Google Trends Bitcoin Searches, a Key Price Indicator, Turn Mega Bullish

By CCN Markets: On June 7, Coin Street News (@CoinStreetNews) shared a chart on Twitter that could have serious implications on bitcoin’s price action. The account specializes in technical analysis of cryptocurrencies and other assets. They posted a Google Trends chart and revealed that “there are more people searching ‘bitcoin’ now than during the 2013 bubble.” The tweet also noted that the year-over-year data for the search term “bitcoin” has gone up for the first time in the past year. Coin Street News noted the significant rise in the search…

If Bitcoin Hits This Key Level, It’s Going to Make a Run for $40K: Tom Lee

By CCN Markets: The bitcoin price might have slipped below $8,000 for now, but it could be headed much higher in the near future. Fundstrat Global Advisors Co-Founder Thomas Lee is willing to put it on the line for bitcoin once again, making an aggressive short-term prediction on where the cryptocurrency could be trading if it can capture enough momentum. In an interview with Binance CFO Wei Zhou, Lee laid out his bullish case. Lee and Zhou agree that once bitcoin regains the $10,000 level, it will be “fast and…

Bitcoin Bulls Rage in Key Indicator Despite $11 Billion Crypto Flush

By CCN: In an overnight pullback, the bitcoin price has dropped by around 2.3 percent from $8,700 to $8,500, leaving major crypto assets such as Ethereum, Bitcoin Cash, XRP, and EOS with 3 to 8 percent losses against the U.S. dollar. The bitcoin price has been on a downward trend for nearly a week (source: coinmarketcap.com) As the bitcoin price endured a minor correction, the valuation of the crypto market has dropped by nearly $11 billion from $279 billion to $268 billion. Still, despite the short-term correction of bitcoin and…

Bitcoin Remains on Hunt for $9K After Defense of Key Price Support

View Bitcoin bounced up from $8,420 on Wednesday, forming a bullish higher low. The 4-hour chart now shows a bull flag breakout. As a result, a rally to $9,000 looks possible. A pennant breakout confirmed on Sunday has already created room for a rally to $10,000. On the way higher, BTC may face selling pressure near the key Fibonacci retracement level of $9,442. The short-term bullish case would weaken if BTC finds acceptance below the former resistance-turned-support at $8,390. A bearish volume divergence on the daily chart does indicate scope…

Bitcoin Close to Full-Blown FOMO as Price Nears Key 10K Level

By CCN: After a week in which bitcoin flirted with $9,000 for the first time in a year, Fundstrat’s Tom Lee cited data which suggests the point of no return is fast approaching. According to data from Fundstrat, when the value of bitcoin crosses the $10,000 barrier, it’s full-blown FOMO all the way. Labeled as ‘Level 10’ FOMO, this represents the equivalent value at which Bitcoin has soared in the past. Full Blown ‘Level 10’ FOMO Approaching for Bitcoin Global head of the Financial Times, Adam Samson tweeted the following…

Ethereum (ETH) Price Approaching Key Support: Buy Dips?

ETH price topped near the $280 level and recently started a downside correction against the US Dollar. The price is slowly moving lower towards a couple of important supports near $265. Yesterday’s highlighted key ascending channel is intact with support near $266 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to find a strong buying interest near the $266 and $265 support levels. Ethereum price is currently correcting recent gains versus the US Dollar, but declining vs bitcoin. ETH could bounce back as long…

Computer Researcher Finds Wallet Vulnerability That Gave Same Key to Multiple Users

Online cryptocurrency paper wallet creator WalletGenerator.net previously ran on code that caused private key/public key pairs to be issued to multiple users. The vulnerability was described in an official blog post by security research Harry Denley of MyCrypto on May 24. According to the post, the bad code was in effect by August 2018, and was only recently patched out as of May 23. The live code on the website is reportedly supposed to be open source and audited on GitHub, but there were differences detected between the two. After…

Key Bullish Technical Signal Predicts Bitcoin Price Is Approaching $12,000

By CCN: The minor bitcoin price rally which Bloomberg initially rejected as an April Fools’ joke has metamorphosized into a laughter riot. The world’s leading cryptocurrency has surged as much as 116.29% since its first notable breakout action of April 2. It established a fresh yearly high $8,947.88 this Monday in what now appears like a tireless bull run. There have been no signs of extreme pullbacks despite bitcoin’s overbought status. And every minor downside correction is influencing more speculators to enter the bitcoin market at a slightly lower intraday rate.…

Ethereum (ETH) Price Correcting Gains: Key Buy Zones Nearby

ETH price rebounded nicely and traded above the $240 and $250 resistances against the US Dollar. The price tested the $265 level and it is currently correcting lower towards the $240 support. There is a key bullish trend line forming with support near $240 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to find a strong buying interest near $240 and the 100 hourly simple moving average. Ethereum price remains in a strong uptrend above $240 versus the US Dollar, but consolidating vs bitcoin.…

Ethereum (ETH) Price In Corrective Decrease: $230 Support Holds Key

ETH price climbed further higher and tested $280 before correcting lower against the US Dollar. The price started a downside correction and traded below the $270 and $260 supports. There is a major bullish trend line forming with support near $252 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $230 support area to avoid an extended downside correction. Ethereum price climbed towards the $280 level before correcting lower versus the US Dollar and bitcoin. ETH is likely to find support near the…