Bitcoin stays under $30K as LUNA gains 600% during ‘insane volatility’

Bitcoin (BTC) failed to reclaim $30,000 into May 14 as traders looked forward to a relatively stable weekend. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitfinex longs gather strength Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered below the $30,000 mark, now rapidly becoming resistance. The pair had reached just shy of $31,000 before retracing, while the end of the traditional market trading week had been accompanied by fresh warnings of a new macro low still to come. #Bitcoin – Looks like we might get the…

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Why one trader says ETH/BTC looks ‘absolutely insane’

Ether (ETH) price is seeing green in its Bitcoin (BTC) pair on April 21, reaching the highest levels since early February. Given the technical breakout of ETH/BTC, traders are beginning to expect a strong rally in the foreseeable future. During the first two weeks of April, ETH was outperformed by Binance Coin (BNB), the native token of Binance Smart Chain. The high transaction fees on Ethereum coupled with the high user activity on Binance Smart Chain led BNB to gain momentum against Ether. However, in the past few days, ETH…

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‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level

Bitcoin (BTC) has seen “unreal” price consolidation since the start of February 2021 — and fundamental support is now at $48,000. According to on-chain monitoring resource Glassnode, the second month of the year has been a formative period for Bitcoin like no other. $35,000 Bitcoin? So last month Discussing the current state of the Bitcoin network, co-founders Yann Allemann and Jan Happel said that many price indicators had been allowed a “reset” in February. “The amount of consolidation Bitcoin has seen since January is unreal. It really allowed fundamentals to catch…

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The good news for ETH hodlers about insane gas fees

Ethereum and DeFi proponent Ryan Sean Adams has drawn attention to how high gas fees relative to the current Ether price could actually be a bullish sign.  Citing this week’s Grayscale research paper ‘Valuing Ethereum’ the Bankless commentator claimed that Ethereum is “actually getting cheaper” from a price to sale ratio aspect. Here’s what’s crazy… From a P/S perspective ETH is actually getting *cheaper* pic.twitter.com/xyz9yuVCyZ — Ryan Sean Adams – rsa.eth (@RyanSAdams) February 4, 2021 A price to sales ratio (P/S) is usually calculated by taking a company’s market capitalization…

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‘Insane’ ETH fees delay launch of Aavegotchi NFT game

Decentralized finance project Aavegotchi is pushing back the mainnet launch of its non-fungible token digital collectible game due to high activity on the Ethereum blockchain. According to a Tweet from its team today, Aavegotchi will be postponing the Jan. 4 launch of its game in response to the “insanely high gas costs” and “extreme volatility” on Ethereum. The project also stated it will “most likely” migrate to the Matic Network — a smart-contract platform and layer two scaling solution for Ethereum. “Aavegotchi on L2 means no gas fees, faster transaction…

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We’ve Seen This Insane Market Rally Before — Here’s How It Plays Out

The post-March stock rally is following the returns after the financial crisis. That suggests stocks could still see another 20%-plus returns. The move is driven by zero percent interest rates, not fundamentals. The stock market rally of 2020 has been compared to the late 1990s “devil may care” pre-internet bubble crash. A better analogy would be the Great Financial Crisis of 2008-2009. Rally Tracking Post-Financial Crisis Crash Based on valuation thanks to earnings, the 2020 stock market rally is following pretty closely to how stocks performed back in early 2009.…

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Bitcoin Price Above $50K ‘Not Insane at All’

Bitcoin investor and research analyst Tuur Demeester doesn’t see the coin going below $6,000 after the rewards halving, with a price of at least $50,000 certainly possible in the future. In a video posted to crypto research firm Messari’s YouTube channel on May 18, Demeester said Bitcoin (BTC) was “back in a bull market” following the halving, with a bottom in the $3,000-$4,000s already past — referring to the March crypto bloodbath.  The analyst went on to speculate as to how the recent inflationary measures by the Federal Reserve could…

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Nasdaq Just Turned Positive For 2020 – Here’s Why That’s Insane

The Nasdaq has soared so much it is now to the point it was at the start of 2020. Tech giants like Amazon and Netflix have driven the Nasdaq higher as the coronavirus boosted their business. The tech stocks bubble is about to burst as tech companies are overvalued. After crashing 30% from its February peak, the Nasdaq bottomed out on March 23 and has soared more than 30% since. The index just turned positive for 2020. In comparison, the Dow is down about 15% year-to-date. The Nasdaq is entering…

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Of Course The Onion Predicted Trump’s Insane Lysol Theory

The Onion predicted Donald Trump’s bizarre disinfectant gaffe. A March article joked Trump might tout cleaner as a coronavirus cure. It’s a horror world where The Onion is as prophetic as The Simpsons. In a very unwelcome instance of life imitating satire, The Onion actually predicted last month that Donald Trump would suggest using cleaning products like Lysol to cure coronavirus: EVANSTON, WY—Throwing bottles of bleach, ammonia, and Drano into a cart at his local grocery store, area man Troy Mitchell was reportedly stocking up on one of every cleaning…

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Lindsay Lohan’s ‘Back to Me’ Proves One Thing: She’s Still Insane

Lindsay Lohan dropped new music, proving that she’s still as crazy as a box of frogs. “Back to Me” is two-and-a-half minutes of self-absorbed nonsense for the Instagram era. Lindsay, we’ve got enough problems right now without our ears exploding. Lindsay Lohan was once a child star in her prime, raking in millions and starring in hits like The Parent Trap and Mean Girls. As she moved into adulthood, the actress went from squeaky-clean starlet to a bankrupt jailbird flailing to make money any way she can. Source: Twitter Over…

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