Crypto News | EOS Surges and Ripple Exec Not Phased by Bull Market

In today’s edition of crypto news, we’ll cover why EOS is surging and the details behind why a Ripple executive isn’t phased by the current crypto bear market. EOS Surges as Other Coins Fall EOS is currently leading the top 40 cryptocurrencies for total market gains this weekend. The world’s seventh-largest cryptocurrency project has received a wave of criticism as of late for its lack of decentralization. This weekend, EOS jumped up more than 16%. At this time, it remains unclear why the coin surged so much. Coinbase is exploring the…

Bull Reversal? Bitcoin Sees Biggest Single-Day Price Gain Since April

Bitcoin (BTC) is teasing a short-term bullish reversal, having just recorded its biggest single-day gain in seven months. Prices closed yesterday (UTC) at $4,257, a 24-hour increase of 11.43 percent and the highest daily gain since April 12, according to CoinMarketCap. Back then, the cryptocurrency was trading above $6,900, 38 percent higher than the current price of $4,345. Interestingly, the 13 percent price gain witnessed that day had been preceded by a 45 percent drop and a minor bout of consolidation. More importantly, the big bullish move of April 12…

Bitcoin Teases Bull Move After Defense of Key Price Support

Bitcoin could be in for a recovery rally, having defended a key support level over the weekend. The leading cryptocurrency has been looking bearish over the last week. It suffered an ascending channel breakdown on Nov. 7, suggesting a temporary top had been created at $6,540, while the moving averages rolled over in favor of the bears a day later. As a result, BTC looked likely to drop below the support of the trendline connecting the Oct. 11 and Oct. 31 lows, and move toward $6,200 over the weekend. Instead,…

This Bitcoin Price Chart May Give Early Warning of Next Bull Reversal

That bitcoin (BTC) has likely found a bottom around $6,000 is now generally accepted, so the challenge for investors and traders is to spot the early signs of a long-awaited bullish reversal. Basic technical theory suggests that a bearish-to-bullish trend change is confirmed after the price invalidates a “lower highs” pattern – a series of descending peaks. As such, bitcoin needs to rise above the September high of $7,400 to confirm a major bullish breakout. That would mean the number one cryptocurrency by market cap needs to rally close to…

Bitcoin Price Eyes Move to $6.8K After Bull Breakout

Bitcoin could be about to make a move towards $6,800, having witnessed a bullish breakout yesterday. The leading cryptocurrency, which had been in a narrowing price range, moved upwards to close at $6,423 yesterday, confirming an upside breakout of the symmetrical triangle pattern. With the move, the bulls look to have come out victorious in a months-long tug-of-war with the bears. However, BTC is struggling to find acceptance above the immediate resistance of the 50-day exponential moving average (EMA), currently at $6,450. The EMA hurdle might be crossed in a…

Bitcoin Bull Tom Lee ‘Pleasantly Surprised’ by Drop in Crypto Volatility

Twitter Facebook Over the past several weeks, the bitcoin price has been uncharacteristically stable, even as equities have lost their footing and the global stock market has flirted with corrective territory. Tom Lee, the founder of Fundstrat Global Advisors and one of Wall Street’s most well-known bitcoin bulls, said that he was pleasantly surprised by the drop in crypto volatility, particularly when juxtaposed with the stock market’s recent swings. He told CNBC: “It’s surprising given how small bitcoin is in terms of market cap. The total crypto market cap is…

BTC/USD Forming Doji in Bull Trap

Bitcoin remains motionless as the price enter yet another day of anxious stability. The Bitcoin-to-dollar exchange rate is extending its sideways consolidation trend. The spike seen at the beginning of this week – mostly because of the Tether crash – is fading aptly in the absence of adequate bullish sentiment, halted near circa 6550-fiat. The push lately brought the pair back towards 6400-fiat where market found a decent bull sentiment. Since then, the price is merely fluctuating inside an almost $150-range. There is still some bullish fundamentals that could fuel…

BTC/USD in Bull Trap, Again

The Bitcoin-to-dollar exchange rate consolidated sideways as an extension to its intraday stable action. The pair seems to have found a decent support above 6400-fiat, but an equally stubborn resistance near 6530-fiat is holding its gains. Currently, BTC/USD is trading at 6439-fiat, down 0.54 percent from the previous day’s close. On the fundamental front, Fidelity, a multinational financial service with a Wall Street status, has revealed its plan to commit its Bitcoin trading plans for hedge funds. The event attests to institutional investors’ growing interest in adding digital currencies to…

Next Bitcoin Bull Run Will See Crypto Market Rise ‘10x’: Pantera CIO

The co-chief investment officer of one the cryptocurrency industry’s largest investment firms said that he expects the next bitcoin bull run to carry the cryptocurrency market cap 1,000 percent above its current valuation. Pantera Capital’s Joey Krug made this prediction during an interview with Bloomberg, forecasting that the next upswing could propel the cryptocurrency market cap to more than $2 trillion. “If you look at that next bull run, I think the crypto space overall could hit 10x from here.” Noting that in previous market cycles the news that major…

Wait for Clear Bull Trend before Buying More Cryptocurrency

Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now. Writing in a recent note to clients, Fundstrat technical strategist Robert Sluymer said that investors seeking to increase their bitcoin holdings should wait for the market to make a clear trend reversal. “Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” wrote Sluymer in an excerpt of…