Bitcoin (BTC) Price Targets Additional Gains: Dips Remain Supported

Bitcoin price started a fresh increase after forming a support base above $6,900 against the US Dollar.
The price gained bullish momentum above $7,400 and settled above the key $7,650 pivot level.
There is a major bullish trend line forming with support near $7,610 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair remains well supported on the downside above $7,600 and it could soon break $8,200.

Bitcoin price is positioned nicely in the positive zone above $7,600 against the US Dollar. BTC could correct in the short term, but dips remain supported near $7,760 and $7,650.
Bitcoin Price Analysis
Recently, bitcoin price formed a strong support near the $7,250 level against the US Dollar. The BTC/USD pair started a strong rise from the $7,230 swing low and climbed above the $7,400 resistance level. The recent upward move was such that the price even climbed above the $7,500 resistance and the 100 hourly simple moving average. Finally, there was a clear break above the $8,000 resistance level. The price tagged the main $8,280 resistance level and recently corrected below the $8,150 level.
There was a break below the 23.6% Fib retracement level of the last wave from the $7,230 low to $8,288 swing high. However, the $7,800 level is acting as a strong buy zone. Moreover, the 50% Fib retracement level of the last wave from the $7,230 low to $8,288 swing high is also near the $7,764 level to provide support. More importantly, there is a major bullish trend line forming with support near $7,610 on the hourly chart of the BTC/USD pair. It seems like there is a strong support forming near $7,610 and the 100 hourly SMA.
Besides, the 61.8% Fib retracement level of the last wave from the $7,230 low to $8,288 swing high is also near the $7,640 level. Therefore, if the price corrects lower from the current levels, the $7,760 and $7,650 levels are likely to act as strong supports. If there is a downside break below the $7,600 support zone, the price might move back in a bearish zone.

Looking at the chart, bitcoin price is currently trading with a positive bias above the $7,650 support. As long as the price is above $7,600, it is likely to continue higher towards $8,200 and $8,300. A clear break above the $8,300 resistance may perhaps clear the path for more gains above $8,400.
Technical indicators:
Hourly MACD – The MACD is slowly moving in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is moving lower, but it is well above the 50 level.
Major Support Levels – $7,760 followed by $7,650.
Major Resistance Levels – $8,150, $8,200 and $8,300.
The post Bitcoin (BTC) Price Targets Additional Gains: Dips Remain Supported appeared first on NewsBTC.
Source: New feedNewsBTC.com

Dash More Popular Than Bitcoin and Litecoin in Venezuela: CEO of Dash Core Group

Dash is a privacy-focused cryptocurrency, aimed towards providing low-cost remittances around the world. The Dash Core team under CEO Ryan Taylor, responsible for the development and adoption of Dash has made a lot of progress in Venezuela. They have made it their primary focus as they continue to offer other low-cost solutions to improve the technology infrastructure in Venezuela.
Recently, in an interview with Fred Schebesta of Crypto Finder, Ryan noted that,
“Dash is actually used more often at the point-of-sale in Venezuela than Bitcoin and Litecoin combined… We have two-three thousand merchants in Venezuala acception Dash.”
Dash has also been integrated by MasterCard earlier this year to provide feasible crypto-to-fiat payments. Taylor also talked about Dash integrated cell-phones which have dash wallets in-built in them. According to him, they have shipped a hundred thousand of those phones.
The Dash Core group is also establishing partnerships with existing remittance providers and financial institutions to reduce the overall cost of remittance and decrease the “monopolistic” effect of big firms in the remittance industry.
Price Surged by Almost 40% Over the Week
Dash recorded a price surge of 23% on 19th May 2019, as the price broke above resistance levels. The price of Dash at 5: 00 hours UTC on 20th May 2019 is 166.9. It is trading 10.92% higher on a daily scale.
DASH/USD Daily Chart on TradingView
Dash corrected slightly as it met resistance near $170. On a weekly scale, the price has surged over 38% as it began last week at around $125. The total market capitalization of Dash also touched $1.5 billion as it gained a couple of ranks to cement 13th position w.r.t. Mcap.
DASH/USD 1-Week Chart on TradingView
The All-Time High Price of Dash is above $1400. While it was achieved during the bubble of 2017, Dash has improved its reach and adoption tremendously.
Do you think the bull run on Dash will be back? Please share your fundamental and technical viewpoints with us. 
The post Dash More Popular Than Bitcoin and Litecoin in Venezuela: CEO of Dash Core Group appeared first on Coingape.
Source: CoinGape

SEC Commissioner ‘Optimistic’ About Bitcoin ETF, But Delay of VanEck Proposal Most Likely

A Bitcoin ETF (Exchange Traded Fund) approval would enable the US market to predict and trade on Bitcoin prices without actually having to buy and sell Bitcoin [BTC]. The fund would track the price of the underlying asset, which can be Bitcoin alone or a basket of assets including other cryptocurrencies or other equities, bonds or commodities as well.
The Securities Exchange Commission is the regulatory authority that approves or denies a specific request to launch a new ETF on the market. There are more than nine Bitcoin ETF applications pending with the SEC. Moreover, the SEC also received a new crypto-basked (Bitcoin and Ethereum) based ETF application.
Reportedly, the total capital of the US ETF market is about $5 trillion. Even if 1% of the trading moves to Bitcoin, it will effectively increase the market capitalization of Bitcoin alone by $50 billion.
Industry Experts Weigh SEC Options
Jake Chervinsky, an Attorney at Kobe and Kim LLP. had noted on May 17, 2019, that,
“The SEC delayed the Bitwise bitcoin ETF two days ago but still hasn’t made a decision on VanEck. This is unusual: the SEC would normally handle both ETFs at once. The VanEck deadline is next Tuesday. I still think the delay is overwhelmingly likely, but the timing has me curious.”
Also Read: SEC is not Against Crypto ETF – Bitwise Explains
The comments are likely to get the hopes high for any Bitcoin bull. However, according to the filing dates, the deadline for Bitwise was on 16th May, while the deadline for the re-applied Van Eck proposal in 21st May.
The VanEck proposal was withdrawn and re-submitted by the firm itself on 20 February 2019. The deadline for which was a 45-day period which ends on 21st May 2019.
Furthermore, in a recent interview with Ran Neuner from CNBC fast money, Hector Pirce, the SEC Commissioner hinted at a further delay. She said,
“I am still optimistic. Don’t hold your breath. Market manipulation are issues that get a lots of attention at the SEC.”
Hence, the positive outcome for bulls would be a delay in the approval over a complete rejection.
Jake Chervinsky also predicted that there is a 75% probability that the proposal will be delayed and 0.1% probability of an approval. He said in a recent tweet,
“In the past, the SEC has typically bundled together all of its decisions on pending bitcoin ETFs & announced them on the same day… To be fair, the fact that the SEC delayed Bitwise & stayed silent on VanEck could mean nothing at all. He went on to say that, “Bitcoin has been very volatile recently & investigations related to fraud & manipulation have ramped up (like NYAG & Bitfinex). The SEC has no reason or incentive to come out in favor of bitcoin in this environment.”
Also Read: SEC Delays Bitcoin ETF Yet Again, Will It Hinder the Expected Bull Run?
The Bitcoin ETF proposal has been pending the markets for six years since its first application. The SEC has denied and delayed, and all of them until now. Nevertheless, a denial or delay is unlikely to dampen market spirits.
What are the chances of approval according to you? Please share your views with us. 
The post SEC Commissioner ‘Optimistic’ About Bitcoin ETF, But Delay of VanEck Proposal Most Likely appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] creates High Low of $7,100 following recent breakout; foundation for $9,000 surge?

Bitcoin [BTC] and the recent $8,000 break-out is massive for the cryptocurrency market going forward. On the back of no major announcement in the past few days, and the pull-back of the previous week, the king coin won its second battle against the price ceiling curating a major high, in the form of an exhibited low.
As the May 19 bulls rampaged the market, buoying the top cryptocurrency to rise by 7 percent in the hour earlier today, a new High-Low [HL] was seen at just below $7,100 which sparked signs for the foundation of a $9,000 break-out. With Bitcoin trading above $8,000 and showing marginal gains off-late, a continued run is foreseen by many in the community.
Given that the king coin edged below the aforementioned price point last week, and dropped quickly to a low of $7,100 during the anticipated “pull-back,” although with compounded reasons pertaining to the post-Consensus bears and the Bitstamp sell order, the recent incline over $8,000 is a positive sign.
CryptoMonk, a Bitcoin and altcoin trader and host of the crypto-monsoon podcast, ironically, attested to Bitcoin’s continued ascent into crypto-spring. He tweeted:
“$BTC has just successfully printed another HL.
It’s a matter of time before we see + $9k.”
The trader supported his statement with a chart depicting the various HLs exhibited by the coin in the past few months. Prior to the HL of $7,100, the previous one was seen just below $7,000 and the one before that was around $5,500 during early May when the FOMO had not set in yet.
Source: Twitter
What is even more surprising, is the fact that there is no real source of Bitcoin’s current 10.16 percent daily gain. Unlike the earlier $8,000 ascendance, which was on the back of several announcements involving Bakkt, Gemini, Microsoft, and Amazon.
Interestingly, the recent price surge mirrored the April incline, as there was no real indicator for the pump. Yes, several signs in the form of an April fool’s joke, China-BTC-mining ban FOMO, and a large automatic buy order were touted as the source, none could be confirmed as the primary push. This April 2 push was the foundation for the successive BTC pumps over $6,000, $7,000 and now $8,000 with $9,000 on the cards.
CryptoMonk did issue a cautionary tone prior to a likely confirmation of a $9,000 breakout. The High High [HH] which stands at $8,260, formed on the back of last week’s pump before the “pull-back,” will act as a resistance of some sort, and if the same is broken, a constant push will, more or less, be a high possibility.
The post Bitcoin [BTC] creates High Low of $7,100 following recent breakout; foundation for $9,000 surge? appeared first on AMBCrypto.
Source: AMB Crypto

Game of Thrones ignites barrage of Bitcoin [BTC] bets on who will take the ‘Iron throne’

The much-awaited Game of Thrones series is coming to an end and the true ruler of Westeros is still a debated topic. However, the cryptoverse made things interesting for the GoT fans as it introduced a betting game for the fans to earn the largest cryptocurrency in the world, Bitcoin [BTC].
FreeBitco.in, a Bitcoin [BTC] faucet on its platform hosted this betting game for its registered users to place a bet on their best choice of who would ultimately sit on the iron throne. Among the choices were obvious ones like Jon Snow, Daenerys Targaryen, and Cersei Lannister, but there were also other options like the Stark siblings- Bran, Arya, and Sansa, Tyrion Lannister, Gendry Baratheon, and the Night King. However, an option of ‘Unknown’ was also available for the users to choose.
At the beginning of the season 8, Jon Snow led the betting with 1.532005 BTC, however as the season progressed Jon Snow slipped to the second position, as Bran took to the lead, while ‘Unknown’ settled as the third best option. The pool value of the bet currently rests at 4.97219626 BTC, worth almost $40k. However, the pool has a time multiplier, implying reducing reward shares as time passes.
At press time, 41% of bets were placed under the name of Bran Stark AKA the Three-Eyed Raven, followed by the King in the north AKA Jon Snow with 22%. The bets for an unknown character taking the throne were around 13%, after which Sansa, Tyrion, and Daenerys accounted for 5% each.
As the Game of Thrones comes to an end and the Crypto market cheers for the rising price of BTC, even as the winner of the pool could land themselves with a handsome amount in BTC, as it has already crossed $8k.
The post Game of Thrones ignites barrage of Bitcoin [BTC] bets on who will take the ‘Iron throne’ appeared first on AMBCrypto.
Source: AMB Crypto

Charlie Shrem claims Mt.Gox was the first to create ‘token as debt’, not Bitfinex

The cryptocurrency market has seen quite a few scandals and Mt. Gox was among the most infamous of them all. Charlie Shrem, a Bitcoin entrepreneur discussed the story of Mt. Gox with J Maurice, a Bitcoin Miner, on his podcast ‘Untold Stories’.
According to Maurice and Shrem, Mt. GoX acquired almost “70-80% market share of all Bitcoin trading globally” which was quite a large share for one decentralized exchange to have. However, according to Shrem’s lens Mt. Gox was the “largest and most central company to the Bitcoin eco-system”. He also explained how in 2013-14, the largest Bitcoin exchange was an important factor for anyone trading Bitcoin.
However, Mt. Gox faced an unforeseen hindrance when 850k BTC went missing [or stolen] from Bitcoin circulation. According to the Wiz, the days before Mt. Gox shut were “really painful” as people couldn’t trust them anymore.
Shrem highlighted that there were two Bitcoin options available on the exchange at that point; one was the original Bitcoin [BTC] and other was Mt.Gox’s Bitcoin, which “were these fake Bitcoins that you could trade in Mt.Gox’s system”. This led to the formation of a secondary market buying Gox BTC, which was “essentially Bitcoin which couldn’t be removed from Mt.Gox before it imploded”.
However, Shrem claimed that even though Mt.Gox imploded, the market created its own token as debt, even as Bitfinex claimed to have created the first token as debt. Wiz noted that Josh Jones, a creditor at Mt.Gox, created a system to exchange this Mt.Gox BTC for real BTC. Wiz noted:
“Mt.Gox had this feature where you could internally transfer Bitcoins between Mt.Gox accounts and Josh Jones had created this system on top of that so that you can send your balance to his accounts and then that would be your os that will be your Bitcoin builder exchange balance, you would have Gox BTC at that time which you could trade for real BTC.”
The crypto users at the time could trade this Gox BTC for real BTC at a discounted rate and get out of the mess which was left behind following the hack.
The post Charlie Shrem claims Mt.Gox was the first to create ‘token as debt’, not Bitfinex appeared first on AMBCrypto.
Source: AMB Crypto

Cryptocurrency and Porn Industry: Why is it a perfect match?

In the 1980s, the internet was frequently used by three types of people: government officials, university scholars, and individuals seeking adult entertainment.
Keeping the mundane search history of officials and the scholars away, only one thing remains in the frame, which is the often frowned upon, yet highly sort after, the adult entertainment industry.
The adult entertainment business has seen massive growth over the years and its numbers speaks for themselves. In 2018, Pornhub, one of the biggest porn websites on the planet, ‘entertained’ individuals approximately 33.5 billion times via their webpage. That is around 13.7 million visits per day.
Source: XBIZ
An estimated number of 201,405 videos are watched, and porn websites around the world register 64,000 visitors/per minute in a day.
The data associated with the industry does not shy away from the revenue aspect either. According to a poll conducted by XBIZ, the porn industry generates a magnanimous revenue between $6 billion and $15 billion every year, in the US.
This is more revenue than the NBA, Hollywood, and Netflix. America’s intense porn obsession can be credited for fueling its economy and the adult entertainment industry clearly plays a major part in it.
CRYPTOCURRENCY AND PORN
The adult entertainment world is one of the few industries which prides itself on the reputation of being the front runners of early technological adoption. In 1977, when VHS tapes made its way into America and the rest of the world, it is believed that the porn industry played a massive role in ushering in its initial success in the 1980s.
However, the tryst between cryptocurrencies and the porn industry has been a tricky one. According to a research, conducted by the porn studio VogoV, by the end of 2018, around 470 adult video sites, 50 webcam platforms, and 35 sex shops worldwide had started accepting virtual currencies as a form of payment. The data on paper may echo a significant number, but when it is compared to the overall size of the ever-expanding adult industry, it is very minuscule.
The industry started to take massive strides with the adoption of cryptocurrency around early 2017, when the idea of crypto as a payment started gaining traction.
Source: Naughty America
In 2017, major sites like Naughty America and xHamster started accepting Bitcoin as a form of payment. Pornhub and some of its sister websites also started establishing partnerships with various cryptocurrencies such as Horizen [ formerly ZenCash ], Tron, and Verge.
CRYPTOCURRENCY AND ADULT INDUSTRY: WHY IS IT A PERFECT MATCH?
According to a poll by fightthenewdrug.com, Porn was actively viewed by the millennial of the current generation [between the age of 16 and 33]. A person of this age group mostly has an active social life and outgoing lifestyle. No one in this age group would like to disclose or talk about it with their partner that they were paying for pornography. It can come across embarrassing and usually uncomfortable most of the time. The adult entertainment industry is one such which can only be consumed in the privacy of your own space.
This is where both the parties meet at a common ground and present a great opportunity.
The anonymity offered by the virtual assets is a sigh of relief for the adults who do not want their private viewing habits on the internet to be a recorded statement on their credit cards. Hence, the idea or awkwardness of receiving unexpected emails from your favorite porn websites is completely taken out of the picture.
The payment platform associated with crypto also solves major issues which are associated with trust between the user and the website. The amount of fraudulent websites prevalent in the adult industry is massive and people are justifiably skeptical of entering their card details. The space for illicit scams is enormous and a slight pushback can allow hackers to access your bank account credentials. In simple terms, it is not safe!
Additionally, one of the major issues which often escape the eye is the difficulty suffered by adult performers. The number of adult performers around the world is assumed to more than a 100,000. That might not be significantly high, but in terms of paying them for their service, it is.
The issue arises as a lot of banks do not allow adult performers to open accounts in their name and use their services. A few years back, adult film stars were reportedly getting their bank accounts systematically closed by JP Morgan Chase for no reason other than their professional connection with the adult entertainment industry. Hence, most of the performers have to take payment in cash, which becomes a personal hassle for them as their security is in the limbo.
The cryptocurrency method of payment completely solves this problem as they can receive their payments directly to their digital wallet without the involvement of financial institutions.
MAJOR PARTNERSHIPS BETWEEN CRYPTOCURRENCIES AND PORN WEBSITES
Bitcoin, the first original cryptocurrency which started the whole crypto-saga, is the most popular and valuable crypto in the market. At the time of writing, Bitcoin held was closing in on 60% market dominance in the cryptocurrency market.
Source: Pornhub
However, when Pornhub introduced the option of cryptocurrency payment on their website, they overlooked Bitcoin and decided to form a partnership with the lesser known crypto known as Verge cryptocurrency.
Corey Price, the Vice President at Pornhub, stated that Verge was entirely anonymity-focused, which is why it was chosen over other virtual assets. Price added that Verge offered “convenience and security”, which in theory was an inaccurate statement considering the volatility of the crypto-market.
Moreover, if the functionality of Bitcoin and Verge were to be compared, Verge was more of a privacy token than Bitcoin. All the transactions taking place on the Bitcoin blockchain can be traced and eventually be linked to a person’s name, provided KYC rules have been implemented.
When using Verge, the anonymity is further solidified because of its unique Wrath Protocol. The protocol hides every part of the transaction from the blockchain, except the amount which was sent or received. The blockchain will not have a record of the purchase nor can it be traced back to an individual.
Moreover, Verge had a better performance track record as it could process 100 transactions per second, in comparison to Bitcoin’s seven transactions per second. Verge also boasted better speed as it was able to process a transaction every 30 seconds, whereas Bitcoin [BTC] required 10 minutes for executing a transaction.
Pornhub also had the option of crypto payments via Horizon [formerly known as ZenCash] and Tron. Pornhub’s choice can be identified from the reasons above.
Source: Twiter
Brazzers followed suit and listed the same tokens as options on their crypto payments platform a few days later.
However, Bitcoin did not entirely miss out on the adult industry. Mainstream porn website Naughty America listed Bitcoin [BTC] payments on their webpage alongside Litecoin [LTC]. Other lesser-known websites such as Chaturbate and Playboy Plus also included Bitcoin payments on their websites.
Source: CamSoda
Contrary to the selection above, CamSoda recently announced the integration of crypto-payments, including seven different coins such as Bitcoin [BTC] and Ethereum [ETH]. Hence, the general bias towards certain coins was not widely spread out.
The adoption of coins might vary from site to site, but it is still a win for the larger picture, which is the global adoption of cryptocurrencies.
CONCLUSION
The argument drawn for the late adoption of cryptocurrency in the porn industry is highly debatable. The speculated reason for the increased interest of the adult industry in cryptocurrencies can be attributed to the increasing popularity of virtual assets over the last half-decade.
The cryptocurrency market went through a major market surge back in 2015 and witnessed another significant one in 2017 which raised the valuation of the crypto-market to over 100$ billion in market capitalization. The community started exploring various platforms where virtual currencies could be implemented.
The adult industry might have been slow to get involved, but they were not ignorant to not tap into the industry. The progressive growth of the crypto with a huge user base online reassured the adult industry that the inclusion of crypto-payments would only improve their stocks and revenue in the years to come.
The post Cryptocurrency and Porn Industry: Why is it a perfect match? appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin’s [BTC] future: Prominent traders expect 30-40% correction in price, followed by a bull rally

CNBC’s Ran NeuNer spoke to a few prominent Bitcoin enthusiasts at the Consensus 2019 and explored how Bitcoin would perform in the upcoming weeks.
Tone Vays said that he was skeptical about the recent rally and that he needed a few confirmations to believe that the recent surge was the start of a bull run. He said:
“… I’m looking for correction between 33.3% to 40%… I’m still a little skeptical. I need to witness a pullback and a new swing high; I’m a big believer that the markets move with higher lows and higher highs. We are working at a higher high but we have not had a pullback.”
He further added that the pullback would be healthy if it was between 30-40% and that it would also be a good start to the bull run. If the pullback did not stop, it would make a new low where a lot of accumulation would occur. It would also signify strength and a possible start of the Bitcoin run, Vays added.
Peter Brandt said that the parabolic rally was underway as there were resistances at $6,600 and $6,800. He added:
“I really thought that we could go to $6,700, $6,8000 and hiccup at that level and possibly retest but we haven’t. So does that mean, we, at some point, go into congestion area and retest $5,700 and $6,000 level? Or do we go parabolic? “
In addition, he opined that Bitcoin wouldn’t go parabolic from here and that this parabolic move would make “dumb money chase it”. He also added that he had taken off light profits at the peak.
At press time, Bitcoin had surged by 10% over the day and was retesting the $8,000 level. However, the king coin has not broken through that range yet. Bitcoin, at press time, was priced at $7,970, with a market cap of $140 billion.
The post Bitcoin’s [BTC] future: Prominent traders expect 30-40% correction in price, followed by a bull rally appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $7,900 mark as LTC recoils

Bitcoin rallied past $8,000 last week and showed good resilience in maintaining its bullish momentum. Bitcoin was priced at $7,915.81 with a market cap of $140.18 billion and registered $23.46 billion in 24-hour trading volume.
Litecoin stood fifth in the list of top-10 cryptocurrencies with a market cap of $5.71 billion and $3.98 billion in 24-hour trading volume. The coin was priced at $92.46, at press time.
1-Day BTC
Source: TradingView
The one-day BTC chart showed that there was an uptrend from $4,008.79 to $8,195.17. The chart specified that the resistance lines stood at $7,307.15, $6,444.50 and $5,505.74 and there were two support lines at $3,755.01 and $3,171.51.
Moving Average Convergence Divergence [MACD] indicator pointed at a bullish crossover.
Parabolic SAR indicator displayed a bullish trend as the dotted markers were below the candles.
Relative Strength Indicator indicated a bullish trend as the market was in the overbought zone. However, a correction seemed to be in the offing.
1-Day LTC
Source: TradingView
The one-day chart of LTC showed two uptrends. The first was from $42.23 to $91.40 and the second was from $91.40 to $102.85. The resistance line stood at $102.52 and the supports were present at $60.58 and $32.06.
Bollinger Bands exhibited a high rate of volatility in the market.
The Awesome Oscillator indicated a bullish buying opportunity in the LTC market as the short-term momentum was greater than the long-term momentum.
Chaikin Money Flow chart was below the zero-line, indicating that money flowing out of the market.
Conclusion
Bitcoin and Litecoin seemed to be in a bullish market as forecast by the indicators.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $7,900 mark as LTC recoils appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] breaches $8k; gets ready for the bullish ride

The world’s largest cryptocurrency, Bitcoin [BTC] breached another immediate resistance at $8k and was valued at $8,084.49, at press time. BTC had been pumping for the past few weeks, pulling the coin from a slump and probably towards a new bull run. On May 19, the coin started rallying from $7252.58 and peaked at $8,102.
Source: Trading view
According to the trading view chart of BTC, it was being traded at $8,102. The market cap of the coin was noted to be $143.17 billion as the 24-hour trading volume reached $23.64 billion. In the past seven days, BTC pumped by 11.99% and it continued to rise by 10.64% in a day. The coin noted a growth of 1.56% in an hour.
BTC spiked by a staggering 12% over 10 hours taking the price of the coin from $7,252 to $8,155. The next resistance was marked at $8,300, after which $9k becomes an imminent target. In terms of trading volume, Bitcoin was highly traded on BitMEX exchange with VBT/USD pair and a volume of $4.22 billion was reported. The second place was noted by BW.com with BTC/USDT pair with a volume of $780 million. BitMart followed the exchanges as it noted a trading volume of $750 million with BTC/USDT pair.
As the demand for the coin rises in the crypto market, the searches on the Internet increased too. A report by Cryptoglobe noted that Google search for ‘Bitcoin’ as a keyword hit a high, yet again in 14 months. This surge was previously reported in February 2018 when the coin was trading between $8k and $11k.
The post Bitcoin [BTC] breaches $8k; gets ready for the bullish ride appeared first on AMBCrypto.
Source: AMB Crypto

Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, XRP, Stellar, Tezos, Binance

Bitcoin bulls have turned out to be more relentless than most traders would have predicted from its historic prices. Moreover, the fundamentals around Bitcoin [BTC] seem to be stronger than ever with the Bitcoin virus spreading to the east now. Mati Greenspan, the senior market analyst at eToro tweeted,
“BTC on the move again… Asian market certainly doing their bit today.”
This is coming after a huge pullback on 17th May 2019. A Bullish Marubuzo with was seen in the 0: 00-4: 00 Hours UTC on 19th May as the market broke above $8000 again. This the second time the market has attempted to break it after a huge correction.
BTC/USD 1-Day Chart on Bitstamp (TradingView)
The other four performing coins
Opening Price: $6968
Closing Price: $8109
The weekly gains: 16.3%
Weekly High/Low: $8390/$6178
Binance [BNB] Coin
Binance [BNB] coin was trading in the red in the last week’s update trading around $20. Nevertheless, the token started picking up value again as normal operations began at Binance Exchange after the hack. This week Binance also initiated the process of burning token from the Ethereum blockchain to process them on the native Binance Blockchain.
BNB/USD 1-Day Chart on TradingView
Opening Price: $20
Closing Price: $29.5
The weekly gains: 47.6%
Weekly High/Low: $32.2/$19.9
Stellar [XLM]
Stellar’s rise was higher than most coins during the week as it held gained 35% on a weekly scale. The Stellar validators were reportedly shut down for two hours on 15th May 2019. As Bitcoin continued to correct and rise, Stellar held it gains above 0.00001750 BTC.
XLM/USD 1-Day Chart on Bitfinex (TradingView)
Opening Price: $0.10
Closing Price: $0.14
The weekly gains: 40%
Weekly High/Low: $0.16/$0.117
Ethereum [ETH]
Ethereum has been the top performer in leading altcoin gains in terms of total market capitalization. The total market capitalization of Ethereum is above $25 billion. It still accounts for more than 10% of the total capitalization of cryptocurrency markets.
Also Read: Ripple’s XRP and Ethereum Fight for 2nd Place Behind Bitcoin In The Wake of a Bull Run
ETH/USD 1-Day Chat on Coinbase (TradingView)
Opening Price: $188
Closing Price: $259
The weekly gains: 38%
Weekly High/Low: $281/$185
Tezos [XTZ]
Tezos [XTZ] has been one of the best performing coins of the year. It has gained more than 100% before the bull run on Bitcoin began. The gain was influenced by the Coinbase allowing Tezos [XTZ] as the first coin which could be staked/forged on the Coinbase Custody platform.
It was on the rise again this week as the market seems to have broken bullish since the beginning of the month. It broke above $1.75 as it set sights on to $2.
XTZ/USD 1-Day Chart on Bitfinex (TradingView)
Opening Price: $1.24
Closing Price: $1.77
The weekly gains: 43.4%
Weekly High/Low: $1.833/$1.23
XRP, Dash, IOTA, and Cosmos [ATOM]
The almost all altcoins were in the green on a weekly scale. While the above-mentioned cryptocurrencies rose higher than the rest, XRP, Dash, IOTA, and Cosmo [ATOM] also registered more than 20% gains.
The gain in XRP was considerable as it broke above the $18 billion market capitalization. Moreover, the weekly rise is about 25%. The dominance of XRP over cryptocurrency market is about 7%. The rise of Dash, IOTA, and ATOM is 21%, 31% and 23$ respectively on a weekly scale.
XRP/USD 1-Day Chart on Bitstamp (TradingView)
*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $0.5 billion is 0.23%. Hence, for Analysis purpose we will only consider cryptocurrencies with a total market capitalization $0.5 billion or more. For future analysis, we’ll try to maintain 0.25% as a standard for the calculation.
**The data is taken at around 11: 00 Hours UTC on 19th May 2019. 
The post Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, XRP, Stellar, Tezos, Binance appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] Whale Alert: BTC worth over $38 million moved in two transactions

Bitcoin turned to the bulls once again on early May 19, exhibiting a rapid 7 percent hourly price gain, stoking the attention of several parties. One among them was the observant whales, which moved 5,000 BTCs in two separate transactions.
As reported by WhaleAlert, an online cryptocurrency-transaction tracker, a transaction of 3,000 BTC first, calculated at $23.68 million was the first movement. The transaction, as per the data aggregation website, occurred at 06:58:55 UTC on May 19.
The first transaction was between the addresses 1HL5rZWw5rGzFAB1mThEMxwazEBtWigs7B and 3LAT8J4ywCXSceAJuncaztoL3FH1tNtqEx. The hash of the transaction in question was b31df7d81f774bf2f9623c96ab9cebddc8a76844.
Minutes later, alarms rung once again with 2,000 Bitcoins worth over $15.78 million transferred from an unknown wallet to the controversy-riddled exchange, Bitfinex. According to Whale Alert, the same sender i.e. 1HL5rZWw5rGzFAB1mThEMxwazEBtWigs7B, like the above, was involved in this transaction as well.
According to Blockchain.com, the total input was $39.76 million, while the BTC transacted, based on the second transaction which involved Bitfinex was around $15.19 million. The tree chart from the same can be seen below:
Source: Blockchain.com
This movement comes at an opportunistic time for large profit-grabbers in the Bitcoin market, as May’s bullish swing turned their fortunes. In a chart by ProofofResearch, the Bitcoin whales capitalized on the massive 30 percent price incline of the top cryptocurrency since the beginning of the month.
However, the researcher added that the whales have since “exited” the market with their large profits.
Following last week’s pullback, the price of the top cryptocurrency has sparked once again, rising by mammoth proportions, albeit for a short stint, surging past $7,800 and then the $7,900 mark, and, at press time, Bitcoin was on the verge of breaking $8,000 for the second time in a week.
Bitcoin dropped below $8,000 and continued falling, but hovered about $7,000 following the pull-back, which many speculated was due to market correction, the post-Consensus bears and a significant transaction on Bitstamp. The Japanese cryptocurrency exchange, Bitstamp saw a 5,000 BTC sell order priced at $6,200, which, according to some, contributed to the pullback.
The post Bitcoin [BTC] Whale Alert: BTC worth over $38 million moved in two transactions appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Price Retests $8,000 Following 21.37% Drop – Is $11,000 Next?

Bitcoin has made a come back following three days of depressive price movements that led to a 21.37 percent drop.
The world’s leading cryptocurrency started Sunday while trending in positive territory. The asset’s rate against the US dollar surged by circa 11 percent to settle a session high at $8,041 on Coinbase exchange. The move brought approximately $12 billion to the bitcoin market, with maximum influx coming from Tether’s stablecoin USDT. Nonetheless, the uptrend slowed down ahead of the European session, hinting that a downside correction might still be underway.
Bitcoin Price Revives Bullish Sentiment upon Retesting $8,000 | Image Credits: TradingView.com
Next Upside Target between $9,200-$11,000
Josh Rager, a prominent cryptocurrency analyst, saw the bitcoin price breaking a critical resistance level. The US-based market expert said the asset is looking to close above $8,216 in near-term to validate an extended bullish bias. He predicted that bitcoin would establish an upside target of $9,600 or more.
“Bitcoin certainly looks to be pumping, now over previous resistance,” said Rager. “Price is near $8000 & looks to be heading toward the $8200 1D resistance (might consolidate prior). A close above $8200 on the daily/weekly would be very bullish and would target $9,600 [or beyond].”

$BTC – 1 Hour Chart
Bitcoin certainly looks to be pumping, now over previous resistance
Price is near $8000 & looks to be heading toward the $8200 1D resistance (might consolidate prior)
A close above $8200 on the daily/weekly would be very bullish and would target $9600+ pic.twitter.com/8S1qmjR56e
— Josh Rager (@Josh_Rager) May 19, 2019

Parabolic Trav, a cryptocurrency analyst, known for his graphic market narratives, too noted a strong bullish bias in the bitcoin market. The market expert treated bitcoin’s 2015 parabolic move as a guide for the asset’s ongoing price movements.
“There’s lots of play in the curvature, but this push we’ve had was earlier in the bottoming process than 2015 and pushed it up faster,” said Parabolic Trav.

Using 2015 channel formation as guide for 2019. Something similar? There's lots of play in the curvature, but this push we've had was earlier in the bottoming process than 2015 and pushes it up faster. pic.twitter.com/LTqyQw5wja
— ParabolicTrav (@parabolictrav) May 17, 2019

Crypto investment guru DonAlt predicted a similar future for bitcoin. The analyst noted that the asset was looking to close above a substantial resistance area, as shown in the chart below. Nevertheless, he said the bitcoin market would remain bullish as long as it holds above $6,400, a level with strong credentials as resistance during bitcoin’s uptrend sentiment.
Bitcoin Looking to Extend Bull Bias Towards $10K | Source: DonAlt
DonAlt predicted a bitcoin price rally beyond $9,200 (as far as $11,000, according to the chart above), which also marked as the next potential pullback for the asset. More likely, the analyst proposed upside targets that had earlier served as crucial resistance areas in the market. The ‘Major Resistance’ horizontal in the chart above signified its potential to cap bitcoin’s bullish attempts. The $11,000 price target had also capped similar market movements.
“As long as 6400 holds, I’ll be a better perma-bull than Parabolic Trav ever was. This still looks gorgeous to me, and I won’t touch the red button for quite a while,” said DonAlt.
Below $6,400
Event of bitcoin closing below $6,400 could push the price as low as $5,715, Rager said about the weekly support level. Nevertheless, the psychological support at $6,000 would keep providing a strong accumulation case, as seen between June 2018 and November 2018 price action.
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Source: New feedNewsBTC.com

Bitcoin [BTC]: Whales collect significant profits since beginning of BTC bull run

Whales and bulls may not live in close proximity in the outside world, but in the cryptocurrency realm, they are the best of friends. Ever since the current Bitcoin [BTC] bull run surfaced, the whales have been buoyantly active and have amassed huge profits.
Charted out by CryptoMedication, better known as ProofofResearch on Twitter, the ZeroNonCense researcher laid out the lucrative gains of the whales since the Bitcoin ascendance began. Despite the large margins, he stated that he was “confident” in the research, but maintained that the “whales have already exited” after cashing in their quick, but large gains.
Bitcoin’s bulls rampaged the market in early April, when the king coin saw its highest daily gain in over a day on April 2, recording over 15 percent positive price swing. However, due to the lack of a concrete source, the pump was seen as a one-off, hence the bullish swings of May painted a more telling tale of the bull-run.
Source: Trading View
May began with Bitcoin above $5,000, breaking $6,000 on May 9 and $7,000 three days later. With $8,000 proving to be a test for the top cryptocurrency, breaking the ceiling and falling back down, triggering a pull-back, the current positive movements poise BTC for another $8,000 incline.
Given the rapid May rise, with the press time price 30 percent over the price at the beginning of the month, CryptoMedication, laid out the bottom at $5,462. In a matter of weeks, the whales managed to amass a 31.89 percent profit, if they managed to sell the top coin at $8,020.62, the price prior to the pullback last week.
On the flipside, the ceiling placed by CryptoMedication is $9,034, which many in the industry expected Bitcoin to surge past given the incline on which it was trading. In comparison to the aforementioned price, $8,020 is around 12.64 percent below the same.
Additionally, the Relative Strength Index [RSI] indicates that after a dip from the “overbought” zone above 70, the index is looking to move into the same once again, following the May 19 bullish action.
The post Bitcoin [BTC]: Whales collect significant profits since beginning of BTC bull run appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin (BTC) Price Weekly Prediction: Indicators Suggest Rally To $9,000

There was a strong buying interest for bitcoin near the $6,800 support area against the US Dollar.
The price started a fresh increase and broke the $7,000 and $7,500 resistance levels.
There was a break above a major contracting triangle with resistance near $7,300 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair is eyeing a strong rise and it could trade above $8,500 and $8,800 in the near term.

Bitcoin price is up more than 10% after a strong downside correction against the US Dollar. BTC is now eying further upsides and it could even test the $9,000 resistance area.
Bitcoin Price Weekly Analysis (BTC)
This past week, bitcoin price rallied significantly above the $7,000 resistance against the US Dollar. The BTC/USD pair broke many barriers near $7,000, $7,200 and $7,800. The pair even surged above the $8,000 level and traded to a new 219 high near the $8,360 level. Later, there was a sharp downside correction below the $8,000 support, but the price stayed well above the 100 simple moving average (4-hours). It broke the $7,200 support area, but found a strong buying interest near the $6,650 and $6,800 levels.
A swing low was formed at $6,645 and the price recently recovered nicely. It climbed sharply above the $7,000 and $7,200 resistance levels. Moreover, there was a break above the 50% Fib retracement level of the downside correction from the $8,362 high to $6,645 low. More importantly, there was a break above a major contracting triangle with resistance near $7,300 on the 4-hours chart of the BTC/USD pair. The pair is now trading above the $7,700 resistance and the 61.8% Fib retracement level of the downside correction from the $8,362 high to $6,645 low.
These all are positive signs and it seems like the price may continue to surge above the $8,000 barrier. The next key resistance above $8,000 is near the $8,350 level. If the bulls gains pace above $8,362 swing high, it will most likely open the doors for a sharp rally towards the $8,600 and $8,800 resistance levels.

Looking at the chart, bitcoin price rebounded nicely after a strong decline towards $6,650. It is now up more than 10% and it seems like it could continue higher towards $8,200 and $8,500. The main target for the bulls in the coming sessions could be $8,800 or even $9,000. The key supports on the downside are near $7,500, $7,200 and $7,000.
Technical indicators
4 hours MACD – The MACD for BTC/USD is gaining pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is back above 50 and it could continue towards 70.
Major Support Level – $7,200
Major Resistance Level – $8,350
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Source: New feedNewsBTC.com