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Analysis

Bitcoin Surges By More Than 12 Percent After The Bakkt Delay

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The latest bitcoin news seems to be the rising of the number one coin by more than 12 percent jumping from $4,000 to $4,477 breaching the support level.

Despite falling again slightly, on every major crypto exchange such as Coinbase and Kraken, Bitcoin dropped as low as $4,020 but quickly recovered to $4,200. Eventually, it rebounded to $4,500 region.

Yesterday, November 20, ICE released a statement where they announced that they would delay the launch of the much-anticipated Bitcoin futures product until January 24th, 2019. In the official document by ICE, you can see they stated that institutions need more time to clear the market before opening the futures market.

A segment of the document reads:

 “ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval, new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.”

Rumors emerged that this decision could potentially cause the BTC price to drop since large-scale investors first got the information and possibly have the power to influence the entire market. Others claim that this is a good opportunity to accumulate more of Bitcoin.

Analysts argue that this is not such a scary and problematic drop. Since Bitcoin’s all-time high, Bitcoin is down by 80 percent if not less and even If it goes below $4,000 it’s still the fifth biggest correction that ever happened.  Bitcoin is likely to test the $4,000 support level in the many days to come but a drop below that point can only happen if the sell volume intensifies.

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Altcoin News

Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum

According to the latest price movements on the crypto market that we take a closer look into today’s altcoin news, the investors could see a green wave around the market. The crypto market increased along with Bitcoin increasing by 4.75% reaching the $3,800 price point. Despite the fact that almost all cryptocurrencies showed massive gains, Litecoin seems to be struggling to gain momentum despite the fact that is up by 7.23% over the past 24 hours. The altcoin is up only by 3% for the week. Most of the analysts think that Litecoin is struggling because the cryptocurrency did a great job outperforming its competitors last week after it traded between $40-$50. Currently, Litecoin is trading at $48 and if this trend continues, the altcoin is expected to reach $50 and remain on that position for quite a while. It seems weird that despite the partnership with Beam as previously reported, the price isn’t maintaining momentum. Also, as previously reported, the hash rate of Litecoin increased and last time Litecoin’s hash rate was close to this new high was in April 2018 when Litecoin’s price increased up to $120. The value of this altcoin dropped quite a lot which caused miners to drop out of the mining activities and start opting for more profitable coins. Litecoin lost its position as the fourth largest cryptocurrency after it was surpassed by EOS. EOS increased massively, by more than 13.80% and is the best gainer among the top ten cryptocurrencies. The entire crypto market is up by 6.2% and according to analysts, the market is expected to increase up by 10%.
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Altcoin News

Crypto Market Adds $10 Billion, Currently With $134bn. In Circulation

Litecoin (LTC), Bitcoin Cash (BCH), Tron (TRX) and Stellar (XLM) were the highest earners in the new surge that led the cryptocurrency market to add new $10 billion - coming closer to the $135 billion gap. In the daily news of our DC Forecasts crypto news site, this surge came with bullish moves in Bitcoin and Ethereum as well, which dominated the market. However, in this piece, we are focusing on the altcoin traction which started with a solid upward move by Bitcoin Cash (BCH) which broke the $130 resistance against the US Dollar. The BCH/USD pair gained traction and surpassed the $140 and $145 resistance levels, shooting up by about 15% and testing the $150 resistance level on the upside. Litecoin (LTC) also pushed high and broke the $45 resistance area, trading up by around 7% and breaking the $47 resistance as of recently. It seems like with the positive price action recently, the chances for LTC are of more upsides above the $48 and $50 resistance levels. Tron's price, on the other hand, formed a support base near the $0.0240 level. TRX later started a correction and moved above the $0.0250 resistance, opening the doors for a decent recovery. Looking at the total market cap, buyers gained control above the $130 billion resistance levels where the high is right now set at $136-7 billion. However, the possibility of dips is still present.
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Analysis

Bitcoin Nearing $4,000: The Chances Of A Larger Breakout Are Increasing

The latest Bitcoin news show that the price of the most dominant cryptocurrency is now coming closer to the $4,000 mark, which is interesting because just a few days ago, it was changing hands with the $3,500 region. Bitcoin is now trading at $3,946 at press time, rising by another 5% over the past few hours and increasing its market cap to a few millions short of $70 billion. With that, the chances of Bitcoin are continuously increasing and the BTC/USD pair showed a nice bullish momentum recently. The clear bullish break noted above the $3,800 resistance and the 100 hourly simple moving average is linked to Ethereum as well, which rallied towards the $150 resistance level and helped BTC climb towards the $4,000 area. Currently, the downside margin for Bitcoin is set at $3,800 and the price could easily test the $3,720 support if things go haywire. However, a bullish action is much more expected than this as the price stays above $3,900. The main resistance on the upside is at $4,200 which analysts see as a potential increase. On the positive note, if this is soon achieved by Bitcoin, there is a possibility for an even larger increase and possibly a breakout to the $5,000 region.
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Altcoin News

Bitcoin Goes Over $3,750 As Total Market Cap Rises To $126 Billion

The latest Bitcoin news showed what we all knew - that the next strong move is here and building up slowly. After days of green on the market with minimal rises, this Monday starts with great news for Bitcoin, Ethereum and other coins which are all in the green and have surged by at least a few percentage points. Ethereum managed to surge by 13% which brought the biggest altcoin to a price of $138 and increased the market cap difference it has with Ripple (XRP). Speaking of, XRP has also surged by less than 3%, growing stable at $0.309. The most dominant cryptocurrency out there, Bitcoin, has surged to $3,754 while adding billions to the market cap - setting the bar higher once again and coming close to the $4,000 mark. The market is now used to greens like these especially because since 2018, Bitcoin has been constantly registering the red candles and is now in a positive trend which may recommence and mimic some of the best days of the most dominant cryptocurrency. When it comes to the Bitcoin network, the transactions are ever increasing and the average fee is taking a downward shift. According to Blockchain.com, the biggest block with an average size of 1.305 megabytes has been mined which has seen the result of ever-increasing adoption of the Segregated Witness (SegWit) which now accounts for 40% of all the Bitcoin transactions. This new surge continues to spread the Bitcoin awareness and adoption worldwide, and those who really need it are investing in this uncensored and borderless cryptocurrency. Even institutional investors are jumping in the bandwagon - in the form of Nasdaq, Bakkt and Fidelity as the three biggest names so far which made the crypto news this month. The total cryptocurrency market cap also increased and is right now circulating with $126 billion.
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