Markets
Price analysis 4/18: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT
Bitcoin (BTC) and most major altcoins have started the new week on a soft note and the Crypto Fear and Greed Index has dropped into the “extreme fear” zone, suggesting that investors are still nervous. Bitcoin has declined about 17% year-to-date while the Nasdaq 100 has dropped about 16% during the same period, indicating a tight correlation between the two. In comparison, gold has risen more than 10% in 2022 and its 50-day correlation coefficient with Bitcoin “is around minus 0.4, the lowest since 2018,” according to journalist Colin Wu. Daily cryptocurrency market performance. Source: Coin360 Although the crypto price action has remained bearish, the declining balance of Bitcoin on the crypto exchanges indicates that long-term investors are unperturbed and continue to accumulate at...
Here’s how Ether options traders could prepare for the proof-of-stake migration
Ethereum’s long-awaited transition away from proof-of-work (PoW) mining has recently suffered another delay and is expected to occur in the second half of 2022. Ethereum developer Tim Beiko stated on April 13 that “it won’t be June, but likely in the few months after. No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum.” An automated increase in mining difficulty designed to make PoW mining less attractive is set to become active around May. Known as the “difficulty bomb,” it will eventually make blocks “unbearably slow,” forcing the upgrade to a proof-of-stake (PoS) network. Such news might have negatively impacted Ether’s (ETH) price, but it creates an immense opportunity for those betting on the ...
Top 5 cryptocurrencies to watch this week: BTC, XRP, LINK, BCH, FIL
Bitcoin (BTC) and most major altcoins have been relatively quiet during the holiday period from Good Friday onward. This suggests that cryptocurrency traders are not initiating large bets during the period when the U.S. equities markets are closed. That could be because of the tight correlation between Bitcoin and the S&P 500 and the uncertainty about the equity market’s performance in the next week. While some analysts expect weakness in the near term, others believe that Bitcoin could be in a consolidation phase with a large portion of its upside in the four-year halving cycle yet to come. Josh Olszewicz, head of research at alternative asset management firm Valkyrie, said: “Interesting. Maybe we never got the blow-off top…because it hasn’t happened yet.” Crypto mar...
QSP, XDB and AST post double-digit gains amid sideways moving market
Activity across the cryptocurrency market has been largely subdued on April 15 as traders in the United States have taken an early weekend thanks to the closure of financial markets for the observance of Good Friday. A survey of the top 20 tokens indicates a relatively flat trading day, with Bitcoin (BTC) clinging to support above $40,000. Several lower-ranking altcoins managed to post double-digit gains on the back of recent protocol developments. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Quantstamp (QSP), DigitalBits (XDB) and AirSwap (AST). Quantstamp launches NFT Combinator Blockchain security and code audit provider Quantstamp l...
Altcoin Roundup: Analysts give their take on the impact of the Ethereum Merge delay
The rollout of Ethereum 2.0, or Eth2, includes a transition from proof-of-work to proof-of-stake that will supposedly transform Ether (ETH) into a deflationary asset and revolutionize the entire network. The event has been a trending topic for years and while anticipation for “The Merge” has been building over the past couple of months, this week Ethereum core developer Tim Beiko informed the world that “It won’t be June, but likely in the few months after. No firm date yet.” Delays in Ethereum network upgrades are nothing new and so far, the immediate effect on Ether’s price following the revelation has been minimal. Here’s what several analysts have said about what the merger means for Ethereum and how this most recent delay could affect ETH price moving forward. Staking Rewards ex...
Coinbase exploration report leads to over 100% price gains for MITX, KROM and BDP
United States-based cryptocurrency exchange Coinbase sent waves across the cryptocurrency ecosystem on Apr. 11 when it released a list of 50 crypto assets that were under consideration for listing in the second quarter of 2022 in a bid to increase the transparency of its listing process. Responses to the release were mixed and led to some allegations of insider trading by crypto sleuths, while a majority of crypto traders took a deeper dive into the list in an attempt to discover diamonds in the rough. Following a week’s worth of trading that saw many of the tokens on the list experience pump-and-dumps, the dust is beginning to settle revealing Morpheus Labs (MITX), Kromatika (KROM) and Big Data Protocol (BDP) as the top three gainers from the Coinbase announcement. Morpheus Labs Mor...
Price analysis 4/15: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT
Bitcoin (BTC) remains closely correlated with the S&P 500 but the institutional investors do not seem to be waiting for a turnaround in the United States’ equities market or decoupling to happen before buying more Bitcoin. Notably, 30,000 Bitcoin moved out of Coinbase Pro in a single day, suggesting strong institutional demand. MicroStrategy, the publicly listed company, which is the largest single-wallet holder of Bitcoin, does not seem to be content with its stash of 129,219 Bitcoin. In a letter to shareholders, the firm’s CEO Michael Saylor said that the company aims to “vigorously pursue” and “increase awareness” about its Bitcoin strategy. Daily cryptocurrency market performance. Source: Coin360 Another entity that has been at the forefront of Bitcoin purchases in the p...
KuCoin NFT launch platform, KuCoin IGO, is live and Pikaster is the first project
KuCoin, a leading crypto exchange, on April 8th launched its NFT launch platform called KuCoin IGO. The platform will serve as a platform for IGOs – Initial Gaming Offerings – for NFT and blockchain gaming projects. KuCoin IGO is intended to fuel growth in the metaverse, Web3, and blockchain gaming industry since KuCoin believes that gamification and NFTs will play a key role in the virtual worlds of the future. While announcing the launch of the IGO platform, KuCoin CEO Johnny Lyu said: “The metaverse is one of the most exciting topics of today, and a brand-new way of life in the near future. When both giants such as Meta, Amazon, and Tencent and wealthy investors such as Elon Musk are heavily investing money, talent, and technology into the metaverse, one must believe that thi...
Here’s why Chiliz (CHZ) multi-team NFL partnership and Web3 expansion plan could be bullish
One of the biggest challenges cryptocurrency projects face is finding the right type of real-world integration and a use case that can spark a new waves of adoption. Integrating blockchain and cryptocurrency with professional sports has been the expected “next wave” for some time and Chiliz (CHZ), a protocol focused on creating a fan engagement platform for various sports leagues, made headlines for its new developments this week. Data from Cointelegraph Markets Pro and TradingView shows that the price of CHZ has increased 69% from its 2022 low of $0.144 to hit a daily high of $0.256 on April 13. CHZ/USDT 1-day chart. Source: TradingView CHZ price has been building momentum and a new partnership between the Socios.com fan engagement platform and thirteen National Football Leagu...
Is the surge in OpenSea volume and blue-chip NFT sales an early sign of an NFT bull market?
In the last two months, OpenSea began to cool down from its New Year’s bull run and many nonfungible token (NFT) pundits began to speculate about the beginning of a bear market once sales took a slight downward trend after closing out a record-breaking $5 billion in total volume sales in January. However, for the last seven days, the total sales volume has already exceeded the $1 billion mark and just a week into April, it seems the NFT markets are waking up to a resurgence of blue-chip caliber projects. Cue the “spring awakening.” OpenSea Monthly Volume. Source: DuneAnalytics @rchen8 Traders searching for the next Bored Ape Yacht Club (BAYC) project have patiently waited for another project to come in with the same force and brand equity. Some top contenders have been emerging...
Bitcoin price slides below $40K following a ‘lackluster’ breakout
Extreme fear is once again the dominating sentiment across the cryptocurrency community after Bitcoin (BTC) faced another day of trading below the $40,000 level and the United States grapples with the highest Consumer Price Index (CPI) print since 1981. Crypto Fear & Greed Index. Source: Alternative.me Data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt to rally above $40,000 ran into a wall of resistance at $40,650 and BTC price eventually tumbled back below $39,600. BTC/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts are saying about the current state of Bitcoin and what could potentially come next as financial markets grapple with an increasing amount of uncertainty. Bitcoin is simply re-testing a major S/R zone ...
What are the worst crypto mistakes to avoid in 2022? | Find out now on The Market Report
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the worst mistakes you should avoid making in crypto. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they talk about the worst crypto mistakes to avoid making in 2022. First up, we have Bourgi, who thinks investors should avoid “analysis paralysis.” In other words, don’t overanalyze. Make decisions based on firm conviction. Don’t just look at the price of a coin or token you’re interested...
