Choppy Price Action Remains Theme in Crypto

Choppy Price Action Remains Theme in Crypto

  • Bitcoin (BTC) held onto price support near the $9,000 level.
  • Concerns remain about a second wave of the Corona Virus.
  • Bitcoin (BTC) continued to trade in a rather quiet, choppy fashion. Following the BTC halving, prices have gyrated back and forth in a range-bound manner, frustrating both bulls and bears. Crypto prices started the week on a positive note but surrendered early gains mid-week. The drop was spurred on by news that the U.S Director of Trade Peter Navarro said the phase one trade deal with China was no longer on. Though this led to a quick price shock, both equities and cryptocurrencies stabilized after the Trump administration clarified the statement and assured the public that the deal is still on.

    In crypto specific news, reports emerged that fintech behemoth PayPal (PYPL) will roll out a service allowing users to buy and sell crypto through the firm’s popular Venmo app. PayPal already has an existing relationship with crypto exchange CoinBase.

    • June 20th marked the first anniversary of Facebook’s (FB) announcement of plans to create the digital currency Libra.
    • Investors brace for potential “second wave” of Corona Virus as numbers rise across the nation.
    • Glassnode data shows that the number of Bitcoin (BTC) sent from miners decreased recently, indicating that inefficient miners may have potentially ceased operations.
    • BTC is now available for purchase at over 20,000 pharmacy chains and convenience stores.

    The technical picture of Bitcoin (BTC) and many of the other major cryptocurrencies remains the same. Range bound; directionless action continues to be the theme. Recently crypto markets have been somewhat correlated to equity markets. Gyrations in price continue to occur any time major headlines about Covid-19 numbers or the U.S China trade deal are released.

    • BTC daily chart with support and resistance levels

    Bitcoin (BTC) bulls are still looking for price to get back above $10,000. The $10,000 level has been breached multiple times over the last few weeks, but the key is for price to hold above the level. For bears to gain momentum, price needs to get and stay below $9,000. Investors will want to stay tuned. Periods of long BTC price contractions have led to significant price movements in both directions.


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    Top 4 Altcoins For INSANE Gains During 2020! (Top Micro-Caps!)

    Top 4 Altcoins For INSANE Gains During 2020! (Top Micro-Caps!)

    Streamr: Streamr is a distributed open-source project, crowdfunded in 2017. The project’s goal is to build the decentralized infrastructure for real-time data, replacing centralized message brokers with a global peer-to-peer network. By relying on cryptography instead of trust, the open-source network aims to enable data sharing and monetization in IoT and smart cities, business consortia, individual crowd selling through Data Unions and the decentralized web (Web 3.0).

    The Streamr tech stack includes a pub/sub messaging network, data marketplace to trade and crowdsell real-time data, and a real-time data toolkit.

    Elrond: Elrond describes itself as a new blockchain architecture, designed to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two features: Adaptive State Sharding mechanism, and a Proof of Stake (PoS) algorithm, enabling linear scalability with a reportedly fast, efficient, and secure consensus mechanism. Thus, Elrond can reportedly process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost. It aims to become the backbone of a permissionless, borderless, globally accessible internet economy.

    Unibright: Unibright offers a unified framework that aims to bring blockchain technology and smart contracts to mainstream usage. Unibright develops enterprise blockchain solutions, builds integration platforms, and offers an ecosystem around tokenized assets. With its “no-coding-needed” approach, smart contracts can be generated, deployed, and updated automatically into different blockchains. Unibright works with visual, use case-related templates, and also automatically integrates existing IT systems into the blockchain.


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    Cardano, EOS, DigiByte Price Analysis: 26 June

    Cardano, EOS, DigiByte Price Analysis: 26 June

    Once again, it would seem that the cryptocurrency market has simmered down, with Bitcoin, the world’s largest cryptocurrency by market cap, still stuck between the $9,500 and $9,000 levels.

    Source: CoinStats

    At the time of writing, BTC was being traded at $9154 with a 24-hour trading volume of $7.4 billion. The lack of movement in BTC’s price following the $500 drop a few days ago seemed to have passed on to the altcoin market as well, with alts such as Cardano, EOS, and DigiByte keeping steady, if not consolidating.

    Cardano [ADA]

    Source: ADA/USD on TradingView

    Cardano has been one of the cryptocurrency market’s best-performing altcoins this year, with ADA, at the time of writing, well past the price levels it hit right before the crash in March. In fact, ADA’s uptrend on the charts has been steep, especially so since the last week of May. At press time, this uptrend had stalled somewhat, however, with ADA’s value affected by Bitcoin’s twin falls on the 11th and the day before. ADA was priced at $0.08, having recorded a 6.79% hike in its value over the last 2 weeks.

    Cardano’s technical indicators underlined the bullish nature of the ADA market as not only were the Parabolic SAR’s dotted markers well below the price candles, but the Chaikin Money Flow had also stabilized right above zero, a sign of steady capital inflows.

    The optimism shared by Cardano community members is palpable, with the same sentiment shared by many others too. In fact, just recently, Messari’s Ryan Selkis had tweeted that he expected Cardano, among other alts like Tezos, to challenge for a plan in the top-10 of the cryptocurrency rankings. This is just more validation for the work happening in the Cardano ecosystem, with the Shelley mainnet still on-track for release on the 29th of June.


    Source: EOS/USD on TradingView

    EOS, once a regular near the top of the cryptocurrency rankings, now languishes down at 9th on the charts. It’s not hard to see why EOS has fallen so badly, however, with its price charts a reflection of its disappointing price performance over the past few months. In fact, while the crypto did recover its Black Thursday losses briefly back in May, it hasn’t recuperated yet from the market depreciation that preceded Bitcoin’s halving, with EOS priced at $2.48, at press time. Over the past 2 weeks, the crypto was down by almost 10%.

    The mouth of the Bollinger Bands was holding steady since the crypto’s movement over the past few days has largely been stagnant. The Relative Strength Index, however, was leaning slightly towards the oversold zone.

    On the news side, while the crypto itself hasn’t noted any developments, it was in the headlines a few days ago after it was reported that a wallet associated with the PlusToken Ponzi scheme had moved EOS worth $67M.

    DigiByte [DGB]

    Source: DGB/USD on TradingView

    DigiByte, ranked 36th on the cryptocurrency charts, has had an interesting 2020, to say the least. While like other alts it too was affected by Bitcoin’s dramatic fall back in March, DGB recovered exponentially in the months after. In fact, right before Bitcoin’s halving, the crypto rose to as high as $0.024 on the charts. While the crypto’s not at the same level at the time of writing, it’s movements remain, to a degree, contrary to the rest of the market.

    Over the last 10 days, DigiByte not only rose by 33%, but it also fell by almost 10% following BTC’s fall a few days ago. Interestingly, DGB was noting YTD returns of over 240%, at the time of writing.

    While the MACD line was well below the Signal line on the charts, the Awesome Oscillator pictured minimum momentum in the market.

    News source


    Author: Published 17 hours ago

    Two Forms of Bitcoin FOMO, Max Keizer Explains Reactions of Late Consumers

    Two Forms of Bitcoin FOMO, Max Keizer Explains Reactions of Late Consumers

    There are a variety of famend buyers like Warren Buffet, Jim Rogers, Peter Schiff and so forth who reject the concept of Bitcoin. Amongst them, Schiff is likely one of the main critics, voicing his rip-off and Ponzi name on Bitcoin and crypto frequently.

    In line with Max Keizer, these ‘not’ Bitcoin influencers are the one’s who take pleasure in FOMO at highs later. He tweeted,

    @PeterSchiff Jim Rogers, @mcuban (Mark Cuban) and different pre-coiners characterize big pent-up #Bitcoin shopping for demand. After they lastly perceive it, they’ll go all-in with big buys. I 100% assure this to be the case.

    He steered that Peter Schiff goes to set off a panic purchase at $50,000.

    Furthermore, he additionally went onto assault John McAfee, the founding father of McAfee Anti-Virus, who stepped down from supporting Bitcoin to different cryptocurrencies.

    McAfee was widespread within the crypto group for his $1 million/Bitcoin prediction. Nonetheless, he shifted his perception to a tokenized world with different cryptocurrencies main the cost cost. In line with Keizer, the aim of shilling and advertising altcoins is barely a futile try to copy the early positive aspects in Bitcoin.

    This has some reality in it as altcoin funding has often been motivated to ‘stack sats.’ Keizer tweeted,

    Instance of somebody who’s *not* a #Bitcoin influencer: John McAfee He got here to BTC late (was already previous $2,000) And after preliminary, splashy outrageousness – proceeded to wipe out Bitcoiners globally together with his extraordinarily dodgy ‘coin of the day’ rip-off #KingOfScammers

    He went on the decision Mrs McAfee a ‘Karen’ (referring to the meme a snout ignorant lady) who replied in John’s defence. Nonetheless, Keizer continued to indicated that McAfee is suited to shill ‘Karencoin.’ McAfee had a humble response to Keizer and kept away from going into the specifics. He tweeted,

    @maxkeiser has, for some cause, been trashing me just lately. I don’t thoughts. I’m, certainly, very trashable. I do, nonetheless, respect Max, and even included him in my high 50 record of Crypto Influencers – every with their very own film poster:

     Do you agree with Max Keizer’s views? Please share your views with us. 


    Two Types of Bitcoin FOMO, Max Keizer Explains Reactions of Late Buyers

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    Two Forms of Bitcoin FOMO, Max Keizer Explains Reactions of Late Consumers


    There are a variety of famend buyers like Warren Buffet, Jim Rogers, Peter Schiff and so forth who reject the concept of Bitcoin. Amongst them, Schiff is likely one of the main critics, voicing his rip-off and Ponzi name on Bitcoin and crypto frequently. 


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    Choppy Price Action Remains Theme in Crypto

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