There are now almost twice as many open short positions betting that the price of bitcoin cash (BCH) will fall as there are longs betting on a rise in its price. According to data from crypto exchange Bitfinex, which allows margin trading for multiple cryptocurrencies, there are currently 89,457 open BCH short positions and 53,322 longs. This is,… Read More »
Bitcoin (BTC) price dropped to two-week lows earlier today and could extend the decline to key support near $6,100, technical charts indicate. The leading cryptocurrency was teasing a bullish move 24-hours ago, having carved out a lower high of $6,270 along the support of the trendline connecting the Oct. 11 low and Oct. 31 low. The defense of… Read More »
With bitcoin cash (BCH) now looking certain to split into two competing cryptocurrencies, some traders in Asia are betting that the sum of the parts will be worth more than the whole. Specifically, these investors have been buying BCH in anticipation that Thursday’s contentious network software upgrade, or hard fork, will leave them owning two coins with a… Read More »
Early data suggests that the Bitcoin SV implementation of the bitcoin cash fork may enjoy more hash power than Bitcoin ABC.
New Economy Movement (NEM) hit a nine-week price high on Monday despite a neutrally toned cryptocurrency market. That market development coincided with a more than three-month high in 24-hour trading volume the same day, according to data collected by CoinDesk. The world’s 17th largest cryptocurrency by market capitalization rose to $0.114 at 09:15 UTC – its highest price since Sept.… Read More »
Bitcoin could be in for a recovery rally, having defended a key support level over the weekend. Looking back, the leading cryptocurrency suffered an ascending channel breakdown on Nov. 7, signaling a temporary top has been made at $6,540. On the following day, the moving average studies rolled over in favor of the bears, bolstering the already negative technical… Read More »
Bitcoin’s reversal of the recent uptrend in prices is gathering pace and a drop into a bearish territory below $6,200 is now a possibility.
Crypto exchange Coinbase is adding web browser Brave’s Basic Attention Token (BAT) to its retail trading platform, less than a week after listing it on Coinbase Pro. The exchange announced Thursday that customers would be able to buy, sell, trade or otherwise transact with the token on coinbase.com, as well as its Android and iOS apps. Coinbase first… Read More »
An experimental market on a major crypto exchange suggests that bitcoin cash users may favor the more established version of the software, Bitcoin ABC, ahead of an expected fork this month. Due to the technical design of the cryptocurrency, currently the fourth-largest by market capitalization, bitcoin cash users must “hard fork” the blockchain, or adopt a new software… Read More »
Bitcoin is painting a less bullish picture than 24 hours ago, following a drop out of an ascending price channel. Stepping back, the leading cryptocurrency picked up a strong bid at $6,200 on Oct. 31, keeping the crucial 21-month EMA support intact. Further, it witnessed a symmetrical triangle breakout earlier this week, signaling that bulls have come out… Read More »