Market Updates Archive
Technical Outlook Bitcoin (BTC), Ethereum (ETH), Ripple (XRP): 03.12.20
After some moves higher and lower during the past couple of days, the Cryptocurrency market seemed to have finally gone into some consolidation. Resistances on top are proving too tough for the market to break above, and the supports on the bottom are becoming extremely reliable for holding any kind of downturn and hence investors are looking to calm down a bit before deciding on which trajectory the market will take. With that said, let’s find how the Cryptocurrencies are doing on December 3rd, 2020.
Bitcoin Can Evolve To be a Global Market 03.12.2020
BlackRock is one of the largest asset managers in the world controlling over $7.4 trillion. Its CEO, Larry Fink, in a recent interview, now says Bitcoin can evolve into a global market therefore impacting the reserve status of the USD. The greenback is a global reserve currency. However, with the widespread use of Bitcoin, the USD will be less relevant to foreign holders.
Ethereum Miners Raked in $262 Million in November 03.12.2020
In November, Ethereum miners earned $262 million as revenue, a slight decrease from September and October averages. Even with this contraction, the network is still the most dominant in smart contracting and is the home of DeFi. Part of this explains the rise of USDT usage and in trustless derivatives collateralized by the stable coin. Overly, Bitcoin miners earned more than twice made by Ethereum miners while in both networks, transaction fees contracted.
Ripple Likely to Benefit from the Biden Administration 03.12.2020
Brad Garlinghouse, the CEO of Ripple, has in an interview with CNBC’s Julia Chatterley said his network stands to benefit from the Biden Administration. Under Joe’s tenure, there will be an increased focus on climate change and energy efficiency. Unlike Bitcoin--which is generally energy inefficient, prone to centralization, but secure, Ripple has better throughput and is more energy-efficient. Combined with its effectiveness, it could find true utility as institutions that transact trillions of dollars use its rail for fund transfer.
Technical Outlook Bitcoin (BTC), Ethereum (ETH), Ripple (XRP): 02.12.20
The Cryptocurrency market reached another high yesterday, but as they reached those levels sellers couldn’t wait to enter the market and begin to correct it. The result was a drop in most of these instruments, however it wasn’t as severe as last time. In fact one could describe it as a healthy correction to begin anew. Support levels were able to keep things in check as Bulls continue to enter in on dips. With that said, let’s find how the Cryptocurrencies are doing on December 2nd, 2020.
Bitcoin Briefly dumps on Miner Liquidation 02.12.2020
Ki-Young Ju, the CEO of Crypto Quant is bearish on the immediate term citing whales influx to cryptocurrency exchanges and miners dumping their coinbases. Explaining yesterday’s rejection and selloff from 2020 highs, he explains that a lack of a follow-through and lower lows today may spark further losses as whales unload.
Eth2 is Live while Ethereum Mining Difficulty Jumps to an All-Time High 02.12.2020
After six years of work, Eth2 Phase 0, the Beacon Chain mainnet, is now live. The genesis block has been validated and the system is operating without hitches. While it is too early to take a victory lap and declare Eth2 fully functional at the moment, the step is monumental for the network. Meanwhile, miners have to commit more resources since difficulty has risen to an all-time of 3,616 TH according to Etherscan.
Grayscale To Bring Back the Drop Gold TV Ad 02.12.2020
Grayscale, the regulated firm facilitating institutional exposure to a variety of cryptocurrencies including Bitcoin Cash and Litecoin, is once again reeling out the “Drop Gold” Ad on major networks across the United States. The Ad roots for digital gold, urging investors to shun gold. Instead, they should double down on BTC for its unique characteristics including acting as a store of value and digital nature.
Technical Outlook Bitcoin (BTC), Ethereum (ETH), Ripple (XRP): 01.12.20
The bullish Cryptocurrency market continued to make its way upwards after the massive correction. This correction proved to do more good than harm as it gave the market the needed momentum to break above resistances that were previously very hard to reach. Currently, the market is poised for another bout of bullish momentum, however, there are fears that this time will not be like last time. With that said, let’s find how the Cryptocurrencies are doing on December 1st, 2020.
Bitcoin Price Soared, Retests All-Time High 01.12.2020
The Bitcoin price on Nov 30 rallied, nearly retesting 2017 highs of $19,891, reaching a new 2020 high of $19,873 (data from Coinbase). An additional screenshot by Tyler Winkelvoss, one of the owners of Gemini, confirmed the uptrend. Preceding the rally was an influx of new investors according to GlassNode statistics.
Eth2 Beacon Chain Mainnet Launching Today, Ethereum More Decentralized than Bitcoin 01.12.2020
The second era of Ethereum begins today with the activation of the Beacon Chain mainnet and staking. Dubbed Serenity, Eth2 will introduce a consensus change and scalability solutions in multiple stages spanning several months. These will cement its position as a leader of dApps and developers’ favorite.
A Shopping Outlet in Venezuela, Rattan Plaza Now Accepts Crypto Including DASH and Litecoin 01.12.20
One of the biggest shopping outlets in Venezuela, Rattan Plaza, now accepts payment in Bitcoin, Litecoin, Dash, Ethereum, Binance, DAI, Tether and Cryptobuyer, a new update on Nov 30 reads. The deal is in partnership with CryptoBuyer and through its Pay solution, coin holders will settle their bills for services offered or goods purchased.
Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
CryptoAltum does not accept any clients under the age of 18.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
CryptoAltum does not accept any clients under the age of 18.