Bitcoin Latest Correction Prepares Ground for $30K Test: Analyst
A downside correction in the Bitcoin market at the beginning of this week may prepare a fresh run-up towards $30,000, says Teddy Cleps.
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A task force in Nepal has proposed legal changes allowing the country’s central bank to issue its own digital currency. The move comes after a study indicated that such an initiative is feasible and recommended certain provisions that would authorize the regulator to proceed with its realization.
Nepal Central Bank Prepares Legal Ground for National Digital Currency
The Nepal Rastra Bank (NRB) is ready with revisions to the law determining its powers and responsibilities that would allow the monetary authority to issue a digital version of the country’s fiat....
Bitcoin’s attempt to reclaim higher ground above the $73,000 region has taken another turn, and the leading cryptocurrency is now back to trading below $70,000. This latest price action has played out exactly like a warning issued days earlier by a technical analyst who stated that the breakout many traders were waiting for would ultimately […]
The first exchange-traded fund (ETF) providing direct exposure to XRP prepares to launch this week. Following the considerable attention already garnered by futures-based XRP ETFs, ETF expert Nate Geraci says this debut is a moment that will test the strength of investor interest. Many in the market now wait to see if the new fund […]
Following bitcoin’s sharp pullback on November 26, renowned trader Peter Brandt says BTC is likely to see a further correction, although he thinks prices have not topped. The comments follow the massive sell-off of cryptos that resulted in traded volumes of $8.5 billion being recorded across exchanges in just 24 hours. According to Messari, this is the second-highest traded volumes figure ever recorded. Prior to the bears taking over, BTC had gone on an extended bull run and during the run up, many analysts predicted the digital asset would at least breach the $20,000 mark. However,....
On-chain data may suggest short-term Bitcoin holders could be behind the latest correction in the cryptocurrency’s price. Bitcoin Short-Term Holders Behind The Correction? As pointed out by a CryptoQuant post, on-chain data may hint that selling from short-term holders might be the drive behind the recent correction. The relevant indicator here is the Spent Output […]