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Bitcoin has carved out a 33-month high, showing resilience amid growing instability in the traditional markets. from CoinDesk https://ift.tt/2Gfg3t3 via IFTTT

We are now starting to see the crossover of regulation in the digital asset market and digitalization of the traditional market. From what started as something of a “technological experiment” with Bitcoin ( BTC ) over a decade ago, the crypto asset industry has become a significant driver for change in global financial markets. Cryptocurrency exchanges started as a means to enable crypto enthusiasts to trade digital coins outside the traditional financial system on a decentralized and largely autonomous basis.  It is likely that combined with regulatory recognition and development of digital market infrastructures, acceptance of essential Anti-Money Laundering practices, investment in security protection systems, and recognition of investor protection measures will see these businesses continue to expand and potentially merge or compete on an even footing with existing regulated marketplaces. The success of these platforms in allowing an unregulated free-flow of value across bo...

Bitcoin is having a good year despite the coronavirus panics and the nervousness of the markets. After reaching an annual high of about $13863 on Oct. 28, the world’s largest cryptocurrency by market capitalization underwent a sharp correction of almost $1000 before rebounding and stabilizing at $13281. From that point on, it began a stable recovery process, with small daily growths, closing on Friday near $13680. Today October 31st, Bitcoin managed to break that record, reaching $13,950 at the time of writing. This represents a 5% growth in the last 24 hours. Bitcoin’s Ascend to New Highs Bitcoin has been on a bullish streak since March, when the crash in the financial markets erased all the gains it had made throughout the year, taking the token to the lowest level since April 2019. For those swing and position traders, things are looking pretty rosy. The cryptocurrency has respected the bullish channel that was formed since March. If the trend continues, the most robust suppo...

Bitcoin broke out of the $13,000 resistance level merely a week ago, which means those expecting Ethereum and altcoin prices to rise may have to wait a few months. Bitcoin ( BTC ) is sucking up the volume from the entire cryptocurrency market as it continues to rally. This is causing the alternative cryptocurrency (altcoin) market to pullback, which has seen rising selling pressure and low buyer demand. On Oct. 30, researchers at Santiment pinpointed the growing volume and dominance of Bitcoin, while Chainlink ( LINK ), Ether ( ETH ) and Binance Coin ( BNB ) struggled. They wrote : “The dominance involving #Bitcoin is continuing to display itself, particularly via trading volume. When comparing other top blockchains in the past day, note the decline in $ETH, $XRP, $LINK, and $BNB trading volume, while BTC's levels stayed high.” At least in the foreseeable future, traders believe the so-called “altseason” is not returning, especially as Bitcoin outperforms altcoins. The tradi...

Consolidation from Bitcoin would allow Ethereum to double bottom in its BTC pair and possibly breakout from the ascending channel in its USDT pair. In the past week, altcoins prices received a significant haircut, and investors who were light on Bitcoin ( BTC ) saw their portfolio value take a hit.  Initially, Ether ( ETH ) price followed Bitcoin higher as the top-ranked digital asset rallied through the $12,000 resistance but as BTC continues to slowly push higher Ether struggled to flip $400 to support. Crypto market weekly price chart. Source: Coin360 Ether’s loss of momentum and the correction in altcoins has led to a number of crypto traders tweeting that altcoin season is done and many are citing the bearish price action in the ETH/BTC pair as evidence for this point of view. ETH/BTC 1-week chart. Source: TradingView Looking at the ETH/BTC weekly chart, traders will notice that the pair is on the verge of dropping below the ascending trendline and high volume VPV...

It’s been a brutal past few days and weeks for altcoins despite Bitcoin’s strength. Top digital assets aside from BTC have plunged a handful of percent, even dozens of percent, against the U.S. dollar, even as Bitcoin hits new year-to-date highs. This divergence has shocked many investors in the space, especially those that entered the altcoin market late this summer. This pain may eventually end, though, an analyst noted. This same individual added that this may coincide with BTC breaking $14,000. Related Reading : Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin to Break $14,000 Once Altcoin Hemorrhaging Ends Bitcoin analyst “Light,” who is celebrated by fund managers like Su Zhu of Three Arrows Capital, thinks that Bitcoin could soon break above $14,000 once the market sell-off ends: “BTC is behaving in an incredibly strong fashion, up 0.9% l24hrs while alts hemorrhage and derisking continues in equities. Expect it to break $14,000 after the bloodletting runs...

As NFTs gain traction, here are some of the top marketplaces for finding NFTs, as well as the future outlook of this industry. Currently worth $100 million, the nonfungible tokens industry is changing how the ownership and authenticity of digital assets are perceived. Leading entities in the gaming and blockchain world are already experimenting with NFTs in all sorts of ways. However, the primary goal is to prove the authenticity and ownership of digital items, which had proven difficult until the advent of blockchain technology. Through blockchain technology, digital assets can have unique identifiable attributes that make them rare and irreplaceable. On NFT marketplaces such as OpenSea, a multitude of projects are at work producing all sorts of creative and transferable NFT items. While the past decade has seen a lot of excitement around fungible digital assets like Bitcoin ( BTC ) and Ether ( ETH ), nonfungible tokens are just getting started, and already, there is a lot of pro...