Over the past few days, we have seen a lot of news and headlines on our DC Forecasts crypto news site, mainly geared towards blockchain, regulation and the relatively stable prices of Bitcoin and the other altcoins.
Bitcoin (BTC) Is ‘Stuck’ Between $3,850 and $3,900
Even though the market lost a few billions and Bitcoin did not manage to reach the $4,000 mark, the market showed stability amidst the bearish trend. Bitcoin traded in a tight range below the $3,900 resistance level – in fact BTC appears ‘stuck’ between $3,850 and $3,900 without any way out.
Once there is an upside break above $3,900, buyers will likely gain control over BTC. The next key resistance is predicted near the $3,980 and $4,000 zone, where sellers might put up a strong fight.
Ethereum (ETH) Price Action: Stable At $130
Ethereum, on the other hand, is slowly moving down after it failed to break the $135 resistance level. ETH managed to decline below the $132 number in the bearish run and could soon test its $130 support level.
The price of ETH could soon bounce back and even make an attempt to surpass the $134 and $135 resistance levels. As Ethereum approaches the $130 support, its next movement could play an important role in the near term.
Ripple (XRP), Bitcoin Cash (BCH) And EOS (EOS)
Ripple was surging above the $0.32 resistance. However, it has been failing to hold the gains and retesting the $0.31 support area. XRP/USD has also failed to hold the gains and declined sharply, dismissing the $0.32 level which is why it could take time for the altcoin to prepare for a fresh upward move.
Bitcoin Cash (BCH) is slowly moving higher as we speak – and it recently broke the $130 resistance level. The BCH/USD pair is showing positive signs and it seems like buyers could now push the price above the $132 level.
EOS (EOS) is the last one of the altcoins that is consolidating the price above the $3.50 support level. However, in order for EOS to start an upward move, the price must clear the $3.60 and $3.70 resistance levels. On the downside, the $3.50 support is incredibly important and if EOS goes below it, there could be heavy losses.
The other altcoins that moved up by more than 7% included the names of ETN, WAX, REPO, ETN, BCD, INB, PIVX, XLM and KCS – where ETN rallied more than 20% and WAX is close to 18%.
Overall, the market is near an infection point and is likely preparing for the next key break.
XLM Jumps By 11% After Banks Got Interested In IBM’s Stellar Blockchain Opportunity
Digitec Galaxus Group From Switzerland Officially Accepts Crypto Payments
“By using Coinify, we are not running into the knife. It is still not clear to me how blockchain is any better than other database technologies. The transactions are so far more expensive and slower than a normal payment method. Decentralization brings only cumbersome improvements. None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works.”Herren said that the decision comes after the prolonged bearish correction on the market where most of the crypto assets lost nearly a third of their value. Despite the fact that investors didn’t really get scared of the decline in prices, institutional adoption is still uncertain regarding making more profits. For example, back in 2018 in June, the Expedia hotel booking platform deleted Bitcoin out of their options and in the same year couple of months back, Reddit also stopped accepting cryptocurrency for its gold membership plans. Years back, Bitcoin became popular because of its attractiveness as a cheaper alternative for expensive payment processors. But as the technology got more popular, the network was unable to handle a higher number of transactions such as Visa or MasterCard and that’s why retailers didn’t choose crypto for making transactions. The Swiss retail giant brings bitcoin back into the retail game. However, traders who are into crypto or those who just hold on to it for better days can now use their coins to purchase something from the retail platform.
New Report Shows That Bithumb Is Laying Off 50% Of Its Staff
“Voluntary retirement is part of our support program for former employees and is intended to provide assistance and training for job placement. Apart from that, [Bithumb’s] trading volume has decreased compared to the previous year, [so] we are trying to provide internal measures. We will continue to add necessary personnel for various new businesses.”Bithumb still hasn't responded to the requests for comment. However, many speculate that this move is right because of the crypto winter which led to a lot of minuses all over the market. Still, what's interesting is that Bithumb has been preceded by many other firms in the sector - such as the mining giant Bitmain, the blockchain software company ConsenSys, the decentralized social network named Steemit as well as the similar crypto exchanges Coinsquare and Huobi - all of the companies which have decided to make significant cuts in the recent months. According to data from CoinMarketCap (CMC), Bithumb has seen more than $1.3 billion in trades over the past 24 hours. The exchange, however, was removed from the CMC global exchange rankings in January 2018 mostly because of the concerns that the site had over the reportedly "extreme divergence in prices from the rest of the world" and its fellow exchanges in South Korea. Currently, everyone is waiting for an official confirmation about the layoff from Bithumb. The respected exchange hasn't confirmed anything yet but will probably do that over the next couple of days.
Stellar (XLM) Makes Moves Up, Binance Coin (BNB) Flips
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