Bitcoin price has made a strong recovery over the last week or so, nearly doubling in value from the lows it set during the extreme, panic-induced selloff earlier this month. And as price has made a recovery, Bitcoin miners have begun returning to the market, turning back on their rigs, as can be seen by an increase in hash rate. Hash Rate Recovers After Deadly Panic-Induced Selloff Bitcoin is a unique financial asset in the fact…

Bitcoin is up more than 10% and it broke the key $6,400 resistance against the US Dollar. BTC price is now trading near the $6,650 resistance, above which it could surge to $7,000. Bitcoin is gaining traction and it recently climbed back above $6,200 against the US Dollar. The price is now trading above the $6,400 level, but struggling to clear the $6,650 resistance. Yesterday’s major contracting triangle was breached with resistance near $6,000 on the…

Bitcoin bulls were cheerful this Tuesday as a top analyst’s call to purchase gold amidst the Coronavirus-induced market turmoil created similar opportunities for the cryptocurrency. Jeffrey Currie, a commodity researcher at Goldman Sachs, said in a note that the yellow metal has reached an “inflection point” after the Federal Reserve announced that it would buy an infinite amount of mortgage-backed securities and Treasury bonds to keep lending costs lower. Time to buy gold | Source: Goldman…

Ripple is showing a few positive signs above the $0.1550 resistance against the US Dollar. XRP price is likely to surge further if it clears the $0.1620 resistance area. Ripple price is up more than 6% and it traded above the key $0.1550 resistance against the US dollar. The bulls are now fighting to clear the $0.1620 and $0.1625 resistance levels. There was a break above a major bearish trend line with resistance near $0.1520 on…

11 years after Satoshi Nakamoto launched Bitcoin, some facets of the U.S. government have finally indicated that they are seriously considering the creation of a digital dollar, a move that many say could validate cryptocurrencies, especially BTC. Digital Dollar? According to a Bloomberg Law report released Monday, Democrats in the House of Representatives are seriously considering the creation of a system of digital wallets, in which a “digital dollar” (unfortunately not Bitcoin) would be stored. This…

Ethereum is up around 10% and it traded above the key $130 resistance against the US Dollar. ETH price is likely to continue higher towards the $150 resistance if it clears $140. Ethereum is showing a few positive signs above the $135 level against the US Dollar. The price is now approaching the key $140 resistance area. There was a break above a major bearish trend line with resistance near $126 on the hourly chart of…

Bitcoin has been firmly acting as a risk-on asset over the past several weeks, with its price closely tracking the movements seen by the U.S. stock markets. This has invalidated its status as a safe haven asset and has made the benchmark crypto prone to seeing massive near-term downside. Although BTC has been moving in tandem with the Dow Jones, S&P 500, and other benchmark indices, one veteran trader and highly respected analyst is now noting…

What a crazy day it’s been for markets thus far. Bitcoin, after falling as low as $5,700 during Sunday’s retracement, rallied as high as $6,650 on Monday morning on the back of news from the Federal Reserve. While a portion of this move has been retraced, with Bitcoin now trading at $6,400 as of the time of this article’s writing, the cryptocurrency is still outperforming (up 7% on the day) the S&P 500 and Dow Jones,…

Ethereum saw a slight overnight rally that allowed it to move back towards its resistance within the lower-$130 region. This movement came about in tandem with that seen by Bitcoin, which surged all the way up to highs of $6,700 before reeling back towards $6,000. This recent price action seems to confirm that ETH, BTC, and most other cryptocurrencies are currently caught within bouts of range-bound trading, as they may currently be seeking direction from the…

The cryptocurrency market has been in shambles ever since the coronavirus outbreak reached critical levels, however, the panic has been positive for the growth of stablecoins, which have grown by billions in market cap since the selloff first began a month ago. Stablecoins Provide the Only Flight to Safety Amidst Coronavirus Crisis The cryptocurrency market, like the stock market, precious metals, and basically any other asset across the world currently, are struggling to maintain valuations during…