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Bitcoin Price Compressing Again, Which Direction Will It Move After The Blast!

bitcoin dump

The post Bitcoin Price Compressing Again, Which Direction Will It Move After The Blast! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The tiny variations among major tokens have raised many concerns with the bull rally. Bitcoin price is also among those coins which undergo an uptrend in a few couples of hours and plunges the rest of the day. Woefully, this trend is followed each day in the past fortnight and hence the BTC price consolidation …

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The tiny variations among major tokens have raised many concerns with the bull rally. Bitcoin price is also among those coins which undergo an uptrend in a few couples of hours and plunges the rest of the day. Woefully, this trend is followed each day in the past fortnight and hence the BTC price consolidation has extended extremely.

The price has again dropped close to $33,000 after reaching heights above $34,000. The resistance and the support levels also have come closer, squeezing the Bollinger Bands. The compressed bands could be an indicator for an upcoming large movement. However, with a bang, the price is expected to either surge to the next level or plunge below the average levels. 

btcprice

As the squeezed Bollinger bands and hence considering the previous trend, a downfall could be on the way. However, a substantial bounce could also follow, but the highest resistance shall be restricted at $40K. 

Also Read: Ethereum Price Stooping New Low, $1700 May Be The Next Target!

The major reason for the upcoming bearish scenario could be the extreme fear for the asset in the market. A popular analyst CryptoBull predicts that the BTC price could revisit $28,000 as an outcome of an extended fear for 60 days.

The narrow trend of Bitcoin price may be a matter of concern, however, it may continue for more time. As predicted by some of the analysts, BTC price may gear up yet again in mid-August. And hence the bull run would resume towards the set target at $100K.

Also Read: Chainlink(LINK), Phala Network(PHA) & Sandbox(SAND) are poised for a huge uptrend!

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Source: https://coinpedia.org/price-analysis/bitcoin-price-compressing-again/

Blockchain

This is one way Binance was ‘ready to assist regulators from around the world’

Binance announced launching a Tax reporting tool API. This new API tool will allow Binance users to track their crypto activities to ensure they are fulfilling the reporting requirements laid out by t

The post This is one way Binance was ‘ready to assist regulators from around the world’ appeared first on AMBCrypto.

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Binance announced launching a Tax reporting tool API. This new API tool will allow Binance users to track their crypto activities to ensure they are fulfilling the reporting requirements laid out by the regulators. This tool will be made available on the Binance website and application.

CEO of Binance, Changpeng Zhao (CZ) had recently conducted a press conference where he shared the steps taken by the crypto exchange to comply with local regulations. The addition of this new API tool was added to the list of changes Binance was making. CZ on Twitter and stated:

“Binance is ready to assist regulators from around the world and together find the optimal way to set a fair playing field – consumer protection is important to all of us. We want to create a sustainable ecosystem around blockchain technology.”

CZ has assured adopting new regulations to be able to serve their customers. To do so, the exchange applied for “licenses and approvals where there is an existing legal framework for crypto exchanges.” This included regions like the Asia-Pacific, EMEA [Europe, the Middle East, and Africa], and Latin America.

Binance also enhanced its KYC efforts. It recently updated its daily withdrawal limits from 2 BTC to 0.06 BTC [~ $2,000] for accounts that have only passed basic account verification. Meanwhile, the Binance futures was limiting new futures accounts created within the past 30 days to 20x leverage from 19th July and this limit will be extended to accounts opened within the past 60 days, by 27th June.

Even though Binance was trying to be more compliant, there were rumors about the CEO being replaced. However, CZ assured that there were “no immediate plans”.

“There are no immediate plans to replace me as CEO. (Journalists like to mis-quote this). I always humbly invite everyone @binance or outside to raise their hand at this job.”

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Source: https://ambcrypto.com/this-is-one-way-binance-was-ready-to-assist-regulators-from-around-the-world

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Blockchain

Ethereum, Dogecoin and Ethereum Classic Price Analysis: July 28

Ethereum flashed increased signs of volatility with adequate buying pressure, Dogecoin displayed a shorting opportunity along with decreased trading volume. Lastly, Ethereum Classic showed decreased b

The post Ethereum, Dogecoin and Ethereum Classic Price Analysis: July 28 appeared first on AMBCrypto.

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Ethereum flashed increased signs of volatility with adequate buying pressure, Dogecoin displayed a shorting opportunity along with decreased trading volume. Lastly, Ethereum Classic showed decreased buying strength at press time. 

Ethereum

Ethereum, Dogecoin and Ethereum Classic Price Analysis: July 28

ETH/USD, TradingView

Ethereum’s price regained traction after the alt plunged briefly on Tuesday; at press time the coin was valued at $2298. It regained 4.3% overnight and rose 28.3% over the last week. Its market capitalization went up by 4.45%. Overall, the coin displayed bullish sentiments, however, it is extremely vital for the bulls to have enough momentum to push through the $2390 to test the $2400 mark. 

Volatility remains a factor for ETH’s prices as indicated by Bollinger Bands.

The buying pressure remained consistent for the last 24 hours, with small dips in buying pressure. Relative Strength Index stood at the 60-mark which painted a bullish picture and adequate buying pressure. 

On 27 July, MACD indicator displayed a bearish signal, however, it was on the decline as prices surged. 

Dogecoin

Ethereum, Dogecoin and Ethereum Classic Price Analysis: July 28

DOGE/USD, TradingView

In the last 24 hour, while other altcoins have risen considerably, DOGE only recorded a 4% gain. On the weekly chart, Dogecoin recorded a substantial 21.6% gain. 

The trading volume of DOGE over the last 24 hours decreased by 116.12%, which validates the dip in buying pressure since yesterday. Relative Strength Index noted a slight uptick at press time indicating that buying pressure came back into the market. 

The technical outlook flashed a shorting opportunity for DOGE, as Squeeze Momentum Indicator indicated that the market was about to enter a squeeze with an expected price breakout. 

Green signal bars on Awesome Oscillator flashed the built-up of bullish signal and if the bulls recuperate and push the prices further up, then the coin would experience resistance at $0.21. At the time of writing, Dogecoin was priced at $0.20. 

Ethereum Classic

Ethereum, Dogecoin and Ethereum Classic Price Analysis: July 28

ETC/USD, TradingView

Ethereum Classic was trading in the red at press time; however, it accounted for a minor 3.0% daily gain. 

The weakening of the current market trend of ETC was seen on Average Directional Index, which hinted at the possibility of prices dipping. With a further dip in prices, ETC would hover near the $46 support level or even fall through it. 

Buying pressure also dipped as Relative Strength Index noted a downtick at press time. Trading volume also fell by 19.20% signifying a decreased buying strength in the market. Chaikin Money Flow also recorded some fall in capital inflows at the time of writing.

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Source: https://ambcrypto.com/ethereum-dogecoin-and-ethereum-classic-price-analysis-july-28

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AI

Analysis: Bitcoin is Undervalued, 2021 Bull Run Hasn’t Topped Yet

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During the first half of 2021, the ETH volume surged by more than 1,400% totaling $1.4 trillion, while BTC’s increased by 489%, reaching a total of $2.1 trillion.

ETH Beats BTC for The First Time

Coinbase took data from 20 trading venues and released a report, where it informed that Ether’s trading volume spiked by 1,461% during the first six months of 2021. Its total climbed to $1.4 trillion compared to $92 billion in the first half of 2020. In the meantime, Bitcoin marked an increase of 489%, and its trading volume hit $2.1 trillion.

The Coinbase report noted:

“Many of our largest institutional clients, including hedge funds, endowments, and corporates, increased or added first-time exposure to ETH in H1, believing the asset has long-term staying power tantamount to BTC’s while playing a differentiated role in their portfolios.”

The research also revealed the total market capitalization numbers for the first half of 2021. At the beginning of the year, the market started at $769 billion and surged to $2.4 trillion in May. Subsequently, it declined to $1.4 trillion by the end of the period.

The largest chunk of Bitcoin’s profits came during the first months of 2021 until April, when its price escalated towards an ATH. On the contrary, Ether saw the most of its earnings in May 2021, when it was worth more than $4,000.


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Can ETH Become The Largest Cryptocurrency?

The debate whether Ether can surpass Bitcoin and become the leading digital asset has been a hot topic in the last few years.

At the beginning of May, the billionaire owner of the Dallas Mavericks – Mark Cuban – joined the argument and gave his three reasons why ETH will eventually outperform BTC: Ethereum’s network is capable of processing more transactions per second, and it is the platform where “the future of finance” is built. It also boasts a higher utilization compared to Bitcoin.

The prominent investor Mike Novogratz also gave his two cents on the matter. The renowned crypto bull hinted that such a scenario where Ether surpasses Bitcoin is possible as the network behind the second-largest cryptocurrency is rapidly expanding. However, he outlined the characteristics of the two digital assets expecting BTC to be the digital version of gold while ETH will have different purposes:

“I think Ethereum may even become the biggest cryptocurrency one day but it will have a very different use case than BTC.”

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Source: https://coingenius.news/analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet/?utm_source=rss&utm_medium=rss&utm_campaign=analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet

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AI

Analysis: Bitcoin is Undervalued, 2021 Bull Run Hasn’t Topped Yet

Published

on

During the first half of 2021, the ETH volume surged by more than 1,400% totaling $1.4 trillion, while BTC’s increased by 489%, reaching a total of $2.1 trillion.

ETH Beats BTC for The First Time

Coinbase took data from 20 trading venues and released a report, where it informed that Ether’s trading volume spiked by 1,461% during the first six months of 2021. Its total climbed to $1.4 trillion compared to $92 billion in the first half of 2020. In the meantime, Bitcoin marked an increase of 489%, and its trading volume hit $2.1 trillion.

The Coinbase report noted:

“Many of our largest institutional clients, including hedge funds, endowments, and corporates, increased or added first-time exposure to ETH in H1, believing the asset has long-term staying power tantamount to BTC’s while playing a differentiated role in their portfolios.”

The research also revealed the total market capitalization numbers for the first half of 2021. At the beginning of the year, the market started at $769 billion and surged to $2.4 trillion in May. Subsequently, it declined to $1.4 trillion by the end of the period.

The largest chunk of Bitcoin’s profits came during the first months of 2021 until April, when its price escalated towards an ATH. On the contrary, Ether saw the most of its earnings in May 2021, when it was worth more than $4,000.


ADVERTISEMENT

Can ETH Become The Largest Cryptocurrency?

The debate whether Ether can surpass Bitcoin and become the leading digital asset has been a hot topic in the last few years.

At the beginning of May, the billionaire owner of the Dallas Mavericks – Mark Cuban – joined the argument and gave his three reasons why ETH will eventually outperform BTC: Ethereum’s network is capable of processing more transactions per second, and it is the platform where “the future of finance” is built. It also boasts a higher utilization compared to Bitcoin.

The prominent investor Mike Novogratz also gave his two cents on the matter. The renowned crypto bull hinted that such a scenario where Ether surpasses Bitcoin is possible as the network behind the second-largest cryptocurrency is rapidly expanding. However, he outlined the characteristics of the two digital assets expecting BTC to be the digital version of gold while ETH will have different purposes:

“I think Ethereum may even become the biggest cryptocurrency one day but it will have a very different use case than BTC.”

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet/?utm_source=rss&utm_medium=rss&utm_campaign=analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet

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