Mass adoption of blockchain tech is possible, and education is the key

Blockchain technology is one of the most promising technologies of our times, and the core concept of it is really simple. Essentially, it is a public ledger or database, and I think that public education about what blockchain actually is can be the key to its mass adoption. Lack of knowledge and perception from the general public of the differences between blockchain technology and cryptocurrency are the major hurdles of mainstream adoption. Hollywood and the mass media still portray the industry as having a deep criminal element, associating it with…

Bitcoin Settles Above Key Support, Why BTC Could Revisit $60K

Bitcoin price started a fresh increase above the $55,000 resistance zone against the US Dollar. BTC tested $58,500 and it remains elevated for a move towards the $60,000 zone. Bitcoin is showing positive signs and it recently tested the $58,500 resistance zone. The price is now trading well above $55,000 and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $55,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could correct losses, but it is likely…

2 key Ethereum price metrics prove pro traders are behind ETH’s new highs

As Ether (ETH) made a $2,800 all-time on April 29, so did its futures open interest. The $8.5 billion figure marks a 52% monthly increase and shows robust trading activity behind the meteoric price rise. Some analysts might dismiss Ether derivatives, considering CME’s future has $355 million in open interest compared to Bitcoin’s $2.4 billion. However, Ether contracts were only launched a couple of months ago. Both FTX and Deribit require 100% full-KYC for their clients, and these markets hold a combined $2 billion in ETH open interest. Ether futures…

Bitcoin Revisits Key Support, Here’s What Could Trigger Sharp Increase

Bitcoin price extended its decline below the $54,000 level against the US Dollar. BTC is holding the $52,500 support, but it must clear $54,000 for a fresh increase. Bitcoin failed to stay above the $54,000 support and extended its decline. The price is now facing resistance near $54,000 and the 100 hourly simple moving average. There is a major declining channel forming with resistance near $54,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either rally above $54,000 or it might extend its…

Key Bitcoin price metric flashes its first bullish signal in 4 months

Bitcoin (BTC) has been struggling to sustain above the $53,000 support for the past three days, while Ether (ETH) soared to a new all-time high at $2,800. In the current scenario, some traders would rather wait for Friday’s CME futures expiry before entering long BTC positions, as historically, its price tends to correct ahead of the event. Ether and Bitcoin prices at Coinbase, USD. Source: TradingView On the other hand, Ether’s price has been positively impacted by the European Investment Bank launching a “digital bond” sale using the Ethereum network.…

Bitcoin Struggles Near $56K, Here’s Why 100 SMA Is The Key

Bitcoin price spiked above the $56,000 resistance against the US Dollar, but it failed to continue higher. BTC is could correct lower, but the 100 hourly SMA is likely to provide support. Bitcoin extended its rise above the $55,500 and $56,000 resistance levels. The price is now trading well above $54,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $54,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could dip towards the $53,000 support…

Ripple (XRP) Could Surge If It Settles Above This Key Hurdle

Ripple started a fresh increase after testing $1.00 against the US Dollar. XRP price is likely to surge further if it clears the $1.45 and $1.46 resistance levels. Ripple is showing positive signs above the $1.25 and $1.30 resistance levels against the US dollar. The price is now trading well above $1.3200 and testing the 100 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $1.15 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair is likely…

Key Fundamental Data Suggests Bitcoin May Defy Bears

Last weekend, the Bitcoin price fell below the psychologically significant support level of $50,000. Furthermore, the 50 day moving average was breached to the downside and some popular technical indicators – such as the MACD – are flashing bearish warnings. The confluence of downwards price action, bearish signals, and negative news flow (primarily; a rumored US regulatory crackdown and the Turkish ban & double exchange failures) suggests a bleak outlook for BTC… So, is Bitcoin doomed? Recent Drop Brings Return Of Bitcoin Doomsday, But There’s Still Hope Left Fortunately, there…

Bitcoin Makes Comeback, Here’s Why $53.5K Holds The Key

Bitcoin price tested the $47,000 support zone before starting a recovery against the US Dollar. BTC is showing positive signs, but it might face hurdles near $53,500. Bitcoin is rising and it is trading nicely above the $50,000 pivot level. The price is now trading well above $51,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $51,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to rally if there is…

Bitcoin Dives Below Key Support, Here’s Why BTC Bears Are Back

Bitcoin price failed to stay above the $54,000 support against the US Dollar. BTC is declining and it is likely to accelerate losses below the $50,000 support zone. Bitcoin is declining from well above $55,000 and it broke the $53,500 support. The price is now trading well below $52,000 and the 100 hourly simple moving average. There was a break below a major declining channel with support near $52,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue lower below the…