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.
Two Miners Reportedly Executed A 51% Attack On Bitcoin Cash (BCH) Blockchain
“When the unknown miner tried to take the coins themselves, http://BTC.TOP & http://BTC.COM saw & immediately decided to re-org & remove these [transactions] TXs, in favor of their own TXs, spending the same P2SH coins, + many others … So just 2 miners, in secret & w/ no trouble, took it upon themselves to remove 2 blocks w/ another’s TXs, & replace with their own," Swann tweeted.The two miners and their attack are a topic shared by many best cryptocurrency news sites. However, 51% attacks have always been considered unethical, undesirable and unprofitable option to take away funds as it would require a massive amount of computing power and because of the fact that users would flee. According to other stats on Coin.Dance relevant to the two miners, BTC.top and BTC.com control 43% of the Bitcoin Cash mining pool together. Meanwhile, this is not the only mining attack featured in the coming altcoin news. Previously, the Ethereum Classic (ETC) blockchain experienced a 51% attack in January, resulting in a loss of 54,200 ETC.
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Galaxy Digital ‘Bank’ Cashes Out Of Block.one Investment With 123% Profits
“The acceptance of Block.one’s tender offer reflected a decision to rebalance the portfolio to maintain an appropriate level of diversification after the position increased due to its substantial outperformance relative to the remainder of the portfolio,” Novogratz then said.As the filing shows, Galaxy Digital Bank can attribute much of this loss to its principal investing and trading businesses, presumably due to the fact that November and December saw Bitcoin and many other coins falling to fresh lows, as the altcoin news showed. The filing notes that Galaxy Digital Bank is primarily founded by Novogratz's wealth, 20% of which is purportedly invested in Bitcoin and Ethereum. Even though the company lost $272.7 million in all of 2018, much of the losses were incurred as a result of sale of cryptocurrency. One Twitter analyst also went in detail on this. https://twitter.com/zhusu/status/1126394118093950983 However, this is not the end of Novogratz & co. The report revealed that as 2018 ended, Galaxy Digital Bank owned $350 million of assets, 50% of which constituted equity/stake in prominent industry startups. More importantly, Galaxy Digital announced the launch of another fund (rumored with hundreds of millions in funding) which will loan out capital to cryptocurrency firms - a business which has boomed during the 2018 bear market - as the latest cryptocurrency news show.
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