Joseph Young

Blog Info CryptoSlate
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Stats Has written 37 posts about cryptocurrency

Nov 24 2020

Bitcoin surpassing $19k led Ethereum, XRP, and altcoins to plunge—what’s next?

Nov 24 2020 Published at CryptoSlate under tags  analysis btcusd ethusd price watch xrpusd

The price of Bitcoin surpassed $19,000 on November 24, reaching $19,299 on Binance. As BTC rallied, major alternative cryptocurrencies, including Ethereum and XRP, fell sharply. Whether the trend of profits from altcoins cycling into Bitcoin would continue in the near term remains to be seen. One variable could prevent a broader altcoin market downturn, and that is the $20,000 resistance. How Ethereum and...

Nov 23 2020

On-chain metrics show where Litecoin might be heading next

Nov 23 2020 Published at CryptoSlate under tags  analysis ltcusd price watch

Litecoin, the sixth most valuable cryptocurrency in the global market, increased by 30% in the past week. As LTC shows strong momentum, on-chain data points demonstrate both bear and bull cases....

Nov 20 2020

BlackRock exec says Bitcoin is here to stay as BTC blasts past $18.8k

Nov 20 2020 Published at CryptoSlate under tags  analysis btcusd price watch

BlackRock's CIO of fixed income Rick Rieder says Bitcoin is here to stay. On CNBC's Market Alert, Rieder emphasized the receptivity of millennials to cryptocurrencies. Coincidentally, on Nov. 20, the price of BTC surpassed $18,800 for the first time since 2017....

Linear calculation suggests ETH 2.0 in Jan 2021—will Ethereum price react?

Nov 20 2020 Published at CryptoSlate under tags  analysis eth 2.0 ethusd

According to CryptoQuant's linear calculation of ETH 2.0 deposits, the mainnet release could occur in January 2021. If so, whether the price of Ethereum would stagnate due to expectations of a December mainnet launch remains to be seen. For the ETH 2.0 mainnet to launch, over 400,000 ETH have to be deposited into the ETH2 deposit contract address. For now, around 105,000 ETH...

Nov 18 2020

3 reasons Ethereum dropped much harder than Bitcoin in abrupt correction

Nov 18 2020 Published at CryptoSlate under tags  adoption analysis ethbtc ethereum ethusd

Within 30 minutes, on November 18, the price of Ethereum dropped 7.7% as Bitcoin also recorded an abrupt 6% drop. ETH saw a much sharper drop in the same period, sparking concerns regarding extreme volatility. Three key reasons likely caused Ethereum to see a more volatile drop than Bitcoin. The factors are thinner order book, high futures open interest, and algorithms....

Nov 17 2020

Bitcoin “enters stratosphere” as massive OTC deals spark institutional demand

Nov 17 2020 Published at CryptoSlate under tags  analysis btcusd price watch

Bitcoin achieved $17,095 across major exchanges, seeing a massive rally as over-the-counter (OTC) deals grow. This trend shows that institutions and high-net-worth are actively accumulating BTC....

Nov 16 2020

Intercom co-founder jumps onto the “Bitcoin wagon,” encourages others

Nov 16 2020 Published at CryptoSlate under tags  adoption btcusd

Eoghan McCabe, the co-founder of the software conglomerate Intercom, said he jumped onto the Bitcoin wagon. In a tweet, McCabe encouraged others to do the same. In recent months, the perception of Bitcoin as a store of value and a hedge against inflation has been strengthening. The purchase of $425 million worth of Bitcoin announced by...

Nov 15 2020

Research: real Bitcoin volume explodes to 2020 high, but greed takes over

Nov 15 2020 Published at CryptoSlate under tags  analysis btcusd price watch

According to Arcane Research, the “7-day average daily real bitcoin volume” hit a yearly high. It comes after the top cryptocurrency exhibited significant momentum in recent weeks. But the market is starting to show extreme greed. Bitcoin is showing some resilience above $16,000. Although there is low resistance above $16k, analysts say that a...

Nov 13 2020

Why crypto communities are baffled by PayPal’s Bitcoin and Ethereum descriptions

Nov 13 2020 Published at CryptoSlate under tags  adoption btcusd ethusd ltcusd

PayPal, the payments conglomerate, integrated crypto purchases in October 2020, earning praise from the cryptocurrency community. But industry executives and crypto investors are bewildered company’s descriptions of Bitcoin, Ethereum, and Litecoin. How did PayPal describe Bitcoin and other major crypto assets? Albeit PayPal’s descriptions...

Bitcoin is stable above $16k with little mainstream hype, and it’s very bullish

Nov 13 2020 Published at CryptoSlate under tags  analysis btcusd price watch

The price of Bitcoin is showing stability above $16,000 after a continuous rally since November 10. Every major dip was aggressively bought up, allowing BTC to sustain strong momentum. Yet, there is little mainstream hype behind the rally. According to Google Trends, compared to the 2017 rally when Bitcoin hit $20,000, there is noticeably lower mainstream...

Nov 12 2020

4 reasons Bitcoin’s climb to $16k is such a volatile rollercoaster

Nov 12 2020 Published at CryptoSlate under tags  analysis btcusd price watch

The price of Bitcoin hit $16,000 on November 12 and it is exhibiting extreme volatility. After BTC achieved $16,150, it fell to as low as $15,600 within two hours. There appear to be four major factors behind this volatility. The potential catalysts are a miners’ sell-off, whales taking profit, the significance of the $16,000 resistance level, and the lack of...

Why DeFi majors Yearn.finance, Aave, SNX plunged amid overnight BTC rally

Nov 12 2020 Published at CryptoSlate under tags  analysis btcusd defi yfiusd

Overnight, on November 11, the price of Bitcoin rallied by nearly 4% as it neared $16,000. While BTC showed strengthening momentum, decentralized finance (DeFi) majors, like Yearn.finance (YFI), Aave (AAVE), and Synthetix (SNX), underperformed. The trend spotted in DeFi in the last 24 hours,...

Bitcoin enters “extreme greed” zone as BTC price nears $16k

Nov 12 2020 Published at CryptoSlate under tags  analysis btcusd price watch

According to various on-chain metrics, Bitcoin (BTC) is entering the greed zone as price nears $16,000. Alternative’s Fear & Greed Index shows Bitcoin is now hovering in the “extreme greed” area. The metric shows out of 100, the greed level in the Bitcoin market has hit 86. In...

Nov 11 2020

3 reasons Bitcoin spot volume reaching new yearly peak is highly optimistic

Nov 11 2020 Published at CryptoSlate under tags  analysis bitcoin btcusdt price watch

According to the data from Arcane Research, the spot volume of Bitcoin has reached a new yearly high. This figure is particularly optimistic for the short to medium term trend of BTC because it reflects the growth of real and verifiable trading volume. Since late October of this year, the spot volume of Bitcoin rose by more than 270%. It coincides with...

Nov 10 2020

Polkadot could become an Ethereum killer—but one analyst is skeptical

Nov 10 2020 Published at CryptoSlate under tags  analysis dotusdt ethusd price watch

According to analysts, Polkadot has emerged as a major competitor to Ethereum in 2020. Following the explosive decentralized finance (DeFi) cycle from July to September, the demand for high-capacity smart contracts protocols has increased. Naturally, discussions on which blockchain networks could...

Nov 09 2020

Famed technical analyst: Bitcoin risks short-term top or consolidation after big fall

Nov 09 2020 Published at CryptoSlate under tags  analysis btcusd price watch

John Bollinger, the famed technical analyst, believes Bitcoin could be heading down for lower. On the day, BTC dropped 4.5% since its peak following the explosive rally of the U.S. stock market. Bitcoin, gold, and other stores of value sharply pulled back after Pfizer reportedly announced a major vaccine milestone. Pfizer said its study on 44,000 individuals has shown its vaccine is...

Nov 05 2020

Bitcoin breaks $15k for first time since 2017—but this is the biggest hurdle

Nov 05 2020 Published at CryptoSlate under tags  analysis btcusd price watch

The price of Bitcoin (BTC) is demonstrating a parabolic uptrend. It has continuously surged past key resistance levels in the past 48 hours. In the near term, however, $16,000 remains the biggest hurdle. This also means that there is no real resistance above $16,000 to the all-time high at $20,000. Based on the strong high time frame chart of...

Nov 03 2020

U.S. election causes Bitcoin, crypto prediction markets havoc on Biden lead

Nov 03 2020 Published at CryptoSlate under tags  adoption btcusd exchanges price watch

Traders in the crypto market are increasingly betting on the outcome of the contested U.S. election. So far, the majority of bets are on Joe Biden, the Democratic candidate. Bitcoin is surging on the predicted outcome, as a blue sweep benefits the dominant cryptocurrency....

“I am now bullish on Bitcoin”—Bloomberg newsletter talks institutional mania

Nov 03 2020 Published at CryptoSlate under tags  adoption btcusd price watch

A Bloomberg newsletter described Bitcoin as a “way of disintermediating the existing financial system.” It comes as the perception of BTC as a store of value is continuing to strengthen amidst rising institutional demand. Oh yeah, I'm bullish on Bitcoin now....

Nov 02 2020

Bitcoin in “overbought territory” says researchers as BTC suddenly corrects

Nov 02 2020 Published at CryptoSlate under tags  analysis btcusd price watch

According to researchers at Santiment, Bitcoin has been in an “overbought territory.” Merely two hours after the report came out, BTC dropped 4% within two hours. Possibly due to the uncertainty around the U.S. election on November 4, the cryptocurrency market saw a steep pullback. As Bitcoin...

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