Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
Veröffentlicht am

MicroStrategy buys another 2,500 BTC to bring total to 132,500

  • MicroStrategy reportedly bought approximately 2,500 BTC between 1 November and 24 December, 2022.
  • The company now holds 132,500 BTC acquired for approximately $4.03 billion.
  • MicroStrategy did however sell 704 BTC for $11.8 million on 22 December for what it termed as tax benefits.

MicroStrategy, a publicly traded company that’s the world’s largest corporate holder of Bitcoin, has reported buying more of the flagship cryptocurrency even as the market hit turbulence beginning early November.

As per the filing submitted on 28 December to the US Securities and Exchange Commission (SEC), MicroStrategy says it purchased an additional 2,500 bitcoins between 1 November and 24 December, 2022. 

Altogether, the software analytics and business intelligence firm purchased Bitcoin worth approximately $56.4 million in nearly two months and $4.03 billion in total.

MicroStrategy now holds 132, 500 bitcoins

As crypto navigated the turmoil caused by FTX’s collapse that had crypto price tapping new multi-year lows, MicroStrategy saw an opportunity to buy Bitcoin. In short, the company added 2,395 bitcoins worth $42.8 million to its holdings between 1 November and 21 December, 2022.

The total BTC acquisition in this period cost the firm $42.8 million at an average purchase price of $17,871 per coin.

On 22 December, 2022, MicroStrategy sold 704 bitcoins for $11.8 million. According to the company, the sale was at an average price of $16,776 per coin. Although the sale was at a loss, the company plans to offset the capital losses against capital gains made earlier.

Despite the BTC sale, MicroStrategy went to the market again on 24 December 2022. It bought another 810 bitcoins at an average price of $16,845 and for a total outlay of $13.6 million. By 27 December 2022, the company had added 2,500 bitcoins at a total cost of $56.4 million. 

As of this report, MicroStrategy had increased its Bitcoin holdings from 130,000 BTC at the end of October to 132,500 bitcoins by 27 December, 2022.

The recent purchases means MicroStrategy has spent $4.03 billion on acquiring BTC since its first purchase in 2020. The coins’ average purchase price currently stands at $30,397 per bitcoin. 

The post MicroStrategy buys another 2,500 BTC to bring total to 132,500 appeared first on CoinJournal.

Veröffentlicht am

Chainlink losing $6 will be a bear trigger, but Michaël Van De Poppe is optimistic

  • Chainlink has temporarily lost the support at $6

  • Michaël Van De Poppe expects the price to rally to $16 next year

  • LINK faces pressure, and the momentum is bearish

Chainlink (LINK/USD) was trading $5.74 as of press time. Technical indicators show that the cryptocurrency has lost support at $6, although a bear momentum is yet to be confirmed. Will the new year spell doom if bulls do not recover above $6?

Potentially yes, since LINK bulls have always defended $6. Any time the price crashes below this level, buyers arrest it quickly, making it an important zone. A loss of $6 will, therefore, be a bear trigger for LINK in early 2023.

Crypto analyst Michaël Van De Poppe expects Chainlink to be bullish next year. According to Poppe, Chainlink will rally to $16 if bulls reach a resistance area of $7.78. However, Poppe says LINK can fall below $5 before igniting a bullish push.

LINK price and technical outlook

LINK is consolidating within a range of between $6 and $8. Any break below the range low could take the cryptocurrency down. Bulls will gain interest if the cryptocurrency breaks above the range low.

LINK/USD Chart by TradingView

Technically, selling pressure is high on LINK. The RSI points down and remains near the oversold region. A further decline heightens the bear pressure, with LINK now staring at a possible drop below the consolidation. The new few days of trading will be exciting to watch how LINK behaves around the support.

Can LINK recover the $6 level?

Although a price below $6 would be considered bearish for LINK, we need to watch the close of the daily candlestick. A bullish reversal will be confirmed if the candlestick closes with a long wick on the lower side (bullish pin bar).

Conversely, a bear market will be confirmed if LINK closes with a long wick on the upper side and the price breaks further lower. For LINK bulls, it is important to wait for confirmation.

Where to buy LINK

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy LINK with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy LINK with OKX today

The post Chainlink losing $6 will be a bear trigger, but Michaël Van De Poppe is optimistic appeared first on CoinJournal.

Veröffentlicht am

Ethereum price as cryptocurrency falls below $1,200

  • Ethereum fell by 1.87% on Wednesday to relinquish $1,200 price level

  • Ethereum price is ailing from the weak sentiment in the crypto sector

  • The price faces further slump although it has some stability

Looking to buy Ethereum (ETH/USD) in the new year? Probably waiting a little longer would help. Ethereum is yet to find a bullish footing, and further downsides are possible. The recent price action shows it, but it is not outright.

Trading down 1.87% on Wednesday, Ethereum had slipped below the $1,200 price level. The loss is not unique to the second-largest cryptocurrency. All the cryptocurrencies in the top 10 by market cap were in the red. That probably tells that although crypto fans may wait for 2023 with enthusiasm, it may still be too early to jump into the ship. 

Ethereum is a cryptocurrency with huge potential, considering that it trades at just four times lesser value than its 2021 highs. Then, the merge happened this year, and the blockchain transited to the proof of stake protocol. Yet again, the price has failed to take off. Perhaps, we should take the words of the co-founder Vitalik Buterin that we should focus on the technology rather than price. But to crypto speculators, price matters most. What crypto enthusiasts want is when is the next bull run. The answer is plain, not yet! The price action below shows.

ETH sliding below the support-turned resistance

ETH/USD Chart by TradingView

On the technical outlook, Ethereum is sliding into a consolidating market. However, the cryptocurrency is in a bear market with weak momentum. ETH also trades below the $1,250 support zone. The $1,100 continues to support the price and prevent bears from crashing below $1,000.

What next for ETH?

The price outlook for ETH is slightly bearish. However, $1,100 is the level to watch should bear pressure mount. A break below the support would see ETH fall further lower. 

On the flip side, bulls must recover above $1,250 to consider the further upside for Ethereum price. For buyers, it could be crucial to wait for a bullish momentum.

Where to buy ETH

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy ETH with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy ETH with OKX today

The post Ethereum price as cryptocurrency falls below $1,200 appeared first on CoinJournal.

Veröffentlicht am

Litecoin rallies from a support zone as trading volumes rise

  • Litecoin correction was contained at the $64 support

  • Michaël van de Poppe expects LTC price to rally 22%

  • LTC is a good buy on the current retracement for short-term investors

Litecoin (LTC/USD) may be well on course to another bullish rally. Despite the cryptocurrency cooling off from its recent gains, bulls have defended the $64 support as the price retraced. LTC has now initiated a short-term recovery above the support. 

While technicals depict a potential rally in LTC, crypto analyst Michaël van de Poppe says the uptick will continue. Poppe says LTC price could rise by at least 22% from the current price level. To emphasise his point, the analyst notes Litecoin is demonstrating strengths. He says he will be interested in some scalp trades at the $69 level, with options to go long around $66.75, targeting $78 and $84. LTC traded at $67.48 as of press time and was on a slight bear correction.

Meanwhile, development activity on Litecoin is on the rise. Santiment data indicates that activity grew strongly in September before peaking in October. As of December 27, Litecoin was the second most active chain. It recorded $2.88 billion in transaction volumes after Bitcoin’s $3.98 billion.

LTC recovers at the 38.2% fib level but above $64 support

LTC/USD Chart by TradingView

Incorporating the Fibonacci retracement levels on LTC daily chart, the token’s price initiated a recovery at the 38.2% fib level. Momentum increased as the cryptocurrency recovered the 50% fib level. LTC is also maintaining a short-term bullish trendline. The bulls have now successfully defended the $64 support.

LTC concluding thoughts

Technicals and fundamentals align for LTC price. There is a clear uptrend, with price recovering key levels that spell a bullish surge for the cryptocurrency.

LTC is a good buy, with a price potential of up to $84, the previous resistance level. However, buyers would still target areas around $70, the 61.8% fib level, and $76, the 78.6% fib level. A further uptick in LTC will depend on the ongoing fundamentals and developments. Investors can buy on the short-term retracement.

Where to buy LTC

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy LTC with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy LTC with OKX today

The post Litecoin rallies from a support zone as trading volumes rise appeared first on CoinJournal.

Veröffentlicht am

XRP attempts recovery, but how is the SEC case shaping price?

  • XRP price has remained tied to the ongoing Ripple case with SEC

  • SEC recently filed a motion to restrict the Hinman documents

  • $0.40 is the level to watch on the bull side or $0.30 on the bear side

Ripple (XRP/USD) has been on a short recovery since falling below $0.34. Despite losing an intraday of 3.20% as of press time, it looked stable even as Ripple’s case with SEC drags on.

For a long time, the SEC’s case has been a price driver for XRP. However, recently, investors have adopted a wait-and-see attitude amid speculations that the case was nearing an end. Up to this point, nothing is confirmed yet, but the ongoing legal tussles shape XRP trading.

The latest development in the longstanding case involved the SEC filing a motion to restrict the Hinman documents. SEC lawyers allege that the documents should be protected from the public since they carry sensitive matters. It should be remembered that Ripple has often called for the documents to be made public. If the SEC’s wish is granted, that could be a blow to Ripple. 

With XRP continuing to reflect the case, it is obvious that any win for the SEC will hurt the token’s price. Consequently, Ripple will come under bear pressure. Similarly, a win for Ripple would increase speculations of SEC getting defeated at the end and boost XRP. That could see the cryptocurrency resume the uptrend.

XRP trapped by $0.40 resistance but holds strongly above $0.30 support

XRP/USD Chart by TradingView

From the technical outlook, XRP is trading within a range. $0.40 is the resistance at $0.30 is the support. Any break above or below these levels will spell a win for bulls and bears, respectively. Momentum is, however, improving, with the MACD indicator shifting above the signal line. The indicator still shows XRP is bearish.

What next for XRP?

XRP price will be determined by the developments around Ripple’s case with SEC. To a technical reader, it is important to buy the cryptocurrency on a confirmed breakout.

Where to buy XRP

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy XRP with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy XRP with OKX today

The post XRP attempts recovery, but how is the SEC case shaping price? appeared first on CoinJournal.