Connect with us
  • Home
  • Start here
  • Bitcoin Charts & More
  • Submit PR
  • Advertisement
  • Contact
CLOSE

Analysis

New Recovery Puts Bitcoin Over $6,700, Market Reaches $215 Billion

Published

on

The past 24 hours were positive for cryptocurrencies. The price of Bitcoin has increased for a couple of percents and went from $6,400 to $6,700, recording an increase in its daily volume. With this, the valuation of the total market cap rose from $210 to $215, adding $5 new billion in the price mostly from the surge in the price of tokens.

Speaking of, some of the tokens that stole the show with their surges included the Ethereum-based tokens such as Aion, ICON, and Wanchain which all recorded solid gains (from 10% to 20%) against the US dollar and Bitcoin, showing decent momentum.

The five largest cryptocurrencies by the total market cap which include Ethereum, Ripple, Bitcoin Cash and EOS (with Bitcoin as the first one) have all struggled to demonstrate a major recovery in the volume and price. Aside from Bitcoin’s gains – which we mentioned before – the rest of the top 5 altcoins closed the day with minimal (0.3% to 1%) gains.

Currently, the analysts hope that Bitcoin will finally surpass the (crucial) $7,000 mark. Even though it may take some time for the major cryptocurrency to do this, BTC will likely initiate a surge in the short-term.

Right now, it is more likely for Bitcoin to test the $7,000 mark in the next couple of days – rather than to drop back to the lower end of the $6,000 region. Still, there are investors that expect another correction before Bitcoin initiates a mid-term rally.

 

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments
Advertisement

Altcoin News

Major Altcoin Rise: Cardano, Stellar And Zcash With Gains Prior To Coinbase Listing

In this Monday's cryptocurrency news, we can see a big movement on the upside for several altcoins - all linked to their new listings on the Coinbase platform. Following the listing of Basic Attention Token (BAT) and 0x (ZRX), the prices of Cardano (ADA), Zcash (ZEC) and Stellar (XLM) have all began to surge. Since November 2nd, BAT was officially integrated into Coinbase Pro and Coinbase.com, XLM which is the native cryptocurrency of the Stellar blockchain network has surged from $0.22 to $0.28 recording gains of more than 27%. Cardano and Zcash have also followed the rise alongside Stellar, BAT and 0x, all of which Coinbase expressed in interest in May this year. Even though the privacy-focused altcoin Zcash dropped 3% throughout the past 24 hours, it has risen from $114 to $125 since November 2nd, surpassing $140 at one point and demonstrating a 21.7% increase. The price of BAT, however, dropped to the point before listing itself, demonstrating that the hype around listing is not always present. Still, BAT has surged big time before the drop and the Coinbase listing has been a confirmation that the token is not considered a security by the US Securities and Exchange Commission (SEC) - opening doors to many US and fiat-to-crypto exchanges in the world willing to accept and integrate it. The probability of Stellar, Cardano and Zcash to be integrated to Coinbase is right now very high. If such thing happens, there will be many positive developments including Stellar's blockchain wallet integration, the growing adoption of ZK-SNARKs technology of Zcash as well as rising adoption of Cardano's smart contract protocol.
`
Continue Reading

Altcoin News

The Story Of BAT: How And Why It Lost 28% Overnight Despite Coinbase Listing

The Basic Attention Token (BAT) was in our crypto news section this week for losing 28% of its value following a high profile Coinbase listing for the asset. However, many were left wondering why the altcoin declined about 20% against the dollar and recorded a 28% decline in value in a two-day span. It all started on November 3rd when Coinbase officially announced the BAT token as live on Coinbase Pro - to be traded against USDC which is a stablecoin issued by Coinbase and Circle. Six days later (November 9th), Coinbase disclosed that the integration of BAT into Coinbase and other products is complete, stating:
“Starting today, Coinbase supports the Basic Attention Token (BAT) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, send, receive, or store BAT, along with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, ZRX and USDC.”
The decline in the price of BAT was abnormal because of the integration. Similar to the case of ZRX and its dump following the listing of Coinbase, analysts think that these integrations demonstrate the typical 'buy the rumor and sell the news' moves by investors in the cryptocurrency market. To sum things up, the price of BAT is very likely to have undergone major pressure as more investors seek to profit from it on short-term events.
`
Continue Reading

Altcoin News

The ‘NEO Super’ Fork: A Scam Or A Promising Blockchain?

In this week's crypto news, there are a lot of rumors and reports that center around the altcoin NEO and a potential fork of it that calls itself "NEO Super." The venture launched apropos of nothing at all and has one real project behind it - a wallet service that some community members fear that could be an effort to scam NEO users out of their private keys. However, one reporter has found that the NEO Super project is an effort to "snapshot" the NEO blockchain and use it on the Ethereum network, complete with "mining opportunities" and more. As the reporter notes, NEO Super wants to take "the most successful" elements of NEO and use them in the form of a standard ERC-20 token contract. With only 39 Twitter followers, the Twitter account of NEO Super was banned and the project's GitHub repository has made no notable changes or commits to the NEO codebase. Because of this, one reporter was quick to jump to conclusion and say:
“Because with a closer look at their LinkedIn pages you can easily tell that they are each fake.”
If you see it, the CEO and lead developer of this project John D. Martin has only three connections on LinkedIn despite his alleged seven-year development career. And even though there is no whitepaper for the project, there is a nice looking website and a clone of other NEO wallet services. On top of this, the NEOX whitepaper clearly says:
“A lot of misunderstanding and incorrect representations surround the question of NEO forks. To put it simply, NEO cannot be forked in the same way as Bitcoin or Ethereum — that is, there is no way to split the chain and create a new coin based on NEO.”
To sum things up, this project is very confusing to declare it a scam outright - and very unknown and confusing to necessarily recommend. We'll keep a close eye on it in the future and notify you if there were any drastic changes.
`
Continue Reading

Altcoin News

Crypto Wipe-out: The Global Crypto Market Lost $6 Billion In The Past 48 Hours

In our latest crypto news, we can see that since November 7, over the past 48 hours the entire crypto market lost $6 billion of its value, dropping to $214 billion. Bitcoin, on the other hand, managed to remain stable. Four days ago, all major cryptocurrencies including Ethereum, Ripple, Bitcoin and Stellar recorded gains starting from 4 to 31 percent while Bitcoin Cash was the only one to surge by more than 40 percent in just two days. However, most of the major cryptocurrencies retraced which is actually an expected movement among all of the traders in the community. When the value of Bitcoin Cash dropped and also many other small tokens demonstrated a decline as well, the crypto market recorded a drop of 2.5 percent of its value but looking at the monthly performance the valuation is actually up by $16 billion which means that it grew from $198 billion to $214 billion. To continue, the crypto market added an additional $22 billion which is an 11 percent increase. The volume of all cryptocurrencies remained relatively high for example; Bitcoin’s trading volume remained above the $4.5 billion price mark. Many traders believe that the BTC futures market will act as a huge catalyst for the next BTC rally which actually will lead to institutional investors making a large impact of Bitcoin’s price in a good way. It’s important to know that tokens could go through a correction movement in the following months if the US Securities and Exchange Commission decides that the tokens will go under the existing regulations. The SEC explained:
 “While many tokens have recorded gains in the range of 5 to 20 percent over the last week, regulatory uncertainty around tokens and their regulatory nature could lead to a decline in the value of tokens in the weeks to come.’’
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below








ADVERTISEMENT

Join us on Facebook

Recent Posts



UPCOMING EVENTS RECOMMEND BY DC FORECASTS

november, 2018

Filter Events

01nov9:00 am02(nov 2)8:00 pmMalta Blockchain SummitA Buzzing Show on the Blockchain Island!9:00 am - 8:00 pm (2) InterContinental Malta, St. George’ s Bay St. Julian’s STJ 3310 Malta

05novallday08alldayCrypto Explorers' Crypto Valley TripSpend 3 Days Exploring the Decentralized Future.(All Day) Zug & Zurich, Switzerland, Kolinplatz 1, 6300 Zug, Switzerland

07nov(nov 7)10:00 am08(nov 8)8:00 pmBlockchain Life 2018The largest international forum on blockchain, cryptocurrency, ICO and mining in Russia and Eastern Europe.10:00 am - 8:00 pm (8) EXPOFORUM, EXPOFORUM, Saint Petersburg, Russia

09novallday13alldayBlockspot Conference Europe 2018The must-attend Blockchain event in Portugal(All Day) Lisbon, Portugal

fri09nov8:15 am5:30 pmHealthcare Unblocked 20188:15 am - 5:30 pm Etc Venues Prospero House, Etc Venues, Prospero House, 241 Borough High St, London SE1

fri09nov9:00 am7:00 pmNEXT BLOCK Conference: Evolution of Property9:00 am - 7:00 pm Marriott Lisbon Hotel - Portugal’s trendiest conference center., Avenida dos Combatentes 45, Lisbon 1600-042 Portugal

11novallday12alldayDecentralized Talks(All Day) DUBLIN, IRELAND