Will Ripple (XRP) Drop to 34 Cents? xRapid and Building Determiners

Ripple (XRP) up 14 cents in the last week Building and strategic partnership will drive adoption helping support Ripple (XRP) prices Chris Larsen is part of the IMF Advisory Board, remains the co-founder of Ripple and recently donated $25 million in XRP at the San Francisco State University. Whether that will elevate Ripple Inc profile, we are not yet visible but what is clear is that Ripple (XRP) buyers are back. Ripple Price Analysis Fundamentals Not surprising, Ripple is actively building and on the other, they are striking partnerships, and…

Why Bitcoin Drop to $1,850 May Be Next Despite Bullish Crypto Momentum

In the past 3 months, the Bitcoin price has been relatively stable, performing strongly against the U.S. dollar with solid volume across major markets in the likes of the U.S. and Japan. Since December 16, within a 3-month span, the Bitcoin price has increased from its yearly low at $3,122 to $3,943, testing the $4,000 resistance level. 3-Month Bitcoin Price Chart (Source: Coinmarketcap.com) The stability of Bitcoin has led many tokens and alternative cryptocurrencies to record large gains against both BTC and the USD, with assets Litecoin, Enjin Coin, and…

3% Bitcoin Price Drop Puts a Dent in Short-Term Bullish Outlook

View Bitcoin’s drop to six-day lows below $3,700 has taken the shine off the bullish “long-tailed doji” created on Feb. 27. A bearish reversal would be confirmed if prices see a UTC close below $3,658 (low of long-tailed doji) and could yield a sell-off to recent lows near $3,300. A bearish move below $3,658, however, may not happen or could be short-lived, as a number of technical indicators on the weekly chart are flashing early signs of bullish reversal. On the higher side, a break above $3,897 – high of…

Funds in Short Positions on Bitcoin Drop to 6-Month Low

The amount of money allocated to short bets against bitcoin fell to a more than 6-month low during Tuesday’s trading session, data from the popular cryptocurrency trading platform Bitfinex reveals. At 13:00 UTC today, the total funding in BTC shorts, or positions that would profit from a decline in the price of the underlying bitcoin asset, fell beyond the recent low of 18,992 BTC set this past November to reach 18,888 BTC – the lowest amount seen since Aug. 4, 2018. The development comes a day after bitcoin’s price increased…

Bitcoin Price Looks South After Drop to Six-Week Lows

Bitcoin ended a two-week period of consolidation with a drop to six-week lows earlier today. The leading cryptocurrency by market value fell below $3,470 at 04:45 UTC, confirming a downside break of a triangle pattern. That range breakdown was followed by a quick slide to $3,357 – the lowest level since Dec. 17 – according to Bitstamp data. A prolonged period of consolidation usually yields a big move in the direction of the breakout. For instance, BTC ended a multi-week-long trading range with a move below $6,000 on Nov. 14…

Following $5 Billion Drop in Crypto, Traders See Weakness in Bitcoin

On January 13, the crypto market initiated an intense sell-off as the Bitcoin price fell below the $3,500 mark. The weakness in the short-term price trend of BTC led the market to demonstrate volatility on the downside. More than $5 billion was wiped out of the crypto market and major assets like Ethereum recorded a six percent drop. Where is Bitcoin Headed? Generally, both analysts and traders expect Bitcoin to fall to the low $3,000 region in the days to come. Some have suggested that a strong buy wall below…

Bitcoin Risks Return to December Lows After Price Drop to $3.5K

After breaching key support on Sunday, emboldened bears could soon push bitcoin (BTC) prices back towards $3,100. Following a drop to a 3.5-week low of $3,476 at 16:00 UTC yesterday, the cryptocurrency closed at $3,516, effectively invalidating the bullish view put forward by the higher low of $3,566 carved out on Dec. 27. That move also added credence to the bearish reversal signaled by the 9 percent price drop witnessed last Thursday. Put simply, the bears have strengthened their control of the market, after the bulls failed to penetrate the…

Bitcoin to End 2018 With 80% Drop, What Investors Can Expect in 2019

Following one of its biggest bull rallies in history to $19,500, Bitcoin (BTC) is set to end 2018 with an 80 percent drop from its all-time high. As Bitcoin enters 2019 with a bear market status having suffered a steep sell-off in December, what can investors expect in the first two quarters of 2019? Several Catalysts on the Horizon For Bitcoin In the first quarter of next year, Bakkt, a cryptocurrency liquidity provider and exchange operated by the New York Stock Exchange’s parent company ICE, is set to launch a…

No, the Price of Bitcoin Didn’t Drop Because of Bomb Threats

On Friday, as the Bitcoin price fell by around six percent against the U.S. dollar, several reports claimed that the dominant cryptocurrency dropped in value due to bomb threats. One report from Business Insider Australia, for instance, stated that following an email blast of bomb threats in New York, the price of the crypto asset endured a correction. Wrong Argument Against Bitcoin A common misconception that Bitcoin (BTC) by nature is anonymous or impossible to track is simply not correct. As a consensus currency, Bitcoin is based on a decentralized…

Crypto Loses $14 Billion 1 Week, Bitcoin Will Likely Avoid Drop Below $3k

Over the past 48 hours, the Bitcoin price has stabilized at around $3,400 after dropping to a new yearly low at $3,210 on December 7. On a weekly basis, Bitcoin (BTC) is up six percent from $3,210 to $3,400 but the cryptocurrency market has lost $14 billion of its valuation against the U.S. dollar mostly due to the underwhelming performance of major digital assets and the plunge in the value of ERC20 tokens. The Ethereum price has also recovered slightly by a similar magnitude as Bitcoin, with Ethereum (ETH) recording…