Research Firm: Cardano (ADA) Is One of the “Most Bullish” Crypto Assets

Aside from Bitcoin, Cardano (ADA) has rapidly become one of the most popular cryptocurrencies over recent weeks by investors and traders alike. The prominent altcoin, which has re-entered the top-10, has recently been subject to a strong boost. Data indicates that ADA is up 150% since the start of 2020, outpacing Bitcoin by around five times and other mainstream assets by many times more. Despite its already-strong outperformance, a top research firm in the cryptocurrency market has suggested that Cardano has room to run. Related Reading: Crypto Tidbits: Bitcoin Stalls…

Analyst Who Predicted Bitcoin’s V-Shaped Reversal at $3,700 Is Bullish

It’s been a tough past few weeks for the Bitcoin market. Some are skeptical that the cryptocurrency is in a bull trend after BTC has sustained multiple rejections at $10,000. Yet a trader that nailed a bold prediction remains optimistic, sharing a number of signals indicating imminent upside. Bitcoin Could Soon See a Bounce, Says Crypto Trader In March, Bitcoin plunged from the $9,000s to $3,700 in the matter of a week. Considering the severity of the drop, coupled with a collapse in the traditional economy, few expected a rebound.…

Bitcoin Breaks Below $9,000 as Sellers Invalidate Bullish Technical Pattern

Despite seeing a swift rebound, Bitcoin bears were able to push the cryptocurrency below its crucial $9,000 support just minutes ago. This breakdown has come about following a recent rejection posted by the crypto at $9,300, which appears to have become a resistance level. The latest decline below $9,000 indicates that the buying pressure that has been holding the crypto above its lower range boundary is dissolving. Analysts are now noting that the benchmark digital asset’s bears have been able to invalidate a bullish technical formation that buyers were attempting…

Risk of Bullish Breakout Grows

Ripple is currently consolidating above the $0.1720 support against the US Dollar. XRP price seems to be preparing for a bullish break above the $0.1800 resistance region. Ripple price is facing a couple of important hurdles near the $0.1780 and $0.1800 levels against the US dollar. The price is trading well below the 100 simple moving average (4-hours) and $0.1900. There is a crucial bearish trend line forming with resistance near $0.1780 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair is likely to start…

Bitcoin Price Stalls Below $9.2K but Data Shows Investors Are Bullish

Earlier today Cointelegraph reported that “Bitcoin (BTC) price recorded its strongest second quarter performance in history” despite a startling crash to $3,750 on March 13. Data from Skew also shows that Bitcoin currently has a quarter-to-date return of 42.39% and the digital asset remains the top-performer for 2020 with a 27.31% return.   Macro assets year-to-date returns %. Source: Skew Data from on-chain analytics provider glassnode also showed that since the Black Thursday crash, the total number of Bitcoin whales rose above the 2017 high to 1,800 over the last 3…

Bullish Case for Bitcoin Grows as BTC Whale Population Tops 3-Year High

Recently published data from glassnode shows there are currently more than 1,800 Bitcoin (BTC) whales. From a macro perspective, this increase in the number of whales can be considered bullish. The term whale is used within the crypto industry to describe an individual investor that holds a large amount of BTC. Typically, whales are early Bitcoin investors or wealthy individuals that newly enter the cryptocurrency market but as institutional investors enter the market perhaps the boundaries of the term will expand to include new entities. The number of Bitcoin whales…

Key On-Chain Metric Shows Bitcoin Remains Bullish Despite $800 Crash

The flagship cryptocurrency kicked off the week on the right foot, rising to a high of $9,800 on Monday. But the upswing appears to have been significant enough for some investors to take profit. Subsequently pushing the price of Bitcoin down to nearly $9,000. The sudden bearish impulse wiped out over $62 million worth of long and short BTC positions on BitMEX alone. Regardless, a considerable amount of buy orders were triggered around the $9,100 support level allowing Bitcoin to rebound quickly. Bitcoin’s $9,100 Support Level Holds Steady. (Source: TradingView)…

3 Indicators Show Traders Are Bullish on Friday’s Bitcoin Futures Expiry

Investors are magnetically attracted by the $1.1 billion Bitcoin and Ether options expiry scheduled to occur Friday, June 26, but they might be missing some relevant indicators of the futures contracts.  June 26 will also be the last trading day for many weekly and monthly Bitcoin (BTC) futures totaling $665 million at the time of writing. For futures participants, longs (buyers) and shorts (sellers) are always balanced; hence no price impact can be inferred. Despite this, some more nuanced indicators are providing telling signals of professional traders’ sentiment. The June…

Bullish Signs for Bitcoin Price After Record BTC Difficulty Adjustment

The Bitcoin blockchain network experienced its biggest mining difficulty adjustment in over two years on June 17. Surprisingly, the hash rate of Bitcoin has not dropped off by a large margin. The response of miners toward the difficulty adjustment is considered to be optimistic so far, as the hash rate is already starting to recover. Data from Blockchain.com shows that since June 11, the hash rate of the Bitcoin network increased from 101 million terahashes per second to 105 million TH/s. Miners continue to mine Bitcoin (BTC) despite a 14.95%…

Ripple (XRP) Lack of Bullish Momentum Could Derail Its Recovery To $0.20

Ripple is slowly correcting higher above the $0.1850 level against the US Dollar. However, XRP price must break the $0.1880 resistance and the 100 hourly SMA to start a strong upward move. Ripple is still trading in a bearish zone below $0.1920 and $0.1880 against the US dollar. The price is currently approaching the $0.1880 resistance and the 100 hourly simple moving average. There was a break above a major declining channel with resistance near $0.1870 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair…