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Bitcoin News

New $5 Billion Wipeout Puts Bitcoin Below $3,500



In this Monday’s crypto news, we are seeing another wipeout of $5 billion which affected the top cryptocurrencies badly, putting Bitcoin below the $3,500 mark. Currently, the market cap is at $219, dropping $5 billion from the yesterday’s total of $224 billion.

Many traders have expressed their concerns previously, saying that a drop below the $3,500 mark could lead the price of the most dominant cryptocurrency to the $3,000 region or possibly below it, if the bearish run continues.

The crypto market suffered a minor correction which also affected altcoins such as Ethereum, Ripple, Bitcoin Cash and EOS. According to the prominent cryptocurrency trader and analyst DonAlt, a short term fall to the $3,400 mark is an expected move for Bitcoin.

As he said:

“Perfectly responded to the drawn level. $3,500 has acted as support 3 times already if it is hit another time I’d expect it to break. Finally approaching a level ($3,400) that I might trade again. Until then still sitting tight fully hedged.”

However, a more continuous drop may also result in an intensified downward movement for major crypto assets. Ethereum, which has fallen below Ripple (again) and became the third most valuable altcoin on the market, dropped by more than 6% overnight against the US dollar.

According to another technical analyst known by the handle Hsaka:

“Yesterday’s sell the rally analysis played out like a beauty. Bounced before the $3,430 support level. Took out lows (green dashed) of this consolidation. Neutral here, not shorting into HTF support. Covered my BTC short, holding ADA and BCH,”

The volatility is what appears to have set the major cryptocurrencies in a low price range, leading Bitcoin close to its 2018 bottom of $3,100.

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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, 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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Altcoin News

Japanese e-Commerce Giant Rakuten With A New App That Will Probably Support Crypto Payments

One of the largest e-Commerce firms in Japan, the giant Rakuten, recently announced that a major update of its Rakuten Pay mobile app is coming and will be released on March 18th, as the digital currency news headlines outlined. According to the firm's 2018 earnings release which was published on February 12th, the app will have a new structure that will probably support Bitcoin and other cryptocurrency payments in addition to fiat. As the company noted in the presentation material, the new version of the app will feature “all payment solutions embedded into one platform.” Known as "Japan's Amazon" - Rakuten has recently restructured in terms of its corporate structure. The new company includes the firm's cryptocurrency exchange named "Everybody's Bitcoin" (which Rakuten acquired in August 2018 for $2.4 million) as part of the newly established payments subsidiary, Rakuten Payment. Moreover, the firm's earnings release specifies that the app will support QR code payments and will use the corporation's prepaid card service, Rakuten Edy. Even though the app does not explicitly note anything about crypto support, the specification that "all payment solutions" will be supported on it implies support for crypto payments as part of its subsidiary, Rakuten Payment. In its earnings release, Rakuten reported a net income for 2019 of about 141.9 billion yen which is $1.3 billion - increasing by 28.4% when compared to 2017.
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Altcoin News

Top Cryptos Are Reporting Minor Losses, Bitcoin Getting Close To $3,630

Following the latest price updates for our altcoin news, we can see that most of the top 20 cryptocurrencies are showing slight losses and bitcoin has fallen under the $3,650 but is still trying to hover around $3,630. At the time of writing, Bitcoin is down by 0.18 percent for the day and is now trading at $3,624 after being briefly held at the $3.680 according to CoinMarketCap. Looking at the weekly chart, Bitcoin traded mostly sideways for the entire week but its price is still lower than when it was at the start of the week. Ethereum, on the other hand, has regained its position and is now the largest one by market cap which is $13.2 billion. Ripple is still the second-largest altcoin with a market cap of about $12.3 billion. ETH is one of the largest gainers of the day increasing up to 2 percent over the past day and is now trading at $126. On the weekly chart, Ethereum saw a steady climb after it increased by 7 percent from $117 which is the price where the coin was when the week started. Ripple was one of the coins that lost almost a percent in the past 24 hours and is currently trading at $0.30 and it seems that it is also trading sideways. Its price is lower by 1 percent from where it was when the week started. Among the other top 20 cryptocurrencies, IOTA is up by 0.65 percent, Maker (MKR) is up by almost 2 percent and NEO is up by 2.9 percent.
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Altcoin News

Top Cryptocurrencies See Green, Ending Week With A Positive Action

In the latest news covering cryptocurrencies on our DC Forecasts crypto news site, we are seeing gentle greens and mild price action that affected all of the top 20 cryptocurrencies, seeing fluctuations of within 2 percents in both directions on the day. Bitcoin is obviously in the focus with a 0.37% growth on the day and a current price of $3,631. On the weekly chard, Bitcoin has managed to suffer a loss of a couple percent. On the month, the coin has seen virtually no movement trading down by a mild 0.8% in value. Ethereum, on the other hand, is holding onto its newly regained position as the second largest cryptocurrency and the biggest altcoin by market cap out there. ETH is currently on the rise with 1% on the day, trading at roughly $123 to press time. On the month, Ethereum is stable and trading at virtually the same price point (only 0.4% down) as in mid-January. Ripple (XRP) is also seeing no price changes on the day and is trading around $0.301 at press time, up by a fractional 0.5% over the past 24 hours and down a mild 2% on the week. The monthly losses are bigger and coming at close to 9%. A major exception among all of the top 20 coins is Litecoin which has seen a 4% growth and is now trading at $43.83. EOS is also rising by a solid 2.4%, summing up the list of altcoins that see discernible growth during this month.
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