Cryptocurrency Analysis and News Portal
Over the past few months, however, sentiment readings have been erratic as BTC declined by as much as 50% and then stabilized in a trading range, albeit with 20% price swings. It is very difficult to get a clear reading on crypto sentiment, especially during times of market stress. Source
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The previous surge in bitcoin funding rates occurred early in 2021, which preceded a near-50% sell-off. This time, however, funding rates have not reached extreme levels, which suggests some traders have been on the sidelines, scarred by significant liquidations in the prior sell-off. Original Source
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The software platform Cardano has entered the third stage of its roadmap, the Basho era. It promises to improve the network’s performance and scalability. Cardano’s roadmap is “a summary of Cardano development” divided into five eras to deliver improvements in diverse functionalities of the network that are “delivered across multiple code
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Bitcoin rose toward $43,000 on Tuesday and is up about 3% over the past 24 hours. Several alternative cryptocurrencies (altcoins) such as MATC and FTM were up about 14% over the same period, suggesting a greater appetite for risk among investors.It appears that bullish sentiment is starting to return to
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Price momentum is starting to recover on the daily chart, which suggests buyers could remain active into the Asia trading day. Additionally, the relative strength index (RSI) on the daily chart is near oversold levels similar to what occurred in late September, which preceded a price rally. Original Source
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Bitcoin is set to undergo a major network upgrade, Taproot, in nearly two days, i.e., on Nov. 14 or 255 blocks later, as per data from Taproot.watch. This is the first significant upgrade since the Segregated Witness (SegWit), which eventually culminated in the development and launch of the Lightning Network
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This is notable because the exchange is seen as a proxy for institutional demand. Further, its latest jump from last month’s fourth spot is reminiscent of the exchange’s rise to the top seen during bitcoin’s four-fold institutional-driven rally to nearly $40,000 in the final three months of 2020. Source
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Bitcoin analyst Edward Morra sees price heading towards $9,575 in the coming sessions.The prediction surfaces after the cryptocurrency failed to close above its short-term resistance level near $9,285.It also appears as global risk-on sentiment improves on positive job reports and vaccine hopes.Bitcoin could close above $9,500 in the coming session
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Major United States investment management firm VanEck has listed four reasons why Bitcoin (BTC) improves an investment portfolio upside.On Oct. 8, VanEck released research titled “The Investment Case for Bitcoin,” aiming to determine what role the cryptocurrency can play in an investment portfolio. According to VanEck, a firm that
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