Bitcoin Price Analysis: Strong Rally Set to Test Overhanging Resistance

Shortly after the London Open, the entire crypto market saw a strong round of buying. Some coins broke their highest volume seen since the beginning of the bear market, and several others broke straight through overhanging resistance levels. Bitcoin, too, enjoyed a nice rally, rising almost 11% in just a few short hours: Figure 1: BTC-USD, 4-Hour Candles, Early Morning Rally This rally was very strong and sudden, running the stops of many late shorters in the crypto market. Zooming out to the daily view, we can see just how…

Can I Trust BitFury’s Peach Lightning With My Data? Maybe.

Announced at the end of January, Bitfury’s production-ready suite of Lightning Network products and services, Peach, appears to offer everything a developer, user or merchant could want from a Lightning implementation. It comes with built-in, e-commerce plug-ins, has a hardware component for point-of-sale, a toolkit for developers and its own Lightning node to ground the whole outfit. The suite, with its many uses, has a wide reach … a bit too wide, one crypto analysis group thinks. Block Digest, “a bi-weekly podcast covering the latest technical and market news related…

One Trader Thinks Recent 10% Rally of Bitcoin Could Lead to Something Much Greater: a Full-Fledged Recovery

The Bitcoin price today chartered into positive territory after weeks of bearish action near $3,400. It rose close to 10% while clearing through a stubborn resistance area of $3,480-3,500. A sudden spike is as incredible as it is scary. There are questions about its origins. Is it natural for an asset to wake from a bearish slumber and rise 10%? Now if that has happened, how severe would the next bearish correction be? And most importantly, how far BTC can extend its gains as it trends higher in its overbought…

Fake Bakkt Website Emerges but Fails to Scam Crypto Investors

A new Bitcoin (BTC) scam website has emerged. Back in 2017, when the cryptocurrency market hit mainstream news, scam sites began blowing up. Since everyone was so desperate to get their hands on digital currency or invest in a project that could give them 10X the return, the scammers often won. Now, cryptocurrency investors are much more cautious, and this new fake Bakkt website was easily identified. Fake Bakkt Website Caught In August of 2018, the Intercontinental Exchange (ICE) announced Bakkt would be launched in late-January 2019. ICE currently operates…

What’s on the Regulatory Horizon for Digital Assets in the E.U.?

When Eva Kaili first attended a blockchain conference shortly after being elected as a Member of the European Parliament for Greece in 2014, she was treated with suspicion by advocates of the then-nascent technology. “When they heard I was a politician, they didn’t want me there,” she told the crowd gathered at the luxury Andaz hotel for the recent Ripple Regionals event in London. Rather than be fazed by her reception, this inspired Kaili to be even more determined to understand the benefits of blockchain. “I believed that if we…

A Fight Is Brewing Among QuadrigaCX Crypto Exchange’s Creditors

Creditors of the failed cryptocurrency exchange QuadrigaCX are bracing for a fight – among themselves. Customers who had fiat currency balances at the exchange before it went offline and sought protection from creditors in a Canadian court last week are beginning to argue they should be paid back first from recovered assets. But they expect customers who stored crypto at QuadrigaCX to push back on such demands. And even some fiat holders say such prioritization would be unfair. “There seems to be a conflict going on between creditors themselves,” Canadian resident and…

Crypto Exchange Bithumb Launches OTC Trading Desk for Digital Assets

Bithumb Global has launched an over-the-counter (OTC) trading desk for digital assets. Announcing the news on Thursday, the firm said that the new Hong Kong-based venture – Ortus – is a “block deal, matchmaking service” for institutional clients. In an OTC deal, two parties trade directly with each other, unlike on an exchange where orders are matched between buyers and sellers. “Ortus will operate to allow institutions to buy and sell digital assets through a network of global liquidity providers and benefit from a competitive and best price execution service,”…

Bitcoin Price Watch: Upsides In BTC Likely To Be Capped

Bitcoin price is trading in a range above the $3,345 support level against the US Dollar. There is a major bearish trend line formed with resistance at $3,375 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to face a strong resistance near the $3,375 and $3,400 levels. Bitcoin price is currently consolidating losses above $3,340 against the US Dollar. BTC could correct a few points, but upsides are likely to remain capped near $3,400. Bitcoin Price Analysis There was a short-term support…