43% Rise in Bitcoin to USDT Volumes Signal That Investors Are Coming Back: CryptoCompare report

Like every month, CryptoCompare released its Exchange Review report which aims to capture the key developments within the cryptocurrency exchange market. But this time the report was much awaited as the report captured the month of March 2019 which was a stepping month. And like always the report handsome startling revelations.
Total Spot Volumes increased by 47.5% as the majority of the volumes came from Malta
Exchanges are a critical part of the crypto ecosystem as they drive the trades and determine the prices of any coin. Hence any analysis around them gives out a somewhat accurate picture as to how the crypto industry is shaping up. This is where the CryptoCompare report on exchanges becomes really important as it provides a perspective into various aspects of trading and investing.
The recent report, that covered the month of March 2019, gives a great insight into the built up that led to the rise of crypto markets in the first week of April 2019. One standout point was that “BTC trading into USDT totaled 8.9 million BTC in March, an increase of 43% since the previous month. In March, it represented 81.7% of total BTC volume (traded into fiat or stablecoin), while last month the pair represented 70%. “ which signified that USDT still dominated the most popular stablecoin and a lot of investors managed volatility using USDT. This rise here also meant that a lot of investors were switching their holdings between stablecoin and BTC and would inch towards Bitcoin as they found opportunities.
The report also covered some other points which gave a glimpse of how things were shaping up. These included

Malta-registered exchanges represented the majority (56%) of trading volume, followed by those legally registered in Hong Kong and South Korea which were at 54% and 21 %
Exchanges that charge taker fees represented 84% of total exchange volume in March, while those that implement trans-fee mining (TFM) represented 14%.
OKEx traded the highest average daily derivatives volume in March at a figure of USD 1.5 billion which included both futures and swaps. This was followed by Bitflyer Lighting at 1.14 billion USD and BitMEX at 645 million
Regulated bitcoin derivatives product volumes are still dominated by CME. This was followed by Grayscale’s GBTC product traded on the OTC (over the counter) markets, and CBOE’s bitcoin futures.
March also saw a sharp increase in volume from crypto to crypto exchanges. Crypto to crypto exchanges saw a rise 70% in trading volumes while those offered fiat pairs decreased 8%

One other point that clearly showed investors were returning to cryptos was that s, total exchange web traffic increased 32% in March, in conjunction with a total spot volume increase of 47.5%.
These figures give a fair bit of indication that why the prices of cryptocurrencies shot up in early April. If these trends continue on can expect the prices of most coin go further up.
Will we see a further rise in crypto prices based on the exchange activity that was put forward by crypto compare? Do let us know your views on the same.
The post 43% Rise in Bitcoin to USDT Volumes Signal That Investors Are Coming Back: CryptoCompare report appeared first on Coingape.
Source: CoinGape

As the Crypto Markets Enter a Slumber, Bitcoin May be Gearing up For a Surge Back To 5,400

Despite witnessing some exciting price action over the past several weeks, the crypto markets are currently taking a slight breather as Bitcoin tepidly advances into the $5,200 region.
Although the recent upwards momentum appears to have fizzled out, analysts are now expecting Bitcoin to make another upwards push back up towards its strong resistance level around $5,400 – which could open the gates for significantly further gains, assuming that BTC is able to break above this level.
Bitcoin Finds Stability Above $5,200 As Crypto Markets Climb Slightly
 At the time of writing, Bitcoin is trading up 2.4% at its current price of $5,230 and is up slightly from its weekly lows of roughly $4,950. The recent price climb appears to be part of a larger consolidation pattern, as BTC has now been stuck between roughly $5,000 and $5,400 since early-April.
$5,400 was first established as a level of resistance one-week ago when Bitcoin surged to this price level before incurring a significant amount of selling pressure that sent it spiraling downwards to approximately $5,000 – a price level at which it found support.
Since then, BTC and the entire crypto markets have climbed slightly, but they have failed to gain any significant levels of upwards momentum, leading them to enter what one analyst describes as a “slumber.”
“Though we do seem to be in some sort of slumber, there’s really no telling how long this will last. It could take months to see another breakout, or it could happen between now and the time you read this message,” Mati Greenspan, the senior market analyst at eToro, said in a recent email, also pointing to declining trading volume the markets are experiencing.
Chonis Trading, another popular cryptocurrency analyst, also spoke about Bitcoin’s current price action in a recent tweet, noting that BTC’s EMA12 has been holding as a support level.
“$BTC – daily candle continues to close above EMA12 support on notable declining #bitcoin volume,” he noted.

$BTC – daily candle continues to close above EMA12 support on notable declining #bitcoin volume… pic.twitter.com/Wnz5QLScGl
— Chonis Trading… (@BigChonis) April 17, 2019

Analyst: Bitcoin May Soon Surge To $5,400… Again…
Despite the current lull in the crypto markets, analysts do believe that Bitcoin may be gearing up for another upwards swing.
UB, another popular cryptocurrency analyst on Twitter, explained where he sees Bitcoin heading next, noting that its ability to treat $5,182 as a level of support is positive, and could lead it to climb back into the $5,400 region.
“$BTC – As Long as Red ($5182) continues to act as support, a move up to Blue seems likely. PA shows a long setup but a few other systems I use on the side show a short setup. One of which is a strong sell $5202. Bullish argument invalid if the Range High flips into Resistance,” he explained in a recent tweet.

$BTC – As Long as Red ($5182) continues to act as support, a move up to Blue seems likely.
PA shows a long setup but a few other systems I use on the side show a short setup. One of which is a strong sell $5202.
Bullish argument invalid if the Range High flips into Resistance pic.twitter.com/qS7TWjs3tI
— UB (@CryptoUB) April 17, 2019

Assuming that the markets truly have found a long-term bottom that is currently set at their late-2018 lows, it is highly likely that 2019 will prove to be a very positive year for Bitcoin and the crypto markets.
Featured image from Shutterstock.
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Bitcoin (BTC) Price Analysis: Bulls Outperform Themselves – BTC/USD In The Green

Bitcoin reacted to a double-bottom pattern form around $4,950.
Bitcoin resumed the uptrend into a positive area past $5,160.

The session on Tuesday saw Bitcoin refresh the lows around $4,950. The retracement was necessary as Bitcoin encountered support congestion and overwhelming buying interest leading to a reversal. The price formed a double-bottom pattern close to $4,950. The pattern is usually interpreted as a positive sign and in this case, reaction to the pattern sent BTC/USD above $5,100 resistance as well as the 100 simple moving average (SMA) signaling a strong bullish move.  A break occurred above the 50% Fibonacci retracement level between the last swing high of $5,270.02 and a drop to $4,951.18.
Significantly, the visible bearish trendline shown yesterday did not hold back the buyers who breached the resistance at $5,097.36. This incredible move attracted more buying entries leading to another break above the resistance area at $5,120.00 – $5,160.00 (previously broken support). This paved the way for further gains that pulled Bitcoin above $5,200 as well as $5,250. A weekly high from at $5,270 before gain consolidation slightly above $5,200 commenced.
Bitcoin Price Analysis chart source: TradingView
Bitcoin is initially supported at $5,200 (current pivotal level). This means that a swing in either direction of this level could result in either considerable gains towards $5,400 or considerable gains that could refresh the support at $5,100 for the second time this week. Other support areas to look out for in the short-term include the 61.8% Fib level, $5,120 – $5,160 (main support) 23.6% Fib level (yesterday’s hurdle), the 100 SMA 1-hour, $5,000 and $4,950.
Also Read: Binance Coin (BNB) Price Prediction Today: Overwhelmingly Positive Levels – Eyeing $21.00
A broader look at the chart shows Bitcoin resumed the uptrend into a positive area past $5,160. It is likely that a retracement will occur. However, we can expect the bulls to strongly protect $5,120 – $5,160 support area. Moreover, $5,100 is also in a position to offer support. The upside is limited at $5,270 while further correction could test $5,400 and reignite gains towards $5,400.
Bitcoin Key Technical Indicators
MACD 1-hour: +21.56 (sits comfortably in the positive zone).
RSI 1-hour: 53.1946 after correction from levels above 60.00
Primary support area: $5,120 – $5,160
Critical resistance areas: $5,270, $5,300 and $5,400.
The post Bitcoin (BTC) Price Analysis: Bulls Outperform Themselves – BTC/USD In The Green appeared first on Coingape.
Source: CoinGape

Rakuten’s New Cryptocurrency Exchange Opens Its Doors to First Clients

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Rakuten’s New Cryptocurrency Exchange Opens Its Doors to First Clients
Rakuten has announced the start of registration for its crypto trading service Rakuten Wallet that will be launched this summer.
Rakuten’s New Cryptocurrency Exchange Opens Its Doors to First Clients

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Source: CoinSpeaker

eToro Launches eToroX Exchange and 8 Custom Stablecoins

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eToro Launches eToroX Exchange and 8 Custom Stablecoins
Israeli-based social trading platform eToro has launched eToroX, a fully regulated crypto exchange. eToroX debuts with half-a-dozen top cryptocurrencies and eight fiat currency-backed stablecoins, the latter of which are now open-source.
eToro Launches eToroX Exchange and 8 Custom Stablecoins

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Source: CoinSpeaker

Is John McAfee among crypto adherents who knows Satoshi’s true identity?

John McAfee, the cyber-security genius, assured that Craig Wright was not Satoshi Nakamoto and in a shocking turn of events mentioned that there were a few people who knew the true identity of Satoshi Nakamoto.
John McAfee’s tweet read:
“Enough is enough! There at least a dozen crypto adherents who know the true identity of Satoshi. I can assure you, 100%, it is NOT Craig Wright. This absurd claim of Craig’s is incomprehensible. Mr wright: Have you no shame? Seriously sir! Have you no shame?”
Craig Wright has been raining lawsuits on Bitcoin enthusiasts who allegedly ridiculed him and claimed that he was not Satoshi Nakamoto. The string of lawsuits that began with Hodlonaut (and still continuing) brought the crypto-space together. Moreover, this also led CZ, the CEO of Binance, to delist Bitcoin SV, a fork of Bitcoin Cash, supported by Calvin Ayre and Craig Wright.
While some prominent people in the community “trolled” the incidents that occurred, others in the crypto-sphere gave their opinions on – if Craig Wright was Satoshi Nakamoto or not. McAfee was one among the latter, as he mentioned that there “at least a dozen crypto adherents” who knew Satoshi Nakamoto’s identity.
In addition, McAfee assured that Craig Wright wasn’t Satoshi Nakamoto. He said that he was “100% sure” about this matter, which leads to another question: Is John McAfee be one among the “dozen crypto adherents” who knows the identity of Satoshi Nakamoto?
Curious Twitter users asked if actually knew the identity and asked him to divulge the information. A Twitter user @bobchain_crypto tweeted:
“Do you know? Tell us!!!”
McAfee replied:
“Please. Get real. Satoshi has remained anonymous all these years and you expect someone to just tell you??? Surely that was not a serious statement.”
The post Is John McAfee among crypto adherents who knows Satoshi’s true identity? appeared first on AMBCrypto.
Source: AMB Crypto

WCX Surpasses $5 Billion in Trading Volume, Plans Expansion

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WCX Surpasses $5 Billion in Trading Volume, Plans Expansion
Derivatives trading platform WCX has attracted traders from 170 countries since launching late last year, with notional trading volume exceeding $5 billion in the wake of Bitcoin’s recent jaw-dropping price rally.
WCX Surpasses $5 Billion in Trading Volume, Plans Expansion

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Source: CoinSpeaker

Bitcoin (BTC) Trend Overwhelmingly Positive As Bulls Eye $5,400

Bitcoin price formed a double bottom pattern near $4,940 and climbed higher against the US Dollar.
Bulls pushed the price above the key $5,150 and $5,160 resistance levels.
Yesterday’s highlighted major bearish trend line was breached at $5,110 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is currently trading in a positive zone and it could continue to rise towards $5,350 or $5,400.

Bitcoin price rebounded sharply above $5,200 against the US Dollar. BTC is back in a decent uptrend and it seems like it could climb towards the key $5,400 resistance area.
Bitcoin Price Analysis
Yesterday, bitcoin price revisited the $4,940 support area against the US Dollar. The BTC/USD pair found a strong buying interest near $4,940 and later started a decent upward move. It seems like the price formed a double bottom pattern near $4,940, which is a positive sign. It broke the $5,100 resistance and the 100 hourly simple moving average to start a solid upward move. Besides, there was a break above the 50% Fib retracement level of the last drop from the $5,186 high to $4,943 low.
More importantly, yesterday’s highlighted major bearish trend line was breached at $5,110 on the hourly chart of the BTC/USD pair. Finally, there was a break above the key $5,150-5,160 resistance area (the previous support). It opened the doors for more gains and the price traded above $5,200 and $5,250. A new weekly high was formed at $5,275 and the price is currently consolidating gains. An initial support is near $5,200 and the 23.6% Fib retracement level of the recent wave from the $4,943 low to $5,275 high.
However, the main support is near the $5,150-5,160 area (the previous resistance). Below $5,150, the price could test the $5,100 support area and the 100 hourly simple moving average. The 50% Fib retracement level of the recent wave from the $4,943 low to $5,275 high is also near the $5,109 level. Therefore, dips from the current levels remain well supported near $5,160 and $5,100.

Looking at the chart, bitcoin price clearly jumped back in a positive zone above $5,160. In the short term, there could be a downside correction, but the bulls are likely to defend $5,160 or $5,100. On the upside, an initial resistance is near the $5,275 level, above which the price might test $5,300. Any further gains is likely to set the pace for a push towards the $5,400 level.
Technical indicators:
Hourly MACD – The MACD is placed nicely in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD jumped above the 60 level and it is currently correcting lower.
Major Support Levels – $5,160 followed by $5,100.
Major Resistance Levels – $5,275, $5,300 and $5,400.
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Crypto Market Primed For Lift-Off: Bitcoin Cash, Litecoin (LTC), TRX, ADA Analysis

The total crypto market cap stayed above the key $160.0B support and climbed towards $170.0B.
Litecoin (LTC) price recovered recently and moved above the $80 resistance.
Bitcoin cash price extended gains and it could move higher towards the $320 level.
Tron (TRX) price is currently consolidating above the key $0.0260 support area.
Cardano (ADA) price must break the $0.0850 resistance to start a decent upward move.

The crypto market cap is up more than $4 billion, with positive moves in bitcoin (BTC) and Ethereum (ETH). Ripple, litecoin (LTC), bitcoin cash, TRX, XLM and ADA are likely to extend gains.
Bitcoin Cash Price Analysis
Bitcoin cash price started a strong upward move after BSV’s nasty drop against the US Dollar. The BCH/USD pair broke the $300 resistance level to move into a positive zone. The price gained traction and it recently moved above the $310 resistance area.
If the price continues to move higher, it could even surpass the $320 resistance level. On the other hand, if there is a downside correction, the price may perhaps test the $305 support area.
Litecoin (LTC), Tron (TRX) and Cardano (ADA) Price Analysis
Litecoin price traded close to the $75 support area and recently rebounded above $78. LTC even broke the $80 resistance and it is currently trading in a positive zone. On the upside, an immediate resistance is at $82, above which the price is likely to rise towards the $85 resistance area.
Tron price remained under pressure earlier this week and traded below the $0.0272 support. TRX price traded close to the $0.0260 support level and it is currently consolidating. On the upside, a break above $0.0270 and $0.0272 is must for a decent upward move.
Cardano price recovered above the $0.0800 resistance level. ADA price is currently trading above the $0.0820 level, with many resistances near the $0.0840 and $0.0850 levels. On the downside, the main support is at $0.0800, below which the price could test $0.0780.

Looking at the total cryptocurrency market cap 4-hours chart, the $158.0 and $160.0B support levels proved significant. The market cap stayed above the $160.0B support and a major bullish trend line. It recovered above the $165.0B level and tested the main resistance near $170.0B and the 50% Fib retracement level of the last decline from the $179.9B high to $158.0B low. On the downside, the main supports are $165.0B and $164.0B. Below the trend line, the market cap could revisit the $160.0B support. On the upside, a clear break above the $170.0B resistance is likely to open the doors for more gains in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, XMR, XLM and other altcoins in the near term.
The post Crypto Market Primed For Lift-Off: Bitcoin Cash, Litecoin (LTC), TRX, ADA Analysis appeared first on NewsBTC.
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Bitcoin [BTC] Price Analysis: Bitcoin to Re-test $5546 Level One Final Time?

Bitcoin made another positive move on the daily chart with around $200 rise in price. The price of Bitcoin [BTC] at 5: 00 hours UTC on 17th April is $5252. It is trading 3.29% higher on a daily scale.
The bears and the bulls are caught between the tussle of an impending bull cycle after more than a year-long bear movement and bottom finding in prices. However, the technical analysis still suggests weakness still persists.
‘Evening Star’ Formation on Two Time Periods
The evening star is a multiple candlesticks pattern developed over three trading periods. The formation of an evening star during bullish move signifies trend reversal towards the bears. An Evening star is being formed both on the daily and weekly scale on the BTC/USD chart.
On a daily scale, if Bitcoin closes near its opening at $5201, indecision in the market can be suggested on a daily scale as well. Hence, end ending of today and price action tomorrow will be crucial for the formation of the multiple candle-stick patterns including the evening star. 
The 200-Day Moving Average is looking to converge with the 50-Day Moving average which might signal a trend reversal. The Relative Strength Index (RSI) on the daily scale is squirting near the over-bought region at 70. However, it seems to have corrected by more than 21 points since its surprise bull run on 2nd April.
BTC/USD 1-Day chart on Coinbase (TradingView)
MACD difference on the daily scale is about -10 between 26 and 12-Day periods, signaling indecision as the cross over is of the periods is temporarily held.
MACD on the daily chart on Bitcoin
It also seems to be forming an evening star on the weekly scale as the price was followed by a Doji, where the closing of the week was near the opening. Hence, the two out of three candle-sticks has been confirmed.
BTC/USD 7-Day chart on Coinbase (TradingView)
The RSI on the weekly scale is 58 which is poised between over-bought and over-sold region. However, the RSI was this high during the second week of 2018 when the price of Bitcoin was above $11,000. The price seems to be consolidating between the 200-Day and 50-Day moving average.
Furthermore, the 50-Day moving average line can act as a big resistance which Bitcoin [BTC] might attempt to break in the near future. Hence, while bearish movements are on the card according to macro signals Bitcoin still might look to re-test the $5546 level.
Do you agree with the analysis? Please share your analysis with us. 
The post Bitcoin [BTC] Price Analysis: Bitcoin to Re-test $5546 Level One Final Time? appeared first on Coingape.
Source: CoinGape

Is the Bitcoin Rally Now in Jeopardy? Why Traders Are Aiming $4,600

The large upwards momentum that Bitcoin incurred over the past couple of weeks appears to have petered out as BTC has failed to advance past $5,400 since surging from lows of roughly $4,000 last month.
Despite the dwindling momentum, the rally that brought the enduring “Crypto Winter” to an end may not be over yet, as analysts believe that Bitcoin may be able to surge well into the $6,000 region in the near future as long as it is able to advance higher within the $5,000 region.
Bitcoin (BTC) Advances Past $5,200 
At the time of writing Bitcoin is trading up 2.4% at its current price of $5,220, up from its 24-hour lows of $5,030.
Early yesterday, Bitcoin incurred relatively large selling pressure that pushed its price from nearly $5,200 to nearly $5,000, which appeared to put Bitcoin’s position within the $5,000 region in jeopardy as the cryptocurrency’s bears garnered growing strength.
Despite this, BTC has held firmly above $5,000 – which has since turned into a level of support – and now appears to be forming a fresh trading range between $5,000 and $5,400.
The Cryptomist, a popular cryptocurrency analyst on Twitter, spoke about Bitcoin’s current strength from a technical perspective, noting that she is closely watching the RSI for greater insight into where BTC is going next.
“$BTC The .236 on the fib was rejection as mentioned yesterday! The next step is for the candle to follow this break. Once this does, I am sure the RSI support that needs to break will. We then can explore if the bottom can be found,” she explained in a recent tweet.

$BTC
The .236 on the fib was rejection as mentioned yesterday! The next step is for the candle to follow this break.Once this does, I am sure the RSI support that needs to break will. We then can explore if the bottom can be found pic.twitter.com/fHG3bSFb6x
— The Cryptomist (@TheCryptomist) April 16, 2019

Analysts Waiting for BTC to Pullback Towards $4,600 Before Entering New Positions
Because the recent slowdown of the crypto market’s upwards surge has left many investors and analysts keen on discovering where the markets are heading next, many analysts are advocating for investors to slow down and wait for a further pullback before entering fresh long positions.
Luke Martin, another popular cryptocurrency analyst on Twitter, explained in a recent tweet that he sees the $4,600 to $4,800 region as an “attractive” level to enter fresh positions, but also noted that Bitcoin may be able to surge past $6,000 if it can move into the mid-$5,000 region in the near-future.
“After an exciting start to April for $BTC, price has stalled right around 5k. If price can close above 5600 I would expect 6k to be reached quickly. I believe the pullback area of 4600-4800 is a more attractive buy than the current level. Move slow. Wait for your play,” he explained.

After an exciting start to April for $BTC, price has stalled right around 5k.
– If price can close above 5600 I would expect 6k to be reached quickly– I believe the pullback area of 4600-4800 is a more attractive buy than the current level
Move slow. Wait for your play. pic.twitter.com/GaymZU2FRf
— Luke Martin (@VentureCoinist) April 16, 2019

As the week continues on and as Bitcoin further establishes fresh trading ranges, investors will discover whether or not the recent upwards surge is simply a temporary occurrence, or if it is a lasting movement that will help lead Bitcoin to surge significantly higher in the near-future.
Featured image from Shutterstock.
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eToroX Launches Crypto Exchange Including Suite of Unique Stablecoins

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eToroX Launches Crypto Exchange Including Suite of Unique Stablecoins
eToroX announced the launch of its crypto exchange.
eToroX Launches Crypto Exchange Including Suite of Unique Stablecoins

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Source: CoinSpeaker

Coincheck Adds XRP and Ethereum to Its OTC Trading Desk

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Coincheck Adds XRP and Ethereum to Its OTC Trading Desk
Coincheck, a Japanese cryptocurrency exchange has launched its Over-the-counter (OTC) trading desk wherein the platform is debuting XRP and ETH as the first altcoin listing.
Coincheck Adds XRP and Ethereum to Its OTC Trading Desk

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Source: CoinSpeaker