Ethereum price breaks out as 'bad news is good news' for stocks
Ether has rebounded by nearly 40% in the last six days despite persistent "bull trap" risks. Ethereum's native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears.Ether mirrors risk-on recoveryETH's price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021. Overall, the upside retracement brought bulls 40% in gains, raising anticipation about an extended recovery in the future while alleviating fears of a "clean fakeout."For instance,....
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In the end, there is no reason why Ethereum would not be able to reach the US$1bn market cap in the future, although it may take longer - or less time - than some people might want it to. Digital currency prices do not relate to positive or negative news directly, as value can go down when good news comes out, go up without a particular reason. One of the biggest questions in the world of digital currencies right now is whether or not Ethereum will be able to surpass the US$ 1bn market cap once again. Although the ETH trading price is in a bit of a slump right now, there has been a good....
That price spike we saw earlier today? There's probably a good reason for it. Blockchain.info CEO Nic Cary sent out an interesting tweet Monday afternoon with some informaiton to get the bitcoin community's hearts pumping a little harder: "This is going to be an exciting week," he proclaimed. "Some big news dropping tomorrow". Are your palms sweating yet? Of course, no indication on just what that good news is, but it's most certainly a change of pace from these last few weeks. From bitcoin price drops to the horrifying news that Mt. Gox had lost millions in user funds (and subsequently....
Okay, there is good news and there is even better news. Shall we relay the good news first? The good news is that another bitcoin company has managed to raise a substantial amount of money, which it will likely use to grow and expand over the next quarter. The even better news is the fact that despite massive fluctuations in price, the recent attacks and hackings (the most recent involving Coinbase) and the overall level of doubt surrounding the digital currency, bitcoin is continuing to make a name for itself and pave its way through the crowds with a loyal group of followers behind it.....
Bitcoin has a tendency to spike on Monday and Tuesdays after a quiet weekend with little news. New money is flowing into the different Bitcoin-exchanges and people want more action. This time it is a bit special since it's the little Christmas eve. I believe that Bitcoin might rise with more than 10% on Monday. And here is why I believe so: There will be very little negative news about Bitcoin during the Christmas holidays. Governments (that can make most of the bad news) are off to their own holidays. People are in a happy mood where they want to see positive news. This will keep....
MKR’s price shows strength as the price breaks out of a downtrend with good volume with eyes set on $1,200. MKR bounced from a low of $600 as the price rallied to a high of $1,000, preparing for a rally as the price eyes $1,200 key resistance. The price of MKR continues to trade above 50 Exponential Moving Average (EMA) on the daily timeframe. The price actions shown by Bitcoin (BTC) have affected most altcoins negatively as some have lost their key support, but Maker Dao (MKR) continues to show immersed strength as price breaks out of a long downtrend movement. The Consumer Price....