Bitcoin erases May crash losses as BTC price rebounds to $44K
Indicators suggest that Bitcoin is looking to repeat the October 2020-like rally that sent the prices from $10,000 to $65,000. Bitcoin (BTC) price reacted as high as $44,600 on Aug. 7, the highest level since before the infamous May 19-crash. Meanwhile, there are increasing speculations that BTC could undergo a similar upside boom like the one that began in October 2020.Bitcoin reached $44,600 before correcting lower on profit-taking sentiment. Source: TradingView.comAt least two indicators expected Bitcoin to pursue massive uptrends. The first one was Glassnode's Entry-Adjusted Net....
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The price of an ounce of gold dropped dramatically this week, slipping under the $1,700 handle to $1,688 per ounce on August 8. On Monday, gold regained some of the losses jumping 2.36% back above the $1.7K region to $1,727 per ounce of fine gold. Gold’s Volatile Movements This Weekend Blamed on a Number of Elements While bitcoin (BTC) prices are up more than 4% on Monday and over 16% during the last week, the value of gold has been dropping lower in fiat value. On August 6, 2021, the price of gold per ounce was trading for just over $1,800 per unit and slid to $1,688 per unit two....
FOMC Chair Jerome Powell assured investors that the Fed is ‘not trying to induce a recession’ in the United States.
Despite the crypto market recovery, a large number of Cardano holders are still nursing losses, leading to speculations as to why this is the case. Data from IntoTheBlock shows that the altcoin is the worst performer in terms of profitability when it comes to the top 10 largest cryptocurrency by market cap, disappointing holders and long-term believers. Cardano Profitability Sits At Only 15% The Cardano profitability has remained low since the market crash of 2022 and even with the market recovery, the majority of investors are still underwater on their investments. This comes as the ADA....
ANC price risks becoming overheated, however, after a major rally. Anchor Protocol (ANC), the decentralized finance (DeFi) platform built on the Terra blockchain protocol, rebounded nearly 300% in over a month after bottoming out near $1.26.ANC price went as high as $4.97 on the Bitfinex cryptocurrency exchange on March 3, 2022, breaking above the previous record peak near $4.50 established on Dec. 3 last year. In doing so, the Anchor Protocol also erased all the losses it had incurred during what some called the "crypto winter" that started in Q4/2021 — against the prospects of the....
XRP has been facing some immense pressure over the past few days and weeks, with the recent SEC lawsuit and an onslaught of exchange delistings rocking its price action The crypto is now trying to gain some momentum, with bulls stepping up and propelling the token higher overnight following a break above a key technical pattern Where the token trends in the mid-term will undoubtedly depend largely on whether or not bulls can sustain their […]