CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, WAVE News, CARDANO News, RIPPLE News
Bitcoin Recovers From $ 45k Why It May Spend Around $ 52k
The bitcoin price continued its decline and tested the support of $ 45,000 against the US dollar.
Bitcoin suffered heavy losses below the $ 52,000 and $ 50,000 support levels. BTC even tested the $ 45,000 support zone and settled well below the 100-hour simple moving average.
The low has formed around $ 44,960 and is currently recovering from losses. It corrected above the $ 46,500 and $ 48,000 resistance levels. There was a break above the 23.6% Fibonacci retracement level on a downside move from a swing high of $ 58,400 to a low of $ 44,960.
Ethereum Recovers Above $ 1,600 Why ETH May Retest $ 1,500
Ethereum continued to fall below $ 1,500 against the US dollar.
Ethereum was unable to hold above the $ 1600 and $ 1500 support levels. ETH even extended its fall below the $ 1,450 support level and settled well below the 100-hour simple moving average, similar to Bitcoin.
There was also a jump below the $ 1,400 level and the price traded up to $ 1,357. Price is currently correcting losses and trading above $ 1,500. There was a break above the 50% Fibonacci retracement level of the recent decline from the swing high of $ 1804 to the swing low of $ 1357.
Square Invests Another $ 170 Million In Bitcoin As A Wave Of Institutional Support Floods Crypto
Square optimized bitcoin’s temporary plunge and bought back more digital assets with roughly 3,318 bitcoins.
According to Square’s Q4 report, Square’s total treasury reserve is now 5% dedicated to Bitcoin.
Cardano Stays Strong Above 100 SMA Why It Might Rise Again
Cardano’s price hit a new multi-month high of $ 1.23 before correcting lower.
In the past few days, the price of Cardano has started to rise steadily above the $ 0.9500 resistance.
XRP prepares for a massive jump to $ 0.65 as technical improvements
Ripple is recovering from support at $ 0.37; all focus is on $ 0.65 in the short term.
Ahead of the ongoing rebound, the cross-border cryptocurrency set support at $ 0.37. A large crowd of buyers at this level set the stage for growth above $ 0.4 and 200 SMA. XRP is currently hovering at $ 0.49 after stepping over the 50% Fibonacci retracement level taken between the last swing high of $ 0.66 and the low of $ 0.36.
Publicly traded crypto firms continue to plunge after losing $ 1 billion in market cap
Shares of US registered cryptocurrency mining companies and miner manufacturers have followed the downward movement of bitcoin.
In total, companies lost about $ 1 billion in their market capitalization. Bitcoin mining companies Marathon Patent Group, Riot Blockchain and Hive Blockchain closed on Feb.22 with share price declines of 14.24%, 9.21% and 7.6%, respectively, according to the Data Dashboard.
Meanwhile, shares of Chinese bitcoin mining hardware makers Canaan and Ebang, both listed on the Nasdaq, fell 15.89% and 23.96%, respectively.
Charles Hoskinson Announces Significant Updates For Cardano As Price Tries To Recover
While the ADA price is aiming to recover from a sharp drop, the Cardano founder hinted at upcoming products and vital network updates.
The decentralized open source project that powers the public blockchain smart contract platform, Cardano, plans to implement several significant updates in the next few months. During a recent interview, project founder Charles Hoskinson also noted that Cardano is in talks about potential partnerships with many industry companies such as Celsius, Fireblocks and Prime Trust.
USDT Drops To 2% RMB Markup Amid Falling Bitcoin Price
The USD / RMB exchange rate has now changed to a 2% markup over the USD / RMB exchange rate.
After the discount remained for several months, the US dollar / RMB exchange rate moved to a higher level than the US dollar exchange rate.
Industry players say this indicates a short-term shortage of USDT as the price of bitcoin briefly dropped below $ 47,000 on February 23 and over $ 5 billion worth of crypto derivatives positions have been liquidated in the last 24 hours.
State Bank of India subscribes to JP Morgan Liink Blockchain Solution
The State Bank of India has partnered with banking giant JP Morgan to leverage American bank’s Liink blockchain technology.
The Economic Times reported that the State Bank of India has joined the JP Morgan blockchain payment network, four months after JP Morgan announced the Liink update.