Key Technical Indicator Shows BTC Surging to $5,500

Throughout the past three months, the bitcoin price has flirted with the $4,200 resistance level, often struggling to maintain momentum above the key $4,000 mark. Several traders have demonstrated concerns over the extended period of stability demonstrated by bitcoin because, in late 2018, the cryptocurrency recorded a drop of around 50 percent following three months of stagnation in the $6,300 to $6,500 range. However, a cryptocurrency technical analyst known to the community as “Galaxy” has said that once bitcoin breaks out of a key resistance level above $4,000, it could…

Why Bitcoin Plunged to 15th in China’s Bizarre Crypto Rankings

China Electronic Information Industry Development (CCID), which operates directly under the Ministry of Industry and Information Technology of China, released its crypto rankings for March, featuring top 35 crypto assets in the likes of Ethereum, Bitcoin, EOS, TRON, and Ontology. Bitcoin dropped from 13th to 15th since last month while TRON climbed up the rankings to secure the number 2 spot. EOS topped the rankings, and Ethereum fell behind TRON at third. EOS & TRON Trump Bitcoin in China Blockchain Rankings Join CCN for $9.99 per month and get an…

What Crypto Bear Market? Japanese Banking Giant SBI Will Soon Mine Bitcoin

SBI Holdings, a major financial and banking giant in Japan, has formally announced the launch of SBI Mining Chip Co., Ltd., officially entering the bitcoin mining industry. In recent months, the most dominant forces in the global bitcoin mining industry in the likes of Bitmain, Cannan, and Japanese internet conglomerate GMO have struggled to adjust to market conditions. As the bitcoin bear market extended to a 15-month correction, despite the gradual increase in hash power, the demand for bitcoin mining due to the general decline in profitability of mining noticeably…

Why Square’s Bitcoin Hiring Spree is Crucial for Crypto Adoption

Jack Dorsey, the CEO of Square, the $32.7 billion mobile payment giant based in the U.S., revealed that Square would fund three to four developers and a designer to work on the open-source protocol of Bitcoin and the crypto ecosystem. Independent of the core business strategies of Square, the team of developers and a designer will work to contribute to the cryptocurrency ecosystem in a variety of ways, potentially by contributing to the open-source codebase of the Bitcoin network. Join CCN for $9.99 per month and get an ad-free version…

Bitcoin, Gold Strongly Correlated in 3-Week High to Spell Stock Market Disaster

Bitcoin and gold both hit three-week highs on Thursday after a period of highly correlated trading. It comes as the dollar crashes and warning signs flash on the stock market. The correlation strengthens bitcoin’s case as “digital gold” and proves that traders are beginning to treat cryptocurrency like a traditional asset. As the dollar crumbles and whispers of recession grow, bitcoin could spike alongside gold as a hedge against a future bear market in stocks. Bitcoin and Gold Strong Correlation As you can see in the chart below, both bitcoin…

Bitcoin Nears $4,100 as Tokens Gain 20%; Industry Execs Say Crypto Bottom’s In

The valuation of the crypto market rose by $1.5 billion overnight as the bitcoin price closed on $4,100 and a handful of tokens recorded gains in the range of 10 percent to 25 percent. Based on the global average price of bitcoin as shown on Coinmarketcap.com, the bitcoin price has remained above the $4,000 resistance level for more than seven days. 7-Day Bitcoin Price Chart (Source: Coinmarketcap.com) Join CCN for $9.99 per month and get an ad-free version of CCN including discounts for future events and services. Support our journalists…

CBOE Trashing Bitcoin Futures Signals Crypto Market Bottom: Brian Kelly

Cryptocurrency investor Brian Kelly believes that the decision to drop bitcoin futures by the Chicago Board Options Exchange (CBOE) represents a watershed in the history of bitcoin, signaling that the crypto market’s longest-ever decline has finally found a bottom. BKCM Founder: CBOE Exit Shows Bitcoin Bear Market is ‘Exhausted’ Speaking on Tuesday’s edition of CNBC Fast Money, the BKCM Digital Asset Fund founder and CEO stated that he sees improvement in bitcoin address growth and market sentiment since December 2018 as evidence that the retail end of the bear market…

Bitcoin Price Could Crash by 50% in 2019: Veteran Crypto Traders

Throughout the past week, the bitcoin price has increased from $3,901 to $4,048, by nearly 4 percent against the U.S. dollar. The relatively strong short-term performance of bitcoin led alternative cryptocurrencies to engage in large upside price movements, allowing the valuation of the crypto market to rise by about $7 billion. Join CCN for $9.99 per month and get an ad-free version of CCN including discounts for future events and services. Support our journalists today. Click here to sign up. The crypto market cap has added around $7 billion in…

Binance Enables Cash for Bitcoin Buying at 1,300 Stores in Australia

On Wednesday, Binance announced the launch of Binance Lite Australia, enabling users to purchase Bitcoin at over 13,000 physical storefronts in Australia. The introduction of Binance Lite Australia comes months after TravelbyBit, a company invested by Binance, allowed users to utilize cryptocurrencies at the country’s major airports. #Binance Goes Down Under, Launches Cash-to-Crypto Service in Australia 🇦🇺@binanceliteau provides a user-friendly platform that further strengthens cryptocurrency adoption in Australia. Full details below 👇https://t.co/aD1M6kK0Mp — Binance (@binance) March 20, 2019 Join CCN for $9.99 per month and get an ad-free version of…

$50 Billion VanEck: Don’t Worry

VanEck, the major New York City exchange-traded fund (ETF) provider with $47 billion worth of assets under management, remains confident that despite its fall from above $19,500 to its current mark near $4,000, “Bitcoin is not going away.” Bitcoin’s Hitting Singles – Not Home Runs In a note to investors Monday, the company’s Director for Digital Asset Strategy at VanEck, Gabor Gurbacs, said that rather than expecting a decisive breakthrough or big “home run” for cryptocurrencies in 2019, look for the industry to continue hitting a number of “singles” with…