• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
Bitcoin price

Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

Nick Chong by Nick Chong
3 years ago
in Cryptocurrency news
Reading Time: 4 mins read
Advertisement

Another week, another round of Crypto Tidbits.

It’s been an explosive week for the Bitcoin and crypto market, to say the very least. Bitcoin surged from under $10,000 to as high as $11,500 this week. Over the past seven days, the asset has gained approximately 20% — the best weekly performance in many months.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
Chart of BTC's price action over the past two weeks from TradingView.com

Bitcoin’s recent price action comes as a breath of fresh air for crypto traders, which had to deal with BTC flatlining in the $9,000s for around two and a half months. The leading crypto asset is attempting to pass the local highs of $11,500 as this article is being written.

Despite the strength of the breakout, Bitcoin’s macro volatility indicators remain at historically low levels. This may suggest, according to Bitazu Capital’s Mohit Sorout, that BTC has room to rally to the upside as ongoing volatility seems to be favoring bulls.

This latest rally in the crypto market has brought Bitcoin above the pivotal $10,500 resistance. $10,500 marked the top of three separate Bitcoin rallies over the past year, suggesting it is of utmost importance for bulls to hold.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

This article will be released shortly after BTC closes the monthly candle for July. Analysts say that if Bitcoin can hold either $10,500 or $11,500 after that close, it is in an extremely good spot on a macro time scale. For context, Bitcoin closing above $11,500 would mean that BTC is at one of the highest levels (from a monthly candle perspective) since the $20,000 highs.

Bitcoin has actually been one of the best-performing cryptocurrencies of the past week as it being volatility has favored growth in major cryptocurrencies over smaller altcoins.

Ethereum, too, has done extremely well. It now trades at $345 — just shy of 2019’s high and up approximately 50% in the past two weeks alone.

Chart of ETH's price action over the past two weeks from TradingView.com

Some say that capital is cycling from hot DeFi tokens like Chainlink and Aave’s LEND to Ethereum and Bitcoin, hence their relative rallies.

Prominent investors in the space expect more upside for the crypto market. Speaking with CNBC on Tuesday, Galaxy Digital’s Mike Novogratz said that BTC is on track to hit $20,000 this year. Referencing how the narrative and how capital is shifting towards scarce assets likely in response to the Federal Reserve:

“A lot of that retail interest shifted to the story stocks, to the tech stocks, because they were just more fun … Yesterday you saw a lot of money shift back over to gold and bitcoin. There’s an adoption game in bitcoin that you don’t have in gold. But I like them both.”

Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold Bitcoin, DeFi Still in Vogue

Crypto Tidbits

  • All PlusToken Administrators Have Been Arrested: According to Chinese crypto insider Dovey Wan, the founding partner of Primitive Ventures, all members of the PlusToken leadership team have been apprehended by authorities. PlusToken is the multi-billion-dollar crypto scam that managed to accumulate billions worth of Bitcoin, Ethereum, and other digital assets in early 2019. Wan wrote on the arrests:

“27 core PlusToken team members are all arrested by Chinese police, the biggest crypto scam in the history so far, $3B worth of crypto is scammed… there are a series of legal enforment actions in past 12 months as it’s core team are all over the world took quite a while.”

  • SEC Warns of ICO Scams: Earlier this week, the New York office of the SEC wrote: “Be aware of potential scams involving Initial Coin Offerings.” Attached to this message was an investor alert from 2017, which warns of “potential scams involving stock of companies claiming to be related to, or asserting they are engaging in, Initial Coin Offerings (or ICOs).”
  • Cardano Shelley Launches: Blockchain founder Charles Hoskinson revealed that Cardano’s Shelley upgrade came through this week. The founder is optimistic about the growth projects of his brainchild, writing:

“This time next year I predict there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects and lots of unique use and utility. 2021 is going to be so much fun watching Cardano grow and evolve. The community is definitely ready to innovate.”

  • Ethereum 2.0 Testnet Validator Launchpad Launched: This week, the Ethereum Foundation, working in collaboration with ConsenSys and Deepwork Studio, released the official ETH2 Validator Launch Pad. The tool will allow users with 32 ETH to more easily stake their coins, to earn rewards and contribute to the Ethereum ecosystem.

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano's Shelley Launches
Tags: altcoinbitcoinbtcusdBTCUSDTCrypto Tidbitsxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Dogecoin

Dogecoin (DOGE) Makes Slight 6% Climb This Week – Here’s Why

1 hour ago
Bitcoin Nears $29,000 As Fed Rate Hike Brings Clarity To Market

Bitcoin Nears $29,000 As Fed Rate Hike Brings Clarity To Market

10 hours ago
Ethereum

Ethereum Bullish Signal: $560M In ETH Exits Exchanges

12 hours ago
Solana

Solana Price May Fall To $21 Before It Stages Another Recovery

13 hours ago
LUNC burn

New Proposal Wants To Burn All Coins In LUNC Oracle Pool, Will This Help The Price?

16 hours ago
Cardano

Cardano Has To Trade Above This Level To Breach The $0.40 Mark

18 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Litecoin (LTC) and Dogecoin (DOGE) Drowning in Controversy While TMS Network (TMSN) Steals the Show

March 24, 2023

The Best Altcoins To Get In Early 2023: TMS Network (TMSN), TRON (TRX) and Mask Network (MASK)

March 24, 2023

The Web3.Conference will gather Web3 builders & creators this May in Amsterdam

March 24, 2023

LFi Unveils LFi Smartphone, Providing Unprecedented Access to Decentralized Financial Opportunities

March 24, 2023

Cardano (ADA) and Polkadot (DOT) Prices Reach a Crucial Juncture, While TMS Network (TMSN) Attracts Investors in Stage 2 of Presale

March 24, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.