3 reasons why Ethereum price might not hit $5,000 anytime soon

Ether (ETH) price has been in a downward spiral ever since the Ethereum co-founder Vitalik Buterin presented at the StartmeupHK Festival 2021. In a fireside chat session on May 27, Vitalik stated that several internal team conflicts caused the Proof-of-Stake migration to delay its launch. As reported by Cointelegraph, ‘Phase One,’ which introduces scalability through sharding, has been postponed to 2022. Furthermore, DeFi’s inherently decentralized nature might not be entirely beneficial because the sharding-style processing would need to run transactions through a relay chain. Ether price in USD at Coinbase.…

Pro traders look for this classic pattern to spot Bitcoin price reversals

Every trader aims to buy low and sell high, but only a few are able to muster the courage to go against the herd and purchase when the downtrend reverses direction.  When prices are falling, the sentiment is negative and fear is at extreme levels, but it’s at times like these that the inverse head and shoulders (IHS) pattern can appear. The (IHS) pattern is similar in construction to the regular H&S top pattern, but the formation is inverted. On completion, the (IHS) pattern signals an end of the downtrend…

Amazon rumored to be accepting Bitcoin, MicoStrategy pledges to buy more BTC, Bitcoin struggles at $40K: Hodler’s Digest, July 25-31

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week   Amazon plans to accept Bitcoin payments this year, claims insider The crypto community was going wild at the beginning of this week after rumors circulated that Amazon was planning to accept Bitcoin payments.  The rumors started after Amazon posted a job opening for a…

German law allowing institutional funds to hold crypto comes into effect Aug. 2

Beginning on August 2, 2021, German institutional funds will be able to hold up to 20% of their assets in cryptocurrencies, possibly setting the stage for wider mainstream acceptance of Bitcoin (BTC) and other crypto assets by the nation’s pension funds.  As Bloomberg reports, the new law alters fixed investment rules governing Spezialfonds, also known as special funds, which are only accessible to institutional investors such as pension funds and insurers. Spezialfonds currently manage about $2.1 trillion, or 1.8 trillion euros, worth of assets. Related: Hedge funds see the crypto…

Bitcoin ‘supercycle’ sets up Q4 BTC price top as illiquid supply hits all-time high

Bitcoin (BTC) is gearing up for a comeback which should lead it to repeat classic bull run years 2013 and 2017, analysts are arguing. As $42,400 local highs appeared on July 31, narratives around the market are flipping back to a bullish Bitcoin “supercycle.” Bulls come out for 2021 close Bitcoin has been busy repairing the impact of the China miner rout since mid May, but last week’s price advances were stronger than most anticipated Related: Bitcoin open interest mimics Q4 2020 as new report ‘cautiously optimistic’ on BTC rally Rather…

If you have a Bitcoin miner, turn it on

In the last few weeks, the Bitcoin (BTC) mining market has experienced a black swan event, leading to a lot of uncertainty and confusion surrounding the future of the market. This is why I felt it was right to give the public a quick update and explain why it’s a fantastic time for Bitcoin mining in the United States. Bitcoin miners are rewarded Bitcoin for securing the network and for each block they mine. As more miners participate, the difficulty rate increases and the reward for each individual miner’s security…

Do crypto ATMs make buying BTC easier for the mainstream?

Cash may be king when it comes to purchasing Bitcoin (BTC), as recent data states that there has been a spike in crypto ATM installations during 2021, showing a 71.3% increase from Jan. 1, 2021, until the time of reporting. Specifically speaking, there are currently over 24,000 crypto ATMs located across the globe. Data further suggests that crypto ATMs are being installed at a rate of about 52.3 machines per day.  While growth is clearly underway for the cryptocurrency sector, the reason behind the surge in crypto ATMs may be due…

Bitcoin records rare 10-day winning streak as BTC price taps $42K ceiling

Bitcoin (BTC) shot to new highs of $42,400 on July 31 in a surprise attack on range resistance which sellers failed to squash. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin seals 10 green candles in first since 2012 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining for a tenth straight day across exchanges, reaching $42,420 on Bitstamp. A subsequent cooling-off preserved most of the gains, with Bitcoin circling $41,900 at the time of writing, still up over 8% over the past 24 hours. In trading circles, talk focused…

The future of DeFi is spread across multiple blockchains

Long stuck in the shadows of Bitcoin (BTC), Ethereum (ETH) finally took hold of the market in 2020 during the decentralized finance summer. Designed to recreate traditional financial systems with fewer middlemen, DeFi is now being used across lending, borrowing, and the buying and selling of tokens. The majority of these decentralized applications (DApps) are run on Ethereum, which saw activity on the network increase during 2020. This activity also trended upwards due to yield farming, also known as liquidity mining, which enables holders to generate rewards with their crypto…

Traders forecast $3K Ethereum price but derivatives data suggests otherwise

Ether (ETH) rallied 35% over the past ten days and reclaimed the critical $2,300 support, but the crucial $2,450 local top hasn’t been tested since June 17. Part of the recent recovery can be attributed to the London hard fork, which is expected to go live on Aug. 4.  Traders and investors view the EIP-1559 launch as a bullish factor for Ether price because it is expected to reduce gas fees. However, Ether miners are not thrilled with the proposal because the proof-of-work model will no longer be necessary after…