Bitcoin Price Analysis: Bullish Rejection Wipes Out Bitcoin’s Weekend Gains

Over the weekend, a strong rally was stifled by an even stronger rejection as the bitcoin market was shoved into a band of overhanging resistance. This band of resistance has been mentioned several times in our analyses over the last few weeks as it has proven impossible to overcome for the time being: Figure 1: BTC-USD, Daily Candles, Failed Breakout This run to the low $4,000s coincided with a breakout of a rather large symmetrical triangle consolidation shown above. It managed to establish a new, local high but was immediately…

Bitcoin Crawls Past $3,800, But You Shouldn’t Trust This False Recovery

The bitcoin price started Monday with a small recovery to compensate for Sunday’s massive losses, but crypto investors shouldn’t get their hopes up. Bitcoin (BTC/USD) established its intraday high at $3,861, up around 1 percent for the 24-hour period. On Sunday, the pair dropped approximately 10 percent in just 9 hours – a dump, precisely. It started consolidating upwards after finding a new low at $3,721. At the same time, the bitcoin market reported lower intraday volume and volatility, indicating that the bearish action was still far from over. Bitcoin…

QuadrigaCX and the Million Dollar Questions: What We Do and Don’t Know

QuadrigaCX Exchange’s founder, Gerald Cotten, passed away more than two months ago, and with his death, the keys to the exchange’s cold storage allegedly went to the grave with him. This is the story that QuadrigaCX is sticking to in the posthumous mess that has followed its founder’s death. The situation has been likened to a second Mt. Gox, with some of the biggest differences being that we don’t know whether or not QuadrigaCX is solvent and there’s no hard evidence of foul play on behalf of the exchange. But…

Coinbase Exchange Users Can Buy and Sell XRP Starting Tomorrow

Crypto exchange Coinbase is launching support for XRP, the third-largest cryptocurrency by market capitalization. The exchange announced Monday it would be listing XRP on its professional trading platform, Coinbase Pro, in “transfer-only” mode, meaning customers can only deposit tokens to begin with. After a minimum of 12 hours, the company plans to activate other trading services, though this timeline is variable. Initially, Coinbase Pro customers in the U.S. (excluding New York state), the UK, some EU nations, Canada, Singapore and Australia will be able to access XRP, with support for…

Bitcoin Price Must Hit This Key Level to Exit Bear Market

In the wake of Sunday’s crypto massacre, shell-shocked investors have been left with dashed dreams and a lingering question: Will bitcoin’s bear market ever end? Crypto brokerage BitOoda says that the answer lies in two price levels: $4,200 and $6,000 – levels with which retail buyers need to become more acquainted. Bitcoin Price Facing Strong Resistance at $4,200 Writing in a note to clients on Monday, BitOoda Executive VP of Institutional Sales Brian Donovan said that the sell-off demonstrated that the ~$4,200 level had become a significant level of resistance…

Logs, metrics, and the evolution of observability at Coinbase

Up until mid 2018, the only supported way to generate custom metrics for an application at Coinbase was to print to standard output. Each printed line would work its way through a series of pipelines where they could be analyzed, transformed, and parsed until finally landing on an index in our monolithic self-managed Elasticsearch cluster, where engineers could build visualizations and dashboards with Kibana. This workflow represents the best of many worlds. Log entries are easy to generate, and because they can contain fields with unlimited cardinality at microsecond granularity,…

Security Token Startup Templum Shifts to Private Blockchains

Security token specialist Templum is shifting from public to private blockchains. Announced Monday, enterprise software vendor Symbiont is building a private blockchain and smart contracts system that Templum will use for future security token offerings (STOs) by its clients. Previously, the regulated broker-dealer left the choice of blockchain protocol up to the issuers, but this posed problems, Templum CEO Christopher Pallotta told CoinDesk. Many were choosing ERC-20 tokens that run on top of ethereum, said Pallotta, but that network’s well-known scaling challenges meant trading could be hampered during periods of high transaction…

Dow Surges 140 Points While Crypto Investors Reel after Bitcoin Blackout

The Dow barreled toward a 140 point gain on Monday after US President Donald Trump announced a delay to the US-China trade deadline. Cryptocurrency investors, meanwhile, were left searching for answers after the bitcoin price crashed below $3,715 just hours after pushing toward $4,200. Dow Sees Triple-Digit Climb, S&P 500 Looks to Jump Past 2,800 As of 8:41 am ET, Dow Jones Industrial Average futures had soared 157 points or 0.6 percent, implying a gain of 140.19 points at the open. Nasdaq futures outperformed with a 0.69 percent surge, while…

US Government Returns Bitcoins Retrieved Following 2016 Bitfinex Hack

Bitfinex has announced that some of the bitcoins stolen in a major 2016 hack have been returned after they were retrieved by the U.S. government. In a blog post published Monday, the exchange said that 27.66270285 BTC – worth just over $104,000 at time of writing – have been received from the U.S. government, and come as the result of U.S. law enforcement efforts. Bitfinex said that, since the hack, it has been collaborating with international law enforcement agencies “to provide intelligence and assist with investigations,” adding: “Bitfinex was alerted in…

Factors Behind Sunday’s Crypto Market Dump

On February 24, the Bitcoin price plunged from $4,190 to $3,714 within minutes by 11.3 percent against the U.S. dollar. While many traders were not taken aback by the sudden drop in the price of the dominant cryptocurrency, some were surprised by the magnitude of it in a short time frame. Bitcoin 1-Day Price Chart, Source: TradingView In an exclusive interview with CCN, cryptocurrency technical analyst and trader Josh Olszewicz suggested that the Chicago Mercantile Exchange (CME) Bitcoin futures market may have had a large impact on the downside movement…