‘Classic top setup’? Bitcoin price flash crashes on Kraken after all-time high

Bitcoin (BTC) reached a new all-time high on various exchanges on Nov. 30, but one record, in particular, hit the headlines for a different reason. Data from cryptocurrency exchange Kraken shows BTC/USD hit its highest ever price on its order book — then diving to $16,600 in seconds. Kraken BTC price dumps $3,000 The reason for the crash, which will have liquidated a large number of positions and caused considerable pain for many a speculator, was likely what is known as a “stop-loss run.” Stop-loss runs involve large-volume traders who…

2 counterarguments for CNBC’s Brian Kelly who sees a $19K Bitcoin top

CNBC Fast Money trader Brian Kelly sees three potential signs of a price top as Bitcoin (BTC) hits $19,000. Both fundamental and technical factors suggest a pullback could be imminent as the rally becomes overextended. BTC/USDT 1-hour chart (Binance). Source: TradingView.com Kelly named three reasons why a short-term Bitcoin pullback might occur. The reasons were the pump of altcoins, overpriced address growth and high funding rates. On Nov.25, he said on CNBC: “I’m still a Bitcoin bull. In the long run, I’m going to be a bull for the next decade.…

Top Bitcoin Mining Stocks Post Higher YTD Gains Than Crypto Itself

Key Takeaways Bitcoin mining shares have an average YTD return of 327%.  The increase in these stocks is slowly entering the “caution region,” as BTC reaches new all time highs. Additionally, Google searches for “Bitcoin” are approaching the number of searches for “Tesla Inc.” Share this article The top two BTC mining companies in America, RIOT and Marathon, have posted 492.6% and 387% gains over the past 12 months, outperforming both Bitcoin and Ether at 170% and 368%, respectively. Caution Ahead for Bitcoin Mining Stocks This year’s rise in Bitcoin…

XRP Could Be Forming a “Blow Off Top” as It Continues Pushing Higher

XRP has surprisingly been one of the best performing altcoins throughout the past few days, far surpassing the gains seen by Ethereum over the past month and even outperforming Bitcoin’s gains seen over the past week or two. This comes following a prolonged bout of sideways trading that persisted for over a multi-year period. The break above the $0.30 level – which has long been a strong resistance level – seems to be what sparked this movement, and the parabolic uptrend seen in the time since confirms the significance of…

Ethereum Shatters Critical Resistance as Top Holders Start Accumulating

Ethereum has seen some incredibly strong price action throughout the past few days and weeks, with buyers taking full control of its price action as they hold it above $500 for an extended period of time. The selling pressure seen here has proven to be quite significant, as its rally has halted in its tracks as sellers move to force it below this key level. That being said, where it trends in the mid-term may depend largely on whether or not it can post a weekly candle close above this…

DeFi Bull Run Continues as Top Coins Gain 10-30% Across the Board

After a strong pullback on Wednesday morning, decentralized finance (DeFi) coins are once again rocketing higher. Top coins pertaining to the space have gained dozens of percent in the past day, becoming the top-performing crypto assets in the top 100 by market capitalization. Bitcoin is basically flat over the past day as it attempts to consolidate between $17,000 and $18,500. BTC continuing to consolidate may allow altcoins to rally further as attention naturally shifts to coins that can make investors more money in the interim, altcoins. Related Reading: Here’s Why…

Bitcoin Approaches Top Of Accumulation Zone, Parabolic Phase Begins With Breakout

Bitcoin every four years post-halving goes parabolic and rises to a new all-time high. The ebb and flow of these cycles each time attracts new money and participants to the cryptocurrency network and keeps adoption growing. Timing when to sell is the hardest part, but knowing when to buy BTC at the best possible prices before it goes parabolic, might be as easy as buying within a long-term “accumulation zone” that has supported each of the cryptocurrency’s past bottoms. The leading cryptocurrency by market cap is now approaching the top…

HODL your horses, Bitcoin options data says $18.5K is not a local top

Earlier today, Bitcoin (BTC) price peaked at $18,476 after an impressive 35% bull run that appears to have started in early September.  This powerful movement was followed by a correction to $17,000, a natural pullback. This adjustment led some investors to question whether the current formation resembles the $13,850 top formed in July 2019. BTC/USD, July 2019. Source: TradingView Back then, a 30% drop followed a similar-sized rally, and afterwards it took Bitcoin 14 months to regain the $13,850 level. Coincidently, an intense flash crash happened right after that local…

Deloitte includes BitPay on top 500 tech companies list

As cryptocurrencies continue gaining mainstream attention, some of the industry’s native companies have also joined the spotlight. Bitcoin payment processing company BitPay joined the ranks of 499 other important technology companies today. Big Four accounting firm Deloitte sees BitPay as one of North America’s top 500 leading-edge technology outfits, as shown by its Technology Fast 500 list, BitPay announced in a public statement on Wednesday. BitPay sits in 341st position, beating social media powerhouse Pinterest, which holds the 348th spot. “The ranking is compiled based on submitted applications and public company…