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Biggest Movers: XMR Rises to 1-Month High, XRP Moves 4% Lower

Biggest Movers: XMR Rises to 1-Month High, XRP Moves 4% Lower

One of today’s top gainers is Monero (XMR), whose prices have reached a four-week high. The price of XRP, formerly known as ripple, continued to fall on Friday as investors sought to profit on recent highs. The 14-day relative strength index (RSI) is currently tracking at 57.31 after colliding with a ceiling at 58.00. Bulls refused a breakout from a floor of $0.4250 despite the decline in sentiment, and XRP is currently trading at $160.65. News Sorce

Bitcoin Supercycle May Be Happening, Says Commodity Strategist Mike McGlone

Bitcoin Supercycle May Be Happening, Says Commodity Strategist Mike McGlone

According to Mike McGlone, senior commodity strategist at Bloomberg Intelligence, a supercycle in bitcoin may be in progress as the cryptocurrency is currently outperforming gold by a factor of almost ten. He clarified that bitcoin’s (BTC) “nascent stage of low and rising adoption vs. diminishing supply” is an advantage it has over most commodities. He added that, “typical compared with most assets,” Bitcoin’s price has been rising in an extended period of time relative to the Bloomberg Commodity Spot Index. Finally, he pointed out that if historical patterns continue, when bitcoin “heads toward new highs,” its volatility is more likely to recover than that of commodities. News Sorce

Ethereum Price Rally To $2,000 On The Horizon, As Bears Show Weak Hands

Ethereum Price Rally To $2,000 On The Horizon, As Bears Show Weak Hands

The price of Ethereum began a new rise above the $1,800 barrier against the US dollar and is currently aiming to climb toward $2,000. The price is currently consolidating gains as an important bullish trend line with support at $1,780 forms. Get a 150% Welcome Bonus plus 100 Free Spins on your deposit right away by taking advantage of this crypto deal! With a crucial bullish trend line forming, the price of ethereum is currently trading above $1,780 and the 100 hourly simple moving average. The bulls’ next target is $2,000, and they expect to test the $2,120 resistance area in the near future. In the event that ethereum is unable to overcome the $1,850 resistance, it may begin a new downtrend and fall as low as $1,720.The MACD is now losing momentum in the bullish zone, and the RSI is now above the 50 level. News Sorce

Biggest Movers: DOGE Rebounds, LTC Climbs 13% Higher

Biggest Movers: DOGE Rebounds, LTC Climbs 13% Higher

One of the top gainers on Thursday was Litecoin (LTC), whose prices increased by as much as 13% during the current session. The meme coin Dogecoin (DOGE) also increased as it recovered from Wednesday’s losses. While DOGE/USD climbed to a five-day high of $0.07818, LTC/USD sped to an intraday high of $91.70. The move has brought the 10-day (red) moving average and the 25-day (blue) moving average closer to crossing upward, but the relative strength index has a ceiling (RSI). News Sorce

Biggest Movers: XRP Surges to Strongest Point Since November

Biggest Movers: XRP Surges to Strongest Point Since November

Markets reacted to news that suggested a decision in Ripple’s case against the SEC may be imminent by driving XRP to its highest level since November. On Wednesday, Cardano also increased and reached a one-month high. Despite the slight decline, the 10-day (red) moving average is still in an upward trend, and the 14-day RSI is currently tracking at 60.93, its highest value since mid-February. News Sorce

eToro raises $250M after terminating SPAC deal

eToro raises $250M after terminating SPAC deal

After failing to go public in 2022 through a special purpose acquisition company (SPAC) merger, eToro has raised $250 million in funding at a $3.5 billion valuation. ION Group, SoftBank Vision Fund 2, Velvet Sea Ventures, and a few previous investors are among the participants in the round. As part of its proposed SPAC transaction, the company entered into an Advance Investment Agreement (AIA) in early 2021, which provided the funding. In 2022, eToro’s commissions totaled $631 million, a 49% decrease from 2021 and a 5% increase from 2020. According to its SPAC filing, revenue will amount to $2.5 billion by 2025. News Sorce

Bitcoin Price Corrects But Uptrend Is Still Intact and BTC Could Rally Again

Bitcoin Price Corrects But Uptrend Is Still Intact and BTC Could Rally Again

Even though the price of bitcoin is rising above the $27,000 resistance level, it is still below $27,800 and the 100 hourly simple moving average. On the hourly chart of the BTC/USD pair, there is a break below a significant bullish trend line with support located close to $27,900. The $28,000 region represents the next significant resistance. A player on BitStarz wins a record $2,459,124. News Sorce

Bitcoin Network Preps for Another Difficulty Spike as Hashrate Remains Strong and Miners Profit Amid Price Surge

Bitcoin Network Preps for Another Difficulty Spike as Hashrate Remains Strong and Miners Profit Amid Price Surge

On March 24, 2023, Bitcoin’s difficulty is anticipated to increase once more following two consecutive increases. The network’s hashrate remains above the 300 exahash per second (EH/s) range, and the estimated difficulty change for Friday, March 24, is anticipated to be between 2.51% and 5.7% higher than the current 43.55 trillion. With 97.22 EH/s, or 30.31% of the global hashrate, Foundry USA is currently the leading bitcoin mining pool. Foundry, Antpool, F2pool, Binance Pool, and Viabtc are the top five bitcoin mining pools, controlling 84.52% of the market. News Sorce

Biggest Movers: XRP Hits 2-Month High, Despite Crypto Consolidation

Biggest Movers: XRP Hits 2-Month High, Despite Crypto Consolidation

On March 21, XRP, formerly known as ripple, climbed to a two-month high in spite of crypto markets consolidating. Cardano prices increased by as much as 3% today, putting it in the black as well. The intraday high for XRP/USD was $0.4283, breaking through a significant resistance level. Additionally, the RSI crossed its own upper limit and is currently tracking at 65.76, which is above a point of resistance at the 57.00 level. News Sorce

Why is Bitcoin rising amid collapsing banks? Watch The Market Report

Why is Bitcoin rising amid collapsing banks? Watch The Market Report

The resident expert at Cointelegraph, Marcel Pechman, explains why Bitcoin is on the rise and why banks are failing. As part of an “emergency ordinance” to stop the instability of the financial markets, UBS Group agreed to purchase Credit Suisse for $3.25 billion. With investors taking refuge in short-term Treasury securities, Bitcoin’s chances of rising to $30K are decreasing. Pechman explains why Bitcoin may not reach $30,000 anytime soon. News Sorce