Tag: crypto

  • Bitcoin price breaks below $20K amid crypto selloff

    Bitcoin price breaks below $20K amid crypto selloff

    • Bitcoin price fell below $20,000 for the first time since November 2022.
    • The top crypto asset by market cap dumped amid broader selloff for cryptocurrencies, largely fueled by negative news.
    • Among other news, the New York Attorney General has sued KuCoin over offering of unregistered securities, with Ethereum named as one of the securities.

    Bitcoin price has dropped nearly 10% in the past 24 hours amid negative cryptocurrency news that could yet catalyse further losses.

    As the Bitcoin price chart below shows, the value of the leading cryptocurrency by market fell to lows of $19,569 on cryptocurrency exchange Bitstamp. 

    Bitcoin price fell below $20,000 to hit $19,569 on Bitstamp. Source: TradingView

    This after a selloff that began late Thursday extended into Friday morning, with the dump pushing BTC below the psychological support zone of $20,000 for the first time since November 2022 during the FTX dump.

    Why Bitcoin and crypto crashed today

    As CoinJournal reported early Friday, today’s selling pressure for cryptocurrencies comes after the New York Attorney General sued the crypto exchange Kucoin alleging it sold unregistered securities. The negative news was compounded by the fact that the lawsuit identified Ethereum as one of the securities.

    The market’s reaction saw Ethereum price plunge to lows of $1,375 and was down 9.8% at the time of writing.

    Overall selloff pressure also follows news that crypto bank Silvergate was winding down. The company’s shares plummeted nearly 50% in the aftermath, with fears of even more damage amid a Silicon Valley “bank run.”

    Another headline news likely to have fueled fresh downside for crypto was reports that the US was targeting a new tax on Bitcoin mining. Huobi Token’s flash crash and a security breach on Hedera also added to the broader market bloodbath.

    Crypto analyst Miles Deutscher highlighted this confluence of negative triggers, noting that stocks and cryptocurrencies have shed over $2 trillion in market cap over the past 24 hours. 



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  • Crypto bleeding has most altcoins in buying zone: Santiment

    Crypto bleeding has most altcoins in buying zone: Santiment

    • The MVRV metric suggests most altcoins are underbought and present a buying opportunity.
    • A new leg down could however push some of the tokens into a danger zone.
    • Crypto prices have decline alongside weaknesses stocks.

    The total cryptocurrency market cap is down 1.7% at the time of writing as the broader crypto market battles yet another bout of heavy losses.

    Bitcoin price fell below $21,700 again while Ethereum traded to lows of $1,530 on Thursday, with the leading crypto assets continuing the weakness we highlighted on 8 March. 

    Santiment data signals “time to buy altcoins”

    According to analysts at market intelligence firm Santiment, the “heavy bleeding” witnessed across the crypto market this week has many altcoins flashing buy signals. Many of the altcoins suggest an underbought outlook as traders realize losses, the firm noted in a tweet posted early Thursday.

    One indicator pointing to current price levels as opportune buying zones is the Market Value Realized Value (MVRV) ratio. While prices could still fall, Santiment suggests most altcoins are trending in an opportunity zone where prices are likely to rebound higher.

    Notably though, the market could still see a new leg down, pushing some of the coins into the danger zone.

    If you have been awaiting the time to buy altcoins when there is blood in the streets, our MVRV model indicates that this time has arrived. Prices can of course still fall further, but this is the most crypto assets have been in opportunity zones since early January” Santiment tweeted.

    As CoinJournal reported earlier this week, the downside followed more negative news around crypto bank Silvergate and this week’s economic commentary from Fed Chair Jerome Powell.

    In particular, the Fed’s hawkish outlook has the market anxious and that was visible as stocks also fell on Wednesday.



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  • Bullish Bitcoin Price Indicates Crypto Market Recovery

    Bullish Bitcoin Price Indicates Crypto Market Recovery

    With Bitcoin’s price making a resurgence, investors are gearing up for a bull market in 2023. Crypto signal providers are seeing renewed interest thanks to their ability to save investors time and money by pinpointing the best entries. Many savvy traders continue to recommend AltSignals as the go-to platform.

    Thanks to its sterling reputation, AltSignals’ recently announced ASI token presale is expected to be huge. In this article, you’ll find out why AltSignals is so highly regarded and why its ASI token could elevate the online trading experience for investors all across the globe. 

    Bitcoin Price Revitalized, Prompting Investors To Check Out AltSignals

    It seems like a risk-on mood is back in the markets. With the Fed expected to slow down or reverse interest rate hikes this year, investors have been loading up on crypto before the next bull cycle begins. 

    Since the start of 2023, Bitcoin’s price has risen almost 47% from around $16,500 to a high of approximately $24,250 in early February. This rapid ascension in Bitcoin’s price has accompanied a surge in interest in online trading, leading many investors to start looking for the best crypto signal providers to boost their profits. One name that has regularly cropped up is AltSignals. 

    What Is AltSignals?

    AltSignals is a leading name in the crypto signals industry, established in 2017. It uses a team of market experts and professional traders to combine technical and fundamental analysis with its in-house algorithm, AltAlgo™. As a result, AltSignals has earned a reputation as one of the most reliable and profitable signal providers out there. 

    This reputation is quickly validated when looking over their stats. Over 52,000 traders rely on the 3,700 trade calls it has produced since its launch, with the platform holding a 4.9/5 rating on Trustpilot after receiving nearly 500 positive reviews. The actual trading results speak for themselves: AltSignals has returned over 10,000% in 19 out of 32 months on record.

    AltSignals’ ASI token is projected to attract a new wave of attention to the AltSignals platform. This is due to the excellent benefits ASI will offer holders that will help them make the most out of their online trading journey. 

    How Is ASI Expected To Change the Online Trading Game?

    ASI is an Ethereum-based token that will act as the fuel for the AltSignals ecosystem. Its primary use case will be to access and receive signals from the upcoming ActualizeAI algorithm. This algorithm will boost AltSignals’ accuracy further thanks to a comprehensive AI stack, which includes machine learning, predictive modelling, and sentiment analysis. For ASI holders, they’ll be the first in line to experience the power of this new algorithm. 

    Holding ASI will also grant exclusive entry into the ActualizeAI Club, where users can play an active role in giving feedback and helping to test the ActualizeAI algorithm in return for early access to the latest upgrades and earning ASI tokens. In the process, they’ll work directly with the AltSignals team to improve their products and optimize the signals produced. 

    ASI will become the platform’s governance token, allowing users to vote on new upgrades, partnerships, and more. They’ll also be able to set the token’s buyback and burn rate, which will help to restrict the supply of ASI over several years and potentially lead to price appreciation.

    The Long-Term Outlook for ASI

    The ASI token is predicted to see exceptionally high demand, with many projecting that the ASI presale will sell out rapidly. Traders are expected to flock to the token when they find out it grants access to the ActualizeAI algorithm and Club.

    This group alone could easily send ASI skyrocketing as traders rush to become part of an elite group dedicated to building one of the greatest trading algorithms the world has ever seen.  This spirit of collaboration and mutual support will set AltSignals apart from other signal providers and is set to be a major contributing factor in the success of the ASI token.

    Consequently, several analysts predict that ASI will climb well beyond its final presale price of $0.02274, with some forecasting that $0.50 is easily achievable by the end of 2023. If $0.50 is reached, investors could be up almost 2,100% in just under a year – far beyond what any Bitcoin price prediction could hope to attain. 

    Should You Invest in ASI?

    As Bitcoin’s price continues to grow and the bull market heats up, AltSignals will likely see a massive surge in interest. Thanks to the ActualizeAI algorithm and the platform’s proven reputation, its ASI token will likely be one of the lucky few that return life-changing gains in 2023. 

    The beta sale price of $0.012 seems exceptionally undervalued, so expect this first phase to sell out quickly. If you’re thinking of getting involved, be sure to visit their presale website

    You can participate in the AltSignals presale here.

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  • Crypto VC exec on bulls’ case

    Crypto VC exec on bulls’ case

    • Chris Burniske says Ethereum could outperform Bitcoin in March due to the Shanghai upgrade.
    • Burniske is a partner at crypto-focused VC Placeholder and formerly of ARK Invest (crypto division).
    • According to the investor, pullbacks are likely to remain “within current uptrend.”

    Chris Burniske, partner at venture capital firm Placeholder and former head of crypto ARK Invest, is bullish on crypto going into March.

    The investor believes the recent flip in sentiment has not resulted in deeper rot for major cryptocurrencies, despite the weakness seen across stocks amid investor anxiety over interest rates.

    In a tweet posted this weekend, Burniske said the outlook is mostly bullish as recent pullbacks have been largely mild.

    From where I sit, I’m surprised crypto hasn’t pulled back more given weakness in equities and upward repricing in rates — bullish,” he noted.

    Ex-ARK Invest head of crypto shares Ethereum and Bitcoin price predictions

    Bitcoin and Ethereum have both retreated from year-to-date highs, from above $25k and $1.7k respectively. 

    As noted above, the leading digital assets by market capitalization have given up the recent gains amid continued jitters over US inflation data. Buy-side volume has also tanked on shifting sentiment around the regulatory environment in the United States returned sell-off pressure across the markets.  

    But while Bitcoin has retraced to support around $23,000 and Ethereum continues to hover around $1,600, the crypto bull says any further losses in the short term are likely to be “within the current uptrend.”

    To those saying some version of “just wait,” sure we could pull back a bit more, but calls for new lows anytime soon are silly. Pullbacks are consolidation within the current uptrend, imo,” the investor added.

    In terms of price prediction for the top two coins, Burniske thinks Ethereum will outperform Bitcoin in March. According to him, ETH is likely to gain fresh momentum from the highly anticipated Shanghai upgrade, which is expected to drive staking flows. 

    The outlook is supported by on-chain data, which shows new value sent to the ETH 2.0 deposit contract continues to rise. 

    Crypto analytics firm Santiment recently shared a chart showing that the number of newly staked coins rose a 5-month high count earlier this week.



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