Author: Omkar Godbole

Litecoin Cash Has Forked But It’s Hardly Trading

Call it a slow start. A plan to launch a new cryptocurrency by forking the litecoin blockchain went off without a major technical hitch over the weekend, but at press time, the market isn’t exactly embracing the new coin. Currently trading at just $5 on a little over $1 million in volume, litecoin cash (LCC) is valued at just 2 percent of the price of the official litecoin project, the world’s fifth-largest cryptocurrency by total value and one of the few cryptocurrencies to see nearly $1 billion in trading volume. The lackluster pricing follows what had been a notable start...

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Bitcoin Drops Below $10K as Crypto Markets Dip

Signs of bull market exhaustion in the bitcoin market may be having a knock-on effect across cryptocurrencies in general. All of the top 100 cryptocurrencies by market capitalization – bar nano, dentacoin and tether – are in the red today, according to CoinMarketCap data. Bitcoin (BTC) has dropped over 8 percent in the last 24 hours, as was indicated by the bearish reversal pattern on the daily charts and head-and-shoulders breakdown on the hourly chart. As of writing, BTC had dropped to $9,958 – down 16.72 percent from the recent high of $11,958 hit on Feb. 20. As seen...

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Bitcoin Rally Stalls But Bull Revival Isn’t Yet Ruled Out

Bitcoin’s failure to find acceptance above the $11,000 mark this week has neutralized the immediate bullish outlook. However, the rally from Feb. 6 lows could resume if prices break above $11,250, the technical charts indicate. As of writing, CoinDesk’s Bitcoin Price Index (BPI) is seen at $10,345 – down 6 percent in the last 24 hours. The BPI closed (as per UTC) above $11,000 on Feb. 17, but has since struggled to maintain the bullish momentum. So, it appears the rally from the Feb. 6 low of $5,947 has run out of steam. Further, the BPI chart also shows...

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Bitcoin Rally Stalls But Bull Revival Isn’t Yet Ruled Out

Bitcoin’s failure to find acceptance above the $11,000 mark this week has neutralized the immediate bullish outlook. However, the rally from Feb. 6 lows could resume if prices break above $11,250, the technical charts indicate. As of writing, CoinDesk’s Bitcoin Price Index (BPI) is seen at $10,345 – down 6 percent in the last 24 hours. The BPI closed (as per UTC) above $11,000 on Feb. 17, but has since struggled to maintain the bullish momentum. So, it appears the rally from the Feb. 6 low of $5,947 has run out of steam. Further, the BPI chart also shows...

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Building a Base? Crypto Market Hovers Around $500 billion

With bitcoin above $11,000, the market capitalization of all cryptocurrencies is gyrating around the $500 billion mark – and possibly building a base for a step higher. As of writing, the total value of all cryptocurrencies around $480 billion, according to CoinMarketCap. The figure has risen by 43.20 percent from the Feb. 6 low of $276 billion. However, over the last three days, the wider crypto market has consolidated in the range of $475 billion to $520 billion. In the last 24 hours, the total value has dropped by $32 billion as the top 10 cryptocurrencies by market cap...

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Bitcoin Weathers Overnight Sell-Off, Looks to Test $12K

Bitcoin (BTC) has recovered 38 percent of an overnight sell-off and remains on track to test the long-term inflection point above $12,000, technical charts indicate. The cryptocurrency ran into offers above $11,700 yesterday, according to CoinDesk’s Bitcoin Price Index (BPI) and fell to $10,691.43 at 04:29 UTC. As of writing, the BPI is back at $11,162 – down 1.5 percent for the last 24 hours. On Coinbase’s GDAX exchange, BTC was last seen changing hands around $11,079, which is the 38.2 percent Fibonacci retracement of the 1,125-point drop that lasted from late American session to late Asian session. Furthermore,...

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Bitcoin Weathers Overnight Sell-Off, Looks to Test $12K

Bitcoin (BTC) has recovered 38 percent of an overnight sell-off and remains on track to test the long-term inflection point above $12,000, technical charts indicate. The cryptocurrency ran into offers above $11,700 yesterday, according to CoinDesk’s Bitcoin Price Index (BPI) and fell to $10,691.43 at 04:29 UTC. As of writing, the BPI is back at $11,162 – down 1.5 percent for the last 24 hours. On Coinbase’s GDAX exchange, BTC was last seen changing hands around $11,079, which is the 38.2 percent Fibonacci retracement of the 1,125-point drop that lasted from late American session to late Asian session. Furthermore,...

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Bitcoin Weathers Overnight Sell-Off, Looks to Test $12K

Bitcoin (BTC) has recovered 38 percent of an overnight sell-off and remains on track to test the long-term inflection point above $12,000, technical charts indicate. The cryptocurrency ran into offers above $11,700 yesterday, according to CoinDesk’s Bitcoin Price Index (BPI) and fell to $10,691.43 at 04:29 UTC. As of writing, the BPI is back at $11,162 – down 1.5 percent for the last 24 hours. On Coinbase’s GDAX exchange, BTC was last seen changing hands around $11,079, which is the 38.2 percent Fibonacci retracement of the 1,125-point drop that lasted from late American session to late Asian session. Furthermore,...

Read More

Bitcoin Weathers Overnight Sell-Off, Looks to Test $12K

Bitcoin (BTC) has recovered 38 percent of an overnight sell-off and remains on track to test the long-term inflection point above $12,000, technical charts indicate. The cryptocurrency ran into offers above $11,700 yesterday, according to CoinDesk’s Bitcoin Price Index (BPI) and fell to $10,691.43 at 04:29 UTC. As of writing, the BPI is back at $11,162 – down 1.5 percent for the last 24 hours. On Coinbase’s GDAX exchange, BTC was last seen changing hands around $11,079, which is the 38.2 percent Fibonacci retracement of the 1,125-point drop that lasted from late American session to late Asian session. Furthermore,...

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Record Retest? ETC Looks Poised on Double-Digit Climb

ETC, the native currency of the ethereum classic blockchain, looks set to re-test record highs, having now formed a base above $30. As of writing, ETC is changing hands at $37.90, as per data source OnChainFX. Yet, the crypto asset has appreciated 16 percent in the last 24 hours, and is up 95 percent from its Feb. 6 low. Further, ETC was restricted to a narrow range of $30-$35 in the last few days and the sharp rise seen Monday marks an upside break of the consolidation. As for the cause, one theory is that traders are exiting bitcoin...

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