the coin up 1.35% in the past 24 hours.
Lisk is currently ranked as the 22nd largest cryptocurrency, with a market cap of $1.1 billion.
At the moment, Lisk is on tour, teaching the world all about Lisk and LSK. The North American tour recently wrapped up and several members of the Lisk team just touched down in London, England.
>> Lisk is considered a long-term hold – here’s why
Featured image: Capri23auto via Pixabay
It’s a rather slow day in the cryptocurrency market, as Stellar(XLM), Monero(XMR), and Bitcoin Cashcontinue to lead the market in percentage gains. There isn’t any big news breaking this morning, but is that a bad thing? Not necessarily. FUD has been plaguing the market for months and has caused major panic selling among the new cryptocurrency investors. It seems lately the market has begun to stabilize a bit, which is a positive step towards mass adoption.
Let’s take a closer look at why these three coins are leading the market mid-week.
The 6th Stellar Build Challange (SBC) has just concluded. The Stellar team announced that since beginning the challenge, there has been a lot more interest in the network and the talent this last round was greater than its ever been. This time, they’ve decided to award five times the prize pool of the previous 550,000 XLM first promised. The Stellar team will distribute 2.7 million XLM, in an effort to make up for the fact that they struggled to keep up with the high-quality entries that were submitted. SBC 7 will provide developers clear details on how the team plans to improve. The stellar team is committed to:
- More transparency on choice making
- Better communication throughout the competition
- More emphasis on the projects that further Stellar’s long-term success
324 submissions were sent in for SBC 6, and 113 of these will receive some sort of cut from the prize pool. The overall winners, shown below, will receive 200,000 XLM each.
- Soneso Stellar iOS SDK
- Documentation & Refractor of Stella’s Python SDK
Other Finalists include:
- Lumenbox & Domain Key Identified Federation
- Open Garden
- Alfred, a user-friendly command line wallet manager
Stellar Challenge Results
At press time, XLM is leading the top 70 cryptocurrencies for most gains trading at $0.3346 a coin, up 10.76%.
>> Coins to Buy: EOS, ADA, TRX
There isn’t any big news regarding any foundational upgrades to the Monero network lately, however it is the project’s fourth anniversary today.
This could be the very reason why the coin has shot up today, as weird as that may sound.
Verge (XVG), Monero’s competitor, announced a big partnership with PornHub yesterday, but today, the coin has plummeted.
This could also be the reason for XMR’s current rise, as many Verge enthusiasts might have taken their profits and jumped ship after the news of the partnership broke.
At press time, XMR is trading at $223.99 a coin, up 11.62%, in 24 hours.
It remains completely unknown as to why Bitcoin Cash is surging on the market today. Bitcoin Cash is just behind Stellar and Monero for gains and is continuing its climb. It is currently the 4th largest cryptocurrency by market cap and is eyeing that $1,000 threshold.
At press time, BCH is trading at $865.81 a coin, up 11.34%, in 24 hours.
>> Bitcoin Price Eyeing $8,000
Featured Image: TheMerkle
The crypto markets are having, what appears to be, a pretty mediocre day so far. While most coins are seeing green, like NEO, there are others that have moved into the red zone, such as Ethereum (ETH) and Bitcoin (BTC).
The upside of that, however, is that Bitcoin is still sitting above the $8,000 mark, despite the coin being down 0.36% in the past twenty-four hours. As for Ethereum (ETH), it’s unfortunate the coin has turned red, but the coin is still above the $500 mark, which is good news for the Ethereum platform.
So what’s going on in the crypto markets today? Specifically, what’s going on with Ethereum (ETH) and NEO? Let’s see what we can find out.
There is some exciting news circulating around this morning regarding ETH, which is why it is surprising to me that the coin turned red this morning.
Ethereum (ETH) is currently selling for $509.70. This puts the coin down 0.84% in the past twenty-four hours.
This week, the co-founder of Ethereum, Vitalik Buterin, voiced his thoughts regarding the security of crypto wallets. He stated that there needs to be far more moving forward.
Additionally, reports surfaced this week that NASA is looking at using the Ethereum (ETH) blockchain for a deep-space exploration project. More specifically, NASA is reportedly planning on using Ethereum blockchain technology to make improvements to its automate spacecraft navigation. NASA also plans on using Ethereum blockchain to make communication in space better.
It is for these reasons I would have suspected Ethereum (ETH) to be in green territory today.
NEO is currently selling for $68.89, which puts the coin up 1.46% in the past twenty-four hours. NEO is now ranked as the 8th largest digital currency, with a market cap of $4,477,772,000.
NEO is currently on the first leg of its European tour. On April 14, NEO was in Amsterdam, which is where the platform announced its partnership with Victor, a shopping platform that is 100% decentralized. Yesterday, NEO was in Lisbon, and today, NEO is making its way to Madrid, which is where it will be presenting on April 20.
Keep your eyes peeled for more announcements from NEO, as there are bound to be a lot more in the coming weeks.
The Ethereum (ETH) and NEO Takeaway
What do you think about the Ethereum (ETH) and NEO results? I was surprised to see Ethereum (ETH) in red territory, I won’t lie. First off, NASA is thinking about using the Ethereum blockchain. Second, the Ethereum (ETH) coin was actually seeing green this morning, before turning at around 8:30 a.m. PDT.
So what happened? What is the marketplace thinking? Voice your thoughts below.
Featured Image: Depositphotos/© Syda_Productions
A Verge price collapse has stunned investors as the coin made substantial price swings in the last 24 hours: Verge coin price rose from $0.082 at the beginning of Tuesday trade to intraday high of $0.112 before collapsing back to this month low of $0.07 at the end of the day. Its price extending the downtrend into Wednesday trading, the XVG coin is down 27% in the last twenty-four hours.
Source Image: coinmarketcap.com
Verge price soared sharply after its announcement of the partnership with Pornhub – the biggest website in the porn industry. Pornhub will now allow its subscribers to use XVG cryptocurrency as a mode of payment.
Verge’s blockchain technology permits businesses and individuals to make quick transactions while maintaining their privacy. Its privacy feature significantly attracts investors, as its Wraith Protocol guarantees privacy during transactions.
Pornhub Vice President Corey Price claimed, “The partnership between Verge and Pornhub is not only thrilling news for us and the adult entertainment industry, but it’s also exciting for the crypto space”.
The Verge price collapse, however, started after the coin hit $0.112 in intraday trading. The coin lost its momentum amid trader’s strategy to capitalize on the rally. The instant increase in its price allowed investors to implement “sell the news” trade strategy.
Despite a Verge Price Collapse, Monero Price Soars
Source Image: coinmarketcap.com
Monero price (MON) hit one month high of $227, up 14% today, extending the seven-day rally to 36%. Although no fundamental news supports the latest uptrend other than its inclusion to CoinEx cryptocurrency exchange, crypto investors believe that the partnership between Verge and PornHub opens the path for Monero to expand its penetration in the porn industry.
Cybercriminals and dark web users mostly use Monero coin due to its privacy feature. Some analysts are of the opinion that positive trends on its technical price charts and moving averages support the uptrend. MON coin currently trades at around $227 – with the market capitalization of $3.6 billion.
Featured Image: Twitter
Bitcoin Price (BTC) is largely controlled by trader’s sentiments regarding the future fundamentals of cryptocurrency markets. Trader’s sentiments have been improving sharply in crypto markets over the last week, driven by bullish price predictions and regulator input to control unfair practices.
Rather contrary to the previous precedent of “going against” government interference and regulation, the management of Ripple (the third largest cryptocurrency), has invited the government to play their role in cryptocurrency markets.
“We’re at that time now where we need more clarity and rules, and we need more certainty. It’s a good time to start revisiting that ‘wait and see’ approach taken by regulators,” Ryan Zagone, director of regulatory relations said.
Source Image: coinmarketcap.com
The cryptocurrency markets didn’t react sharply to the notices sent by U.S. Attorney General to thirteen cryptocurrency exchanges. In fact, bitcoin price moved above $8000 level again today after dipping to three day’s lows on Tuesday. Bitcoin price was under pressure yesterday due to the tax season, which is now officially ended.
New York Attorney General Eric believes that cryptocurrency exchanges should clearly disclose basic facts about their operations.
“With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money,” said Attorney General Schneiderman in the release.
Upside Is Ahead, Analysts Say
Bulls are capitalizing on improving traders sentiments over the last week. Technical chart analysts are also adding to bull’s optimism. Moving averages and oscillators started showing positive signals for bitcoin price movement.
Analysts believe bitcoin price movement shows the potential bullish trend considering Bollinger bands model. Technical analysts expect bitcoin price to hit the next resistance level of $8500 soon. Market pundits, however, are hoping bitcoin price to cross $20,000 levels in the days to come. They claim higher regulations will attract new investments from retail and institutional investors.
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