Tron [TRX] Price Analysis: Coin struggles as bear continue to control the market

Tron’s TRX token, the eighth largest cryptocurrency in terms of market cap on CoinMarketCap has been performing sideways for the past few days, after pumping and settling on the eighth position from the tenth position. Tron Foundation’s regular updates about the coin’s better performance has contributed to the market sentiment being positive.
At press time, the token was valued at $0.0238 with a market cap of $1.59 billion. The coin registered a 24-hour trading volume of $117 million while registering a fall by 1.60% over the past hour. The coin has in fact, been falling since the past week by 12.04%.
1-hour
Source: Tradingview
The one hour chart for TRX noted a downtrend from $0.0267 to $0.0243. However, the coin failed to mark a significant uptrend. The coin traced its resistance at $0.0243 while support was observed at $0.0236.
Bollinger Bands appear to be converging, suggesting decreasing market volatility. The moving average line is under the candle pointing towards a bearish market.
Awesome Oscillator indicates weakened bullish momentum.
Chaikin Money Flow points towards a bearish trend as the marker is under the zero line, suggesting that money is flowing out of the market.
1-day
Source: Tradingview
The one day chart for TRX points towards a downtrend from $0.0183 to $0.0119, followed by an uptrend from $0.0132 to $0.0236. The coin traced its resistance at $0.0294 while noting support at two points. TRX is provided strong support at $0.0236 and at $0.0215.
Parabolic SAR points towards a bearish market as the markers have aligned themselves above the candles.
MACD line is under the signal line, indicating a bearish trend
Relative Strength Index indicates that the buying and the selling pressures are evening each other out.
Conclusion
As per the majority of the indicators, Chaikin Money Flow, Parabolic SAR, and MACD all forecast a bearish trend for the eighth largest coin and the token will have to prepare for competition from other coins for its position.
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Source: AMB Crypto

Ripple: Al Ahli Bank of Kuwait partners with Ripple to enable fast and effective transactions

Al Ahli Bank of Kuwait [ABK] announced its partnership with Ripple on Thursday in order to enable instant cross-border payments for its customers in and out of Kuwait, reported Arabian Business. As they announced this partnership, ABK claimed to be one of the few financial institutions in Kuwait to reduce transaction times from days to a few minutes for its customers.
The bank will integrate Ripple’s enterprise blockchain technology into its existing services to offer its customers immediate confirmations. This will help the bank’s customers in sending money to friends, family and loved ones faster and more efficiently noted the bank.
ABK will be a part of the RippleNet, a decentralized global network of banks and payment providers. ABK’s group chief operating officer, Somnath Menon said:
“This partnership with Ripple is aligned with our unwavering philosophy of reimagining a simpler bank. We have significant interests in cross border remittances and plan to harness the power of Blockchain technology for making global payments faster and more convenient for our customers. As smart technologies continue to rapidly transform the financial sector, we remain committed to enhancing our offerings to our customers, and staying ahead of the innovation curve.”
ABK is not the only bank that Ripple has partnered with in Kuwait. The company has partnered previously with National Bank of Kuwait and Kuwait Finance House. @XRPCenter informed the community about the news by tweeting:
“*#Kuwait*
@Ripple is becoming the best option to send money into/from Kuwait. It has closed production agreements with the following banks:
1)@NBKPage (Largest bank)
2)@KFHGroup_Eng (2nd largest)
3)@Abk_kuwait (6th largest)
How could the rest compete?
#RippleNet”
Ripple’s MD of the MENA Region, Navin Gupta acknowledged this partnership and said:
“We look forward to supporting ABK’s ongoing efforts to enhance its digital banking services, by providing our innovative blockchain solutions for speedy cross-border payments”
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Source: AMB Crypto

XRP/USD Price Analysis: Bulls carry coin ahead while bear sharpens its claws

The cryptocurrency market had been under the bear’s vice and this contributed to XRP slipping from its second position on CoinMarketCap in terms of market cap, to third this month. Ethereum [ETH] took over XRP’s place in the market and it appears that the two coins are in a tough fight for the spot.
At press time, XRP was valued at $0.3032, with a market cap of $12.4 billion. The coin registered a 24-hour trading volume of $407 million, with a minimal fall of 0.27% over the past day. The coin noted a growth of 3.55% over the past seven days while registering a rise of 0.17% over the past hour.
1-hour

Source: TradingView
The coin’s one-hour chart indicates a downtrend from $0.3215 to $0.3128, followed by another downtrend from $0.3176 to $0.3093. XRP drew a resistance at $0.3107 and a support at $0.3059.
Bollinger Bands appear to be converging, indicating reduced volatility in the market. The moving average line is under the candles, suggesting a bullish trend.
Awesome Oscillator points towards a weakened bullish momentum.
Chaikin Money Flow has the marker above the zero-line, indicating that money is flowing into the market and that a bullish ride may be in the offing.
1-day

Source: TradingView
The one-day chart of the coin marks an uptrend from $0.2707 to $0.4785 and a downtrend from $0.5558 to $0.4785. The coin traced resistance at $0.3276 and support at $0.2926.
Parabolic SAR points towards a bearish reign as the markers have aligned themselves above the candlesticks.
MACD line is over the signal line, marking a bullish market.
Relative Strength Index indicates that the buying and the selling pressure are evening each other out.
Conclusion
As per the indicators, Bollinger Bands, Awesome Oscillator, Chaikin Money Flow and MACD, a bullish trend is forecast. However, the lingering presence of the bear cannot be ignored.
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Source: AMB Crypto

Ripple and XRP face new challenges as JP Morgan launches new stablecoin, JPM coin

JP Morgan launched its own stablecoin on February 14 and after being used for just one transaction, it has been applauded and called by some as the game changer for digital assets, reported Bloomberg.
The company hopes that its clients soon use JPM coins for cross-border payments, which would pose serious competition for the more prominent blockchain company, Ripple. This new coin is a direct challenge to Ripple and its digital currency, as per Tom Shaughnessy, principal at Delphi Digital which is a crypto research boutique in New York. The third largest cryptocurrency as per market cap, XRP could be used to carry out faster transactions for lower cost with respect to cross-border payments.
Ripple has been in the business for long and has been aiming to replace the SWIFT network used by banks, individuals, and businesses to carry out financial transactions. While JP Morgan registers transactions worth $5 trillion in wholesale payments every day, such a step could have a huge impact on its rivals. Shaughnessy said:
“This is a huge slap in the face for Ripple. Ripple’s target market is cross-border payments and remittances and now JPMorgan’s effort is a direct threat.”
As per the publication, Ripple’s CEO Brad Garlinghouse dismissed the impact of the coin’s launch and tweeted saying:
“As predicted, banks are changing their tune on crypto. But this JPM project misses the point- introducing a closed network today is like launching AOL after Netscape’s IPO. 2 years later, and bank coins still aren’t the answer.”
The San Francisco-based company has claimed that it has more than 200 banks and payment providers on its Ripple Network, which also includes Japan’s Mitsubishi UFJ Financial Group Inc. and Standard Chartered PLC, as per their website.
Travis Kling, the Los Angeles-based founder of crypto hedge fund Ikgai Asset Management had this to say:
“JPM’s project is much more evolutionary than revolutionary — it is utilizing a private, permissioned blockchain technology called Quorum, which is much closer to a Google Sheet than a Bitcoin. The project is clearly competing directly with Ripple Labs and their centralized cryptocurrency XRP.”
The JPM coin, unlike XRP, is pegged to the dollar, thus offering a stable medium of exchange for the people, while XRP was trading above $3 in early 2018 and has gone down to 30 cents currently. Shaughnessy added:
“The JPM Coin is a stable coin whereas XRP is anything but stable. That’s going to be a very contentious point for banks who don’t want the currency in which they make payments to be volatile.”
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Source: AMB Crypto

Binance Coin [BNB] pumps by over 6% as most other top-10 tokens face slump

The cryptocurrency bear market is stronger this time as most of the major coins are undergoing major changes almost every day. However, Binance Coin has taken advantage of the bear’s lose grip and has jumped by over 6%.
Source: Trading view
At the press time, BNB, was valued at $9.47, with a market cap of $1.3 billion. The coin registered a 24-hour trading volume of $85 million while registering 6.80% growth over the past day. The coin, however, has fallen by 0.25% after surging due to market correction. The coin has registered a growth of 16.58% over the past seven days.
Binance Coin [BNB] registered a volume of $29 million with the BNB/USDT pair on Binance. The second position in terms of trade was on the BNB/BTC pair, with a trade volume of $21 million. The third place was taken by P2PB2B, with a volume of $6 million on the BNB/BTC pair.
Looking at the growth in the coin’s price, Binance’s CEO Changpeng Zhao, or popularly known as CZ, tweeted:
“…18 months ago, 3 weeks after launch, $BNB at ATH, price is 1/50th of what it is now, 4 coins traded on @Binance. The tweet has 2 comments (as of this writing). Keep #buidling!”
Binance Coin was recently added on another medium, SpendApp, which will enable BNB holders to buy/sell the token with their account. Spend.com shared this news on Twitter by stating:
“#Binance Coin is now available on the #SpendApp. Buy/Sell $BNB with your bank account. Exchange $BNB with all supported assets. Spend $BNB at 40+ million locations with the Spend Wallet by instantly converting to fiat with the #Spend Visa® Card!@cz_binance @binance @Teddy_Lin”
Binance exchange is the largest exchange in terms of trading volume and recently, the CFO of the company, Wei Zhou, claimed that business is still profitable instead of the bear ravaging the market.
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Source: AMB Crypto

Tron Foundation’s Justin Sun says their aim for 2019 is to educate people on why Tron is better of all tokens

Tron, the eighth-largest cryptocurrency on the CoinMarketCap list has been performing well over the past few days. The Tron Foundation’s CEO and founder, Justin Sun, has been actively promoting the BitTorrent token [BTT] and it has reflected in its growing popularity. In a recent interview with The Street, Justin Sun stated his vision for Tron and BitTorrent token in 2019.
Tron’s known aim is to decentralize the web, however, this year, Tron aims to educate people on the topic “Why TRON over anyone else?”. Sun informed:
“…we’re constantly improving the protocol to deliver a better experience for everyone. When we talk about decentralizing the web, we’re thinking longer term about returning privacy and ownership online to the people, so that it’s not concentrated in the hands of just a few very large companies.”
Sun has appreciated the effort of the community in embracing BTT and informed that this month, Tron Foundation will be distributing a number of BTT tokens for free through a token airdrop to the holders in places apart from the US and China. Sun also said:
“We will follow with a live streaming product in some markets later this year.”
Apart from the airdrop, like Tron community, the BitTorrent Community is also growing and is “is getting introduced to the TRON community, in particular, the 27 Super Representatives who govern the network’s ledger with the consent of our decentralized community”.
The founder opined on the adoption process and what could drive it. According to Sun, once people understand blockchain as a technology and not just as a scheme to get rich, adoption will increase. However, for that to happen, Sun said:
“Companies have to create use cases that make sense, and which benefit the global community.”
Sun concluded by saying that he wanted people to not think of the cryptocurrency market as a money-making idea and understand why tokens and projects stand out over other solutions and “whether they can stand the test of time”.
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Source: AMB Crypto

Bitcoin [BTC] Price Analysis: Bear lures the coin into its trap

Bitcoin [BTC] the largest cryptocurrency in the world was going through its longest bear market until it pumped slightly on February 8. The coin has been performing sideways for the past few days and has now reported a 0.21% fall over the past day.
At the press time, the coin was valued at $3,630.81, with a market cap of $63.6 billion. The coin registered a 24-hour trade volume of $6.4 billion while reporting a seven days growth of 6.25%. The coin registered a growth of 0.16% by the past hour.
1-hour
Source: Trading View
The coin has marked an uptrend from $3,360.46 to $3,664.19 followed by a downtrend from $3,664.18 to $3,582. While the coin marked resistance at $3,606, there was no sign of a strong support.
Bollinger Bands appear to be diverging, increasing the volatility in the market. The moving average line is over the candlesticks, pointing towards a bearish market.
Awesome Oscillator marks a weakened bearish momentum.
Chaikin Money Flow indicates a bearish market as the marker is under zero.
1-day
Source: Trading view
The one-day chart of the coin marked strong downtrends from $6,188 to $3,774.99 and another one from $6,259.35 to $3,627.99. The coin did not mark any significant uptrend. Two resistances were marked at two points, at $3,652 and $4,075.33. The coin marked support at $3,344 and another strong support at $3,183.
Parabolic SAR marks a bullish momentum as the markers have aligned above the candles.
MACD line is over the signal line, marking a bullish market.
Relative Strength Index indicates that the buying and the selling pressures are evening each other out.
Conclusion 
The indicators, Bollinger Bands, Awesome Oscillator, and Chaikin Money Flow, from the one-hour chart, predict the bear’s attack. However, the indicators from the one-day chart, Parabolic SAR and MACD forecast a bullish ride. The bearish reign might return to the Bitcoin market as the majority side by the bear.
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Source: AMB Crypto

Nasdaq: Bitcoin Liquid Index [BLX] and Ethereum Liquid Index [ELX] to be added

The cryptocurrency market is being accepted by many every day and few financial institutions are also impressed by it and as per Bitcoin enthusiast, Mike Novogratz, there could be institutional money flowing in the cryptocurrency market by next year. While there are talks with the financial institutions, Nasdaq has offered to add two additional indexes tied to the cryptocurrency market, as per an alert on the equity exchange operator’s website.
Created by Brave New Coin, Bitcoin Liquid Index [BLX] and the Ethereum Liquid Index [ELX], aim to “provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD, and based on the most liquid ends of their markets,” informed the alert. As per The Block Crypto’s report, the indexes will capture data from different exchanges to provide a single price point for bitcoin [BTC] and Ethereum [ETH], to enable the traders to get in an out of a position. They will be made available to clients of Nasdaq’s GIDS data feed which also has 40,000 of Nasdaq indexes like Nasdaq 100 and Nasdaq Composite. The cryptocurrency tied indexes will go live at the end of the month.
The alert added:
“Both indices are calculated using a methodology that has been independently audited against key IOSCO principles. The BLX is one of the most widely-referenced BTC indices among crypto traders and has been calculated back to 2010. Likewise, the ELX has been calculated back to 2014.”
Apart from operating for equity, options and futures market, Nasdaq is also known for providing trading and market surveillance technology to seven cryptocurrency exchanges at least. Nasdaq has previously partnered with Symbiont, a crypto firm in order to offer white label solution to supports other exchanges to launch markets built on blockchain technology, reported the publication. Nasdaq also has been working towards its own bitcoin futures, whose launch date for the new market is still uncertain.
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Source: AMB Crypto

Bitcoin [BTC] proponent Mike Novogratz predicts the transition of BTC into ‘digital gold’

According to Galaxy Digital Holdings Ltd. founder Mike Novogratz, Institutional money should start to flow in this market within the next year. The founder in an interview with Bloomberg said:
“All the architecture that institutions need to feel comfortable with this is being put in place. You’re going to start to see custody come online” by the middle of March, making way for “smart money” make an entrance in a serious way.”
Once there are custody solutions form the likes of Fidelity, multinational financial services corporation, institutions could start to enter the digital-asset space. As per the publication, Novogratz informed that Fidelity has 200 or 300 customers interested in investing in crypto. However, he warned that not all money managers would run in at once because people would like to test the waters before engaging capital.
As per the former hedge fund manager and Goldman Sachs Inc. partner, in the coming 12 months, there are going to be “institutions put a small amount of their assets” in digital currencies.”A small number of institutional assets is a lot of money,” informed the crypto enthusiast who once was a high-profile Wall Streeter.
Novogratz said that this flow will set the stage for a rally. He added that this flow will take Bitcoin to $80,000, versus the price of around $3,582 as of 8:30 a.m. in London. Bitcoin [BTC], the largest token in the cryptocurrency market had peaked till $19,000 in December 2017 after which it miserably fell and bottomed at approximately $3,136 in December 2018.
Novogratz also speculated in the interview by the publication that the next runup could possibly separate Bitcoin out from a lot of other cryptocurrencies, repeating himself that Bitcoin is going to become “digital gold”.
At press time, Bitcoin [BTC] was valued at $3,617.93 with a market cap of $63.4 billion. The coin reported a 24-hour trading volume of $6.5 billion while noting a fall by 0.40% in the past day and 0.37% in the past hour.
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Source: AMB Crypto

Tron [TRX] Price Analysis: Bear befriends the estranged coin

All the major cryptocurrencies are trying to maintain their standing on the CoinMarketCap list and have been successful so far. Tron [TRX], the eighth-largest coin, has been promoted to the eighth position from the tenth and has been mostly undergoing a sideways movement.
At press time, the coin was valued at $0.0248, with a market cap of $1.6 billion. The coin reported a 24-hour trade volume of $153 million while registering a growth of 0.92% over the past 24 hours. The coin continues to spike by 1.01% over the past hour and has fallen by 3.54% over the past week.
1-hour
Source: Trading View
TRX’s one-hour chart noted an uptrend from $0.0277 to $0.0255, which was followed by an uptrend from $0.0260 to $0.0275. The coin marked resistance at $0.0255 and support at $0.0245.
Bollinger Bands appear to have diverged, increasing the volatility in the market.  The moving average line is under the candlesticks, indicating a bullish market.
Awesome Oscillator points towards a weakened bearish trend.
Chaikin Money Flow indicates bullish run too, as the marker is above the zero-mark.
1-day
Source: Trading view
The one-day chart of TRX marks a downtrend from $0.0208 to $0.0119, followed by an uptrend from $0.0132 to $0.0248. The coin traced a resistance at $0.0295 and support at $0.0238.
Parabolic SAR indicates a bearish market, as the markers have aligned themselves above the candles.
MACD line is under the signal line, marking a bearish reign.
Relative Strength Index indicates that the buying and the selling pressures are evening each other out.
Conclusion
As per the majority of the indicators, Awesome Oscillator, PArabolic SAR, and MACD, a bearish reign is being forecasted. However, Bollinger Bands and Chaikin Money Flow predict a bullish hangover.
The post Tron [TRX] Price Analysis: Bear befriends the estranged coin appeared first on AMBCrypto.
Source: AMB Crypto

XRP FUD: Multiple Twitter bots found manipulating XRP investors by claiming token’s dev team has quit

The cryptocurrency market recently saw a shift in the positions of two major coins on the CoinMarkeCap list – XRP and Ethereum [ETH]. Ethereum overtook XRP to promote itself to the second position and ever since, XRP and Ethereum have been in a tough fight for the spot. However, this game has been disrupted by an XRP FUD on Twitter.
On February 13, the members of XRP community and other holders started getting tagged in random people’s Twitter posts which asked them to not buy XRP as its team of developers were quitting to create another project, demotivating possible investors from buying the third-largest token.
Source: Twitter
These users are speculated to be bots by the members of the XRP community and it has been noticed that the same profile is tagging numerous other people and ‘warning’ them about the XRP dev team’s exodus.
Source: Twitter
Source: Twitter
One Twitter user @jeremy_87110 identified this ongoing trend and warned the community about the “anti-XRP” bots with no followers or following only those who are flooding people’s pages with such messages.
Source: Twitter
However, some members of the community laughed at this activity by the bots. Twitter user @Ahuerta17, replied to one such bot:
“Thanks for the info, didn’t know the dev team had abandoned the project! I’m going to sell all my XRP right now!!! #satire”.
While another Twitter user @XrpGoat said:
“This is terrible behavior, but possibly the most bullish news in a while! On a serious note, new investors deserve much better.”
Tiffany Heyden, a popular XRP proponent, was also made aware of this on-going FUD and she tweeted back saying:
“What the hell? You are right. There are bots tweeting to individual users, warning them about XRP. I would say report them all, but reporting too many accounts might put your own at risk.
cc: @TwitterSupport
$XRP #XRPCommunity”
The active members have reported about this activity to Twitter and have reported these accounts but with new accounts popping every minute, it might get tedious for Twitter to act on this request. People have started speculating the reason or the person behind this act but could not put their finger on just one.
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Source: AMB Crypto

Ripple: Western Union piloting settlement tests with Ripple

The cryptocurrency market has been of deep interest to the Financial Institutions but the continuous ups and downs have kept a few major institutions at bay. However, Western Union has a piece of good news for the Ripple followers as per Western Union’s Global Money Transfers General Manager, Asia Pacific, Molly Shea.
Shea in a podcast interview with Analyseasia said:
“We’re piloting some settlement tests with Ripple for certain corridors, the US Dollar and the Mexican peso is one example..learning about possible opportunities.. the options that we choose need to be legitimate and widely acceptable for consumer use”.
Shea informed this to the audience when she was asked about her views towards blockchain and its applications to remittances while assuring the listeners that the physical currency is “not going anywhere”. Shea said that the field of cryptocurrencies is still evolving and it is about staying knowledgeable about the technological advancement to know its application for what you need. Shea also informed:
“We have made an investment in a digital currency group. It’s a fund that finds industry-leading insights into blockchains and cryptocurrency space. “
Western Union Global Money Transfer President, Odilon Almeida had claimed in an interview with Reuters Plus that the company is “ready to adopt any kind of currency”, potentially cryptocurrency.
He had stated that there is not much difference between cryptocurrency and regular digital payments. According to Almeida, the firm’s long-term stance makes it conceivably prepared to launch any type of currency, which includes blockchain-based currencies too. He had said:
“We already operate with 130 currencies. If one day we feel like it is the right strategy to introduce cryptocurrencies to our platform, technology-wise, it’s just one more currency. I think cryptocurrencies may become one more option of currency or assets around the globe to be exchanged between people and businesses. If that happens, we would be ready to launch.”
While Western Union and Ripple’s xRapid are working towards speedy cross-border payments, this pilot settlement tests could go a long way in achieving it.
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Source: AMB Crypto

XRP/USD Price Analysis: Coin could soon go for a bullish ride

The cryptocurrency market has been seeing a new high for the past few days. This new green market has lifted Ethereum [ETH] and put it in the second position, replacing XRP. XRP also underwent a hike but that did not help it from slipping from the second position.
At press time, the coin was valued at $0.302, with a market cap of $12.4 billion. The coin registered a 24-hour trade volume of $469 million with a fall of 0.72% over the past day. The coin has recorded a rise of 1.09% over the past week, however, is noted to fall by 0.06% over the past hour.
1-hour:
Source: Trading view
The coin’s one-hour chart marks an uptrend from $0.3217 to $0.3046 and is followed by a downtrend from $0.3215 to $0.3059. The coin traced immediate resistance at $0.3088 while another strong resistance was noted at $0.3154. The coin also marked support at $0.3041.
Bollinger Bands appear to be diverging, increasing the volatility in the market. The moving average line was under the candlesticks, indicating a bullish trend.
Awesome Oscillator also marks a weakened bullish trend.
Chaikin Money Flow also indicates a bullish reign as the marker has just crossed the zero-mark.
1-day:
Source: Trading view
The one-day chart of the coin noted an uptrend from $0.2707 to $0.4785 and was followed by a downtrend from $0.5551 to 0.3177. The coin marked resistances at two points, at $0.3177 and $0.3276. Support was noted at $0.2933.
Parabolic SAR points towards a bearish market, as the markers have aligned above the candles.
MACD line is over the signal line, marking a bullish market.
Relative Strength Index indicates that the buying pressures and selling pressures have evened each other out.
Conclusion
As per the majority of the indicators like MACD, Awesome Oscillator, Bollinger Bands, and Chaikin Money Flow, a bullish ride is scheduled for the token, however, the lingering presence of the bear cannot be ignored.
The post XRP/USD Price Analysis: Coin could soon go for a bullish ride appeared first on AMBCrypto.
Source: AMB Crypto

Tron’s BitTorrent [BTT] hikes by a whopping 18%; airdrop concludes

The major coins on the CoinMarketCap are proving their mettle to be a part of the top 10, while the other coins are trying to fight the raging bear. BitTorrent [BTT] is one such coin that is trying to handle the heat of the market and succeeded in registering tremendous growth by registering a growth of over 18% in the past 24-hours.
Source: Trading view
At the press time, the coin was valued at $0.0009 with a 24-hour trading volume of $199 million. The coin reported a growth of 18.59% over the past 24 hours and is currently growing by 0.50%, however, BTT has registered a massive fall of 11.99% over the past week.
The coin was highly traded on UPbit with BTT/KRW pair and the registered volume was $76 million. UPbit was followed by Binance for acquiring the second and the third position with BTT/USDT and BTT/BTC pairs. The volumes registered by each of the pairs was $66 million and $39 million, respectively.
The reason for this hike could be due to the airdrop by Tron foundation and BitTorrent Inc. which was set to distribute 1.1% of the total token supply of 990,000,000,000 or 10.89 billion BTT. This total BTT was going to be distributed to the Tron hodlers. As per Ethereum World News, there was going to be an influx of roughly 2,400 BTC  worth of token in the market, according to the value of the token at the time of airdrop.
As per the publication, traders had predicted two scenarios for the token’s reaction in the market post airdrop. Firstly, the immediate influx of BTT from the airdrop could cause tremendous selling that would impact the value of the token negatively. Secondly, crypto exchanges and wallet responsible for the distribution could require time to process all transactions relating to the airdrop and this would enable BTT to thrive in the market as traders get more interested.
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Source: AMB Crypto

Bitcoin [BTC] Price Analysis: Bulls claim back territory in a long, dreaded bear market

The cryptocurrency market had been in the bear’s reign for long enough to make the market vermillion, however, the end of the week got great joy as the coins soared and rode a bullish high. Bitcoin [BTC], which had been falling for the longest time, also noted a significant growth.
At the time of press, the Bitcoin was valued at $3,647.67, with a market cap of $63.9 billion. The coin registered a 24-hour trade volume of $6.4 billion while registering a growth of 5.28% over the week. The coin has been falling by 0.48% over the past day and continued to fall by 0.19% over the past hour.
1-hour
Source: Trading view
According to BTC’s one-hour chart, the coin reported a downtrend from $3,428.41 to $3,366.96, followed by an uptrend from $3,356.22 to $3,586.67. The coin drew resistance at $3,648.85 and a support at $3,585.60.
Bollinger Bands appear to be converging, decreasing market volatility. The moving average line is over the candles, indicating a bearish trend.
Awesome Oscillator also indicated a weakened bearish momentum.
Chaikin Money Flow, on the other hand, indicates a bullish market as the marker line is above the zero-mark.
1-day
Source: Trading view
According to the one-day chart of the coin, a downtrend is traced from $6,188 to $3,195.71, after which an uptrend was noted from $3,194.99 to $3,358.99. The coin marked an immediate resistance at $4,040.98 and another resistance at $4,075.33. The coin observed strong support at $3,358.99 and another resistance at $3,184.28.
Parabolic SAR points towards a bullish trend as the markers have aligned themselves under the candles.
MACD line is over the signal line, marking a bullish trend.
Relative Strength Index indicates that the buying and the selling pressures are evening each other out.
Conclusion
As per a majority of the indicators, Chaikin Money Flow, Parabolic SAR, and MACD, a bullish market is forecast. However, Bollinger Bands and Awesome Oscillator are predicting a bearish market taking over.
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Source: AMB Crypto