Markets blow up, so the best prep is to have a plan to buy fear and sell euphoria Veteran trader
Pear Protocol founder HUF says a limited pool of capital constantly rotating between narratives is a clear sign of late cycle behavior.
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Pear Protocol founder HUF says a limited pool of capital constantly rotating between narratives is a clear sign of late cycle behavior.
Introduced in May 2023, the Robinhood 24-hour market service allows customers to invest on their own schedule.
As Bitcoin dropped below $50,000, analysts expect more outflows that would potentially drive prices down to $42,000.
Ethereum (ETH) price has struggled amid another market shakeout. The second-largest cryptocurrency by market capitalization fell below the $2,600 support zone for the third time in the past week, prompting crypto analysts to evaluate the next levels to watch out. Related Reading: Is Ethereum Poised for Inflation? Supply Reaches New High as Staking Takes Off ETHs Key Support Zone To Watch Out The crypto market has seen several retraces throughout the cycle, with cryptocurrencies like Ethereum significantly decreasing from its Q3 opening. Since July 1, the king of altcoins has seen a 24% drop from the $3,400 support level. Following its fall below the $2,100 mark during the Black Monday crash, ETH has hovered between the $2,300 and $2,700 range. The cryptocurrency has recovered around 18% of its price while tries to reclaim the $2,600 level. Nonetheless, the recent market shakeouts have made the price retest the strength of the $2,500 support zone three times in the last two weeks, which turned experts wary of ETHs next step. Renowned crypto analyst Ali Martinez stated that investors should pay attention to a key support zone after Ethereums performance. To Martinez, the $2,300 and $2,380 price range should be watched if ETH continues its downward trend. According to the In/Out of the Money Around Price (IOMAP) chat shared by Martinez, 1.62 million addresses bought over 50 million ETH at this zone, making it the next wall of support for Ethereums price. If the cryptocurrency fails to hold this level, its price could drop to $2,200 and even levels not seen since February. Will Ethereum Drop To $1,200 This Year? Other experts have suggested that the second-largest cryptocurrency could see its price drop even lower, as even giants will fall. Top analyst Benjamin Cowen stated that the collapse of ETH/BTC is almost completed. A year ago, Cowen forecasted that the collapse of the trading pair would mark the end of the altcoin reckoning. He explained that altcoin reckoning refers to the devaluation of the altcoins on their BTC pairs. The analyst added that ETC/BTC was the last one to rise in the bull and it can be the last to fall in the bear. To him, this trading pair has four more months before it goes up next year. Additionally, Cowen predicted that Ethereums price could hit the $1,200 price range in December if its performance is similar to the last two cycles. Crypto investor Ted Pillows urged investors to hold on throughout the troubled waters, suggesting that a $10,000 is still possible. To the trader, the King of altcoins is not dead based on different factors. Ted highlighted that spot Ethereum exchange-traded funds (ETFs) inflows have increased while Grayscale outflows have progressively gotten smaller, and Jump Trading has only around $60 million in ETH to sell. Related Reading: Will Bitcoin (BTC) Trade Back Above $70,000 By September? Analysts Weigh In Moreover, ETH is strongly holding its support level, which he deemed the most important factor. Ultimately, the investor Predicts that the consolidation breakout will occur between November and December, while the parabolic run will start in Q1 2025. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin Price Surges above $80K as US Stocks Steer Clear of Black Monday Catastrophe The price of Bitcoin has bounced back above $80,000 as US stocks manage to avoid a potential Black Monday crash. This positive movement in both the cryptocurrency and traditional financial markets comes as a relief to investors worldwide. Following a period [...]
The post Bitcoin Surges Past $80K While US Stocks Dodge ‘Black Monday’ Collapse appeared first on Crypto Breaking News.
Bitcoin’s value has plummeted below $80,000, causing concern among investors. This drop in price is reminiscent of the stock market crash of 1987, known as Black Monday. The cryptocurrency market is experiencing significant fluctuations, with Bitcoin leading the way in terms of volatility. Investors are closely monitoring the situation as fear of a potential market [...]
The post Bitcoin Plummeted Below $80K while Stocks Mirror 1987 Black Monday Decline appeared first on Crypto Breaking News.
The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased some concerns, but fears of financial contagion have spread. Market strategists are further anticipating the U.S. central [...]
The post US Inflation Data Eases Concerns; Crypto Economy Jumps 11% Higher While Market Analysts Anticipate Fed’s Next Decision appeared first on Crypto Breaking News.
The U.S. Federal Deposit Insurance Corporation (FDIC) began an auction process for Silicon Valley Bank (SVB) late Saturday night, according to reports. Final bids are due by Sunday afternoon. Unnamed sources indicate that the FDIC is seeking to close the deal promptly after California regulators closed the bank and placed it into FDIC receivership on [...]
The post Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow appeared first on Crypto Breaking News.
Shares of Bitfarms Ltd (NASDAQ: BITF) are up more than 15% on Monday after the bitcoin mining company reported its financial results for the second quarter.
Bitfarms Q2 financial highlightsCorporate hashrate more than doubled YoY to 3.6 exahash per second EH/s. In the earnings press release, COO Geoff Morphy said:
Entering the second half of 2022, we’re focused on executing our growth and maximising our profitability. By bringing online our first warehouse in Argentina and Phase 3 of The Bunker buildout, we’re targeting 4.2 EH/s and 6.0 EH/s by the end of Q3 and year-end, respectively.
Bitfarms shares up on positive cash flowBitfarms reported positive cash flow from operations (adjusted EBITDA of $19 million) in the second quarter even though the price of Bitcoin was down significantly. CFO Jeff Lucas wrote in the earnings report:
By deleveraging our balance sheet and increasing financial flexibility, we’re better positioned to execute our growth initiatives to drive market share gains and increased production. We optimised resources, deferring $39 million in CAPEX from Q4 of 2022 into 2023.
The Toronto-headquartered firm ended the quarter with $46 million in cash and roughly $62 million worth of bitcoin. H.C. Wainwright strongly recommends that you buy Bitfarms shares down over 50% for the year.
The post This bitcoin mining stock is up big on Monday appeared first on Invezz.
ETERNAL, the native token of play-to-earn platform CryptoMines got crashed, and the token holders are yet to understand what led to the sudden drop of the cryptocurrency, which has been on the rally since the beginning of the month. https://t.co/0R6R5xWKqX #CryptoMines pic.twitter.com/2C83RyS8cG — NFT world (@bkk2day) November 29, 2021 CryptoMines Token Plummets to $123 Since […]
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