Cryptocurrency News Roundup for March 12, 2020

Cryptocurrency News Roundup for March 12, 2020
фото показано с : beincrypto.com

2020-3-13 11:21

It’s the textbook example of a market bloodbath — there’s no way to sugarcoat it. Cryptocurrency traders who didn’t get a chance to react had the worst of it.

Almost $100 billion was wiped from the market cap over the past 24 hours, with Bitcoin closing 38% in the red and some major altcoins lost nearly 50%. Here’s a quick recap of some of the major new developments that unfolded on Thursday.

Comparing Bitcoin’s Current Crash to That of 2018

Bitcoin came all the way down to $3,860 just a few hours ago — the lowest price in almost a year. The move is reminiscent of the crash of November 2018, which dragged BTC down to the December low of $3,281. If the price continues following this fractal, it should consolidate between the $5,000-$6,000 area until July 2020 before breaking out.

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Bitcoin’s Flash Crash Could Be an Indicator of What’s to Come

Bitcoin is not closely correlated with the stock market, but there is some relationship. This has caused some to speculate whether today’s extreme drop is an indicator that we might see the same in the overall financial market soon enough.

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Cryptocurrency Exchanges in Meltdown

With Bitcoin, and by extension, the broader cryptocurrency market down on its knee, exchanges are having a tough time handling growing traffic. If anything, this only highlights the faults in the infrastructure and capabilities of these centralized trading venues.

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Savvy Ethereum Whales Dump Their Stash, Make Huge Profits

The flash crash from Thursday did not come out of the blue. The first alarming signs had already emerged in late February with the year’s first big dip that sent a big chunk of traders into the red. However, there is a small group of savvy Ethereum whales who took advantage of the situation and waited for the right moment to dump their stashes to earn hefty profits.

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Where Will the Bitcoin Price Make a Bottom?

Has BTC reached a long-term bottom, or are there further decreases in store? The most probable move from here is a price increase that would cause a weekly close above $6,000 and the ascending support line. The price is expected to bounce from this level and reach a weekly close above this support line.

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LINK Briefly Traded for Almost $0 on Thursday

LINK holders were among the worst-affected from Thursday’s market bloodbath. The increasingly popular altcoin reached its all-time-highs just earlier this week. It has now shed more than 40% in the past 24 hours alone. At one time, a red candle dropped as low as it could possibly go: $0.00001.

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Hungary Quarantines Billions in Cash

To prevent Forint bills from becoming a handy carrier for the novel coronavirus (COVID-19) to spread, Hungary’s National Bank (MNB) has started quarantining and cleaning billions in cash. This is important considering that experts from the World Health Organization (WHO) say that the virus most likely can survive on paper for four to five days, and can survive on certain plastics for up to 9 days.

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Robinhood’s Woes Don’t Seem to End

Amid serious technical glitches and system malfunctions casting doubt on traders’ minds, Robinhood yesterday drew all $200 million it had in credit as a precaution. Although, how it plans on using this massive credit line to its advantage remains a matter of speculation.

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Growing Bitcoin Dominance Rate Could be the Nail in Coffin for Altcoins

The Bitcoin dominance rate has been increasing over the past week. It has currently reached a crucial resistance level, a breakout above would confirm that the rate has begun a bullish trend. Could this be the final nail in the coffin for many altcoins?

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The post Cryptocurrency News Roundup for March 12, 2020 appeared first on BeInCrypto.

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cryptocurrency market roundup march 2020 bitcoin closing

Источник: beincrypto.com

cryptocurrency market → Результатов: 126


U.S. vs China Battle for Financial Dominance: What’s the Impact on the Cryptocurrency Landscape?

As a seasoned cryptocurrency analyst, it’s clear that the international financial system is at a critical juncture. The geopolitical tensions between the U. S. and China, the rise of CBDCs, and the need for regulation in the crypto market are all factors that could significantly impact the global economy and the crypto market.

2023-6-27 22:00


Фото:

New Token, Metamortals Aims To Overtake Axie Infinity To Lead the P2E Cryptocurrency Market

As the cryptocurrency market widens and more industry players look to improve on existing use cases, the cryptoverse may be due for a shift. As a result, we’re witnessing a rise in an ecosystem where players enjoy the full benefits of the blockchain and crypto world, from staking for high rewards to unlocking higher yields […]

2022-8-19 19:07


Фото:

“Bitcoin Is About To Make Fiat Institutions Like The IMF Obsolete,” Says Market Analysts

The cryptocurrency industry’s growth has drawn a lot of attention, especially in 2021. Commentators in government at the international and national levels have had to express their stance on the industry and in particular, Bitcoin – which is the largest cryptocurrency by market valuation as well as the pioneer cryptocurrency.

2021-9-1 19:12


Фото:

This Indicator Suggests Bitcoin is Slowly Reaching Overheated Levels as Rally Slows

Bitcoin and the entire cryptocurrency market have been caught within a firm uptrend as of late, but it has transformed into consolidation throughout the past couple of days BTC and its smaller counterparts are all trading sideways, with bears trying to gain an edge over bulls as they slowly push the cryptocurrency lower Where the market trends in the near-term should depend largely, if not entirely, on whether or not BTC can surmount $40,000 once […]

2021-1-10 22:00


Фото:

Ethereum’s Bullish Trend May Not Stop It from Seeing a Strong Correction: Analyst

Ethereum and the entire cryptocurrency market have been facing some immense turbulence throughout the past few days and weeks The selling pressure seen by the cryptocurrency within the upper-$600 region has been quite intense, and may cause it to face continued weakness One trader is now noting that where the market trends next will depend mostly, or entirely, on Bitcoin He notes note that he is looking for ETH to see a strong correction over […]

2020-12-23 01:00


Altcoins Pumping on Cryptocurrency Exchange Listing Brings Back Memories Of Bull Market

You can’t teach an old dog new tricks, but apparently, listing an older cryptocurrency on a new exchange can bring back memories of the cryptocurrency bull market that once was. An altcoin being listed on Binance has resulted in nearly a 100% intraday pump – something that hasn’t been seen since crypto prices and exuberance […]

2020-6-22 20:30


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