The total crypto market capitalization has bounced from just below $200 billion on April 22 to over $214 billion at press time. This is a positive sign as it shows that the sentiment is to buy the dips. If the market capitalization rises above $217 billion, it would open the gates for a rally to about $250 billion. A positive sign during the recent bullish move has been that along with Bitcoin several altcoins have also shown strength. As Bitcoin halving nears, tweets regarding “halving “ have picked up and are currently ranked second among the topics discussed related to …

The recent carnage in US crude oil futures and the selling in Brent affected the equity markets but did not cause any noticeable fall in the crypto markets. This is a positive sign as it suggests that the crypto markets are gradually decoupling from other assets that are perceived as risky. A recent Bloomberg report outlined several reasons to support their view that Bitcoin is ready for a bull run in 2020. According to Bloomberg, “the unprecedented monetary stimulus” in the wake of the COVID-19 crisis will benefit both gold and Bitcoin. It has said that Bitcoin will become digital …

WTI crude oil price today plunged over 92% to hit an intraday low of $1.1 per barrel at press time, a level which none of us would have even imagined to see just a few months back. This year alone, the asset class is down by over 98%. Excess production, a sharp drop in demand due to the ongoing pandemic, margin calls and the rising popularity of electric cars are some of the factors that have soured sentiment in the asset class. Though the fiat currencies have held up well during the current crisis, the incessant money printing, loss of …

With Bitcoin’s (BTC) halving less than 23 days away, traders would like to go into the event with strong bullish sentiment but this is yet to be determined. If Bitcoin is able to breakout and sustain above its overhead resistance, it is likely to pull the crypto markets higher. The first sign of strength would be if the total market capitalization can sustain above the $211 billion mark. Crypto market data daily view. Source: Coin360 Although Bitcoin is the leader, there are a few altcoins that are showing promise and could outperform the largest cryptocurrency next week. Here are the …

Binance chief executive officer Changpeng Zhao said that trading activity across major crypto exchanges had increased between 3 to 5 times. This is a bullish sign as it “means there are a lot more people coming into the industry.” While quantitative easing and fresh money coming into cryptocurrencies is a positive development, the bull run might not start immediately. However, in the long run, as the supply of fiat currency increases, Zhao said that “mathematics will eventually work” as Bitcoin is a limited asset. In the short-term, Bitcoin’s halving is an important event that can increase the volatility. PlanB,the creator …

Lately, a great deal of attention has been focused on the correlation between Bitcoin and the S&P 500, meaning crypto traders need to keep track of the fundamentals of the equity markets. Global markets continue to be negatively impacted by the coronavirus pandemic and according to a report from the International Monetary Fund, the resulting lockdown in several countries will lead to one of the worst contractions in 90 years. According to the IMF, “even if the spread of the virus peaks in the second quarter for most countries in the world, and recedes in the second half of this …

Since dropping to a 2020 low at $6.34 on March 13, Binance Coin (BNB) has been on an absolute tear, gaining 151.48% to reach a 4-week high at $15.93. Unlike Chainlink (LINK), the recovery has been slow and steady as BNB flipped systematically flipped multiple resistance levels to support. Aside from the strong oversold bounce that saw many cryptocurrencies snatch back the majority of their March 13 losses, news that Binance exchange will host an IEO for Cartesi starting April 21 could be partially responsible for the most recent leg of the pump to $15.93. Many Binance IEOs require investors …

Famed investor Mike Novogratz believes that additional crypto adoption and more drastic central bank actions will benefit Bitcoin. The Galaxy Digital CEO said that hedge funds and high-net worth individuals have been buying Bitcoin (BTC). However, Novogratz expects the U.S. equity markets to go down, hence, he “got short Friday for the first time in a while -- both stocks and credit.” Several analysts have suggested that the current crisis is likely to be far worse than the previous financial crisis, which led to the birth of Bitcoin. Gemini co-founder Cameron Winklevoss said that the current coronavirus “pandemic will be …

The number of Bitcoin whales holding at least 1,000 BTC has been rising for the past few months, according to a report by Glassnode. The report also highlights that the accumulation continued during the recent slump on March 12 and 13 when Bitcoin’s price dropped below $4,000 levels. This suggests that the whales are bullish on Bitcoin due to the upcoming halving event in May. Canadian asset manager 3iQ has launched “The Bitcoin Fund,” on the Toronto Stock Exchange (TSX), which is tied to Bitcoin. Tyler Winklevoss said that this was a historic moment as it was “the first public …

Central banks around the world have pumped up their economies with huge stimulus measures. JPMorgan Chase’s chairman and CEO, Jamie Dimon, praised the United States for taking swift action to counter the current economic crisis. Despite the kind words, in a letter to JPMorgan shareholders, Dimon warned that the future “will include a bad recession combined with some kind of financial stress similar to the global financial crisis of 2008.” Ballet CEO and founder Bobby Lee expects Bitcoin to reach $10,000 by its block reward halving next month. Lee expects the governments to continue to print huge sums of money …

Cryptocurrency exchange OKEx announced a new feature that allows its users to convert small balances to the firm’s proprietary token OKB. OKEx announced on April 7 that the new product allows its user to convert all the crypto asset balances worth less than 0.001 Bitcoin (BTC) ($7.38 at press time) into OKB. The upper limit for conversion value is 0.01 BTC ($73.84 at press time), there is no limit on conversion time but the conversion is only available when the price fluctuates within 5%. A trader told Cointelegraph that small balance handling is an important feature for long-term traders because …

During a crisis, the first thing panic-stricken investors do is to sell almost every asset class they perceive is likely to go down. However, after the panic settles down, the bottom fishers step in and start buying the assets that show value. We have seen both of these phases play out for cryptocurrencies. The sharp selloff on March 12 was a good example of panic and the sharp correction was quickly followed by a phase of cherry-picking by long-term investors. Since bottoming out on March 13, most major cryptocurrencies have rebounded and continue to press higher. After the selling ends, …