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Bitcoin Whale Alert: 20157 BTC transferred to Bitfinex

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In the last 24 hours, more than 20,000 Bitcoin was transferred to Bitfinex Exchange from different wallets in large transactions. The details are as follows

Bitcoin price seems to be stable above $3300 from the past couple of days amidst the crypto winters. The momentum is however quite bearish as a major bear attack is being predicted if bitcoin breaks the key support at $3000. The price will likely fall towards $2500 range and then to $2000 if the current support is broken. Also, the resistance around $3500 to $3600 is proving to be quite strong to let the price move above this range. The selling pressure is too much for the bulls to take action. In the midst of the bear market, large bitcoin whales are waiting for the right time to sell their holdings in order to avoid further losses and gain profits when the price slides down.
In the last 24 hours, more than 20,000 Bitcoin was transferred to Bitfinex Exchange from different wallets in large transactions. The details of the transactions are as follows:

Transaction 1: 1772 BTC

https://www.blockchain.com/btc/tx/861ae14208b9ab0722211f49e1b2d9b4ec3e400db803f8195dd726f5982515b7

 

Transaction 2: 1846 BTC

https://www.blockchain.com/btc/tx/60196f0357f1736c4e088dd4e4a90685e163a30e6d9fad390555b86207d5d108

 

Transaction 3: 1964 BTC

https://www.blockchain.com/btc/tx/e44697c3873cafcf13b41758f46e12e8e45ab1eaff20efb37b68ec9ae8f9fce4

 

Transaction 4: 1875 BTC

https://www.blockchain.com/btc/tx/b0b31c71f2d2b721ac3dbc39787bdd355eb2628fd3a64f5cd785531434fb6f63

 

Transaction 5: 1899 BTC

https://www.blockchain.com/btc/tx/7f39f7bbd46f499083f73857f42ab33ca0c41e8e584f01c12964cccde20b1b84

 

Transaction 6: 1952 BTC

https://www.blockchain.com/btc/tx/1c0f469324a6dbfcff85739aa755d75bebf3abd8b680299d98a6793135fb862d

 

Transaction 7: 1954 BTC

https://www.blockchain.com/btc/tx/433bad4bcbabf7831f50ef6d9e6a54637656119031d9a1fe783f563207d6834d

 

Transaction 8: 1757 BTC

https://www.blockchain.com/btc/tx/3a6f656cbe08c7f0b2f2caa605f213cadd4a0d296b5afc428ffb233717bb7775

 

Transaction 9: 1726 BTC

https://www.blockchain.com/btc/tx/900043dc880fa94cf30639a8e3075f388e9c670e07b3a36933b0880cb0b4633a

 

Transaction 10:  1722 BTC

https://www.blockchain.com/btc/tx/82730a6e76919a331812ffd908ec0600d44ef8014bd4e3774d80f9afc7c65cb2

 

Transaction 11:  1692 BTC

https://www.blockchain.com/btc/tx/4fb4b1b5302330f1f57a7f20e88db0024da5f38dcde7be4f1760917c861afcca

 

The cryptocurrency market is still under the control of bears and the downward slide is still continuing. The total market capitalization struggling to maintain its position above $110 billion. Analysts are predicting the bear market to go on for months which could prove to be hazardous for the price of bitcoin. Bitcoin may even fall below the $2000 range as predicted by some analyst. However, if you are a trader or an investor, you should do you own research and analysis before investing or trading in any digital assets such as bitcoin.

The following article is not a financial advice. You are advised to do proper research before making any investment decisions in the cryptocurrency market.

#Bitcoin

Bitmain IPO: Not a reality anymore

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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.

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

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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.

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#Bitcoin

Cryptocurrency Price Analysis: Great Week for the top 10

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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.

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