$8,000 BTC a Buy with $20,000 Bitcoin Price Boom in Play, Says Analyst

The price of bitcoin has been see-sawing since hitting the $13,000-mark in late June as traders believe that the cryptocurrency could witness a significant pullback in the 30 percent to 40 percent range. But one analyst believes that it would be a good idea to buy bitcoin futures if the crypto asset witnesses such a major pullback. BTC’s pullback will be followed by an upswing John Kolovos, chief technical strategist at New York-based Macro Risk Advisors, told Bloomberg in an interview that bitcoin is currently undergoing a correction, but not…

Binance Jersey Lists Exchange’s New UK Pound-Backed Stablecoin

The Jersey arm of Binance has listed the cryptocurrency exchange’s own British pound-backed stablecoin. Binance announced Friday that Binance GBP (BGBP) is being offered on the fiat-to-crypto platform due to trader demand for more stablecoin options. “There has been an overwhelming demand in the market and Binance community for more stablecoin diversification, including a GBP-pegged stablecoin, and listing BGBP is in response to it,” said Binance CFO Wei Zhou. Binance Jersey launched back in January to offer trading in bitcoin and ethereum against the British pound and the euro. Jersey is a British self-governing dependency.…

US Regulator Investigating Crypto Exchange BitMEX — Report

United States regulator the Commodity Futures Trading Commission (CFTC) is reportedly investigating derivatives giant BitMEX. CFTC wants to know if Americans using BitMEX According to sources citing people familiar with the matter speaking to Bloomberg on July 19, the CFTC suspects that BitMEX, which is registered in the Seychelles, allowed U.S. residents to use its platform to trade. Under current law, the U.S. is one of the countries excluded from using BitMEX and similar crypto-based financial services, but users may have sought to circumvent the geoblock using services such as…

Short of Target: Bitcoin’s $1K Rally Still Leaves Bear Bias Intact

View Bitcoin’s short-term outlook will remain bearish as long as prices remain below $11,080 resistance. A break above that level would invalidate bearish lower-highs setup. The bulls may have a tough time forcing a break above $11,080 amid news of BitMEX exchange facing a regulatory probe and talks of harsher crypto regulation. Prices could drop below $10,000 in the next 24 hours with daily chart indicators continuing to report bearish bias. A weekly close (Sunday, UTC) above $12,000 is needed to revive the bullish view. Bitcoin (BTC) has rallied sharply…

Bitcoin Price (BTC) Rallies 10%, Dips Remain Attractive To Buyers

Bitcoin price started a strong recovery and broke the key $10,000 resistance area against the US Dollar. The price surged more than 10% and broke the $10,500 resistance to test $10,800. There was a break above a major bearish trend line with resistance near $9,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price traded as high as $10,807 and it is currently consolidating gains. Bitcoin price surged more than 10% above $10,500 against the US Dollar. BTC is currently consolidating gains and dips are…

For $15K, He’ll Fake Your Exchange Volume – You’ll Get on CoinMarketCap

The Takeaway Gotbit inflates trading volumes on obscure cryptocurrency exchanges for a fee and has about 30 token projects as clients. The firm programs bots to trade tokens back and forth with each other, creating the illusion of active markets so the assets can get listed on CoinMarketCap. Its co-founder says exchanges are aware of this manipulation but are not interested in stopping it. While it’s rare to hear market manipulators talk openly about their trade, there are other businesses like this out there, experts say. To cryptocurrency professionals trying…

Bitcoin Price (BTC) Showing Recovery Signs But Can It Break $10K?

Bitcoin price declined heavily and traded below the $10,000 and $9,500 levels against the US Dollar. The price traded close to the $9,100 level and recently started an upside correction. Yesterday’s highlighted key bearish trend line is still active with resistance near $9,740 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to face a strong resistance near the $9,900 and $10,000 resistances in the near term. Bitcoin price extended losses towards the $9,100 level against the US Dollar. BTC is currently correcting…

Grin Cryptocurrency Executes First Hard Fork

Privacy-oriented cryptocurrency Grin has just executed its first backward-incompatible upgrade, also called a hard fork. Today’s planned upgrade introduces key changes to the nearly $60-million network that will optimize for maximum miner decentralization and usability. Grin launched in January 2019. “It was planned since way before Grin launched,” Grin developer John Tromp told CoinDesk. “We would do four hard forks in the first two years, at regular six-month intervals, to introduce new features.” Tromp said that today’s upgrade did not result in a network split. Rather, the old Grin network simply…

Bitcoin Could Shed 20% & Drop to $7,400 Because Bulls Look Exhausted

Bitcoin’s impressive parabolic run may have come to its conclusion. On July 11, we warned investors that the No. 1 cryptocurrency would falter to $9,000 as it flailed overheated signals. At the time, bitcoin was bouncing and market participants were expecting a new 2019 high as the market threatened to breach resistance of $12,000. However, the cryptocurrency lost its bullish steam and it is now trading at approximately $9,700. As bitcoin continues to show signs of weakness, it could drop by another 20 percent, approximately. The price could even hit…

The Case $7.5K Could Become Bitcoin’s New Price Support

Amidst a decline in the price of bitcoin, the world’s most valuable cryptocurrency could find support at $7,500 – that is if it follows past patterns on the charts. Bitcoin has faced selling pressure over the last few days, despite an impending golden crossover on the three-day chart – a bullish crossover of the 50- and 200-candle moving averages, as discussed last week. As of writing, the 50-candle moving average (MA) is on an upward trajectory and looks set to cross above the 200-candle MA in the next few days.…