Crypto-Market Update: MCap Nears $250 Billion; Alts XRP, ETH, BNB, XTZ Join Bitcoin’s [BTC] Bull Run

Bitcoin [BTC] rose from $6000 to $8000 in less than a week. The gain on Bitcoin since the beginning of the month is 52.2%. Moreover, the sudden unprecedented rise made the altcoin traders wary of their investments as it continued to lose value to BTC. Altcoins traders which seemed to be losing value to Bitcoin maximalists are finally seeing green in their ledger.
Bitcoin’s rise cooled of near $8000 for the moment, the low and high from yesterday was $7621 and $8350 respectively. The price of BTC at 4: 00 hours UTC on 15th May 2019 is $8031.
XRP and XLM Continue Gaining on Consecutive Days
XRP seemed to begin the altcoin run as it gained more than 30% on Tuesday. It has continued to gain on the following day as well, as the price of XRP is trading 20.66% higher on a daily scale. The price of XRP at hours UTC on 15th May is $0.432.
XRP/USD 4-Hour Chart on Kraken (TradingView)
Stellar (XLM) which is closely related to ripple in terms of audience and vision rose with the ride as well. The price of Stellar is $0.119. It is trading 13.5% higher on a daily scale.
Ethereum, Bitcoin Cash [BCH], Litecoin [LTC]
Ethereum, the second largest cryptocurrency according to total market capitalization; it added another $2 billion to it in the past day. Moreover, Ethereum also rose w.r.t. Bitcoin [BTC] as it climbed back above 0.027 BTC.
ETH/BTC 1-Day Chart on Coinbase (TradingView)
Bitcoin Cash [BCH] and Litecoin [LTC] trading were trading at par on a daily scale. However, the rise in Bitcoin Cash [BCH] has been impressive almost equivalent to Bitcoin [BTC] as it gained almost 50% since the beginning of the month.
BCH/USD 1-Day Chart on Coinbase (TradingView)
The gain on Litecoin [LTC] has been in double digits as well. It broke above the $78 support and resistance, to trade in the $90 range.
Binance [BNB] Coin Breaks $25
Binance [BNB] coin broke above its previous all-time high as it traded above $25. The price which was looking towards the downside last week due to the hack at Binance Exchange has recovered to cement its 7th position w.r.t total market capitalization.
BNB/USD 1-Day Chart on TradingView
BNB seems to be getting resistance from the all-time high levels as it tries to break it for the third time in a month.
Tezos [XTZ], Cardano’s ADA and Tron [TRX] and IOTA Record Double-Digit Gains
Many altcoins traded in the green with double-digit gains on a daily scale. While all ‘good’ alt projects have been in the development phase in the past year, there was no specific reason for the rise of these altcoins except the bull run from Bitcoin [BTC].
Amongst the $1 billion MCap cryptocurrencies, Tezos [XTZ], Cardano’s ADA, Tron [TRX] and IOTA gained above or around 10%. ADA and TRX gained 11.6% and 10.7% on a daily scale. The price of ADA and TRX at 4: 00 hours UTC on 15th May 2019 is $0.085 and $0.0284 respectively. Furthermore, the gains on XTZ were more stupendous as its price broke above $1.6. It gained 17.4% on a daily scale.
The total market capitalization of the cryptocurrency market is closing in on $250 billion as it added about $4 billion in the past day. The dominance of Bitcoin [BTC] corrected from its yearly high of 60%, currently at 58.2%.
With the bull run in progression do you think we’ll reach 2017 highs soon or more accumulation is required? Please share your views with us.
The post Crypto-Market Update: MCap Nears $250 Billion; Alts XRP, ETH, BNB, XTZ Join Bitcoin’s [BTC] Bull Run appeared first on Coingape.
Source: CoinGape

Is Bitcoin Bull Run of 2017 Back, BTC Racing Towards $8000 Range

Is Bitcoin repeating 2017’s bubble history again.? This flagship cryptocurrency is setting a new record every new day this year – especially, the rally counts since April 2019. At present, the value of Bitcoin is too close to $8000.
Bitcoin kick-started its bull rally on April 01, 2019 by breaking $5000 which was then followed by $6000 and then $7000. It shot $7000 on May 12 – and on May 14, the BTC is all set to break $8000 record as well. At the time of writing, on May 14, 2019, the value of Bitcoin is up by 11.95 percent within the past 24 hours.
Image source – Coinmarketcap
Such a noteworthy bull run set Bitcoin’s trading volume at $138,465,519,444 USD and its value against the US Dollar at $7823.51.
It’s worth to note that Bitcoin within just 45 days (approximately), saw a huge rally and is all set to hit a new record of 9 month high.
Besides Bitcoin, other altcoins flourishing on the coinmarketcap today are Binance Coin and Bitcoin Cash as they gained a significant trading boost to become the top gainers at the crypto market cap. The former achieved a growth of 16.70% whereas the latter saw an 11.60% growth within the past 24 hours respectively.
Image source – Coinmarketcap
Besides BNB and BCH, Bitcoin poured its blessing on all the other major altcoins such as ETH, XRP, LTC, EOS, USDT, ADA, XLM. Nevertheless, reports earlier highlights that the performance of Bitcoin in terms of recovery is far greater than the other financial products.
Concerning the similar regards, CNBC media posted the comparative status of Bitcoin v/s S&P 500 which reveals Bitcoin has succeeded at 107.34% in comparison to S&P 500 which is up with 12.06%.
Image Source: CNBC
Can Bitcoin Repeat the history, the crypto bull run of 2017?
The ongoing rally seems amazing and it rekindles the memory of 2017’s which was called ‘bubble’ by many and monumental feat for the crypto ecosystem by others.
However, many analysts such as Mike Novogratz and Fundstrat’s Tom Lee predicted positive price growth of Bitcoin in 2019, who believed Bitcoin will achieve a significantly high price in 2019. Moreover, Mr. Lee strongly pointed out that the major contribution of institutional investors/customers will be the key reason behind the bull rally of Bitcoin this year.
What’s your take on Bitcoin’s ongoing productive price figure.? Do you think the history of 2017 will repeat.? Let us know.
The post Is Bitcoin Bull Run of 2017 Back, BTC Racing Towards $8000 Range appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] Gains from $7000 Pours Into Alts; ETH, XRP and BCH Replicate 10% Gains

Bitcoin [BTC] recently tested $7000 on 11th May 2019 as the price market capitalization of Bitcoin crossed $120 billion. However, Bitcoin [BTC] pulled back below $6800 soon in the next 4-hour trading session.
Moreover, altcoins also recorded double digits gains. Ethereum and Bitcoin Cash [BCH] broke $185 and $320 respectively. EOS also broke above $5.2 was a 9.2% gain on a daily scale.
Moreover, the market capitalization of the entire cryptocurrency market also gained over $6 billion in two 4-hour trading sessions, as the gains in BTC started pouring into altcoins. Frank Canfield, Co-Founder of Singal Profits had explained this phenomenon in a recent interview with Ran Neuner where he explained the beginning of the alt-season.
ETH/USD 4-Hour Chart on Coinbase (TradingView)
According to him, the altcoins are testing key support and represent a ‘falling knife’ w.r.t. BTC. However, there is a lot of room left for altcoin gains and that will happen once gains from Bitcoin start pouring into altcoins. He said in the interview,
“So liquidity moves from Bitcoin in the major market caps, then midcap and then the small caps and then in the sh*t coins. So they money moves downwards…”
XRP/USD 4-Hour Chart on Kraken (TradingView)
The rise in all major altcoins was near 10%. Ethereum [ETH], Bitcoin Cash [BCH], XRP and Litecoin [LTC] have seen identical gains in the 4-hour chart reciprocating Canfield’s thoughts. A long Bullish Marubuzo has been observed on major altcoins.
The total market capitalization of altcoins gained 8.15% as it added over $6 billion on a daily scale. The total market capitalization of altcoins market $86.524 billion. The rise of altcoins also decreased the market dominance of Bitcoin slightly (around 0.2%).
Do you think that a consolidated bull market will begin or the tussle between bitcoin and altcoins will continue till the dominance is highly unbalanced? Please share your views. 
The post Bitcoin [BTC] Gains from $7000 Pours Into Alts; ETH, XRP and BCH Replicate 10% Gains appeared first on Coingape.
Source: CoinGape

Bullish Bitcoin Altcoin Carnage Continues, Analyst Says Capitulation Just Beginning

Bitcoin’s early April 2019 rally through resistance at $4,200 halted the ongoing altcoin season in its tracks, and following the latest upward move in Bitcoin price charts the value of altcoins both relative to BTC and USD have began to plummet – with some setting new bear market lows.
In the aftermath of yesterday’s further Bitcoin rally to $5,650, BTC dominance broke out of resistance, causing additional bleeding in the altcoin market. As the decline continues, a leading altcoin analyst believes that capitulation in altcoins has only just begun, while another analyst predicts just how far BTC dominance will rise during the altcoin reckoning.
Altcoin Market a Sea of Red Following Further Upward Bitcoin Movement
The overall altcoin market has taken a massive hit in the last 24 hours, with most of the top ten experiencing 8% or more losses on the day.
EOS was the worst performer of the crypto top ten, dumping as much as 9.65% of its USD value, while Ripple, which has performed very poorly during the short-lived alt season, dropped another 7.5% to 30 cents per XRP.
Related Reading | Altcoin Trader: Alt Market Cap Shows Longest Accumulation Phase Yet 
Litecoin, which helped lead the initial altcoin rally and sparked what many were calling an alt season, has fallen 7.88% to $72.32 and is down over $20 from its local high of $94.
Even Binance Coin that’s shown resilience in the face of most bearish selloffs since the bottom was in back in December, took a significant hit.
Bitcoin Pumping While Altcoins Dump Inverse Relationship Began At Break of $4,200
Crypto analyst Luke Martin has shared a chart that visualizes when the inverse correlation between BTC and alts began. As demonstrated in the chart, altcoins had been closely following Bitcoin alongside it for each peak and trough, up until the Bitcoin’s break of $4,200.

$BTC pumping & alts dumping visualized.
Generally speaking most alts had positive corr with Bitcoin's moves for the past 5-6 months.
Relationship changed right after the $1k $BTC breakout.
*cc of $ETH, $LOOM, and $VET used as an example* pic.twitter.com/vCYu7bw4jF
— Luke Martin (@VentureCoinist) April 23, 2019

At that time, Bitcoin dominance broke up, potentially suggesting that the Bitcoin rally was fueled by alt season profit taking. Another analyst, who goes by the name BenjaminBlunts claims that BTC dominance breaking up “does not bode well for alts,” which has already been shown clearly in the recent bearish price action in the altcoin space.

closed off all altcoin positions, was fun while it lasted.
BTC dominance now breaking up does not bode well for alts pic.twitter.com/GR4LI6xhDG
— BenjaminBlunts (@SmartContracter) April 24, 2019

The trader also shared a chart that calls for a BTC dominance target of 64%, up 10% from yesterday’s 54% dominance. What’s not clear, though, is if dominance will rise due to altcoins bleeding further, or due to Bitcoin further rallying.
Another analyst, DonAlt, however, thinks it’s the former, and warns that “capitulation” may just be beginning. He called the messages he received from his followers asking if they should liquidate their altcoin holdings “heartbreaking.”

It's heartbreaking to get all these "Should I sell my alts now" messages.The beginning of capitulation is usually a bad place to sell anything.The end of it is even worse.
If you sell now you probably won't rebuy the bottom.If you don't you'll probably capitulate the bottom.
— DonAlt (@CryptoDonAlt) April 24, 2019

For those that bought during the peak of the bull run back in December 2017, seeing the first glimpse of altcoin bags showing signs of life once again, only to see them fall to new lows, is nothing short of heartbreaking for crypto investors.
The post Bullish Bitcoin Altcoin Carnage Continues, Analyst Says Capitulation Just Beginning appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin’s Misery Index Indicates Euphoria in the Cryptocurrency Markets: Fundstrat’s Tom Lee

Funstrat is an independent Research firm based in New York. Thomas Lee, a data science research analyst and Co-founder of the firm recently suggested that Bitcoin and altcoins look to be set up for huge gains consistent with or even higher than 2017 returns.
Fundstrat Research: Bitcoin’s Minery Index
Bitcoin’s Misery Index (BMI) is a new technique developed by Funstrat itself to analyze the sentiments of the holder of the cryptocurrencies. It is designed to range between 0-100 covering the sentiments of despair and euphoria in the markets. It is similar to the Relative Strength Index (RSI).
The BMI indicates a level of 89 currently, which is the highest level in two years. Hence, Thomas Lee suggests this is indicative of Euphoria in the market as a value above 67 has never taken place in a bear market. He indicated that a drop follows euphoria six out of six times. However, an abnormally high value during bear markets suggests that bulls are “the bull market is underway.”
According to him if Bitcoin pulls back it would not be an extension of the bear market, it would still be bullish.
He said, “Bitcoin will stage a pretty big recovery starting this year.”
Also Read: Bitcoin Must ‘Decouple’ From Altcoins Before the Next Bull Run: Experts Opinion
Beginning of the Alt-Season?
Moreover, Thomas Lee also tweeted recently suggesting that the altcoin season may be in progression. It was suggested from the correlation curve that Fundstrat has plotted that the correlation between Bitcoin and altcoins has reached its lowest value of 0.4% in late 2019 and most recently started to pick up at 3.3% on 15th April 2019.
Correlation index between altcoins and Bitcoins (Fundstrat)
Moreover, the average returns from altcoins during the previous cycle was about 11 times the return. While speaking about the strength of the bull market Lee Suggested that:
“Will the next alt-season be as strong as the past? Given there are probably only ~50mm active wallets (vs 5 billion Visa/MasterCard accts), we think crypto still early in the adoption curve. So it should be similar.”
Do you agree with the analysis from Fundstrat? Please share your views with us. 
The post Bitcoin’s Misery Index Indicates Euphoria in the Cryptocurrency Markets: Fundstrat’s Tom Lee appeared first on Coingape.
Source: CoinGape

Crypto Market Report: Bitcoin and Altcoins Fared Will in Q1 2019: LTC and BNB Gains Over 100%

Bitcoin and the cryptocurrency market entered 2019 taking the maximum brunt of bear pressure of 2018 with it. The irony with Bitcoin (BTC) traders is that they are long on Bitcoin massively. However, TA also suggests that fear of a bottom isn’t behind us.
The fears of a new bottom in Bitcoin [BTC] has kept the traders guessing the direction of Bitcoin for three months now. While regulatory progress has been slow, it has been mostly positive. However, the cryptocurrency projects and Exchanges are reeling under a massive liquidity crisis. While QuadrigaCX Exchange baffled the crypto-community as cryptocurrency worth $190 million went missing, Mt. Gox Exchange issue finally met its end after five years.
The 60-Day estimate of the volatility on Bitcoin is 2.20%. The monthly volatility index is even lower at 1.33% as Bitcoin primarily traded on the $3850-$4000 range.
The dominance of Bitcoin [BTC] at the beginning of the year was 51.7. During the second week of February, it reached a yearly high of 53.5%. However, it is down to 50.2% on 31st March 2019.
2019 Q1 High: $4186
2019 Q1 Low: $3401
Q1 Gain/Loss Percentage: 8.8% Gain
BTC/USD 2019 Q1 Chart on Coinmarketcap.com
Litecoin (LTC)
Litecoin [LTC] is one of the most preferred cryptocurrencies as a medium of payment. This is primarily because of Litecoin [LTC] being completely decentralized and its efficiency as a payment system. As Charlie Lee, the lead spokesperson of the Litecoin Foundation marked the end of the scalability debate, Litecoin [LTC] embarked upon a new journey to add fungibility to the ‘digital silver’ protocol.
Charlie Tweeted on 28th January 2019
“Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy. I am now focused on making Litecoin more fungible by adding Confidential Transactions.”
2019 Q1 High: $63
2019 Q1 Low: $30
Q1 Gain/Loss Percentage: 99.1% Gain
LTC/USD 2019 Q1 Chart on Coinmarketcap.com
Ethereum (ETH)
Ethereum had lost its second position w.r.t market capitalization to XRP in late 2018. However, with the resurrection of the updates on Ethereum towards Proof of Stake (PoS) and Plasma implementation with the Constantinople update revied the investor confidence in Ethereum (ETH) again. Ethereum is ranked second with a total market capitalization of $14.8 billion.
2019 Q1 High: $165
2019 Q1 Low: $103
Q1 Gain/Loss Percentage: 5.9% Gain
While Tron (TRX) and EOS are ranked above Ethereum (ETH) is many surveys by technology and feature. EOS gained nearly 100% of the value since the beginning of the year. It was recently ranked number one cryptocurrency in two independent pieces of research on cryptocurrencies. Tron (TRX) has been quiet in terms of price in 2019, trading primarily in the $0.022-0.027 range.
ETH/USD 2019 Q1 Chart on coinmarketcap.com
XRP (XRP)
The trading on XRP has subsidized considerably since the beginning of 2019. Moreover, XRP has lost 12.2% of its value since the beginning of the year.
The volatility index of XPR is, however, trading has been mostly concentrated in the range of $0.299 and $0.33 since the second week of January. It can mainly be attributed to the fact that Ripple’s partnerships and diversification now have little effect on XRP. However, it remains to be the most popular cryptocurrency backed by a centralized institution and over 200 banks.
2019 Q1 High: $0.378
2019 Q1 Low: $0.288
Q1 Gain/Loss Percentage: 11.7% Loss
XRP/USD 2019 Q1 Chart on coinmarketcap
Bitcoin Cash (BCH)
Bitcoin Cash has been one of the most volatile cryptocurrencies in the top ten market cap in 2019 in terms of direction. The price of Bitcoin Cash (BCH) has both bottomed at $108 and again attained a value of $170 after the increase started from the second of March 2019 from $120 range.
2019 Q1 High: $173
2019 Q1 Low: $108
Q1 Gain/Loss Percentage: 6.36% Gain
BCH/USD 2019 Q1 chart on coinmarketcap
Total Market Capitalization
Stellar Lumens (XLM)
Stellar Lumens (XLM) attained a low of $0.0737 during February as the bottoming fear in Bitcoin, and the entire cryptocurrency increased considerably. However, the market sentiments for Stellar Lumens (XLM) improved significantly after the announcement of wide-scale implementation in IBM’s world wire which has initiated partnerships with 72 banks in more than 40 countries.
XLM/USD 2019 Q1 Chart on coinmarketcap.com
Stellar Lumens High: 0.117 in March (Post IBM announcement), $0.128 in January
2019 Q1 Low: $0.0737
Q1 Gain/Loss Percentage: 2.5% Loss
Final Market Updates
Binance (BNB) Coin was trading at $6.10 at the beginning of the year. The price of Binance (BNB) coin on 31st March 2019 was $16.93. Hence, a rise of almost 180% was recorded in three months. The other popular Exchange based cryptocurrency, Huobi Token (HT) also gained over 175% in the same period. The price of Huobi Token (HT) on January 1, 2019, was $1.07 which increased to about 2.74 on 21st March 2019. The cost of HT on 31st March was $2.54.
Some of the other top performing cryptocurrencies were Basic Attention Token (BAT), Crypto.com chain (CRO), Enjin (ENJ) Coin, Raven coin and Tezos (XTZ) with maximum gains.
The total market capitalization of the Bitcoin market attained at low of $111.86 billion.
Moreover, it has gained 13.9% since the beginning of the year. The total market capitalization of the cryptocurrency markets on 31st March 2019 was $144.2 billion.
The post Crypto Market Report: Bitcoin and Altcoins Fared Will in Q1 2019: LTC and BNB Gains Over 100% appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] Leads the Crypto Markets As Altcoin Traders Await A Definite Move

The price of Bitcoin at 8: 00 hours on 30th March 2019 is trading at $4211. It is trading 4.07% higher on the daily scale. The total market capitalization of the cryptocurrency markets was $147.61 billion.
While the 30-day volatility on Bitcoin was less than 1.5%, a big seems inevitable now. $4000 has acted as a prominent psychological level for Bitcoin for a long time now. However, the daily BTC/USD chart of the volume of the trading on Bitcoin was comparable to other days. Resistance along the $4200-$4300 area is observed, and high degrees of instability in price can be expected in the next few days. The target for the move from $4000 on the upside is $4450 while the stop loss for the same in $3850.
BTC/USD 1D Chart on Bitfinex (Trading View)
Major Altcoins Await Action From BTC
The BTC trading pairs of top cryptocurrencies have shown subsidized trading action. This was evident in Ethereum, Litecoin, XRP, ZEC, Dash, EOS, IOTA as they traded within 1.5% range w.r.t Bitcoin.
This can be attributed to the apprehensions of massive break-out in Bitcoin Prices. It is highly likely that if Bitcoin starts to pick up the altcoins would gain even more as trading volume will increase on Cryptocurrency Exchanges. However, in the event of a break-down from the price, altcoins might start to lose in double-digit percentages.
Altcoin/BTC Pair on Bitfinex
Litecoin (LTC) was also awaiting action from Bitcoin as it gained 3.8% on a daily scale. The price of LTC at 8: 00 hours UTC is $62.9.  The cost of the Ether (ETH) token is trading 3.85% higher on a daily scale at $143.85.
The total market capitalization of the cryptocurrency markets rose by 2.78% as the market added about $4 billion.
The top 50 cryptocurrencies according to market capitalization with significant gains included NEO, Ontology (ONT), Tezos (XTZ), OmiseGo (OMG), Maximine coin, and Augur (REP) token.  Maximine coin jumped 21%, the Chinese crypto mining based con is trading at $0.139 at around 8: 00 hours on 30th March 2019.
OmiseGo (OMG) Development
OmiseGo released its Generalized Plasma Architecture that will enhance extensibility and interoperability. OmiseGo has gained 9.57% on the daily scale. The price of OMG at 8: 00 hours on 30th March is $1.97.
The induced plasma architecture will enable Decentralized Apps to scale. With ‘predicates’ and off-chain implementation OmiseGo (OMG) is expected to offer services to a wide variety of merchants all over the world.
The dominance of Bitcoin (BTC) on the cryptocurrency market remained stable at 50.3%. Therefore, with more than 50% of the market capitalization and the apprehension of a break from the $4000 psychological levels will act as a catalyst for an upward or downward movement following Bitcoin (BTC).
The post Bitcoin [BTC] Leads the Crypto Markets As Altcoin Traders Await A Definite Move appeared first on Coingape.
Source: CoinGape

Altseason is Separating Good Ones From Shitcoins: Expert Opinion

The following article is the rework of the thoughts put forward by Mati Greenspan, Senior Market Analyst at eToro.
Key Highlights:

Shitcoins and garbage ICOs of 2017 are losing their value
Volumes of crypto to crypto exchanges rose by 20% confirming Altseason
Cardano, Ethereum Classic, and IOTA spike

Over the past couple of weeks, there has been some significant movement in the altcoins which is put a question to many, whether are we actually in an AltSeason. There have some peculiar characteristics noticed, where The top cryptos have mostly been stable over the last week but there has been rapid fluctuation among many of the lower cap coins. there have been dozens of altcoins with massive gains and massive losses. Some of the top gainers have seen more than 200% returns and some of the losers are down more than 90%. Most of these coins have never been heard about before. Clearly, the shitcoins are getting separated from the good ones.
While there have been movements among altcoins, CryptoCompare new report gave out another signal that showed we are in an Altseason – the trading volume on crypto-to-crypto exchanges increased in February, outpacing December results, while the trading volume on fiat-to-crypto exchanges remained flat.
Source: Cryptocompare report
The data showed that fiat-to-crypto trading dropped from USD 73 billion in December 2018 to USD 63 billion in both January and February of this year. Meanwhile, crypto-to-crypto trading seemed to be thriving in the last month: having dropped from USD 142 billion in December to USD 131 billion in January, it more than made up for this drop by climbing to USD 157 billion in the shortest month.
While it confirmed the Altseason is currently going on, after some correction yesterday Three coins: Cardano, Ethereum Classic, and IOTA have already managed to shake off that move and are up today.
The post Altseason is Separating Good Ones From Shitcoins: Expert Opinion appeared first on Coingape.
Source: CoinGape

Altcoin Season Is Here, But What’s That Mean for Bitcoin (BTC) Dominance?

Over the last couple of weeks, bullish sentiment has returned to the crypto market. However, it’s not Bitcoin (BTC) that is causing the stir, it’s the possible altcoin season that is upon us that has traders, analysts, and investors everywhere interested again.
Most of the altcoin market has had a significant spike relative to their Bitcoin counterpart, and according to BTC dominance charts, a break below current dominance could send the altcoin market skyrocketing while Bitcoin remains relatively dormant.
If Bitcoin Dominance Breaks Down, Altcoins Should Soar
There’s no denying that the crypto market is at a critical juncture at the moment. The total crypto market cap has broken out of downtrend resistance, and traders everywhere are convinced an altcoin season is upon us. Even Google Trends suggests that this is true, due to a surging level of interest in Bitcoin’s crypto brethren.
Related Reading | Crypto Comeback: One Simple Chart Proves Altcoin Season Is Upon Us
While price charts of various altcoins when compared to BTC clearly depict that there is currently more buying interest in alts, BTC dominance has remained relatively stable even since August of 2018, when Bitcoin went on its own rally independent of altcoins.

total marketcap slowly breaking out on increasing volume pic.twitter.com/AqtQ4PKFAB
— Crypto_Ed_NL (@Crypto_Ed_NL) March 15, 2019

However, according to a number of crypto analysts, BTC dominance is resting on support after repeated touches, and could break down significantly. Further adding credence to this theory, is the timing of the altcoin season, as well as the total crypto market cap downtrend resistance being broken.

Sweating pic.twitter.com/mfHPH1Bx4P
— Livercoin (@livercoin) March 15, 2019

The recipe for an all-out altcoin season appears to be ready, but it just waiting on the first-ever cryptocurrency to stir the ingredients. It’s interesting to note that the current market conditions appear to closely mimic that of the previous bear market bottoming cycle, where altcoins like Litecoin began to rally significantly relative to BTC. During this time Bitcoin remained relatively stable,, while altcoins soared.

$ltc on $btc – what do you see? pic.twitter.com/HavAhtWTUS
— Polar Hunt (@polar_hunt) March 14, 2019

Some traders believe that the following Bitcoin rally is often due to traders taking profit from alts via trading BTC pairs.
What Happens if Bitcoin Dominance Bounces?
Bitcoin too is at a critical point. The price is near powerful overhead resistance that’s proven to be too difficult to get through throughout 2019 thus far. Each dump has gotten less severe throughout 2019, and if Bitcoin were to rally from its current price of roughly $3,900, overhead resistance would be taken out and a further rally to $4,500 to $5,000 could be in the cards.
If the first-ever crypto were to continue to stagnate, altcoins would rally causing BTC dominance to break down to 2019 lows. But what would happen if BTC dominance bounced at the current support level?

If $BTC pumps, better dump dem shitcoinz.
The contents of this tweet is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
( ͡~ ͜ʖ ͡°)
— Zissou (@ZeusZissou) March 14, 2019

For one, the notion of an altcoin season would be over before it ever officially started. The last time Bitcoin dominance spiked to the current level, was during the August 2018 rally fueled by Bitcoin ETF hype. During this rally, altcoins plummeted, despite typically showing correlation with Bitcoin price movements.
Related Reading | Experienced Altcoin Trader Outlines Expectations For Bitcoin and Alt Bull Cycles 
The likeliest scenario is that we see an eerily similar environment as was witnessed during the conclusion of the 2014-2015 bear market, where alts began to surge first ahead of Bitcoin, followed by a slow and steady climb for the leading crypto asset. However, if BTC dominance doesn’t break down as charts appear to suggest, the entire market could fall yet again, or Bitcoin could go on a major rally independent of all altcoins.
Featured image from Shutterstock
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Source: New feedNewsBTC.com

Altcoin Aversion: Poll Shows That Two-Thirds of Crypto Investors Are Bitcoin Maximalists

The crypto community is an opinionated bunch. Everyone has their favorite coin, be it Bitcoin or an altcoin, and investors love to share and defend their opinions with other crypto enthusiasts.
They also like to vote, and in a recent poll, it was revealed that the majority of crypto investors are predominantly Bitcoin maximalists, despite thousands of altcoins being available in the crypto market.
68% of Crypto Investors Prefer Bitcoin, Altcoins Are an Afterthought and a Risk
A recent poll was shared on Twitter by crypto analyst Dave the Wave, whose recent analysis includes looking at the weekly MACD in order to conclude if the bottom of the Bitcoin bear market is in. In the poll, the long-term chartist asks if a “newbie” were to have capital to invest in crypto for the next four years, how the portfolio allocation should break down.

So say a newbie has a sum of money to invest for the next 4 years in Crypto. What would you suggest?
— dave the wave (@davthewave) March 10, 2019

Of the options available for respondents to choose from was “all in BTC,” “all in alts” such as Litecoin or EOS, “30% in BTC, 70% in alts,” or “70% BTC, 30% alts.”
The overwhelming majority voted that leaning heavily toward Bitcoin allocation in one’s portfolio, while having at least some exposure to alts is the best way to invest in cryptocurrencies. A whopping 42% of respondents voted this way.
Related Reading | Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term
Following behind with a little more than a quarter of all votes at 26%, is the recommendation to be all in Bitcoin. With Bitcoin being the first ever cryptocurrency, the crypto with the most mainstream adoption, brand power, development, and regulatory framework, it shouldn’t be surprising to see Bitcoin being recommended as the bulk of one’s crypto investment portfolio. 
Next up, with 22% of the votes is the recommendation to invest in 30% Bitcoin, and the remaining 70% in altcoins such as Litecoin, XRP, Ethereum, and others. These investors see the possibility of more returns by investing in altcoins, however, realize that Bitcoin should be included in any sound crypto investment strategy.
Related Reading | Crypto Comeback: One Simple Chart Proves Altcoin Season Is Upon Us
The least recommended of the options, was going all in on alts. Cryptocurrencies are a risky asset class in general. Add in thousands upon thousands of altcoins with little to no use case currently, and there’s a recipe for disaster for the uninformed investor. Most altcoins have only been on the market for half of Bitcoin’s existence, many less, and have had less time to develop a working product or gain recognition in the industry.
The grand total of Bitcoin maximalists responding to the poll clocks in at 68% of all 1700 voters, leaving the remaining less than one-third either only or primarily focused on altcoins. While Bitcoin is clearly the best for a long term investment strategy, an altcoin season may be upon us which would result in the smallest percentage of investors realizing the most short-term gains.
Featured image from Shutterstock
The post Altcoin Aversion: Poll Shows That Two-Thirds of Crypto Investors Are Bitcoin Maximalists appeared first on NewsBTC.
Source: New feedNewsBTC.com

Crypto Market Update: Altcoins Markets (LTC, DASH, XLM, DGB and Zcash) Gain $2 billion as BTC Holds Stable

BTC today recorded its 7th Day of Stability as the leading cryptocurrency continues to trade in the small range of $3960-$3871. The range has become narrower since the beginning of the week, which indicate a strong move ahead. Nevertheless, the stability of BTC has attributed to the gains of the altcoins, because FUD around Bitcoin bottoming was tied to Altcoin as well.
The Altcoins Seems to start gaining momentum with their adoption news, road-map announcements, regulatory improvements, and developmental updates.
BTC vs USD Chart Low Volatility in BTC in March 2019
Major Altcoin Movements of the Day
The altcoin market has been in green on the daily, though, the gains have been marginal in most of the coins – in the range of 2-4%. The total market capitalization of the altcoin coins (excluding Bitcoin) has increased by almost $2 billion gaining 3% on the daily.
Altcoins Gaining the Most (Pic: coin360.com)
The trading analysis of Litecoin had suggested bullish momentum a couple of days back. However, it too has continued to trade in a small range around 55$. Moreover, the trading range of LTC is similar to that of BTC after gaining 15% on 6 March from $47.03 to $54.13. Ethereum too has continued to trade in the $131-134 range of 1% for the past couple of days.
Litecoin Chart from 5th March – 13 March ’19 (CoinMarketCap)
Stellar Lumens (XLM) And Dash (DASH) On the Right Path
XLM held on to its gains over the weekend post-Börsenmedien AG announcement of purchasing a stake in SatoshiPay. Stellar Lumens’ (XLM) total market capitalization is close to the market cap of 8th and 7th ranked Binance (BNB) coin and USD Tether.
Dash Gained 11% on Wednesday with it’s increased dedication to achieve complete decentralization and autonomy. Dash had released a Trust Protector Software, and the sentiment towards it has also increased considerably after DashText introduction. DashText is set to change the remittance avenues in Latin America through its revolutionary yet straightforward platform.
Zcash, DigiByte (DGB) and Komodo (KMD) Grow on Market Sentiments
Zcash also gained 7% on the daily, taking a cue from the bullish sentiments of the market. Digibyte (DGB) is also performing well; it increased by 12% on DGB/BTC from 330 Satoshi (sats) to 371 sats on 12 March ’19. Another notable mention is of Komodo; the privacy-focused cryptocurrency has gained 28% on the daily since Tuesday,
Market Shakers Enjin (ENJ) and Groestlcoin (GRS) Takes It a Notch Down
Furthermore, Enjin (ENJ) Coin’s rise after association with Samsung had cooled down on 12th March; correction in the price was almost 17% on 12 March ’19 from 0.00005089 levels to 0.00004230. However, with consistent volume and positive market sentiments, it has recovered from the correction, trading up by 7.5% on the daily.
Groestlcoin (GRS) which was one of the highest gainers over the weekend after its announcement of ‘crypto-payment cards’ backed by MasterCard corrected heavily on Wednesday morning losing 42% from its 7-month high price of $0.749.
The post Crypto Market Update: Altcoins Markets (LTC, DASH, XLM, DGB and Zcash) Gain $2 billion as BTC Holds Stable appeared first on Coingape.
Source: CoinGape

Roger Ver claims Bitcoin [BTC] maximalists have got Gold all wrong

Roger Ver never fails to stir up a storm within rival communities, this time riling up one of his favorite targets, the Bitcoin [BTC] community. Ver, who is also referred to as Bitcoin Jesus has continued his tirade against the top cryptocurrency since Bitcoin Cash [BCH] hardforked away from Bitcoin [BTC] in August 2017.
In his most recent tweet, Bitcoin Jesus stated that the BTC camp gets the concept of one of the most stable assets in the world, Gold, wrong. He stated that the metal has a “huge amount of industrial uses,” and it is because of these very uses that Gold is considered a “store of value.”
His tweet stated:
“It’s amazing how many BTC maximalists don’t even know that gold has a huge amount of industrial uses completely separate from just being a store of value. In fact, it’s those other uses that enable gold to be used as a store of value.”
Roger Ver failed to reference anything regarding the supply limitation of Gold, much like Bitcoin which is capped at 21 million. He claims that “those other uses,” give it the status of being a store of value.
The implication from this tweet could be, besides an obvious attack on Bitcoin, is that the top-cryptocurrency does not have any “industrial uses,” and hence is one of the reasons BTC cannot be a “store of value,” or a medium of exchange. However, this implication was not explicitly mentioned by Ver in his tweet.
Twitter users did not waste time and began lambasting Ver using the aforementioned supply cap argument.
Mike Dudas, the founder, and CEO of The Block Crypto did not mince his words. He commented:
“You and I both know that that is total horseshit — and I’m not a BTC maximalist, just someone with a normal amount of brain cells.”
jratcliff63367, a game developer and software engineer at Nvidia, a Graphics Processing Units [GPU] manufacturer which is used in Bitcoin mining equipment, stated:
“If gold were useful but also as plentiful as grains of sand, it would be nearly worthless. It’s not worth money because it’s ‘useful’, it’s worth money because it is scarce. BTW, Satoshi explained in detail how bitcoin mimics (and improves) upon the properties of gold.”
Dr. Bitcoin [ß] commented:
“No, it’s not. Silver and copper have many (more) industrial uses. That property is not what enables gold to be used as a store of value; its stock to flow ratio is. Regardless of how high demand is, amount of gold mined per year is predictably between 1-2% of total supply.”
As far as stability goes, Gold being precious and, more importantly, a tangible metal will allow it to have more features of an asset striving to be a “store of value.” However, in terms of transferability, cryptocurrencies are more widespread. jratcliff63367’s second comment succinctly puts forth this argument:
“It’s amazing that Roger doesn’t see the ‘industrial uses’ for bitcoin. The last time I tried to send an ounce of gold across the planet over the internet it didn’t work for me. Bitcoin does.”
The post Roger Ver claims Bitcoin [BTC] maximalists have got Gold all wrong appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC]: Bitrefill’s John Carvalho says users who love BTC don’t use Coinbase

The debate around Bitcoin [BTC] and altcoins has excited the market since the first altcoin emerged in 2011. Proponents of the top coin advocate a one-stop-shop cryptocurrency that can be a store of value and a medium of exchange, branding all other coins in the market as “sh*tcoins.”
One among those loyal to the BTC camp is John Carvalho, better known in the virtual currency community as BitcoinErrorLog, who scathingly replied to a conversion update by the American cryptocurrency exchange Coinbase. Carvalho is also serving as CCO at Bitrefill.
Coinbase put out a tweet on February 20, informing their clients that Bitcoin can be directly converted to a host of different cryptocurrencies. Among the coins on the conversion list were top coins like Ethereum [ETH], Ethereum Classic [ETC], Litecoin [LTC], Ox [ZRX], and Bitcoin Cash [BCH].
The tweet read,
“Did you know you can directly convert Bitcoin to another crypto on Coinbase? Conversions are available between Bitcoin (BTC) and Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Ox (ZRX), or Bitcoin Cash (BCH).”
John Carvalho replied:
“If you love Bitcoin, you don’t use Coinbase.”
BitcoinErrorLog was clearly not happy about the conversion options which make it easier to pull money out of Bitcoin and into coins which many, including him, consider irrelevant. Carvalho wasn’t done yet, however. He also responded to a user who said that Coinbase was a friend to BTC not long ago. He replied,
“Fu*k Coinbase. They aren’t any easier than other exchanges, they are just louder… And more evil.”
When accused of his tweet being based on emotions rather than facts, Carvalho stood by what he tweeted, saying,
“There are lots of reasons, do some research. If you love Bitcoin, at least.”
Recently, Carvalho caused quite a stir among the developer community by agreeing with Luke Dashjr’s proposal to push the Bitcoin block size to 300KB given the performance of the Lightning Network. To the proposal, BitcoinErrorLog commented that he would run the soft fork for the same.
Several proponents were unhappy and lashed out at both Dashjr and Carvalho for their proposition. Cobra, the co-owner of Bitcoin.org and Bitcointalk.org replied to Carvalho, referring to the aforementioned fork as a “contentions hardfork.” He added,
“This will split off from the established consensus, cause massive drama, and damage trust in Bitcoin.”
Another significant reaction to the same proposition came from the Bitcoin.com CEO, Roger Ver who stated that if this does materialize i.e. if the block size dropped to 300KB, he would sell all the BTCs he holds. In an episode on his YouTube channel, he said:
“I really really hope that Luke Jr. and all these other guys lower the BTC block size to 300 kilobytes if they do I will sell even more of my BTC. A lot more. Maybe, I would even sell all of it at that point. Absolute Insanity.”
The post Bitcoin [BTC]: Bitrefill’s John Carvalho says users who love BTC don’t use Coinbase appeared first on AMBCrypto.
Source: AMB Crypto

Crypto Analysts “Incredibly” Bullish on Ethereum as Price Jumps over 12%

The new week has started on a good note as crypto prices go green. However, among the top cryptocurrencies, Ethereum is rocking the highest gains of overall 12 percent.
At the time of writing, the second largest cryptocurrency has been trading at $138.24 with 24-hours gains of 11.40 percent. In the BTC market as well it is up by over 7 percent. If you take a look at Ether’s one-day price chart, it has been on an upward incline, going from $123 to $138.

Ethereum 24-hours price chart, Source: Coinmarketcap
With ETH reward reduction coming in just about 2 weeks, looks like this time Ethereum bulls have finally started a short-term rally for the crypto market.

Analysts Seeing a Major Shift Potential in Ethereum
As Ethereum prices spike upwards, Crypto analysts and traders are expecting even more green with a major shift coming its way.

According to Crypto trader Hsaka the Ethereum price chart is in a very bullish territory right now while expecting the prices to go above $145 as he says, “Take a breath before FOMO gets to you. Chart looks pretty darn bullish. That doesn’t mean blindly long at resistance, wait for a pullback and long that instead. Or wait for it to start consolidating under resistance.”

ETH/BTC pushing over the 200 day moving average for the first time in months. Also a 50/200 cross seems imminent. Major shift potential. pic.twitter.com/YzbowSw9ju
— Ledger Status (@ledgerstatus) February 17, 2019

Meanwhile, one crypto trader is far more bullish on Ethereum as DonAlt shares his sentiments towards this digital asset, “I’ve heard Etherum will one day be the global computer that does smart contractions so I rebought me a few at 121. Seems like a good idea if you compare it to BTC it can go x10 easily and still only be worth 1/3rd of a coin. That’s a steal right there.”

I’m incredibly bullish on $ETH for the next few weeks.
I’d get a cardboard Vitalk cutout if I could just so I have it by my side 24/7.
No matter what BTC does ETH will outperform the market in my mind.
I’ll use dips as giant buying opportunities.
— DonAlt (@CryptoDonAlt) February 17, 2019

While it is expected that Bitcoin could see a breakout as well, Ethereum is already nearing $140 and is poised for more gains. Having recently taken over the 2nd position from XRP, Ethereum is all set to make the most of its upcoming event on February 27.

$ETH
ETH gave some good opportunities this morning with a quick move up.
Raided the highs and is now retracing.
Depending on today’s daily close I’ll be targeting the $115 area for ETH.
That’d probably bring back all the bears that got stopped / liq’d on the move up. pic.twitter.com/n1x9weymSf
— DonAlt (@CryptoDonAlt) February 17, 2019

The post Crypto Analysts “Incredibly” Bullish on Ethereum as Price Jumps over 12% appeared first on Coingape.
Source: CoinGape

Sentimental Analysis for Cryptocurrencies- February 10

Cryptocurrencies are in a very difficult territory where no fundamental or technical indicators is actually affecting the price than the sentiment of the community. Every news article or a social mention is actually driving the trend and direction of where the prices are heading. Although most of the sentiment is derived from the sentiment of the Bitcoin- the largest cryptocurrency, still some altcoins have their specific pros and cons that change their variance from that of Bitcoin. Let’s look at the few indicators that are used widely across to determine the sentiment.
Bitcoin Sentimental Analysis
As mentioned it’s the largest coin in the market that decides most of the trend for the crypto markets is necessary to understand that sentiment it garners among the community. A lot of news flow and sell off has dampened the short term sentiment but yes there are some long-term positives which make Bitcoin an interesting study. An analysis of its social mention and greed and fear index would give us a clear idea of what is happening

Analysis Type
Tool
Analysis- Score
Sentiment

#BTC – Hashtag Analysis
Keyhole
Score: 92
Positives: 54.7 %
Negative: 4.2%
Neutral- 41.1%
Positive to Neutral- Positives rising

#BTC- Social Media Mentions
Social Mention
Sentiment 8:1 in favor of positives
With 15 scores towards neutral and 172 in favor of Positives
Positive to Neutral

Fear to Greed Index
Alternative.me
Score 42–Fear
Negative

Fear to Greed Index
CNN Money
Score 61 -Greed
Positive

 
So Bitcoin is forming a base close to 3600 and that is what keeps the sentiment neutral to positive. The greed and fear indexes are still showing divergent views of fear and greed indicating the non-decisiveness and cautiousness in the market all though things are improving
Altcoin Sentimental Analysis
Fear and Greed index is only available for BTC as not may altcoins have all components required to calculate it

Altcoin
Keyhole #  analysis
Social Mention
Sentiment

ETH- Ethereum
Score – 89
38.2% Positive
4.4% Negative
57.4%- Neutral
15:1 towards Positives
Neutral 62
Neutral to Positive- Positive rising

XRP- Ripple
Score 90
23..7% Positive
2.6% Negative
73.7% neutral
2:1 towards Positives
Neutral 108
Neutral to Positive, Neutrals rising

BCH- Bitcoin Cash
Score 80
29.6 % Positive
7% Negative
63.4% Neutral
7:0 towards positives
Neutral 19
Neutral to Positive- Neutrality rising

EOS
Score 91
21.2% Positive
1.9% Negative
76.9%- Neutral
8:1 towards positives
Neutral 100
Neutral to Positive-
Neutral rising

XLM-Stellar
Score 95
43.4% Positive
1.9% Negative
54.7% Neutral
1:1 towards positives
Neutral 148
Neutral

 
Sentiment for most of the altcoin has been neutral to positive as most coins remain range bound. The only standout here is Ethereum which has seen some sharp rise in price due to some positive sentiment. XLM has gone extreme flat on sentiment turning neutral completely.
Will this sentiment actually pull back the prices? Do let us know your views on the same.
The post Sentimental Analysis for Cryptocurrencies- February 10 appeared first on Coingape.
Source: CoinGape