Bullish Correction Possible if Price Holds Above $3,550

Bitcoin Price — Quick Take: The bitcoin price dropped more than 8 percent on a 24-hour adjusted timeframe. The cryptocurrency is attempting a pullback from a historically strong support area above $3,550. Further breakdown action could lead to a double bottom scenario. The bitcoin price on Thursday plunged more than 8 percent across the Asian and European trading session, according to aggregated market data at CoinMarketCap.com. The BTC/USD pair is trading at $3,635 on Coinbase at press time, up 2.7 percent from its session low at $3,556. It formed an…

Bitwise Files Bitcoin ETF With SEC

According to a US Government SEC registration form, cryptocurrency index fund provider Bitwise Asset Management has applied to launch a new Bitcoin Exchange Traded Fund (ETF) with the government body. An ETF is a platform that tracks and trades an asset in the same way as stocks are traded on an exchange. Will Bitwise manage to succeed where so many others are failing? Bitwise Files Bitcoin ETF Bitwise’s proposal is for an ETF that tracks the value of Bitcoin via the Bitwise Bitcoin Total Return Index. This value is “calculated based…

Ethereum Classic Attack | Gate.io Will Return Most Funds

On Sunday, rumors spread around the community that there had been a double-spend attack on Ethereum Classic. The team behind the project immediately responded to the rumors, to ease investors. There have been rumors of a possible chain reorganization or double spend attack. From what we can tell the ETC network is operating normally. BlockScout’s “Reorg” section shows nothing of the sort.https://t.co/Yi2cXusCz9 pic.twitter.com/HdUtS0DJZK — Ethereum Classic (@eth_classic) January 6, 2019 Since Sunday, the Ethereum Classic attack has been confirmed, and the culprit has fessed up. During the week, the devs…

Opens 4,000-Sq-Ft Blockchain Center as Bitcoin Falls

New York City is doubling-down on crypto despite the bitcoin bear market. The NYC Economic Development Corp. opened a 4,000-square-foot Blockchain Center on Thursday (Jan. 10) amid the Crypto Winter. Why? Because the EDC is in it for the long haul, says an executive. “We are playing the long game,” Ana Arino — the chief strategy officer at the EDC — told Bloomberg. “It’s a nascent technology, so there’s bound to be uncertainty around this evolution from year to year. While we don’t know what the future holds, we want to…

Why the Crypto Market Remains ‘Moderately Bearish’ in 2019

With the exception of Ethereum, which seems to have started the year with all guns blazing ahead of the Constantinople fork, it won’t surprise anyone that the market analysts SFOX rate crypto as “moderately bearish” entering 2019. In fact, with further sharp drops in all major coins today, perhaps even the word “moderately” is wishful thinking. Source: SFOX Volatility Report However, unlike many price predictions based on the instincts of even the most credible CEO or economist, the SFOX Volatility Report is based on more than just sentiment. The cryptocurrency…

Bitcoin Price Tumbles 10% as Crypto Markets Flash Red

The price of bitcoin fell more than 10 percent during Thursday’s trading session as the cryptocurrency erased a large portion of its recent gains. At 6:00 UTC, bitcoin opened the trading hour at a price of $4,018, but fell to $3,748 before the hour was complete. After trading sideways until 16:00 UTC, the sell-off accelerated to a low of $3,570, according to CoinDesk pricing data. Bitcoin’s current price of $3,610 reflects a $367 difference and more than 9 percent drop from its 24-hour opening price of $3,995, CoinDesk data further…

TRX Drop to 2.5 Cents Imminent

Tron price fall 5.1 percent but is still bullish David Labhart joins the Tron Foundation as Head of Compliance Bear volumes high and above average–61 million versus 23 million In light of today’s candlestick arrangement and level of participation, TRX is likely to drop to 2.5 cents. However, should it found support; the bounce will see TRX clear 3 cents as bulls march to 4 cents by mid-February. Tron Price Analysis Overview At ninth, TRX market cap stands at $1.708 billion and $300 million away from flipping Litecoin as the…

BTC Slide 6.1%, Bull Party Over?

Bitcoin price drop 6.1 percent after testing $4,100 Korean authorities approve seven exchanges compliant with their security measures The slide below $4,000 at the back of high transaction volumes After today’s losses, subsequent price action would determine whether BTC is within a necessary bull squeeze or the retest of $4,100 marked the beginning of bear trend and completion of a retest. After all, the dominant trend is bearish, and rejection of higher highs is at the 38.2 percent Fibonacci retracement level of Nov-Dec 2018 high low. Bitcoin Price Analysis Overview…

Dovish Fed Minutes Didn’t Save Crypto

Highlights: Federal Reserve is close to the end of neutralizing interest rates after December hike. US stocks, forex instruments, and Gold extended gains Wednesday, but correcting Thursday. Bitcoin, Ethereum, XRP and the rest of the crypto market react negatively. Federal Reserve released the minutes of its December meeting which revealed that they would follow a wait-and-watch approach towards their interest rate hike plans. The US central bank suggested in December moderate rate hikes (up to 2.8 percent) but preferred to implement them only if warranted. The Federal Open Market Committee (FOMC)…

XRP Flash Crash, Flips Ethereum–Again

Ripple price is down 5.7 percent but flips ETH from second Santander’s use of xCurrent has been beneficial Bear trading volumes spike Technically, XRP is bullish, but for buy trend continuation, prices must surge above 40 cents as reiterated in our last XRP/USD trade plans. At the moment, sellers appear to be in control and the 5.7 percent drop could trigger dumps in days to come. Ripple Price Analysis Overview Even at second, XRP bulls couldn’t stand the 45-minute flash crash. At spot prices, the coin is down 5.7 percent…