Crypto Ethone

Why Bitcoin Price Is Now Likely to Pull Back Bitcoin price is up 25% for the month of May, but is a pullback now imminent? 15796 Total views 87 Total shares MARKET ANALYSIS Bitcoin (BTC) price was once again sideways last week with price action between bulls and bears proving to be equal. But scenarios look likely for Bitcoin as we approach the month of May comes to a close? Let's take a look at what's happening with the largest cryptocurrency by market capitalization, BTC.  Daily crypto market performance. Source: Coin360.com A bullish monthly candle close  BTC/USD 1-Month chart. Source: TensorCharts Starting out on the monthly, we can see that Bitcoin grew in value by nearly 25% in the month of May. This is always a nice thing to see. However, since the March 12 dump, it's nothing for long term hodlers to get excited about just yet.   Nevertheless, as the one month candle is due to open above the .382 fib retracement level, a move up towards the .618 of ...

Bitcoin Google Interest Mimics $10K Price Run as ‘Halving Hype’ Fades Search patterns head lower, indicating that the halving is no longer driving interest in Bitcoin as price action centers on $9,500. 10871 Total views 58 Total shares MARKETS NEWS Bitcoin (BTC) interest is hitting levels that last appeared during its March crash recovery as hype over the halving finally fades. According to the latest data from Google Trends, as of May 30, search interest was back to the same position as in mid-April. At the time, BTC/USD jumped from $6,800 to over $10,000 over the next three weeks. BTC ditches “halving hype”  Google Trends shows that overall interest involving Bitcoin has declined rapidly since the halving on May 11. As Cointelegraph reported, it was this event that triggered an uptick in mainstream interest, coming amid continued economic uncertainty worldwide.  The price run from $6,800 topped out just days before the halving date, while markets conversely did no...

The Worst Crisis in a Century Is Setting the Stage for Bitcoin The world’s existing economies are suffering due to the COVID-19 pandemic, which has revealed the main benefits of decentralized tech and crypto. 5238 Total views 109 Total shares OPINION By Ethones The COVID-19 pandemic has ravaged the economies of countries all around the world and is showing no signs of stopping.  The overwhelming response from global governments has been to place their countries under full or partial lockdowns.  This has arguably saved many lives, but the economic fallout has been savage.  The United States alone is on track to see a record 30% rate of unemployment and an unprecedented 30% drop in gross domestic product.  China, the European Union, Japan and the United Kingdom aren’t faring that much better. In such uncertain times, investors are naturally nervous.  After the massive crash in March, and amid rising joblessness and fear, the stock mar...

The price of  bitcoin  (BTC) shot above $9,100 Wednesday in high-volume buying at around 10:00 UTC (6 a.m. ET) thanks to traders feeling optimistic about the crypto markets.  As of 20:40 UTC (4:40 p.m. ET), bitcoin was trading at $9,162, gaining 3.5% over the previous 24 hours. Trading seems to support a higher upward climb as bitcoin’s price is now above its 10-day and 50-day moving averages, a signal of bullish sentiment. The question for the market is whether bitcoin’s price can continue to rise after Tuesday’s struggle to stay at $9,000. Traders like to talk about the $10,000 level as some kind of barrier to blow through that will result in new highs, but bitcoin hasn’t been able to push past that number since hitting it for a short time on May 7.  “Bulls seem unable to break the $10,000 psychological support for some time since the halving,” said Peter Chen, a cryptocurrency trader at Hong Kong-based OneBitQuant. Bitcoin trading on Coinbase in May...

San Francisco-based cryptocurrency exchange Coinbase is finally acquiring Tagomi, a prime brokerage platform specializing in digital asset trading . Announced Wednesday, the two companies said the deal is expected to be finalized later this year, without disclosing the financial terms. “We are going to be integrating the Tagomi platform into our product suite and it will form the foundation for the future of our institutional trading business,” said Shan Aggarwal, head of corporate development at Coinbase . In terms of how the integration will pan out, Aggarwal added: “Tagomi will continue to operate for the near future. We’re still thinking through long-term options.” The purchase of Tagomi by Coinbase has been in the pipeline since last year when the deal was prematurely reported to have closed.  A source familiar with recent developments said it was an “all-stock deal” and “significantly less” than the $150 million reported last year.  Crypto prime brokerage, wh...

With bitcoin’s price losing altitude again, small investors appear to be seeking exposure to the top cryptocurrency by market value. Prices fell by 9.8% last week to register bitcoin’s biggest weekly decline since the second week of March, according to CoinDesk’s Bitcoin Price Index. A two-week low of $8,630 was registered early on Monday, with prices last seen at $8,730 – down over 11% from the post-halving high of $9,960 registered on May 18.  Despite the price drop – or perhaps because of it – the number of addresses holding smaller amounts of bitcoin has continued to rise.  The number of unique addresses holding at least 0.01 BTC (around $87 at press time) rose to a new high of 8,478,746 on Sunday, according to data provided by blockchain intelligence firm Glassnode. Meanwhile, the number of addresses holding at least 0.1 BTC (roughly $870) also rose to a lifetime high, reaching 3,053,004 on Friday. Both metrics regained their upward trajectory following the...