Connect with us

Blockchain

Cardano, Ontology, Verge Price Analysis: 04 January

Bitcoin’s price correction is finally here, and altcoins could soon be in hot water. The past 24 hours have been shaky for the world’s largest cryptocurrency, with its price retracing by over 8% since

The post Cardano, Ontology, Verge Price Analysis: 04 January appeared first on AMBCrypto.

Republished by Plato

Published

on

Bitcoin‘s price correction is finally here, and altcoins could soon be in hot water. The past 24 hours have been shaky for the world’s largest cryptocurrency, with its price retracing by over 8% since hitting the $34,000 mark. Although the corrections were yet to sink in for the larger crypto-market, some altcoins had already started to retrace some of the gains made over the past few days, including the likes of Cardano, Verge, and Ontology.

Cardano [ADA]

Source: ADA/USD, TradingView

Cardano’s consolidation on the charts has continued into the new year, with its price trading between $0.192 and $0.172. In the last couple of days, ADA had risen above this channel, buoyed by Bitcoin’s recent price surge. At one point, its price had climbed as high as $0.242, a level not seen since March 2018.

While buying pressure certainly pumped prices, the momentum could not be sustained after Bitcoin’s price retracted on the charts. At the time of writing, ADA was down by nearly 11% in the past 12 hours, with a further fall anticipated in the near future.

The Relative Strength Index moved towards the neutral zone after trading in the overbought territory. This hinted at a possible reversal, and the price could fall towards its immediate support at $0.192.

The Stochastic RSI echoed a similar sentiment as the crypto’s price was moving towards the neutral zone after trading in the upper region, suggesting that a bearish bounceback was certainly a possibility.

Ontology [ONT]

Source: ONT/USD, TradingView

The past week and a half were rather uneventful for Ontology’s price as it traded close to the $0.459-mark. Although Bitcoin’s bull run provided some impetus to ONT, a correction soon followed as the world’s largest cryptocurrency moved lower on the charts. Bitcoin’s correction could continue to be a drag on ONT in the near future, and the price could fall beyond its present support and challenge the next support at $0.426.

The Bollinger Bands indicated a high degree of volatility in ONT’s price. The fact that the candlesticks moved lower after trading on the upper band showed that the bears were ready to take control of the market.

Lastly, the Awesome Oscillator was also bearish on ONT as the red bars were moving towards zero.

Verge [XVG]

Source: XVG/USD, TradingView

Verge seemed to have been the most affected by Bitcoin’s pullback. A look at XVG’s 4-hour chart showed that the gains over the past couple of days had been negated as prices fell by over 11% in the last 24 hours. The press time support level of $0.0082 and the next available support at $0.0076 could provide respite to the price if the downward trajectory continues in the near future.

In fact, certain indicators suggested that a move lower was indeed a possibility, with both the MACD and the Parabolic SAR indicating bearishness for the crypto-asset.

The MACD indicator’s Signal line was catching up to the fast-moving line, depicting a possible bearish crossover. The bars on the histogram were also falling, a sign that the bullish momentum was quickly losing steam.

The Parabolic SAR’s dotted markers were placed above the candlesticks, a bearish sign for the price.

Source: https://ambcrypto.com/cardano-ontology-verge-price-analysis-04-january

Blockchain

Six-Figure Bitcoin Price Predictions Back on The Table

Republished by Plato

Published

on

This has resulted in the renewal of six-figure price predictions for this market cycle, with some suggesting a top of $300,000 this time around.

At the time of writing, Bitcoin was trading at $37,900 after reaching an intraday high of $40,000 according to Tradingview.com. The asset had started to fall back during the Asian trading session on Friday and had failed to break its previous high of $42,000 but the sentiment is still very bullish.

Total crypto market capitalization has topped a trillion dollars again as some of the altcoins, such as Polkadot, make monumental 24-hour gains.

When Will Bitcoin Top $100K?

Popular traders and analysts are back in the game of predicting prices and they’re largely in agreement that this market cycle will result in six figure Bitcoin prices.

Josh Rager said that he thinks Bitcoin will see a six-figure price by early 2022;

He added that at this peak, the name of ‘Bitcoin’ will be mentioned on every TV, phone, and tablet around the world.

“This could certainly be the cycle that leads to Bitcoin becoming a household name along with serious adoption from those who once mocked peer-to-peer digital money,”

Fellow trader ‘TraderKoz’, who has 28k followers on twitter added that at a guess he would say that this cycle takes us to $250k to $350k.

“From there, we have 3 years of accumulation in the $60-90k range before Bitcoin takes over the entire financial system. That bull run will take us to over $1,000,000,”

Michael Saylor, who’s institutional investment firm MicroStrategy has been buying up large swathes of Bitcoin, continues to post bullish tweets about the asset to his 330k followers;

The Institutional Effect

Aggregated derivative exchange data provider Bybit reported that Bitcoin institutional inflows are showing no signs of slowing down, adding that there may be a new round of buying by Grayscale.

Grayscale itself reported an assets under management (AUM) figure of $27.7 billion in its most recent update. The company has also just released its fourth-quarter report revealing that there was record investor demand in the period, with approximately $3.3 billion in inflows.

The story made such an impact that even Reuters picked it up.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/six-figure-bitcoin-price-predictions-back-on-the-table/

Continue Reading

Blockchain

$500K Bitcoin Donation Funneled to Groups Involved in US Capitol Riot: Analysis

Republished by Plato

Published

on

Blockchain intelligence firm Chainalysis has tracked simultaneous Bitcoin (BTC) donations to wallets associated with right-wing extremist groups in the U.S., which might have helped fund the recent riot at the U.S. Capitol. The news marks yet another pivot towards pseudonymous money transfer means by alt-right groups in the U.S.

Alt-Right Agitators Received $500K in Bitcoin Prior to US Capitol Riot

Publishing its findings on Thursday (Jan. 14, 2021), Chainalysis revealed that several notable alt-right personalities who were present at the Jan. 6 riot in the U.S. Capitol received substantial Bitcoin donations.

According to Chainalysis, a single donor funneled 18.15 BTC to addresses belonging to entities with right-leaning affiliations on Dec. 8, 2020. At the time, this figure was worth over $500,000.

In its report, Chainalysis also revealed that popular far-right political commentator Nick Fuentes received 13.5 BTC. There are a few photographic pieces of evidence placing Fuentes at the riot with a megaphone in hand though Fuentes has denied entering the building itself.

Apart from him, alt-right podcaster Ethan Ralph and VDARE — an anti-immigration organization — also received BTC sums from the donor. While Chainalysis did not reveal the identity of the person responsible for funneling the Bitcoin, the crypto forensics outfit did mention that there strong evidence that the donor is a French computer programmer.

An examination into the donor’s wallet shows that the person is likely an early Bitcoin adopter. Further investigation into the donor shows a history of donations to extremist causes with an alleged suicide note referencing known alt-right talking points.

Based on these findings, U.S. law enforcement officials are reportedly investigating possible links between the donations and the assault on the Capitol. Prosecutors also say that they are approaching the investigations from a counterterrorism and counterintelligence standpoint.

Financial Censorship Triggering Crypto Adoption

Alt-right groups receiving donations in Bitcoin is only the latest example of political and social groups with dissident ideologies embracing cryptocurrencies. Indeed, Bitcoin’s early history is somewhat intertwined with WikiLeaks especially after the establishment was cut off from mainstream funding sources.

Even countries facing economic sanctions are also adopting cryptocurrencies. Venezuela is a popular example, with the Maduro administration even creating its own oil-backed Petro “coin.”

Nations like Iran are actively supporting Bitcoin mining with tax breaks for BTC miners. As previously reported by CryptoPotato, the output from three power plants has been offered to miners in the country.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/500k-bitcoin-donation-funneled-to-groups-involved-in-us-capitol-riot-analysis/

Continue Reading

Blockchain

Bitcoin Faced First Major Correction In Current Bull Run: The Crypto Weekly Market Update

Republished by Plato

Published

on

This week was very intensive in the cryptocurrency market. It’s perhaps safe to say that it was among the most tumultuous ones we’ve had in the last few months.

Everything started calmly, and during the weekend, the price hit an all-time high value of $42,000. The excitement was short-lived, as immediately after that, bitcoin went in the opposite direction and started to decline. It wasn’t until Monday, however, when things took a turn for the worst.

Bitcoin’s price lost around $12,000 in what seems to be the first major correction in the ongoing bull run. The decline of around 27% came in a few brutal four-hour red candles and led to the liquidations of $2.87 billion worth of both long and short positions, indicating once again how over-leveraged the market is.

From there, the price took uphill and even reached $40,000 again on Thursday. Bears, however, weren’t done as what followed was another handful of red candles that brought the price to its current trading level of about $35,000.

With this said, the entire cryptocurrency market took a hit as the capitalization has dropped below $1 trillion. Meanwhile, Bitcoin’s dominance is also suffering, as it’s down to 67.7% during this week from its high of around 70.3%. This shows that despite the blood on the streets, altcoins have managed to take the upper hand and claim a larger portion of the market.

Meanwhile, two other projects made headlines over the past few days, mainly thanks to their incredible price performance. Despite this brutal correction, Polkadot’s DOT token is up 40% over the last seven days, while LINK is up 22%. The latter even charted a new all-time high today.

In any case, the week was particularly exciting, and even though this time it was the bears who had the upper hand, it’s very interesting to see how the next few days will shape up. Is this the beginning of a larger correction, or is it just a step back in preparation for an even bigger rally? We have yet to see.

Market Data

Market Cap: $964B | 24H Vol: 144B | BTC Dominance: 67.7%

BTC: $35,442 (-14.6%) | ETH: $1,141 (-7.5%) | XRP: $0.276 (-12.9%)

Tether (USDT) January 15th Deadline on iFinex Case: Everything You Need to Know. Today is an important date for the entire cryptocurrency industry as it marks a serious deadline on the iFinex v. NYAG case. Here is everything you need to know about it and what to expect.

FinCEN Extends Comment Window on Proposed Crypto Regulations. After receiving thousands of responses and serious criticism from industry participants, the Financial Crimes Enforcement Network (FinCEN) has decided to extend the comment window on the proposed cryptocurrency regulations.

Following Coinbase And Bakkt: Winklevoss’ Gemini Reportedly Considers Going Public. Cameron and Tyler Winklevoss are reportedly exploring the option of taking their cryptocurrency exchange, Gemini, public. This means that they could follow in the footsteps of other cryptocurrency-related companies with similar intentions – namely, Coinbase and Bakkt.

Greenlight: Anchorage Secures Crypto Banking Charter from the OCC. The United States Office of the Comptroller of the Currency (OCC) has granted a cryptocurrency custodial service company a national trust charter. This puts the firm in the position to claim the mantle of a US-based national crypto bank.

4 Possible Reasons for Bitcoin’s $12K Correction After Reaching $42,000 All-Time High. Bitcoin went through its first major correction this week, sliding by more than 27% in just a few four-hour red candles. Here are some of the potential reasons for which this happened.

Crypto Market Cap Reclaims $1 Trillion as Bitcoin Sets Sights on $40K. The cryptocurrency market sees no boring days. Just a couple of days back, it was on its way back up, recovering from a major correction, and even claimed $1 trillion in market cap again. Unfortunately, today things took a turn for the worst again.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Polkadot, and Cardano – click here for the full price analysis.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-faced-first-major-correction-in-current-bull-run-the-crypto-weekly-market-update/

Continue Reading
Blockchain4 days ago

Ethereum Whale Addresses With Over 10,000 ETH Continue to Grow In Numbers, Price Holds Above $1000

Blockchain3 days ago

Bitcoin Will Be Analogous to Amazon, Mark Cuban Compares Crypto to the Dot-Com Bubble

Blockchain3 days ago

‘Crypto is exactly like dot com bubble; Bitcoin, Ethereum can survive it’

Blockchain3 days ago

As Bitcoin Regains Lost Ground, Options Traders Bet on $52K Move By Late January

Blockchain3 days ago

Ethereum Price Analysis: 12 January

Blockchain4 days ago

Shanghai Government Invests $5M in Blockchain Startup Conflux

Blockchain3 days ago

Brian Brooks, Crypto-Friendly OCC Leader, Steps Down

Blockchain3 days ago

Coinbase Custody Lists DeFi Project BarnBridge

Blockchain3 days ago

Bitcoin ‘real’ daily trading volume tops $22B as BTC price recovers

Blockchain3 days ago

How the OCC Is Building Crypto America (and Saving Banks From Extinction)

Blockchain2 days ago

SolidX Sues VanEck Over Bitcoin ETF Plagiarism

Blockchain4 days ago

Crypto Community Expects Bitcoin to Surge Amid Biden’s $3 Trillion Stimulus Plan

Blockchain4 days ago

Bakkt to Become a Publicly Traded Company worth $2.1 Billion Via New Merger

Blockchain4 days ago

IMVU’s new blockchain-backed stablecoin goes live

Blockchain4 days ago

HSBC Blocks Transactions From Crypto Exchanges

Blockchain3 days ago

Trader comforts the market’s traumatized first timers amid falling prices

Blockchain3 days ago

Is China Poised to Nationalize Alibaba?

Blockchain3 days ago

Gensler Said to Be Named SEC Chairman: Reuters

Blockchain2 days ago

EU Crypto Payment Processor To Remove XRP Following The SEC Charges

Blockchain3 days ago

Uniswap’s growth lead bites back over Yearn Finance’s SushiSwap merger

Trending