Crypto Slaughter Bleeds $8 Billion Wipeout in Minutes; Bitcoin Recovers Swiftly

By CCN.com: The valuation of the crypto market dropped by $8 billion in a matter of minutes after the office of New York Attorney General’s office filed a lawsuit against iFinex, alleging Bitfinex of mismanaging $850 million in Tether funds. Bitcoin fell by 7.5 percent at its day’s low point. Following the filing of the lawsuit by the Attorney General against iFinex, the bitcoin price dropped from $5,500 to $5,085 as many investors panic sold. Bitcoin is down about 5 percent in the past 24 hours (source: coinmarketcap.com) But, the…

Bitcoin Price Analysis: Resistance Turned Support Enforces Bullish Continuation

Summary: After breaking out of a macro reaccumulation range, the market saw a small pullback that led to a retest of prior resistance that is now being respected as support. The market was previously unable to close a daily level above $5,400 but so far after three tests, the market has established intraday support. The market structure remains bullish as we establish higher highs and higher lows. The next milestone for a bullish continuation is a daily close above the $5,600 level. Major resistance lies just overhead in the upper…

Bitcoin (BTC) Price Tumbles: Is This Trend Change or Correction?

Bitcoin price declined sharply after it broke the key $5,400 and $5,380 supports against the US Dollar. The price even broke the $5,000 support level and tested the $4,900 support area. There was a break below a major bullish trend line with support at $5,410 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must climb back above $5,400 to avoid a fresh drop towards the $5,000 support area. Bitcoin price declined heavily below $5,400 and $5,250 against the US Dollar. BTC is currently correcting…

Crypto Market Holding Crucial Supports: Bitcoin Cash, XLM, EOS, TRX Price Analysis

The total crypto market cap tumbled sharply, but it stayed above the main $156.0B support. Bitcoin cash price declined sharply, but recovered above $268 and $270. EOS price tested the $4.60 support level and it recently bounced back above $4.70. Stellar (XLM) price is under a lot of pressure and it recently broke the $0.1000 support area. Tron (TRX) traded close to the $0.0225 support level and it is currently correcting higher. The crypto market cap declined heavily, with strong bearish moves in bitcoin (BTC) and altcoins. Ethereum (ETH), BCH,…

Final Frontier and Bitfury Launch Regulated Bitcoin Mining Fund

Following approval from European authorities, Swiss investment firm Final Frontier is partnering with Bitfury Group to launch a regulated bitcoin mining fund for personal and institutional investors. Bitfury announced the partnership on April 24, 2019, describing the project and some of the advantages that this mining fund will offer to investors. According to the Bitfury Medium post, the fund will look to introduce more investors to the difficult-to-access world of bitcoin mining “by offering exposure to bitcoin mining via a fully regulated fund in a European jurisdiction, with top-tier service…

Bitcoin (BTC) is King and Trustless, But is it Ready For $6,000?

Bitcoin (BTC) up 4.5 percent Altcoins are horrible, but Bitcoin is the only trustless project There is only one king in cryptocurrency, and that is Bitcoin (BTC). According to Tone Vays, altcoins—as history shows fail to weather the test of time, sinking expectations with it. Meanwhile, Bitcoin is firm, leading in valuation and dominance proving over and over again that it is a market leader. At spot rates, it is up 4.5 percent from last week’s close. Bitcoin Price Analysis Fundamentals While Bitcoin’s founder is still in the dark, applying…

Survey Says Sell? Just 43% Believe ‘Golden Cross’ is Bullish for Bitcoin

By CCN: Not everyone is convinced that Bitcoin’s highly-touted “golden cross” is a bullish signal for the world’s largest cryptocurrency. Almost 25% of Crypto Investors Believe Golden Cross is Bearish for Bitcoin According to a Twitter survey conducted by crypto bull Thomas Lee, 24% of Crypto Twitter inhabitants believe that the signal, which typically hints at a bull run ahead, is a trap and that it is time to unload some Bitcoin. A golden cross occurs when a 50-day moving average crosses the 200-day moving average from under on the…

Bitcoin Faces Deeper Price Pullback Before Rally Continuation

View Bitcoin fell more than 1 percent yesterday, confirming a bearish divergence of the 14-day relative strength index, an early sign of bearish reversal. BTC risks falling to levels below $5,000 in the next few days. A strong bounce from the crucial 30-day moving average (MA), currently at $4,969, would revive the short-term bullish outlook. The long-run outlook will remain bullish as long as the price is holding above the former resistance-turned-support of $4,236 (Dec. 24 high). Bitcoin (BTC) may revisit sub-$5,000 levels in the short-term, as a widely followed…

Bitcoin Soared Massively in Stellar April, the Great Altcoin Boom is Next

By CCN.com: In the past 24 hours, the bitcoin price fell 2.16 percent against the U.S. dollar from over $5,600 to $5,422 as the crypto market slightly retraced. The valuation of the crypto market fell from $181 billion to $176 billion, by more than $5 billion on a single day. The bitcoin price is down slightly by 2.16 percent in the past 24 hours (source: coinmarketcap.com) As the bitcoin price dropped by 2.16 percent, other major cryptocurrencies like bitcoin, ethereum, ripple (XRP), and EOS recorded losses in the range of…

Bitcoin (BTC) Price Correction Approaching Significant Support

Bitcoin price corrected lower recently and traded below $5,500 and $5,480 against the US Dollar. The price traded close to the $5,370 level and it is currently trading with a bearish bias. There is a key bullish trend line formed with support at $5,405 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses towards the $5,340 support before it could bounce back. Bitcoin price started a major downside correction below $5,450 against the US Dollar. BTC may test the key $5,340-5,350 support…