Altcoins have been severely underperforming Bitcoin throughout the course of its latest push higher. This has caused many cryptos to form bearish technical structures against their BTC trading pairs that could force them lower in the days and weeks ahead. Analysts are now noting that this trend of underperformance is unlikely to subside anytime soon. This potential near-term weakness could come about as a result of Bitcoin pushing higher in the days and weeks ahead, with its next upside movement potentially being driven by investors siphoning funds away from alts and into BTC. One analyst is now noting that he believes “max pain” is still ahead for many altcoins – a possibility that could soon come to fruition as BTC flashes some signs of short-term weakness. Bitcoin has been caught within the throes of an intense bull rally throughout the past several days and weeks. The momentum stemming from its mid-March rebound from lows of $3,800 has been rather intense, leading the crypto to push all the way to highs set within the lower-$10,000 region earlier this week. Although altcoins typically track Bitcoin’s price action and push alongside it, this time has been different, as the aggregated crypto market has struggled to match the momentum seen by BTC. This has caused many of them to form highly bearish technical formations against their BTC trading pairs, with some analysts previously noting that major altcoins like Ethereum could be poised to see notable downside. This weakness likely stems from investors flocking to Bitcoin in anticipation of its halving event. The 50% block rewards reduction stemming from this event are largely thought to reduce the selling pressure that miners place on the digital asset. There is still significant debate as to whether or not this will actually help boost the crypto in the near-term, as historical precedent shows that BTC often faces a sharp post-halving selloff. One crypto analyst explained in a recent tweet that he believes there are still fresh local lows to be set in the days and weeks ahead. If investors continue funneling capital into Bitcoin in anticipation of further pre-halving and post-halving bullishness, the aggregated crypto market could soon be subjected to significantly further downside. This decline could also be perpetuated if BTC doesn’t see the explosive upside movement that many crypto investors are anticipating.
All data is taken from the source: https://www.newsbtc.com/
Article Link: https://www.newsbtc.com/2020/05/09/heres-why-altcoins-wont-gain-dominance-over-crypto-market-anytime-soon/
#btc #chainlinkcrypto #bitcoinunconfirmedtransactions #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange
Here’s Why Altcoins Won’t Gain Dominance Over Crypto Market Anytime Soon: https://www.youtube.com/watch?v=cilIKO_IwJ0
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Today, there was absolutely to action at all but I still wanted to make a video. I’m back with another video showing the high percentage gains in order to see what we are going to get into but I have seen that TradingView charting is a little bit flawed. When it comes to data, I have seen that TradingView is outdated and could possible mislead you when placing a trade that’s IF you don’t have the premium option. I hope you’re starting to understand what I am looking for as I will not be speculating for long but trading them & I just want you guys to get the feel for the bigger stuff as we’re going to grow together! In this video I show my viewers some hot picks I seen from yesterday going into today which are moving +50% and could keep moving into tomorrow just pay attention to the ones I show you in the video.
Again, be careful when trading because we’re in a recession which could possible become a depression and on times like these it’s very hard to make money and possibly even bankrupt you; always have a strategy! Even if you trade Forex this is a macroeconomic factor and it’s not only in one country but the whole world is affected especially with high leverage you will lose all your money and at the end big banks will take little bank.
Good luck guys & lets eat! (; ~ Ezekial Di’Angelo
Note: no voice – only straight point
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Las Vegas, NV – This year, for the first time, a space was dedicated to blockchain and cryptocurrency at DEFCON 26. The Blockchain & Cryptocurrency Open Security Village (BCOS Village) was created in an effort to grow the community and make “blockchain technology & cryptocurrencies more secure, robust and trustable.” The Monero Project, along with the BCOS Village, organized dozens of speaking events and parties for supporters of the crypto-technologies, which are gaining in popularity around the world.
Read more: https://www.unicornriot.ninja/2018/cryptocurrency-blockchain-gain-momentum-at-defcon/
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With Facebook pursuing plans for a digital currency and Bitcoin flirting with new highs in 2019, cryptocurrencies are back in the headlines. But will they ever gain mass appeal among traders?
In this video, we explore what it will take for cryptocurrencies to become a mainstream asset class and why cryptos scare some traders and attract others.
*Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
With Facebook pursuing plans for a digital currency and Bitcoin flirting with new highs in 2019, cryptocurrencies are back in the headlines. But will they ever gain mass appeal among traders? In this video, we explore what it will take for cryptocurrencies to become a mainstream asset class and why cryptos scare some traders and attract others.f
This Will Be Our Next 10,000% Gain Investment… And It’s Not Crypto
Jeff Berwick walk and talk on the streets of Capri, Italy. We return to the subject of precious metals and silver mining stocks in particular.
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Here’s a technical analysis on the price action of Bitcoin (BTC). We recently saw a huge drop from $6500 to $3700! Now we sit at $3918… Do you feel we have more downside to go? Do you believe we found our bottom? Thank you so much for watching and I hope to see you in the next video.
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