Bitcoin Surges to $8k then Drops to $7.6k – $7.7k In Massive Short Squeeze
Bitcoin had some insane price action over night. It went from $6.8k, to $8k, then back to $7.6k – $7.7k as shorts (at a record high at the time) had to cover their positions.
Is U.S. Tax Season a Threat to Crypto Prices?
U.S. taxes are due April 17th. Some speculate that money will rush out of crypto before and in after. Both of those things are logically possible.
Using Your Intuition to Manage Your Crypto Position
Logic is super useful for investing and trading, and the fundamentals and trends are your friend, but your intuition can help you figure out if you are under-extended or over-extended.
Bitcoin Inching Up Toward $7k Again, Alts Perform Well; Otherwise Uncertainty
Bitcoin has been rather rangebound recently, bouncing between strong support in the mid-$6ks and some resistance around $7k. Meanwhile, many alts have preformed well in this environment.
Remember to File Your Crypto Taxes or File For an Extension by April 17th
April 17th is the U.S. tax deadline to file and pay taxes for 2018. U.S. residents will need to file their crypto taxes or file an for an extension by then. This is true for both state and federal taxes.
Nano Lawsuit Could Result in “Rescue Fork”
The developers of Nano (XRB), previously called RaiBlocks, are being sued over a BitGrail hack. Both Nano and BitGrail are working towards compensating victims of the hack. Compensation may include a “rescue fork.”
The GBTC and KimChi Premiums are Melting Away
The GBTC and KimChi premiums (explained below) are at some of the lowest points they have been in months. How one should interpret that is in question.
Crypto is in an Undecided State… and it Likely Has Little to Do With News and Events
Bitcoin is sitting at about the price it was before the mania kicked in last year ($6.6k-ish). There is a lot of buy pressure, and a lot of sell pressure. Although the approaching U.S. tax deadline is relevant, the price likely has little to do with recent news and events.
Coinbase Announces Support for Bitcoin Forks
Coinbase has come out and eluded to supporting forks, but now they have officially announced support for Bitcoin forks and other forks.
Watch For Bounces in the Alt Market
As cryptocurrency experiences volatility in the short term, there is likely to be a lot of little rallies. On each rally altcoins have a chance of bouncing.