Connect with us

#Bitcoin

Bitcoin starts to crash again, move from yesterday proved as a Dead Cat Bounce

Published

on

Bitcoin and all major cryptocurrencies have started to crash yet again after a small relief from yesterday's 10% rise across the board

Bitcoin and all major cryptocurrencies have started to crash yet again after a small relief from yesterday’s 10% rise across the board which has now proven to be a dead cat bounce. The market cap has dropped by $15 Billion to $123 Billion, with BTC trading at $3837 against the US dollar as reported by CoinGecko at press time.


The downside break was led by Bitcoin and followed by all other cryptocurrencies like ETH, LTC, and ADA. Ethereum was trading at around $122 and has crashed to $109 level.


The Bitcoin dominance is also down to 54% from 55.6% earlier today. Investors and traders are trying to stay safe from the market crash which is in continuation from last week’s continuing decline across the board.

 

Buying the Dip?

Many of the mainstream media are apparently suggesting to “buy the dip” or taking advantage of “low bitcoin prices” but it is worthy to mention that “buying the dip” works well in a bull environment. In the current market conditions where a bear trend is apparent, it might not be a good idea to buy the dip and take long positions.

 

This article is not a financial advise in any manner and is only the viewpoints of the author. You should do your own due diligence before taking any position in such risky market conditions.

#Bitcoin

Bitmain IPO: Not a reality anymore

Published

on

The Initial Public Offering application of Bitmain is set to expire today i.e. 26th March 2019, which explains that the company is no longer going public.

The Initial Public Offering application of Bitmain is set to expire today i.e. 26th March 2019, which explains that the company is no longer going public. However, this does not mean that the company might never go public as they claim that they will work on the application of Initial Public Offering at the right time.

 

Bitmain IPO: Not happening anymore

The rumors were all around the cryptocurrency space that Bitmain is going to go public by holding an initial public offering on the Hong Kong stock exchange soon. But it seems that the dreams have just been broken as the mining giant is no longer holding an IPO as reported by the South China Morning Post. The large monetary losses that the company has been facing and the firing of employees might be the reason for making a U-turn.

 

IPO Plans:

The initial public offering was announced by Bitmain last year. Jihan Wu, one of the youngest billionaires in the world and the CEO of Bitmain had earlier stated that they were open to list on the Hong Kong Stock Exchange or an overseas exchange. Soon after this, Bitmain has acquired 16-floor official premises in the Silicon Valley from where the rumors started to spread that the company is going to launch an Initial Public Offering in the United States. During this period, Bitmain was leading the bitcoin mining industry by controlling more than 80% of the market. It was being predicted that the value of the company would rise to $40 billion after the Initial Public Offering is held.

 

The rumors started to cool down as reports were out stating that the company was facing financial losses due to the falling prices and the market capitalization of cryptocurrencies. In just Q3 last year, Bitmain had lost over $500 million which is a piece of terrible news for a brand that is going to launch an Initial Public Offering soon. It got worse for the company when the head Jihan Wu left the company for starting his own project.

Continue Reading

#Bitcoin

Bitcoin will surely reach $10,000 this year: CEO of Bitmex

Published

on

Arthur Hayes, the CEO of Bitmex announced his bitcoin prediction for the year and according to him, BTC will surely test the $10,000 range by this year-end.

Cryptocurrency bulls have already started to make their bitcoin price predictions for the year as they now believe that bitcoin has already bottomed to the lowest level for the year.

Recently, the CEO of Bitmex, the most famous cryptocurrency margin trading platform, Arthur Hayes announced his bitcoin prediction for the year and according to him, BTC will surely test the $10,000 range by this year-end.

 

Bitcoin to $10,000?

Arthur Hayes’s bitcoin prediction was published in the Bitmex newsletter which said that bitcoin will correct upwards slowly and reach up to $10,000 by the end of 2019. He said that the current year’s chop shall be severe however, the bitcoin market will reach $10,000. He also mentioned that the real recovery price is $20,000.

 

According to his analysis, the first few months of the year have experienced low trade volumes as a lot of volatility in price, however, bitcoin did not the 2018’s lows of $3200.

 

Arthur also mentioned that the cryptocurrency market will not climb back really quick as a lot of investors have lost a lot of their money and thus they will not re-enter the markets that quick.

 

Bitmex CEO also mentioned that the cryptocurrency investors are still investing in ‘shitcoins’ such as TRON, Ripple and Binance coin.

 

What Arthur really trusts is that the majority of people will start investing large amounts of money into bitcoin and other cryptocurrencies by the end of the year i.e. Q4 of 2019.

Continue Reading

#Bitcoin

Cryptocurrency Price Analysis: Great Week for the top 10

Published

on

The current week has proved to be quite amazing for the cryptocurrency market as all major coins are holding green. The total cryptocurrency market rose by around $1.5 billion yesterday night with the price of bitcoin reaching $4100.

 

Bitcoin:

BTCUSD Price Chart

BTC/USD Weekly Price Chart

Bitcoin broke the $4000 resistance level on 17th March and has been over this range since then. Bitcoin has turned the previous resistance into strong support now and has moved upwards slowly currently trading around $4120 (according to Bitfinex chart) with around 1% increase in the last 24 hours. If bitcoin is able to maintain its position above $4100 range for long, it might soon move ahead towards the major long term resistances such as $4500 and $4600.

 

Altcoins:

ETHUSD Weekly Chart

ETH/USD Weekly Chart

Ethereum also saw a nice bullish momentum this week after reaching the highest point of $143. Currently, Ethereum is trading nicely around $140 and is experiencing a few dips while trying to move upwards.

Unlike other top 10 coins, Ripple market is experiencing volatility from the last week but the momentum is still quite bullish.

LTCUSD Weekly Chart

LTCUSD Weekly Chart

Litecoin has been following trends and is steadily trading around $60 from the start of the week. Litecoin has increased more than 1.67% in the last 24 hours which makes it the best performing crypto of the day (in comparison with the top 10 cryptos according to market capitalization). LTC is currently trading around $61 (according to Bitfinex chart).

 

The overall cryptocurrency market is in a bullish momentum with sings of further gains. After a long bearish trend, cryptocurrency analysts are now believing that the bull market might be coming soon.

Continue Reading

Keep up with Bitcoin & Blockchain Technology Trends

Simply enter your email address in the box below and sign up for emails from Coinnounce regarding trending cryptocurrency, bitcoin & blockchain topics and offers.

This information will never be shared with third parties.