Cryptocurrency News Roundup for May 24, 2020

Cryptocurrency News Roundup for May 24, 2020
фото показано с : beincrypto.com

2020-5-25 11:58

Bitcoin started the week on a much weaker note after the bulls failed to keep the BTC-USD pair afloat over the key support line at $9,100. As of writing, the benchmark cryptocurrency is down more than 5% since the intraday high of $9,300+ on Saturday and is trading at just over $8,850.

As BeInCrypto previously reported, odds are relatively high that the bears could breach the current support level at $8,800 and push the price further down to the next support level around $8,550. That would complete a possible A-B-C correction since the $10,000 high of May 9.

Meanwhile, in other big developments to have transpired over the weekend:

Grayscale Records Massive Gain in Bitcoin Fund Assets

Leading cryptocurrency investment and digital asset management firm, Grayscale Investments, confirmed late last week that its flagship Bitcoin Trust fund has scored a massive gain in its assets under management (AUM).

Compared to an AUM of just $3.2 million in Q1 2019, the corresponding figure for the same quarter in 2020 has increased to approximately $30 million. That’s a year-on-year growth of nearly 1,000%.

Read the Full Article

Bitcoin Cash On-Chain Metrics Raises Serious Questions About its Future

It’s been over a month now since the first Bitcoin Cash halving, and the troubled cryptocurrency ecosystem continues to be on a downward spiral. Not only has the BCH price so far failed to woo investors following the milestone event, but its network fundamentals are also on a steady decline.

Even economic activities on the BCH chain appear to be at a standstill, thus raising some serious questions about the fate of the BCH ecosystem.

Read the Full Article

Tether Treasury Issued Over 2.2 Billion USDT on TRON

As BeInCrypto has covered on multiple occasions, the Tether Treasury has been minting USDT at an unprecedented rate over the past few months.

Now, as it turns out, the vast majority of these newly minted USDT has gone to the TRON (TRX) network.

Read the Full Article

Justin Sun Allegedly Fixed His Own Poll to Score a Win Against ETH 2.0

Justin Sun is accused of using bots to rig an ‘ETH 2.0 Vs. TRON 4.0’ poll he created on Twitter.

The poll had Ethereum 2.0 widely in the lead with 72.2% of the 20,300 votes cast. However, the results were soon flipped on their head. Hours later, TRON was leading with another 30,000 votes cast seemingly out of nowhere.

Read the Full Article

Ledger and Trezor Respond to Shopify Exploit Hacker Rumor

Ledger and Trezor users were left worried over the weekend after a self-proclaimed hacker claimed to have acquired the databases for Ledger, Trezor, and others through a Shopify exploit.

However, as it turns out, this looks to just be a publicity stunt as Ledger has since found that the ‘hacked’ database doesn’t actually resemble the actual one on the platform.

Read the Full Article

The post Cryptocurrency News Roundup for May 24, 2020 appeared first on BeInCrypto.

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Bitcoin’s Falling Hash Rate Could Have Dire Implications for BTC’s Price

Bitcoin’s recent mining rewards halving event didn’t have any sudden impacts on the cryptocurrency’s hash rate, but the impacts of it on miner dynamics are now growing increasingly clear. The benchmark cryptocurrency’s hash rate has been sliding lower throughout the past couple of weeks, signaling that miners are beginning to capitulate. History suggests that hash...

2020-5-24 01:00


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Investors Need to “Be Careful” About Bitcoin’s Uptrend Because of These Factors

Bitcoin attempted to push above $10,000 yesterday evening but was once again met with a significant amount of selling pressure that subsequently led it lower The benchmark cryptocurrency is now once again caught within a bout of sideways trading within the mid-$9,000 region Analysts are warning investors against getting too excited about this latest uptrend, as there are a few factors that suggest it could soon see further downside in the days and weeks ahead […]

2020-5-19 23:00


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It’s a Critical Moment for Bitcoin as Analysts Eye a Move to $14,000

Bitcoin saw some notable overnight volatility that caused it to post an upswing followed by a swift rejection, before once again climbing higher The benchmark cryptocurrency is now moving to test its next key resistance that sits at roughly $9,500 Analysts are now noting that a clean break throughout a heavy overhead supply region just above BTC’s current price could be just what it needs to make a move up to $14,000 Bitcoin’s intense uptrend […]

2020-5-7 21:00


Bitcoin on the Cusp of Going Parabolic as an Elusive Indicator Flashes

Bitcoin has seen some notable upwards momentum today that has allowed the benchmark cryptocurrency to surmount the heavy resistance that it was previously facing at $9,200. Today’s upwards breakout marks a bullish resolution to the extended bout of sideways trading that the crypto was previously facing while it hovered around $8,800 for the past several...

2020-5-7 20:30


Here’s Why Amazon’s 7% Plunge Today Could be a Warning Sign for Bitcoin

The stock market’s striking correlation to Bitcoin throughout the past few months still appears to be holding strong, even despite Bitcoin’s intense rally seen over the past couple of days. It now appears that this correlation could once again prove to be highly negative for the benchmark cryptocurrency, as some major components of the market...

2020-5-2 02:00


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Here’s Why Bitcoin Could Rally to $10,000 Before Seeing a Brutal Decline

Bitcoin’s intense volatility seen yesterday didn’t let up overnight, as the benchmark cryptocurrency pushed as high as $9,500 before facing a swift rejection The crypto has been able to stabilize within the upper-$8,000 region in the time since Analysts are now noting that this strong upwards momentum could lead BTC as high as $10,000, although it may face a brutal rejection at this level that leads it significantly lower Bitcoin and the aggregated cryptocurrency market […]

2020-5-1 21:00


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Cryptocurrency News Roundup for April 28, 2020

Bitcoin resumed its upward momentum Wednesday as the price inched closer towards $8,000. The benchmark cryptocurrency closed the day above the key resistance area around $7,800. While $8,000 remains untouched during the current rally, optimistic traders believe that a new bull run could be in the cards, especially considering that the BTC price currently trading […] The post Cryptocurrency News Roundup for April 28, 2020 appeared first on BeInCrypto.

2020-4-29 11:14


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“Simple Geometry” Shows Bitcoin is Bound to Drop Despite Healthy Consolidation

Bitcoin has stabilized above $7,500 following yesterday’s upswing Analysts are now noting that a confluence of factors suggest BTC will decline slightly before finding enough support to catalyze continuance of this uptrend This comes after a period that some traders have described as “healthy consolidation” Bitcoin has been able to maintain all of its recent gains overnight, as the benchmark cryptocurrency has begun stabilizing above the $7,500 region even in spite of the strength of […]

2020-4-26 21:00


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Bitcoin Enters Multi-Year Trading Range as Mixed Signals Flash

Bitcoin has stabilized above $6,800 after its recent dip below $7,000 It has now entered what appears to be a historic trading range that has been developed over many years Analysts are noting that the crypto is now sending mixed signals with regards to where it might trend next In the time following Bitcoin’s intense decline below $7,000 yesterday, the benchmark cryptocurrency has since been able to stabilize above its near-term support at $6,800. It […]

2020-4-22 21:00


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Bitcoin on Brink of Serious Downside as Risk of Losing Support Grows

Bitcoin is at risk of seeing further downside as it tests a key descending trendline Some top traders are warning of BTC posting major losses in the coming days and weeks In the time following the tempered signs of weakness Bitcoin showed yesterday when it dipped below its key support at $7,200, the benchmark cryptocurrency has further extended this downtrend as bulls now defending against a dip below $7,000. This weakness has led BTC down […]

2020-4-21 21:00


Analysts believe Bitcoin may see months of consolidation despite investors’ “extreme fear”

Bitcoin saw a relatively sharp decline late-yesterday that marked a bearish resolution to its multi-day bout of sideways trading within the upper-$6,000 region. This downwards movement has come about during a time of immense fear amongst cryptocurrency investors and has further compounded this uncertainty – leading the benchmark crypto’s fear and greed index to hit […] The post Analysts believe Bitcoin may see months of consolidation despite investors’ “extreme fear” appeared first on CryptoSlate.

2020-3-31 17:04


Bitcoin is Flipping a “Key Level” as Multiple Bullish Factors Begin Emerging

Bitcoin saw a notable rally today following a prolonged bout of sideways trading, which has so far led the cryptocurrency to rally up towards the $6,000 region. This movement has come about as the traditional markets trade sideways, leading analysts to note that BTC is quickly becoming decorrelated. It now appears that the benchmark crypto...

2020-3-20 19:30


This Simple Indicator Shows Bitcoin Could be Poised for a Major Bounce

It has been a rough past few days for Bitcoin (BTC) and the aggregated cryptocurrency market, with the benchmark crypto’s ongoing downtrend leading most major altcoins to see capitulatory selloffs. This bout of significant downside is occurring against a backdrop of bearishness within the global markets, and BTC’s confirmed status as a “risk-on” asset seems...

2020-3-10 00:00