A lot of hype was built up before the Coinbase listing on the Nasdaq on April 14 and several cryptocurrencies rallied in the run-up to the event. However, traders usually buy the rumor and sell the news. In this case, they bought until the event, and then several investors seem to have booked profits aggressively.…
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During strong uptrends, the best practice is to buy on significant dips as profits are produced when the price quickly rebounds from oversold conditions. This appears to be what happened on April 18 as traders jumped at the opportunity to buy Bitcoin and altcoins at lower levels. However, no market can keep going up in…
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The price of Binance Coin (BNB), the native cryptocurrency of Binance and Binance Smart Chain, rallied by more than 20% in the last 24 hours. BNB/USDT 15-minute price chart (Binance). Source: Tradingview.com The swift recovery comes after a market-wide correction on April 18, during which major cryptocurrencies including Bitcoin (BTC) and Ether (ETH) saw a…
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Dogecoin’s (DOGE) massive rally to $0.45 propelled it to a market capitalization of over $54 billion to make it the fifth most valuable cryptocurrency by market cap. This lofty market cap comes as a surprise to many since the project has no active developers and is only a meme coin, thus the current rally brings back…
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Coinbase (COIN) listing on Nasdaq could eventually boost cryptocurrency adoption and attract droves of institutional investors. However, that is unlikely to happen immediately. In the first few days after the listing, volatility could be high as Wall Street tries to value Coinbase. This could also increase the volatility in cryptocurrencies. Sharp movements in the price of…
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Bloomberg Intelligence senior commodity strategist Mike McGlone equated the current consolidation in Bitcoin (BTC) price to that of a “caged bull, well-rested to escape.” When compared with the rallies a year after the previous two Bitcoin halvings in 2012 and 2016, the strategist called the current price action “tame.’ According to McGlone, Bitcoin is “still…
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Bitcoin (BTC) is back with a vengeance this week as a new day’s trading gets underway with a fresh attack on $60,000. After a weekend in which the largest cryptocurrency avoided a correction, Monday is looking bullish — but what could shape price action in the short term? Cointelegraph presents five factors to keep an…
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Despite Binance supporters celebrating Binance Coin’s (BNB) chart-topping performance for Q1 2021, concerns are growing regarding the centralization of the Binance ecosystem. On April 12, Messari researcher Ryan Watkins took aim at the centralization of Binance Smart Chain’s validators, stating: “Every cycle people get hoodwinked by the latest centralized solution to all blockchains problems.” “Every…
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