Ripple price extended losses below the 0.0000670 support against bitcoin. XRP is currently in a strong downtrend and it may even test the next key support at 0.0000600BTC in the near term.

Key Talking Points

• Ripple price extended losses below the 0.0000670BTC and 0.0000640 supports against bitcoin.
• There is a crucial bearish trend line formed with resistance at 0.0000630BTC on the 4-hours chart of XRP to BTC (Data feed via Binance).
• The price must climb above 0.0000630BTC and 0.0000654BTC to recover in the near term.

Ripple Price Analysis
In the past few days, there was a strong decline in ripple below the 0.0000670 support against bitcoin. XRP sellers remained in control below 0.0000670 and pushed the price below the 0.0000640 and 0.0000630 support levels versus BTC.



Looking at the chart, the price is clearly in a nasty downtrend from well above the 0.0000740 level. Later, there was a close below the 0.0000670 support and the 100 simple moving average (4-hours), opening the doors for a strong decline.

Recently, there was a recovery in Ethereum, litecoin, EOS and ripple against the US Dollar. However, XRP struggled to gain traction versus BTC and traded close the 0.0000618 level. A swing low was formed at 0.0000619 and the price remains at a risk of more losses.

On the upside, there is a strong resistance formed near 0.0000630 and a crucial bearish trend line with resistance at 0.0000630BTC on the 4-hours. The 23.6% Fib retracement level of the last drop from the 0.0000689BTC high to 0.0000619BTC low is also at 0.0000635BTC.

The next key resistance is at 0.0000655BTC since it represents the 50% Fib retracement level of the last drop from the 0.0000689BTC high to 0.0000619BTC low.

To start a strong recovery, ripple price must break the 0.0000635BTC, 0.0000655BTC and 0.0000670BTC resistance levels, plus the 100 simple moving average (4-hours). If there are additional losses, there is a risk of a break below the 0.0000615BTC support. The next major support is at 0.0000600BTC where XRP buyers are likely to take a stand.

source: https://ethereumworldnews.com/ripple-xrp-remains-in-strong-downtrend-versus-bitcoin-btc/

BTC will not be replaced by any altcoin in my opinion, just look for now the prestige of BCH has begun to fade with the elimination of trading in binance

Crypto markets cooling off again; Only Bitcoin Cash surviving as Bitcoin SV drowns.

Market Wrap
There has been no further momentum on crypto markets and the pullback appears to be decelerating. The Binance BSV debacle seems to have sent markets into a temporary tailspin as $6 billion left the space a few hours after the announcement. Volumes and total capitalization is thinning out again as it approaches $170 billion but no major decline has ensued.

Bitcoin dumped to an intraday low of $5,025 a few hours after Binance delisted its smaller sibling. It has slowly clawed back to just below $5,100 today though and appears to be comfortable holding this position for now. There is still a lot of resistance looming above this level though.

Ethereum has plunged almost 4 percent on the day as it fell back to $160. Markets have been generally bearish over the past 24 hours but ETH has taken a harder hit this time. XRP which has moved very little in recent days has receded 2.5% overnight falling back to $0.32.

The top ten is all in the red this morning during Asian trading. That is all aside from Bitcoin Cash which has mopped up losses from Bitcoin SV. BCH has added 5% on the day to reach $313 after an initial surge of 25% to surpass $330 as it continues to benefit from BSV’s misfortune. All other altcoins are dumping with Litecoin and Stellar dropping 4 – 5 percent and EOS and Cardano over 3%.

The top twenty is also all red at the time of writing. BSV has predictably started to collapse as Binance flexed its digital muscles sending this altcoin into free fall dumping over 20% down to $57 in a matter of hours. Tezos is almost back to a dollar losing 7% of its big pump from yesterday. NEO and Ontology are also in a bad way today dropping 5 percent and the rest are not far behind.
FOMO: Maximine Coin Creeps Up
There are no crazy fomo pumps going on at the moment. The top one hundred’s top performer is MXM but it has only made 5.5% on the day, this is how weak markets are today. BCH as mentioned is also doing well but there are very few altcoins in the green at the moment.

Bitcoin SV’s epic dump makes it the day’s biggest loser. Lambda is also falling back as it sheds 14 percent and Komodo is getting hit with an 11 percent slide on the day.



Total crypto market capitalization has shrunk by $6 billion since the same time yesterday with many asking if CZ’s decision had anything to do with it. In all likelihood it is just another unrelated minor correction as market cap drops back to $172 billion. Volume is still over $40 billion so a resistance break by one of the top cryptos could get things moving again today.

source:https://www.newsbtc.com/2019/04/16/crypto-market-wrap-did-binance-just-cause-a-6-billion-dump/

Over recent weeks, investors and industry firms across the board have claiming that the Bitcoin (BTC) bottom is in. Binance, the world’s most popular and used crypto asset exchange, is the latest entity to joined this bandwagon, touting the merits of the “bottom is in” theory in a recent study.

According to the document, titled “Investigating Cryptoasset Cycles” and published through Binance’s research arm, there are many signs that BTC has established a long-term floor in this bear market.

Binance’s researchers and analysts first looked to the relationship between altcoins and market leader Bitcoin, specifically their composite correlation and how that lines up with movements in the broader market. They explain that just recently, months after Bitcoin collapsed from $6,000 to $3,000, the two subsets’ correlation reached an all-time high, suggesting “that a trend reversal may possibly ensue.”

https://twitter.com/binance/status/1116938326685052928

Secondly, Binance Research touched on the fact that institutional interest remains relatively low in crypto than in traditional markets, meaning that price action in Bitcoin is often exaggerated and primarily pinned to emotions. And with investors across the board touting decidedly optimistic comments, the “formation of a bubble” henceforth is all but coming to life. The fact that Bitcoin’s UTXO count has swelled, indicating widespread accumulation, only accentuates this.

Binance’s reassuring post (for bulls anyway) comes after a number of key pundits have taken to popular public forums to affirm that BTC is looking better than ever. Per previous reports from Ethereum World News, Tom Lee, the head of research at Fundstrat, claimed that the fact that the cryptocurrency has held above its 200-day moving average for an extended period, with lots of volumes to match, confirms to him that Bitcoin is in a bull market. He added that a “fair value” for the cryptocurrency is $14,000, looking to BTC mining costs, institutional investment (and investment in general), and historical trends. This, of course, was just the proverbial tip of the iceberg, but let’s not get into all that now.

Some Not All Too Sure
Tom Lee & Co. seem to be convinced that the bottom is in, but some have begged to differ. Earlier this week, a trader known for his cynicism (which has proven to be sensical previously) going by “Jonathan” opined that Bitcoin’s rally past $5,000 is “bulls**t.”

In a three-part thread posted recently, the Korea-based trader claimed that from his perspective, Bitcoin could crash to $2,000 in the near future, due to the fact that the majority think the bottom is in. He adds that investors’ incessant, even religious devotion to being bullish on Bitcoin could result in a collapse to that level. Ouch.

This, of course, is in reference to the popular asset trading adage that 90% of investors lose money, giving some the idea that trading against the crowd will always outperform following investment leaders like sheep. In the eyes of some, this investment thesis works even better in the irrational cryptocurrency market.

source: https://ethereumworldnews.com/binance-asserts-bitcoin-btc-has-reached-an-ultimate-bottom/

Just over ten years ago, Bitcoin (BTC), the world’s first cryptocurrency was unveiled. In this time, BTC has grown from being an obscure platform used by cryptographers and computer engineers, into a full-fledged digital currency accepted by tens of thousands of merchants worldwide.

That being said, getting to this stage was no easy task for the digital currency, having gone through a myriad of ups and downs over the years. Bitcoin has experienced problems ranging from multiple community-splitting hard forks to numerous exchange hacks and thefts tarnishing its image.

Despite this, Bitcoin has managed to maintain steady momentum over the last decade, growing its market capitalization from practically nothing, up to over $300 billion as interest in the cryptocurrency grew to stratospheric levels in 2017.

While the growing market capitalization is surely a sign that Bitcoin is beginning to hit its stride, it doesn’t really demonstrate how adoption has changed in this time. At least for the case of cryptocurrencies, usage and market capitalization are not always closely related.

Instead, one of the better ways to track whether a cryptocurrency is growing in usage is to look at how the number of transactions per day is changing over time. If this figure is increasing, then it can be assumed that the cryptocurrency has either found increased utility among its current users or that the number of users is increasing.

source: https://beincrypto.com/bitcoins-push-to-retake-5000-a-new-trend-or-nothing-special/

What do you think is causing the growth in Bitcoin transaction volume? Is it simply due to increased trading, or are more merchants accepting BTC as payment?

The CEO of the Binance cryptocurrency exchange took to Twitter earlier threatening to delist Bitcoin Satoshi’s Vision (BSV) from the platform.

The ultimatum comes in response to a feud between BSV proponent and notorious crypto-villain Craig Wright and a Twitter user @hodlonaut.

Craig Wright has been in the middle of many arguments and feuds in the space, mostly stemming from the fact that he has tirelessly claimed to be the creator of Bitcoin — Satoshi Nakamoto. Wright has never successfully moved any funds from the genesis Bitcoin wallet which many believe to be the only factor in identifying the true Satoshi.

Weeks ago, Wright gave up on Twitter, abandoning his account and threatened libel and defamation lawsuits against Hodlonaut and a slew of others. In a recent twist, Wright offered $5,000 to anyone who could provide personal information identifying Hodlonaut in real life.

Anonymity is a virtue that the majority of the cryptocurrency community holds dear. Engaging an angry mob to find out personal details about someone is a dangerous and slippery slope, and certainly doesn’t help Wright look any better.

In a massive outpouring of support for Hodlonaut and sanctity of anonymity, Twitter users have been changing their avatars to match that of Hodlonaut’s astronaut cat in solidarity, sporting the hashtag #weareallhodlonaut.

Binance CEO Changpeng Zhao (CZ) voiced his opinion on the matter by threatening to remove BSV from the exchange if Craig Wright doesn’t call off the hunt for Hodlonaut.

While CZ’s heart is in the right place, delisting BSV because of these matters would follow Wright on the low road. BSV should be allowed to compete to let the best blockchain prove itself based on fundamentals. Censoring a certain coin or project because of personal disputes does nothing to help further progress in the industry and would ultimately be hypocritical.

Do you think CZ was in the wrong to threaten delisting BSV over this feud? What are your thoughts on Craig Wright’s Twitter bounty? Let us know your thoughts in the comments below.

source: https://beincrypto.com/binance-ceo-threatens-to-delist-bitcoin-sv-bsv-after-twitter-fued/

Ever since last week’s Bitcoin rally that broke through critical resistance at $4,200, bulls have appeared to be back in charge. What is still unclear at the moment, is if the bottom of the 2018-2019 crypto bear market is in, and the early signs of a new bull run are beginning.

Giving further merit to bulls claiming the bottom is now behind us, one specific Bitcoin technical indicator has turned bullish for the first time in 16 months, which according to many confirms that a new uptrend has begun.

Bitcoin Super Guppy Multiple Moving Average Indicator Flips Bullish
The crypto bear market has been hard fought by bulls, who eventually succumbed to bearish sell pressure in November, causing a break of repeatedly tested support at $6,000. The violent move down took Bitcoin into a new trading range, touched its local bottom, and began a multiple-month accumulation period.

Investors and traders can only know a bottom was indeed the final bottom in hindsight. Until a new bull trend has long been confirmed, the market will continue to wonder if Bitcoin and other cryptocurrencies may test new lows.

However, one particular technical indicator for Bitcoin has flipped bullish for the first time since the bear market began back in early 2018, following the break of Bitcoin’s parabolic advance to its all-time high price of $20,000 in December 2017.

https://support.twitter.com/articles/20175256

According to crypto analysts, the Bitcoin Super Guppy indicator turning green is confirmation that a new uptrend is here. If this uptrend turns into another full blown bull market is still anyone’s guess, but if bulls follow through with conviction it could revive the FOMO and hype that drove the 2017 crypto bubble.

Guppy, Whales, and Other Big Fish
The indicator, called the “Super Guppy” takes multiple moving averages – both short- and long-term moving averages – and averages them in such a way that can help traders spot changes in trends, breakout confirmations, and other potential profit opportunities. The indicator is named after its creator, Australian trader Daryl Guppy.


Now that the Super Guppy has confirmed a trend reversal, the whales that accumulated Bitcoin during the extremely brief stint in the $3,200 to $4,200 trading range should be looking to mark up the price of their assets sooner than later. The sudden surge in pricing, followed by additional bullish momentum, could cause the bear and bull cycle to occur at a faster pace than previous cycles, resulting in a new all-time high sooner than expected.

Crypto analyst FilbFilb has shared a previous chart created that outlines what a faster cycle might look like, with one scenario bringing Bitcoin to a new all-time high peak coinciding with the next halving in May 2020. The other scenario has Bitcoin peaking again shortly after halving, closer to July 2021.

source: https://www.newsbtc.com/2019/04/10/bitcoin-technical-indicator-confirms-uptrend/