Bitcoin Breaks $9K After $400 Hourly Spike: Still Needs To Overcome Critical Resistance (BTC Price Analysis)

Over the past three days, Bitcoin was trading sideways between $9000 from above and $8650 from below. After getting rejected yesterday at the $9K resistance, along with the descending yellow trend-line as marked on the following 4-hour chart, BTC had dropped down to Sunday’s low around the $8650 support line (as mentioned on our yesterday’s price analysis). However, the support line...

Ethereum (ETH) Is Undervaluead: These 4 Metrics Explain Why

By examining numerous aspects of the Ethereum network since its launch in 2014, a cryptocurrency research firm concluded that the asset price is significantly undervalued. Ethereum Developments Blockfyre based the analysis on several core features of the Ethereum network and its performance in the past six years. Firstly, the company examined the development activities, saying that they have been continuously increasing,...

Analysis: Bitcoin’s Inverse H&S Could Dump Price To $7,200 Before $16,000 Target

Popular cryptocurrency analyst believes that Bitcoin’s price is heading towards $7,200 based on an inverse Head and Shoulders pattern. Interestingly, if BTC is indeed trading within the inverse H&S, the breakout could hand Bitcoin a target of $16,000. BTC: $7,200 Followed By $16,000? The inverse head and shoulders technical pattern is identified when the price of an asset firstly drops to...

Gemini and Bitwage Combine to Launch Bitcoin 401(k)

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Bitwage has announced the launch of what’s reportedly the world’s first Bitcoin 401(k) plan, enabling companies to give employees the ability to invest their pre and post-tax dollars in Bitcoin. Announced by Bitwage CEO, Jonathan Chester, the launch comes after the company tested the system for ten months on its own employees. World’s First Bitcoin 401(k) According to the report, companies can...

Grayscale: CBDC’s Won’t Hurt Bitcoin – They’ll Set the Stage for It

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The inevitable onslaught of central bank digital currencies (CBDCs) won’t harm Bitcoin’s value proposition – in fact, it will give it a serious shot in the arm. That’s the key takeaway from Grayscale Investments’ May report on how the rollout of CBDC’s will affect the status of Bitcoin. CBDCs are digital currencies centrally issued and controlled by central banks. In this...

The V-Shaped Recovery: S&P 500 Surpasses 3000 As The COVID19 Effects Almost Gone

Legacy markets have almost entirely recovered from their sharp downturn in the middle of March. It appears that the adverse effects of the novel coronavirus COVID-19 are well behind. Despite the doom-and-gloom predictions of many economists, major indices are going up steadily. The S&P 500 Down Just 10% From Its February Levels The S&P 500 is currently trading at above 3,000...

Facebook Rebrands Its Calibra Wallet: It’s Now Known as Novi

Facebook continues with the reforms to its future cryptocurrency project as Libra’s wallet provider Calibra has been rebranded to Novi. Despite the name change, though, the subsidiary of Facebook will not revise any of its long-term commitments and goals. Calibra Becomes Novi Facebook introduced today the new name Novi, inspired by the Latin words “novus” for “new” and “via” for “way.”...

Ripple Price Analysis: XRP Consolidates Around $0.2 But Decision Time Is Near, What’s Next?

XRP dropped by a small 1.5% over the past 24 hours as it falls back into the $0.192 support. The cryptocurrency has now formed a very acute descending triangle formation. Against Bitcoin, the XRP recovery continues but is finding some resistance at the 2200 SAT level.Key Support & Resistance Levels XRP/USD: Support: $0.192, $0.18, $0.175. Resistance: $0.207, $0.215, $0.225. XRP/BTC: Support: 2150 SAT, 2100 SAT, 2070...

Tencent Plans to Invest $70 Billion In Blockchain And Emerging Tech

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Chinese multinational tech behemoth, Tencent has revealed its plans to invest heavily in emerging technology industries, including blockchain. Tencent To Invest $70 Billion According to a Tuesday report, the company will, over the next five years, invest 500 billion yuan ($70 billion) into this project, which it describes as investing in “new infrastructure.”  Speaking about the development, Dowson Tong, Senior Executive VP...

Indian Cryptocurrency Exchange Secures $2.5M Funding As RBI Confirms Crypto Traders Can Open Bank Accounts

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One of India’s leading cryptocurrency exchanges, CoinDCX, has secured $2.5 million as part of a move, aiming to give a thrust to further cryptocurrency adoption in the country. The investment is led by Polychain Capital and supported by Coinbase Ventures as well. A Bold Effort To Increase Crypto Users In India To 50 Million There’s the idea that the financing of...