Alternative cryptocurrencies such as Litecoin (LTC), Stellar (XLM), and Chainlink (LINK) steal the spotlight as Bitcoin (BTC) takes a bull breather. The price of Bitcoin (BTC) achieved a new all-time high of $48,912 on Feb. 12 after which it entered into consolidation. Litecoin traded to highs of $224 on Saturday, its highest level since March 2018. Litecoin’s network activity also picked up alongside the 31% price gains seen during the week. Recent glassnode data as of Feb. 11 indicated that the number of active addresses rose to an 8-month high of 231,973. Also, the number of new addresses increased to a 22-month high of 101,862. LTC futures aggregate open interest increased by 285% over the past three months.

The uptick in the number of new addresses and futures aggregate open interest may be taken to mean an influx of investors. Notable performers in the past 24-hours include a 45.34% rally from DASH and a 17.23% move from EOS, Ravencoin is up by 19.84%. IOTA which had been stuck in a bottoming formation for over two years rallied 11.07% in the 24 hours and 128.01% on a seven-day basis. The Altcoin picked up momentum after it broke above the resistance at $0.55.

Many Altcoins are still struggling in BTC pairings. Cardano, for instance, is 380% below the all-time high in its BTC pair. If Cardano gains ground against Bitcoin, such a run would, of course, push its value in USD even higher. As regarding Bitcoin’s price move, analysts maintain that an asset moving slowly or consolidating after an explosive uptrend may be a sign of a healthy market. Stating that it’s important for Bitcoin to regain stability after a strong move to new all-time highs because of an overheated futures market.

Image Credit: Glassnode, Shutterstock

US Department of Justice charged three computer programmers who apparently belong to the infamous  North Korea-affiliated hacker group known as Lazarus for attempting to steal and extort over $1.3 billion in fiat and cryptocurrency from financial institutions. The charges also accused the trio of deploying “multiple malicious cryptocurrency applications” and “fraudulently market a blockchain platform.”

Federal Bureau of Investigation (FBI), among other agencies, investigated the cryptocurrencies stolen by the Lazarus Group. At the same time, the Department of Justice had filed a complaint to forfeit 280 crypto-accounts last year, which were connected to the laundering of approximately $28.7 million worth of crypto. Investigators were able to keep up with the Lazarus Group, despite the fact that they tried to cover their tracks by attempting to liquidate the stolen funds via “chain hopping.” 

Federal prosecutors claimed that the accused targeted hundreds of crypto firms and stole tens of millions of dollars’ worth of crypto. This included $75 million from a Slovenian crypto company in December 2017, $24.9 million from an Indonesian company in September 2018, and $11.8 million from a financial services company in New York in August 2020.

The criminal schemes also include a cyberattack on Sony Pictures Entertainment in November 2014 “in retaliation” for the film “The Interview,” which depicted a fictional assassination of the North Korean leader. 

The alleged perpetrators of the crimes, Jon Chang, Kim Il, and Park Jin Hyo, who are from North Korea, could face a prison sentence between 5 and 30 years if convicted. At the same time, DoJ charged one Ghaleb Alaumary, from Ontario, Canada, for money laundering for the North Korean conspiracy. Alaumary agreed to plead guilty to the charge, which carries a maximum prison sentence of 20 years.

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Source: theft-and-attacks

US Lawmakers Looking Into China’s Role in GameStop Pump: Report

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Former London Stock Exchange Group CEO Urges UK Government to Explore Cryptocurrencies

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The former CEO of the London Stock Exchange Group, Xavier Rolet, has advised the UK government to look into cryptocurrencies and SPACs to minimize the adverse impact of Brexit. In a recent report, Rolet claimed that the UK has trailed behind other countries in both aspects.

Born in France, Rolet is a businessman and the Chief Executive Officer of the London-based credit-focused asset management firm CQS. Before assuming this position, though, he served as the CEO of the London Stock Exchange Group and was named as one of the 100 best CEOs in the world in 2017 by the Harvard Business Review.

In a report cited by Bloomberg, Rolet touched upon the potential consequences to the UK economy following the withdrawal from the European Union and the European Atomic Energy Community, better known as Brexit.

The executive believes that the UK has two viable options to consider if it wants to minimize the risks and help the nation flourish.

In the first one, he urged the government to “promptly consider the SPAC revolution.” Also referred to as “blank check companies,” these special purpose acquisition companies (SPAC) operate as shell corporations listed on a stock exchange with the idea of buying out a private company, thus making it public. Ultimately, this strategy eliminates the need to go through a traditional initial public offering (IPO).

While the US has seen significant adoption in the past year with a 10x increase in the raised funds compared to 2019’s results, the UK regulators have halted their progress on the London markets.

Rolet’s second advice involved digital assets as he noted that “all relevant UK government agencies should be resourced to thoroughly understand cryptocurrencies.”

With proper regulations, the crypto ecosystem could “place London and the UK at the center of a reputable and safe financial market.”

While UK’s regulators have hindered SPACs’ progress within the country, the nation’s financial watchdog, the FCA, has also been rather harsh against the cryptocurrency industry.

As of the start of this year, the Financial Conduct Authority banned crypto derivatives and exchange-traded notes (ETNs) to retail customers.

Additionally, the watchdog has issued several warnings to investors that they could lose all their funds if allocated in digital assets.

The regulator also announced that all UK-based digital asset businesses need to be registered with it but extended the deadline for applications to July 9th, 2021.

Featured Image Courtesy of TheGuardian

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

Source: uk-government-to-explore-cryptocurrencies/

Decentralized finance and the numerous platforms offering investment services have been the talk of the cryptocurrency sector for several months and this has resulted in investors capturing spectacular gains for some of the top DeFi tokens like Uniswap (UNI) and AAVE. 

The fast-moving prices and 1,000% APY on staked tokens elicited cheers from investors when the market was going up, but the recent selling pressure seen as Bitcoin price dropped below $45,000 shows that the highest fliers are often the quickest to fall as traders rush to exit their positions and lock in their gains.

On Feb. 22 Bitcoin (BTC) price entered a sharp corrective phase which saw the top digital asset pullback by more than 20% from its all-time high of $58,274. As this occurred, the majority altcoins also saw double-digit corrections and DeFi tokens like PancakeSwap (CAKE) fell as much as 55%. 

The total value locked in DeFi platforms also took a hit as Bitcoin and altcoins corrected. Data from DeFi Llama shows the combined TVL of all DeFi platforms fell from $64.89 billion to $54.22 billion on Feb. 24. Cointelegraph also reported that this week’s correction led to the second-largest day of DeFi loan liquidations in history. 

The decline in TVL is a result of decreasing token values rather than protocol outflows, indicating that token holders remain committed to the continued expansion of decentralized finance and that the current yields are still incentivizing investors to rem engaged.

Market analysis indicates that despite the recent $5.8 billion Bitcoin and altcoin liquidation, bulls remain optimistic and see this price pullback as a sign of a healthy market.

The same goes for the DeFi sector, which has been in a strong uptrend since the start of the year. Increasing DEX volume as well as a rising TVL show that DeFi is still in the early stages of growth, and while pullbacks are to be expected, the overall trend is positive as institutional and retail investors increasingly gain exposure to this emerging asset class.

Source: vl-falls-to-54-4-billion

“Pundi X has the technology to empower merchants across the world to deploy easy-to-use blockchain solutions. We’re excited to bring it to the UAE market.” – Sahil Arora, ZPAE CEO

XPOS devices enable cryptocurrency transactions on the blockchain from anywhere….from trendy cafes in Seoul, South Korea, to pubs in New Hampshire, USA. Similarly, the XPASS card makes it easy for customers to pay with their crypto-assets.

“Any corner of the world where XPOS is, that’s a place where seamless transactions can take place. Both ZPAE and Pundi X essentially want the same things; making the blockchain accessible.” – Zac Cheah, Pundi X’s CEO and Co-Founder

ZelaaPayAE (ZPAE) was founded with the aim of unlocking the power of cryptocurrency in the Middle East. The ZPAE token trades on numerous exchanges such as CoinTiger, JustSwap, Bilaxy, and others. The company is engaged in introducing a number of decentralized finance products in the UAE.

Source: s-pundi-xs-merchant-crypto-payment-solutions-for-uae/

With Bitcoin seemingly consolidating just below the $13,000-level, buying momentum for most alts has also subsided over the weekend.

In fact, technical indicators for NEM and VeChain turned neutral from bullish as some selling pressure started to creep into the market. Cardano too seemed to lose bullish momentum as it faced rejection at a key level of resistance on the charts.

Cardano [ADA]

Over the past 24-hours, Cardano (ADA) had mostly maintained its prices above the 50% retracement level, as marked by the Fibonacci retracement tool.

But, at press time, ADA was registering a drop below the $0.109-level of resistance due to underlying selling pressure. Further, the dotted markers of the Parabolic SAR were above the price candles and hinted at a downtrend.

Even though a downtrend seemed to be visible from observing the technical indicators, the price could also be seen experiencing a pullback just above the 50% retracement region or the $0.106-mark.

NEM [XEM]

NEM continued to be under selling pressure, while maintaining an overall downtrend. The digital asset lost control of a key resistance level, one that resulted in a 3.5% loss over the last 24-hours.

On the other hand, the convoluted MACD lines remained neutral, although hints of a bullish crossover were starting to emerge.

The Relative Strength Index for NEM was still indicative of selling pressure, but a pattern of higher lows in the upcoming week could confirm the possibility of a trend reversal from bearish to bullish.

However, for the immediate trading sessions, NEM’s market shall continue to be under selling pressure with strong support zones existing at the $0.105-level.

VeChain [VET]

At the time of writing, it seemed like VeChain’s bulls may have entered a period of calm, with the prices noting horizontal movement over the last 48 hours.

The Aroon Indicator, only slightly bullish, might soon confirm a neutral position as the prices seem to also stabilize just above the $0.0119-level of support.

In fact, an immediate price action in either direction may take a few more trading sessions due to unchanged volatility levels, as observed by the Bollinger Bands.

A price oscillation along the median band and between the immediate support and resistance levels may continue throughout the weekend.

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A graduate in Economics and International Development, Shubham enjoys researching on economic reform process, with a special focus on China.His interests lie in FinTech & blockchain technology developments across East and S.E Asia.

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NEM (XEM) price is trading around 20% higher on the day to increase weekly gains to 50% and record a new 30-month high above $0.27.Fundamental analysis: NEM Symbol to be launched next month

NEM said it plans to launch NEM Symbol on January 14, according to an announcement where the NEM community published the snapshot and launch details of its upcoming public blockchain. Chief Executive David Shaw wrote the final components before the mainnet launch is getting ready. 

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The NEM team expects Symbol to address many enterprise-level blockchains as it will offer a variety of data/asset management solutions. Shaw said the launch of Symbol got delayed due to further developing and testing of the blockchain’s many components. 

NEM said the blockchain could be ready for launch in the middle of holidays, however, the community said it believes that mid-January was a more suitable time. The snapshot block of the rollout is 3,025,200, and NEM said the pre-launch opt-in is scheduled to end on January 9th.

The users are able to opt-in for the mainnet launch and will receive rewards of 1 XEM + 1 XYM token for every XEM they lock for the upcoming mainnet rollout. Technical analysis: Price explodes higher

XEM price is now trading 17% higher above the $0.25 mark after hitting $0.2723 earlier today. This is the highest XEM price traded since June 2018. Overall, the price action has gained about 50% this week after exploding nearly 100% in November. NEM weekly chart (TradingView)

The bullish momentum has continued to force the price action to trade above the short-term target at $0.23. The ongoing bull run means that XEM price recovered over half of total losses recorded during a major crash since April 2018. The key Fibonacci retracement line at 61.8% comes at $0.2950 and it will act as the next target for XEM buyers. Summary

NEM said it will roll out its blockchain NEM Symbol on January 14, 2021, which is expected to offer many data/asset management solutions. In the meantime, its price action exploded higher to test 30-month highs. 

NEM said it plans to launch NEM Symbol on January 14, according to an announcement where the NEM community published the snapshot and launch details of its upcoming public blockchain. Chief Executive David Shaw wrote the final components before the mainnet launch is getting ready. 

Are you looking for fast-news, hot-tips and market analysis?Sign-up for the Invezz newsletter, today.

The NEM team expects Symbol to address many enterprise-level blockchains as it will offer a variety of data/asset management solutions. Shaw said the launch of Symbol got delayed due to further developing and testing of the blockchain’s many components. 

NEM said the blockchain could be ready for launch in the middle of holidays, however, the community said it believes that mid-January was a more suitable time. The snapshot block of the rollout is 3,025,200, and NEM said the pre-launch opt-in is scheduled to end on January 9th.

The users are able to opt-in for the mainnet launch and will receive rewards of 1 XEM + 1 XYM token for every XEM they lock for the upcoming mainnet rollout. Technical analysis: Price explodes higher

XEM price is now trading 17% higher above the $0.25 mark after hitting $0.2723 earlier today. This is the highest XEM price traded since June 2018. Overall, the price action has gained about 50% this week after exploding nearly 100% in November. NEM weekly chart (TradingView)

The bullish momentum has continued to force the price action to trade above the short-term target at $0.23. The ongoing bull run means that XEM price recovered over half of total losses recorded during a major crash since April 2018. The key Fibonacci retracement line at 61.8% comes at $0.2950 and it will act as the next target for XEM buyers. Summary

NEM said it will roll out its blockchain NEM Symbol on January 14, 2021, which is expected to offer many data/asset management solutions. In the meantime, its price action exploded higher to test 30-month highs. 

Are you looking for fast-news, hot-tips and market analysis?Sign-up for the Invezz newsletter, today.

The NEM team expects Symbol to address many enterprise-level blockchains as it will offer a variety of data/asset management solutions. Shaw said the launch of Symbol got delayed due to further developing and testing of the blockchain’s many components. 

NEM said the blockchain could be ready for launch in the middle of holidays, however, the community said it believes that mid-January was a more suitable time. The snapshot block of the rollout is 3,025,200, and NEM said the pre-launch opt-in is scheduled to end on January 9th.

The users are able to opt-in for the mainnet launch and will receive rewards of 1 XEM + 1 XYM token for every XEM they lock for the upcoming mainnet rollout. Technical analysis: Price explodes higher

XEM price is now trading 17% higher above the $0.25 mark after hitting $0.2723 earlier today. This is the highest XEM price traded since June 2018. Overall, the price action has gained about 50% this week after exploding nearly 100% in November. NEM weekly chart (TradingView)

The bullish momentum has continued to force the price action to trade above the short-term target at $0.23. The ongoing bull run means that XEM price recovered over half of total losses recorded during a major crash since April 2018. The key Fibonacci retracement line at 61.8% comes at $0.2950 and it will act as the next target for XEM buyers. Summary

NEM said it will roll out its blockchain NEM Symbol on January 14, 2021, which is expected to offer many data/asset management solutions. In the meantime, its price action exploded higher to test 30-month highs. 

NEM said the blockchain could be ready for launch in the middle of holidays, however, the community said it believes that mid-January was a more suitable time. The snapshot block of the rollout is 3,025,200, and NEM said the pre-launch opt-in is scheduled to end on January 9th.

The users are able to opt-in for the mainnet launch and will receive rewards of 1 XEM + 1 XYM token for every XEM they lock for the upcoming mainnet rollout. Technical analysis: Price explodes higher

XEM price is now trading 17% higher above the $0.25 mark after hitting $0.2723 earlier today. This is the highest XEM price traded since June 2018. Overall, the price action has gained about 50% this week after exploding nearly 100% in November. NEM weekly chart (TradingView)

The bullish momentum has continued to force the price action to trade above the short-term target at $0.23. The ongoing bull run means that XEM price recovered over half of total losses recorded during a major crash since April 2018. The key Fibonacci retracement line at 61.8% comes at $0.2950 and it will act as the next target for XEM buyers. Summary

NEM said it will roll out its blockchain NEM Symbol on January 14, 2021, which is expected to offer many data/asset management solutions. In the meantime, its price action exploded higher to test 30-month highs. 

The users are able to opt-in for the mainnet launch and will receive rewards of 1 XEM + 1 XYM token for every XEM they lock for the upcoming mainnet rollout. Technical analysis: Price explodes higher

XEM price is now trading 17% higher above the $0.25 mark after hitting $0.2723 earlier today. This is the highest XEM price traded since June 2018. Overall, the price action has gained about 50% this week after exploding nearly 100% in November. NEM weekly chart (TradingView)

The bullish momentum has continued to force the price action to trade above the short-term target at $0.23. The ongoing bull run means that XEM price recovered over half of total losses recorded during a major crash since April 2018. The key Fibonacci retracement line at 61.8% comes at $0.2950 and it will act as the next target for XEM buyers. Summary

NEM said it will roll out its blockchain NEM Symbol on January 14, 2021, which is expected to offer many data/asset management solutions. In the meantime, its price action exploded higher to test 30-month highs. 

XEM price is now trading 17% higher above the $0.25 mark after hitting $0.2723 earlier today. This is the highest XEM price traded since June 2018. Overall, the price action has gained about 50% this week after exploding nearly 100% in November. NEM weekly chart (TradingView)

The bullish momentum has continued to force the price action to trade above the short-term target at $0.23. The ongoing bull run means that XEM price recovered over half of total losses recorded during a major crash since April 2018. The key Fibonacci retracement line at 61.8% comes at $0.2950 and it will act as the next target for XEM buyers. Summary

NEM said it will roll out its blockchain NEM Symbol on January 14, 2021, which is expected to offer many data/asset management solutions. In the meantime, its price action exploded higher to test 30-month highs. 

The bullish momentum has continued to force the price action to trade above the short-term target at $0.23. The ongoing bull run means that XEM price recovered over half of total losses recorded during a major crash since April 2018. The key Fibonacci retracement line at 61.8% comes at $0.2950 and it will act as the next target for XEM buyers. Summary

NEM said it will roll out its blockchain NEM Symbol on January 14, 2021, which is expected to offer many data/asset management solutions. In the meantime, its price action exploded higher to test 30-month highs. 

NEM said it will roll out its blockchain NEM Symbol on January 14, 2021, which is expected to offer many data/asset management solutions. In the meantime, its price action exploded higher to test 30-month highs. 

With some minor price adjustments to the downside seen in Bitcoin over the last 48 hours, the alt market was once again painted in red.

However, the technical indicators for Bitcoin while showing little price recovery progress, maintained mixed signals on volatility and price action. While the short-term trend for Tron and Compound continued to remain bearish.

Bitcoin [BTC]

At press time Bitcoin was last traded at $13,433. BTC recorded a momentary loss of less than a percent over the last 48 hours, which also influenced the bearish activity seen on most of the altcoins charts today.

The Awesome oscillator after recording some selling pressure, started to display a trend reversal with green closing bars below the zero line, an indication of weakening selling pressure.

Further, the hint of convergence noted in the Bollinger Bands, suggested some reduction in the volatility levels for Bitcoin, meaning the short-term trend was likely to maintain within the $13,550 and $13,450 price range.

Tron [TRX]

Ranked 16th on messari.io with a market capitalization of almost $ 1.6 billion, Tron at press time was trading at $0.236

The digital asset has seen a price correction of nearly 10% over the last week, following the consistent sell-off period since the beginning of November.

The price fell below the $0.250 pivot level and thereafter another key resistance level at $0.0238, this short-term loss also coincided with a bearish crossover seen in MACD, signaling a bearish market momentum.

The placement of the dotted lines of the Parabolic SAR, above the candles, also indicated that the price could further go south, to retest the immediate support level at $0.023

Compound [COMP]

Unable to steer clear of the first major resistance level at $88.438, Compound dropped from a high of $97 over the last 24 hours recording almost 8% in losses. The last traded price at the time of writing was $84.868.

The Aroon Indicator painted a clear bearish picture, with the Aroon down (blue) above the Aroon Up (orange).

The Chaikin Money Flow indicator still underlined a slightly negative level of capital inflows and could be seen maintaining a neutral view along the zero level, in the upcoming trading sessions.

A retest at the immediate support level could signal further bearishness in the COMP market for the coming days.

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A graduate in Economics and International Development, Shubham enjoys researching on economic reform process, with a special focus on China.His interests lie in FinTech & blockchain technology developments across East and S.E Asia.

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May 11, 2018 at 17:00 UTCUpdated May 12, 2018 at 18:02 UTC

The cryptocurrency markets are set to end the second week of May on a low note.

The total market capitalization for all cryptocurrencies fell below $400 billion for the first time since April 26 on Friday, and has dropped 15.97 percent week-on-week. As of writing, the combined market value stands at $385 billion and could see a further decline as indicated by a head-and-shoulders breakdown pattern on the price charts.

Looking at notable individual cryptocurrencies, bitcoin (BTC) has depreciated by 12 percent week-on-week and has outperformed its closer rivals. For instance, ethereum (ETH) and EOS have dropped 15 percent each and Ripple (XRP) has declined by 34 percent.

Bitcoin’s dominance rate, which represents its percentage of the total market capitalization, moved above 38 percent for the first time since late April. This likely indicates that money is possibly being rotated back into bitcoin from alternative cryptocurrencies, so BTC’s relatively good performance this week is not surprising.

Names like NEM (XEM), stellar (XLM) and cardano (ADA) are ranked higher on the list of biggest losers among the top 25 cryptocurrencies by market capitalization.

The only gainers this week are two lesser-known cryptocurrencies: bytecoin (BCN) and zilliqa (ZIL).

Weekly performance: +32.70 percent All-time high: $0.0186 Closing price on May 4: $0.006733 Current market price: $0.010005 Rank as per market capitalization: 17

Bytecoin (BCN) picked up a bid on Tuesday and rose to a fresh record high of $0.01862, according to CoinMarketCap, seemingly due to cryptocurrency exchange Binance’s decision to list the cryptocurrency.

As of writing, BCN is changing hands at $0.010 – down 46 percent from record highs, but still reporting a 35 percent week-on-week rise.

The pullback from the record highs has neutralized the immediate bullish outlook. That said, the ascending (bullish) 5-day and 10-day moving averages (MAs) indicate the bulls are still in the game. Only a daily close (as per UTC) below $0.006 (May 8 low) would signal a bullish-to-bearish trend change.

Weekly performance: +13.84 percent All-time high: $0.2306 Closing price on May 4: $0.132311 Current market price: $0.153565 Rank as per market capitalization: 23

Zilliqa (ZIL) is the latest entrant in the list of cryptocurrencies with a market capitalization of more than $1 billion. The cryptocurrency clocked a record high of $0.2306 on May 10, according to CoinMarketCap. Its BTC-denominated exchange rate rose to a life-time high of $0.00002508 BTC yesterday and was last seen at 0.00001847 BTC on Binance.

Currently, the downside is being capped by the ascending (bullish) 5-day MA. The 10-day MA is also biased bullish.

However, the relative strength index (RSI) is turning lower from the overbought zone, so prices might find acceptance below the 10-day MA (currently seen in 0.000016) next week and signal bullish invalidation.

Weekly performance: -40.42 percent All-time high: $2.09 Closing price on May 4: $0.431269 Current market price: $0.307124 Rank as per market capitalization: 14

NEM (XEM) fell sharply this week and is currently trading below the 50-day MA located at $0.3241, according to Poloniex.

The news flow during the week has been somewhat positive, though. For instance, Abra, the global app that allows you to buy, store, and invest in 25 cryptocurrencies, has added XEM to its platform. Further, NEM’s appearance at CoinDesk’s Consensus blockchain conference in New York from May 14–16 is being touted as its biggest event and has generated investor interest.

However, all that has failed to put a bid under XEM prices. It appears as though the technical failure around the $0.45 mark seems to have enticed the bears.

The rounding top pattern, the 5-day and 10-day MA bearish crossover and a break below the 50-day MA, as seen in the chart above, suggest scope for a further drop towards to $0.22–$0.19. The RSI is also biased to the bears and is well above the oversold territory (above 30.00), backing up the likelihood of a drop in XEM prices.

Weekly performance: -40.22 percent All-time high: $0.9381 Closing price on May 4: $0.43114 Current market price: $0.374065 Rank as per market capitalization: 8

Stellar (XLM) has taken a beating this week, having created multiple doji candles signaling bull exhaustion in the daily chart last week. As of writing, XLM is looking weak, courtesy of a convincing break below the key support of $0.32 and the 5-day and 10-day MA crossover. The daily RSI is also trending south, indicating a bearish setup.

So, the cryptocurrency looks set to clear the 200-day MA support, currently seen at $0.29. A close below the long-term average would expose support lined up at $0.258 (Feb. 6 low). Only a daily close (as per UTC) above $0.32 (April 25 low) would abort the bearish view.

Weekly performance: -40.02 percent All-time high: $1.33 Closing price on May 4: $0.360182 Current market price: $0.257219 Rank as per market capitalization: 7

Cardano (ADA) is moving more mainstream via a new partnership with Metaps Plus, one of the largest payment platforms in South Korea.

However, so far the good news has not been able to put a floor under ADA prices. ADA/USD fell to $0.2475 today – the lowest level since April 18 – and could extend losses further, courtesy of the bearish setup as seen in the chart below.

ADA seems to have found acceptance below the 100-day MA and the bearish bias would strengthen further if it closes (as per UTC) below $0.255 (April 25 low). The RSI is trending south and still well short of the oversold territory (hold above 30.00).

So, there is room for a further drop towards $0.18 (March 9 low). Only a daily close above the 10-day MA (seen today at $0.332) would abort the bearish view.

Balloons image via ped-this-week-these-two-bucked-the-trend

above $20,000 must wait, for now. Earlier in the week, BTC price saw a major $3,000 correction which turned it away from reaching a new all-time high and it took the entire crypto market down with it.

Data analysis suggests that the bitcoin whales decided to take profits when the flagship crypto surged towards $19,500. The market action pulled the bitcoin price lower which might have resulted in the liquidation of the over-leveraged positions in the futures market. These liquidations might also be responsible for further market declines.

The current correction is a good sign for the market since the crypto space was becoming quite overheated as many altcoins rallied massively in the past week. While some of the altcoins have given back much of their gains, bitcoin is still strong. That means the investors and traders are buying into supports at lower levels.

, Galaxy Digital founder, and CEO said that BTC is attracting institutional investors since it is considered to be a hedge against the debasement of fiat currency. Mike also said that investors keep almost 3% of their net worth in Bitcoin with a long-term objective. He thinks that bitcoin will be worth a lot more in the next five years.

Nevertheless, investors are advised to wait for the price of the flagship crypto to stabilize and form a base before buying since trying to catch a dropping knife is dangerous. If the prices hold steady near the critical support levels, traders can consider buying the crypto.

The price of is hovering around $0.644 and the third-biggest crypto has a market cap of $27.2 billion. In the last 24 hours, the coin has gained over 17% which makes the coin to be among the leaders trying to pull the crypto market back up from the recent market crash.

XRP hit its daily high of $0.64 before slightly dipping to $0.59 before recovering to trade at the current levels. The price has increased by over 65% from the past week’s $0.36 which makes it the third best-performing crypto of the week after Horizen and Stellar. In the other week, XRP gained the most among all of the major cryptos.

On November 23, XRP surpassed $0.50 for the first time since 2018 and since then it has experienced many ups and downs. After surpassing $0.90 on November 24, XRP’s price lost around 20% the next day. The downward trend continued on November 26 and it dropped below $0.50 at 16:44 UTC before it regained strength soon after, rising above $0.50 at around 20:14 UTC.

Bitcoin has increased by around 3% in the last 24 hours and it has lost around 6.89% in the past seven days as it hovers around $17, 400. The general crypto market has slightly recovered from the crash in the week gaining 4.1% in the past 24 hours. Thus, the general market cap has reached $522 billion.

formed a dark cloud cover candlestick on November 25 which indicated a bearish reversal. That price action was followed by further selling from the strong bears and it covered long positions by the trapped bulls.

The ADA/USD pair dropped on November 26 and it dipped below the 20-day EMA ($0.126). However, the long tail on the candlestick indicated that there would be buying at lower levels. The buyers are trying to sustain a bullish momentum while the bears are taking on any opportunity to sell even on minor rallies.

The price of ADA is hovering around $0.1673 and the fifth-biggest crypto has a market cap of $5.179 billion. In the last 24 hours, the coin has gained over 23% which makes the coin to be among the leaders trying to pull the crypto market back up from the recent market crash.

On November 25, (XLM) formed a Doji candlestick pattern. This pattern had a long wick which suggested that aggressive selling by the bears at higher levels would occur. The bears continued to dominate the market on November 26 and the altcoin plummeted to $0.145377, just above the 61.8% Fibonacci retracement level of $0.140209.

The bulls managed to buy the dip on November 26 and are currently trying to retain an uptrend. But, the higher levels in the market might usher in selling pressure once more. After the significant trending moves of the past days, volatility might reduce in the future which would make the XLM/USD pair to consolidate in a range for several days.

If the bulls propel the price above $0.231655 or the bears manage to sink the price below the 20-day EMA ($0.122), that view will get invalidated.

The price of XLM is hovering around $0.21073 and the ninth-biggest crypto has a market cap of $4.638 billion. In the last 24 hours, the coin has gained over 11% which makes the coin to be among the leaders trying to pull the crypto market back up from the recent market crash.

Photo by Evgeni Tcherkasski on Unsplash The Bitcoin hash rate dove strongly in late October. The metric, which tracks how much computational power is being used to mine BTC, fell from approximately 170 exahashes to a low near 90 exahashes per second. Bitcoin transactions subsequently became slow as block times naturally increased. Worrying some investors, the “Hash Ribbons,” a custom indicator that tracks movements in the hash rate, had printed a “capitulation” signal for the first time since the halving. Seeing that Bitcoin had just surged toward $15,000, a signal that often appears in bear markets or after halvings had no right showing up once again. But according to the creator of the indicator, Charles Edwards, there is little to be worried about. According to Edwards, the Hash Ribbons are about to print a “buy” signal in the coming weeks. The Bitcoin hash rate has bounced 60-70 percent from the local lows, recovering as Chinese miners finish accounting for the end of the wet season, and thus the end of extremely cheap hydroelectricity. The Hash Ribbons printing a “buy” would mark a win for bulls, according to historical backtesting of the indicator. For instance, the indicator last printed a “buy” in summer, prior to the rally from the $8,000s to the $16,000 highs where Bitcoin is today. His analysis has also indicated that the indicator has printed a “buy” at the bottom of all macro bear markets, like the $3,100 lows in 2018, along with similar bottoms in previous market cycles. Should history rhyme, the Hash Ribbons printing a “buy” should precede a Bitcoin rally to new all-time highs and beyond. As reported by CryptoSlate previously, on-chain data and market data shows that “institutional” players are increasingly bidding Bitcoin while investors that already own BTC have become increasingly hesitant to sell. Analyst “Light” commented on this “sell-side liquidity crisis”: Catalyzing renewed demand for Bitcoin are institutional investors, which are increasingly buying and promoting the leading cryptocurrency. On Monday, one of the world’s foremost asset managers, Stanley Druckenmiller, revealed that he is long on Bitcoin: Druckenmiller is widely regarded as one of the world’s best asset managers, having worked for billionaire George Soros and having made billions for himself and his clients running his own fund. His fund famously made an average of 30 percent per year for an extended period of time. Analysts say that his entrance into the space will catalyze other institutional players, along with retail investors that respect him, to buy Bitcoin. 12 Nov at 10:01 pm UTC 2.89%Bitcoin, currently ranked #1 by market cap, is up 2.89% over the past 24 hours. BTC has a market cap of $299.21B with a 24 hour volume of $32.65B. BTCUSD Chart by TradingView Posted In: Bitcoin, Analysis, Price Watch Sign up Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article. Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

Bitcoin’s failure to scale the $10,000 mark and the following 19 percent slump did not bode well for the cryptocurrency markets last month.

The total market capitalization of all cryptocurrencies fell to $304 billion on May 29 – the lowest level since April 13 and a drop of 26 percent for the month, according to CoinMarketCap data.

Meanwhile, the bitcoin dominance rate, an indicator that tracks the percent of the total cryptocurrency market cap contributed by bitcoin, rose from 35.86 percent (May 6 low) to 40 percent, signaling a possible rotation of money out of alternative cryptocurrencies and into bitcoin.

The argument has merit, as BTC ranked 18th on the list of losers among top 25 cryptocurrencies by market capitalization, meaning it outperformed most of the big names.

For instance, XRP and bitcoin cash both (BCH) dropped 26 percent during May. EOS depreciated by 30 percent and litecoin (LTC) shed 20 percent. Among the major cryptocurrencies, only ethereum (ETH) managed to outperform bitcoin with a 13.8 percent drop.

It wasn’t all bad news, though – a cryptocurrency called bytecoin (BCN) refused to follow the downtrend and clocked a 24 percent monthly gain to become the best top-25 performer in May.

Monthly performance: +24 percent All-time high: $0.0186 Closing price on May 31: $0.006838 Current market price: $0.006665 Rank as per market capitalization: 19

Bytecoin surged to a record high of $0.01862 in early May as Binance’s decision to list the cryptocurrency revved up investor excitement. However, the bullish momentum weakened in the second half of the month, likely due to profit taking and broader market sell-off.

Prices fell below the key ascending trendline on May 17, as seen in the chart above, and then dropped to the 200-day moving average support of $0.0051 on May 29.

A bullish outside-day candle neutralized the immediate bearish outlook. However, the lack of positive follow-through is disheartening for the bulls.

Only a strong move above $0.0075 would confirm a bullish reversal. On the downside, acceptance below the 200-day MA would signal a revival of the sell-off from the record high of $0.0186.

Monthly performance: -41.2 percent All-time high: $106.88 Closing price on May 31: $13.35 Current market price: $13.74 Rank as per market capitalization: 20

QTUM, the native token of Qtum blockchain, took a beating in May, having repeatedly failed to scale the all-important 200-day moving average (MA) in April, Bittrex data shows. There had been plenty optimism in the air at the beginning of the month as Qtum, a lesser-known ethereum rival, launched the first decentralized application (dApp) – Bodhi (BOT) – on its mainnet.

However, the good news failed to keep prices bid – not surprising, perhaps, considering the broader market sell-off and the technical failure at the key long-term moving average seen below.

However, the recovery from the recent low of $11.91 has put the brakes on the sell-off. Further, the daily relative strength index (RSI) has crossed the falling tendline, signaling scope for a corrective rally. Hence, a move above the immediate resistance of $14.37 (May 12 low) could yield a quick rally to 50-day MA located at $17.76.

Monthly performance: -40 percent All-time high: $2.09 Closing price on May 31: $0.245114 Current market price: $0.252008 Rank as per market capitalization: 15

NEM (XEM) was in the news for all the good reasons in May.

Tech Bureau released an update for the NEM protocol for public and private networks, codenamed Catapult, which will enable digital asset creation, decentralized swaps, advanced account systems and business logic modeling.

Meanwhile, Abra, the global app that allows users to invest in 25 cryptocurrencies, added XEM to its platform.

However, the repeated failure on the part of the bulls to cross the $0.45 mark in late April seems to have proved costly for the cryptocurrency. Prices hit a 6.5-week low of $0.2235 on May 29, according to Poloniex data.

XEM has created a head-and-shoulders-like bearish reversal pattern. A break below $0.22 (neckline support) would allow a deeper drop to $0.07 (long-term rising trendline support). On the higher side, only a move above $0.457 (April high) would signal a bearish-to-bullish trend change.

Monthly performance: -37.9 percent All-time high: $28.35 Closing price on May 31: $10.55 Current market price: $10.52 Rank as per market capitalization: 21

OmiseGO (OMG) crossed a key falling trendline in April, raising the odds of a rally to record highs in May. However, the bullish move ran out of steam around the $20 mark in early May and prices fell to a 6.5-week low of $9.50 on May 29, according to Bitfinex.

The fall back below the descending trendline may have weakened the bulls. So, prices could drop to the head-and-shoulders neckline support of $8.48 in the near-term. Acceptance below that level would mean a long-term bullish-to-bearish trend change.

Paper ships image via tecoin-only-gainer-in-bad-month-for-big-cryptos

Over 70% of cryptocurrencies are in negative, but this should not be misleading because the main cryptocurrencies, including Bitcoin and Ethereum, fluctuate around the recently established highs. 

Bitcoin has been trading above $19,000 for over three days now, a level where it has closed the week for the first time in its history. 

Even Ethereum, even if a little far from the all-time highs and below the $600 threshold, remains above the $580 threshold.

Scrolling through the list, the first green sign is that of Filecoin (FIL), 21st position, which rises by 2.8%.

Same performance as VeChain (VET), which comes back after a period of absence. The rise of these hours brings the prices back above $0.018, a peak that had not been recorded since the end of August.

In addition to Filecoin and VeChain, among the best of the day, there’s also Theta. The best of the day is Compound (COMP), the governance token of the DeFi protocol is back to one step from $170, which had not been recorded since mid-September.

On the opposite side, the worst is Nem (XEM), the only one to experience a double-digit decline of 13%. 

After the strong increases that have characterized it in the last month and that have made it triple in value, increases due to the recent airdrops and the collaborations that the project developed, it has been falling for more than 48 hours from the maximum of 27 cents, going down to 21 cents, the first level of short term that is valid as technical support. 

Litecoin (LTC), after having gained the 5th position in the ranking confirms the recovery of the 5th position and on a weekly basis, unlike yesterday, it slightly drops back by 2%.

Monero (XMR) also reached the top over 144 dollars, the highest level Monero had not recorded since July 2018. 

Monero and XEM (worst of the day after the rises in recent weeks that have tripled its value) are the only two among the top 25 to earn 5% and 10% respectively from last Tuesday’s levels, the only ones that are confirming recent gains.

The market cap remains above $565 billion, decent levels from last week’s highs of $590 billion on December 1st. These are the highest levels, the current ones, which had not been recorded since January 2018. 

Consolidation levels that are confirmed by volumes rising slightly from the lows set over the weekend, and which remain at around $150 billion.

Yesterday’s day, in contrast to the upward trend, saw Ethereum trading a total volume on the 24 hours below the equivalent of 1 billion dollars. 

Bitcoin’s market cap remains above the 355 billion which are the highest levels, 10 billion less than the tops of December 1st. This indicates that it is Bitcoin that continues to support the markets.

Bitcoin’s dominance has regained the 63% threshold. After the downturn, Ethereum still maintains its 12% share. Ripple, despite the fatigue and the descent from the tops on November 24th with a 20% loss from those values, maintains a market share just below 5%, after the 5.4% top recorded on November 25th, a peak not recorded since early December 2019.

DeFi updates the TVL by a few million dollars, taking it from 15 billion to 14.9 billion. Absolute historical highs. 

Maker consolidates the first position among decentralized finance protocols with over 2.7 billion, followed by WBTC and Compound. Aave ranks 4th with 1.4 billion. 

Aave is among the tokens above parity on a weekly basis, with a gain of over 12%, rising to 26th position, just behind the DAI collateralized stablecoin, in turn linked to Maker.

The technical analysis remains unchanged from the last few days, Bitcoin floats on period highs above $19,000, a sign that if confirmed in the medium term indicates a strengthening of the trend, stabilized upwards. 

For two months now, every downward movement for Bitcoin, like the one recorded in November, has taken place in a bullish context. If this was confirmed in the next few days, it would indicate a sign of strength. 

In the short term, it is necessary for Bitcoin to hold the $18,500 threshold.

Ethereum, after hitting its May 2018 highs on December 1st, is looking for the basis where to find new bullish stimuli. It is important to keep the price above $560, the lows tested over the last weekend.

For ETH there is ample room for manoeuvre, even downwards, which in the medium term could sustain the decline now supported by previous lows in mid-March, more than 30% away. 

Even a double-digit bearish movement would not pose any concern due to the rises in recent months. 

A return above $600 would give new confidence. A confidence which, especially for Bitcoin, remains at an all-time high.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

Following Bitcoin’s lead on the charts, altcoins like Stellar Lumens registered significant gains over the past 48-72 hours. At the time of writing, XLM stood out in the top-10 of the cryptocurrency market, simply because it registered a whopping 188 percent hike in the past 7 days. However, while this surge has taken XLM back to its 2018 valuation, for how long will the coin sustain this level?

At press time, XLM was being traded at $0.359 with a market cap of $8.1 billion. The coin also noted a 24-hour trading volume of $10.7 billion.

Stellar Lumens 4-hour chart 

A look at XLM’s 4-hour chart highlighted the significant uptrend the crypto has been on since the 4th of January. Over the said period, XLM’s value rose from around $0.163 to its press time value. Interestingly, while the cryptocurrency did rise on the charts, it was met by stiff resistance at the $0.399-price range. In the coming days, if the price does breach this level, then XLM’s uptrend will continue with no significant resistance in sight.

However, going by past precedents, one cannot rule out the possibility that in the next few days the coin may have to endure yet another price correction on the charts. This is likely to bring it closer to its immediate support at $0.266. There was also another strong support at $0.171 if the coin were to go on a downward spiral.

Reasoning

Taking a look at the coin’s technical indicators, one can argue that a correction may be in the works. While the MACD indicator underwent a bullish crossover, there seemed to be no sign of a reversal. However, the RSI indicator was heading south out of the overbought zone and this may end with the price having to undergo a minor correction in the coming days.

Important levels

Resistance: $0.399 Support: $0.268, $0.171 Entry: $0.352 Take Profit: $0.281 Stop Loss: $0.393 Risk/Reward: 1.76

Conclusion

Stellar Lumens‘ price has had a splendid run over the past week and the coin has accordingly surged on the charts. On the other hand, if XLM is able to sustain its uptrend in the coming days and bullish sentiment prevails, it is likely to flip its resistance to support. However, if the trend sees a reversal, then XLM may head towards its immediate support in the near term.

Binance whales are Net Short on XRP after alt rises by >33%

BTCST debuts as Bitcoin’s leveraged token on Binance Launchpool

Jude Gerald Lopez is a full time News Editor at AMBCrypto covering the US and Indian market. He is a post-graduate in English literature with around 4 years of teaching experience in Indian literature.

Stellar Lumens Price Analysis: 01 January

The bitcoin price, which touched $12,000 per bitcoin earlier this week, dropped to just under $10,000 before rebounding to around $10,500, mirroring the ups and downs of the U.S. stock market.

Novogratz, the founder and chief executive of crypto merchant bank Galaxy Digital, named electric car-maker Tesla TSLA , which has led the stock market higher in recent weeks, as a cause for concern and branded Tesla's soaring stock price "a bubble."

Many tokens tied to DeFi platforms crashed over the last couple of days, with the flavor-of-the-week, Sushiswap, losing more than half its value.

"High-flying DeFi coins took the biggest hit during yesterday’s sell-off with many being down 20% or more versus bitcoin over the 24-hour period," Tim Plakas of Galaxy Digital Trading said via email.

"It was almost a mirror image of what we witnessed in the equity markets yesterday, with many popular tech names getting hit hard as sentiment shifted."

Despite what he calls a "speculative frenzy" emerging over recent months, Novogratz is still bullish on bitcoin in the long-term.

"I'm positive that in ten years, the ecosystem around bitcoin and cryptocurrencies, the whole space, is going to be multiple times bigger than it is today," said Novogratz, who describes the emerging crypto space as "a sandbox" that should be put in the "broad venture capital bucket."

"Cryptocurrency is here for good," he added. "I couldn’t say that in 2017, or 2018, but that sentence comes with an exclamation point starting this year."

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com.Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

Bitcoin has shattered the $17,200 mark for the first time in nearly three years. The leading cryptocurrency is up 5.18% in the last 24 hours at $17,253, according to CoinMarketCap. The last time BTC was at this price was in January of 2018. ADVERTISEMENT At these levels, 98.94% of all Bitcoin addresses in existence have turned a profit, according to the blockchain intelligence company IntoTheBlock. Crypto analyst Nicholas Merten says he thinks BTC will need a correction before it can reach previous all-time highs at $20,000. “I want to be rational with you all. We’ve been having phenomenal price action in the market. There’s something very important to keep in mind here that I think is critical in understanding where we’re at right now. We’ve really had three mini cycles as we’ve been recovering from the March lows of 2020. And we can see that both times previously they ranged around 30 days… We’re coming up here on 32 days, so about the same time preference around the first mini-cycle here. It’s looking like we might be getting a bit of a cooldown here. I want to keep things as conservative as possible. Many people are holding here. But my key point here is, as we’ve already gone up 52%, maybe 53%, I’m really thinking we may get a bit of a cooldown here, not testing all the way up to $20,000 just yet.” ADVERTISEMENT Merten says he thinks BTC is gearing up to reach a new all-time high in the first quarter of next year. “This is it guys. We’re getting to the moment here where over the next few weeks, over the next few months, we’ve had a quarterly target of Q1 of 2021 that we’re going to be revisiting back to these all-time highs… The room’s a bit more quiet than it was last time when we were at this price range. I remember vehemently back here in December of 2017 almost three years ago. It’s crazy to think it’s been almost three years when we were back at this price range.” Follow Us on Twitter Facebook Telegram Check out the Latest Industry Announcements   ADVERTISEMENT Featured Image: Shutterstock/Mykola Tys

Bloomberg cryptocurrency analyst Mike McGlone says bitcoin is greatly undervalued, suggesting that its fair value price should currently be somewhere around $15,000. The price of bitcoin (BTC) has see-sawed between $10,000 and $12,400 over the last few weeks, often tumbling sharply following what one pundit described as “fake” breakouts. The latest rout saw BTC crash more than 8% within days from over $11,000 to $10,100. At Press time, each bitcoin is trading for $10,695, up nearly 2% in the last 24 hours. McGlone, a senior commodity strategist at Bloomberg, based his arguments on various factors, including bitcoin’s rising hashrate, which continues to hit new records, industry media report. According to the latest data from charts.Bitcoin.com, BTC’s seven-day average hashrate rose past 140 exahash per second (EH/s) this week, an all time high. On July 28, the figure averaged 127 EH/s, a record at the time. Hashrate is a measure of the power of the computers linked to the Bitcoin blockchain, which determines their ability to produce new coins. Increasing hash power suggests miners are optimistic about making profits. This tends to influence the price of BTC higher, given the strong correlation between the two. But the relationship is not exactly as linear, because it is difficult to gauge future price changes based on hashrate alone. Meanwhile, the number of active bitcoin addresses has soared to 991,000, Glassnode data shows, up from 684,000 at the beginning of this year, when the asset’s price averaged around $7,700. When active addresses hit nearly 1.1 million on December 23, 2018, bitcoin traded for $14,800, on the average. McGlone has remained upbeat about bitcoin throughout its volatile swings, at a point suggesting this is to be the year that the top crypto will become a digital version of gold, a prime store of value. In his new analysis, he admits there might be pitfalls curtailing BTC’s price growth going forward – and that would have to be a reversal of the on-chain metrics related to “the hashrate and active addresses.” What do you think about Mike McGlone’s predictions? Let us know in the comments section below. MARKETS AND PRICES | 2 days ago MARKETS AND PRICES | 3 days ago Bitcoin hashrate, Bitcoin undervalued, Bloomberg, BTC active addresses, digital gold, glassnode, gold, Mike McGlone Image Credits: Shutterstock, Pixabay, Wiki Commons Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

<p style="text-align: justify;">November 24th, 2020 will go down as a memorable day in history for Bitcoin and Alternative cryptocurrencies, Altcoins. Bulls were on the rampage in every corner of the market, while Altcoins rallied by triple digits to new 2020 highs. Bitcoin was only one day higher in history on this day. Ripple (XRP) and Stellar (XLM) led the new “Alt Season” with weekly upside gains of more than 100%. On Nov.24, The demand increased to a point where it caused Coinbase to temporarily shut down, which coincided with a drop in BTC and ETH prices. On the Bitcoin and Altcoins rallies, trader Scott Melker stated:

<p style="text-align: justify;">He further added “Our week of alt euphoria was amazing. Now we wait and see.” Bitcoin and Ethereum usually stole the limelight following impressive price actions, data from social analytics data provider TheTIE shows smaller-cap Altcoins are also making some serious waves. It noted that tweet volumes for selected Altcoins spiked and many Altcoins realized gains in their BTC, USD, and Top trending crypto assets on Twitter (24hrs). Courtesy: TheTIEThe Journey Never Ends, Only the Baton Changes!<p style="text-align: justify;">After an impressive rally from Bitcoin, the flagship asset may consolidate briefly or even retest lower supports. Historically, in these situations, funds flow into Altcoins and cause them to rally higher. If Bitcoin price does consolidate in the coming days, this trend may play out amongst investors, thus extending the present rally seen among Altcoins. Before BTC surged past $19,000, a trader with the moniker “Salsa Tekila” stated that when Altcoins cool down, profits would likely cycle back into BTC. He said:

<p style="text-align: justify;">There is a strong possibility that the trend of profits from Altcoins cycling into Bitcoin will continue in the near term. If this happens, the Altcoin market would likely stagnate while BTC shows strong momentum.

<p style="text-align: justify;">

BTC/USD Daily Chart<p style="text-align: justify;">CNBC Fast Money trader Brian Kelly noted that the Altcoins rally was reminiscent of the January 2018 Altcoin mania, when BTC started to pull back and Altcoins rallied, then the in tandem in the months that followed. Based on this he is seeing a top at $19,000. This he said:

<p style="text-align: justify;">On Bitcoin hitting $20k high, Matt Blom, the head of global sales trading at Equos exchange said this:

<p style="text-align: justify;">CryptoQuant CEO Ki-Young Ju said that while some pullbacks may happen, $20,000 would likely be surpassed. He said:

<p style="text-align: justify;">Image Credit: TheTIE, Shutterstock

<p style="text-align: justify;">After an impressive rally from Bitcoin, the flagship asset may consolidate briefly or even retest lower supports. Historically, in these situations, funds flow into Altcoins and cause them to rally higher. If Bitcoin price does consolidate in the coming days, this trend may play out amongst investors, thus extending the present rally seen among Altcoins. Before BTC surged past $19,000, a trader with the moniker “Salsa Tekila” stated that when Altcoins cool down, profits would likely cycle back into BTC. He said:

<p style="text-align: justify;">There is a strong possibility that the trend of profits from Altcoins cycling into Bitcoin will continue in the near term. If this happens, the Altcoin market would likely stagnate while BTC shows strong momentum.

<p style="text-align: justify;">

<p style="text-align: justify;">CNBC Fast Money trader Brian Kelly noted that the Altcoins rally was reminiscent of the January 2018 Altcoin mania, when BTC started to pull back and Altcoins rallied, then the in tandem in the months that followed. Based on this he is seeing a top at $19,000. This he said:

<p style="text-align: justify;">On Bitcoin hitting $20k high, Matt Blom, the head of global sales trading at Equos exchange said this:

<p style="text-align: justify;">CryptoQuant CEO Ki-Young Ju said that while some pullbacks may happen, $20,000 would likely be surpassed. He said:

<p style="text-align: justify;">Image Credit: TheTIE, Shutterstock