Alts See Sell off While Bitcoin Attempts to Hold $6 Again
Bitcoin has resisted dropping below $6k yet again, unfortunately most altcoins from Ethereum down are mostly in panic mode with Ether taking an usually big hit.
Bitcoin (BTC)
Bitcoin is the most commonly known cryptocurrency. It’s a decentralized digital currency that is secure and private and can be used in transactions worldwide. It carries with it a number of pros and cons and is currently rather volatile.
In this section we discuss everything Bitcoin including how it works, what it’s worth, how you can “mine Bitcoin”, and more.
Bitcoin Dominance At Over 50% For the First Time in 2018
Bitcoin dominance reached a 2018 high of 50%. Dominance is up from a 33% year low. That means half the market cap of all cryptocurrency is now in Bitcoin alone. Unfortunately for holders this can be attributed to a decline in the alt market rather than a growth in Bitcoin.
Bitcoin Weakness is Rubbing off on Alts… Oh Crypto Bubbles, You Never Change
Yet again in the history of crypto, a crypto bubble is popping and Bitcoin’s weakness is rubbing off on alts (most of which are exaggerating Bitcoin’s losses over time). In these times it helps to zoom out to look at how crypto holders made gains over time despite events like this in the past.
Satoshi and the Giant Falling Wedges
One could argue that most crypto charts, in most trading pairs, are forming giant falling wedge patterns (a bullish reversal pattern). This wouldn’t be the first time this sort of pattern has occurred in crypto and resulted in the start of a new market cycle.
Bakkt; The Biggest News for Crypto in 2018 if Not Ever
Bakkt is un upcoming exchange by the Intercontinental Exchange ICE (the parent company of the New York Stock Exchange NYSE). This is pretty much the biggest crypto news of 2018, if not ever. I explain why.
Bakkt
Bakkt is an upcoming exchange by the Intercontinental Exchange ICE (the parent company of the New York Stock Exchange NYSE). Bakkt “will enable consumers and institutions to buy, sell, store and spend digital assets on a seamless global network.”
Move Over ETF, there is a Ton of Bullish News to Go With this Correction
There is a ton of bullish news for crypto this week (for example Starbucks entering the crypto space) despite a correction that started over a panic over a Winklevoss ETF no one cared about until it was suddenly rejected again.
Death of the Bear Market By Way of a Thousand Golden Crosses (Maybe)
Bitcoin’s weekly chart, Ether’s daily, Litecoin’s daily, and many more are all setup for a range of golden crosses. Simply put, many short term averages are about to cross over long term averages on the higher time frames… which is a bullish setup.
Did the Bitcoin ETF Get Postponed?
The CBOE exchange has submitted more than one proposal to the SEC to have Bitcoin ETFs listed. The SolidX shares ETF is on track for its August approval deadline. The Direxion ETFs submitted in January got a deadline extension until September. In short, one of the two deadlines was postponed, but the one that was postponed isn’t the one everyone is excited about.
Bitcoin Makes Gains in July Breaking $8k
Bitcoin made some serious gains in July after hitting its 2018 bottom in late June and then completing an inverted head and shoulders reversal pattern. The reversal was in part sparked on by an upcoming Bitcoin ETF. So far Bitcoin is trading above $8k. Let’s look at how we got here and what might happen next.