Coinbase Premium Tanks to an All-Time Low During Bitcoin Sell-Off

But soon it skyrocketed to nearly +$500.

The price of cryptocurrencies continued its downwards journey until a good bunch of longs was liquidated, and the price of Bitcoin went under $50k.

BTC went down as low as $48,250, down 27.5% from Sunday’s all-time high around $58,300.

With this latest dip, the leading digital currency has turned the old ATH of $46,700 into new support, noted analyst and trader Rekt Capital. However, the trader says this is not a Bitcoin correction because, historically, the trend tends to between 30% to 40%.

“But there are many more dips along the way which are much shallower than -30%,” added Rekt Capital.

This pullback pushed Coinbase Premium, the gap between Coinbase Pro price (USD pair) and Binance price (USDT pair) to an all-time low of -$1,020. Soon after, this premium skyrocketed to +486. Coinbase whales are actually the ones driving the market, and they took this opportunity to accumulate more BTC.

MicroStrategy and Tesla also availed Coinbase’s services to make their Bitcoin purchases.

This means, “Even if there are more corrections, it’s unlikely to go down below 44k,” said Ki Young Ju, CEO of CryptoQuant.

image2

Source: CryptoQuant

While after a wild rally that pushed us past the $1 trillion dollar market cap, correction is sometimes expected, we are also to blame for this correction because last week, the Crypto Twitter (CT) went crazy with red lasers, quipped another trader Josh Rager.

What actually exacerbated this sell-off was the degens that were trading with high leverage. In the last 12 hours, $3.64 billion worth of liquidation happened. In the past 24 hours, it was nearly $4 billion, as per Bybt.

Binance lead in these liquidations, accounting for $1.58 billion of them, followed by Huobi ($878.53 million), OKEx ($426.63 million), and Bybt ($322.49 million). Bitfinex and Deribit saw the least amount of liquidations at 8.74 million and $55.14 million, respectively.

image1

Source: ByBt

The liquidation helped the funding rate on BTC perpetual contracts to come down between 0.0068% on Deribit and 0.0686% on Binance. On OKEx, funding is negative.

For now, the market has recovered from the lows as Bitcoin now trades around $52,644.

Amidst the red market, good news came from Vancouver-based cannabis company Vinergy that announced the expansion of its investment policy to include Bitcoin and cryptocurrencies as the “influx of investment and increased institutional adoption is creating a highly lucrative opportunity.”

Read Original/a>
Author: AnTy

Cardano Hits Decentralization Milestone; 50% Of Blocks Come from Community Stake Pools

  • Cardano blockchain is in the final half of its journey to total decentralization.
  • Over 1,210 staking pools are live – surpassing the targeted 1,000 marks.

The lead development organization of Cardano, Input Output Hong Kong (IOHK), announced public staking pools are now validating over 50% of the blocks. The statement on Twitter shows that the blockchain is gradually moving towards total decentralization following the launch of the long-awaited Shelley mainnet earlier this year.

Cardano, a brainchild of Ethereum’s co-founder, Charles Hoskinson, is transitioning from a federated system operated by the IOG, the creators, to a fully decentralized blockchain controlled and operated by the public stake pools.

Following Shelley’s launch, Cardano began its journey to total decentralization with “the percentage of blocks produced by public stake pools increasing at every epoch until block production on Cardano becomes fully decentralized.” The statement reads,

“Currently, 50% of the blocks are [validated] and produced by the stake pools.”

At the Shelley mainnet network launch in late July this year, ADA (Cardano’s native token) holders can now delegate their tokens to community-run stake pools and earn rewards. Before, in the earlier centralized era of Byron, the IOG produced the blocks and earned rewards to ensure the continuous development of the blockchain.

At epoch 3, the Cardano blockchain introduced the first decentralized stake pools minting ADA token. Currently, at epoch 227, a total of 1212 public stake pools have joined the minting process, as of writing – surpassing the targeted 1,000 stake pools.

With the rise of community stake pools, IOG (federated IOHK nodes) will delegate a substantial stake to other community pools. This is an effort not to increase “D” and avoid the re-centralization of Cardano block production, Kevin Hammond, IOHK’s software engineer, stated in a blog post in August.

As of Friday this week, Cardano expects the d-parameter (decentralization parameter, whereby d=1 is completely centralized and d=0 is fully decentralized) to drop to 0.48 – showing the Cardano community will be running most of the block production.

Interesting times ahead for Cardano ahead!

Read Original/a>
Author: Lujan Odera

ZCASH Price Prediction: Long-term (ZEC) Value Forecast – July 28

Zcash Says Goodbye to Its Name, Rebrands as 'Electric Coin Company'
  • The journey to the south may be sustained in the long-term outlook.
  • $56.77 in the demand area is the bears’ targets in days ahead.

ZEC/USD Long-term Trend: Bearish

Supply zone: $120.00, $140.00, $160. 00
Demand zone: $50.00, $40.00, $30.00

The cryptocurrency long-term outlook remains in a downtrend. The bears attained their dominance in last week session with a low at $66.31 in the demand area on 27th July.
The trendline is a strong resistance with a bounce to the downside each time price touches it. The touch came during yesterday session as ZECUSD rose to $75.22 in the supply area.

$56.77 in the demand area remains a target as the momentum increased down south. This was a market correction of the bears’ impulsive move.

The new week is starting on a bearish note at $69.03 with a drop at $66.77 below the two EMAs. It suggests a strong bears pressure on the cryptocurrency in the days ahead coupled with the signal of the stochastic oscillator pointing down at 20%.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

Read Original/a>
Author: Azeez Mustapha

ZCASH Price Prediction: Long-term (ZEC) Value Forecast – July 21

New-Ycash-Fork-Happens-a-Friendly-Zcash-Blockchain-Hard-Fork-to-Enhance-Mining-Benefits

The journey down south continues in the long-term.
$56.77 in the demand area is the bears’ next target.

ZEC/USD Long-term Trend -Bearish

Supply zone: $100.00, $120.00, $140. 00
Demand zone: $50.00, $40.00, $30.00

The cryptocurrency long-term outlook remains in a downtrend. $70.00 in the demand area predicted as the bears’ initial target in last week article was hit on 15th July. The close of the day as a bearish spinning preclude a continuation the next day as the bears drop the ZECUSD further down to $63.41.

This was the low of the week as the bulls stage a comeback pushing price back up to $86.54 in the supply area. This was a market correction of the bears’ impulsive move.

The 10-EMAs is seen acting as strong resistance against upward price movement a with the candle closing with wicks around the area with the week closing as inverted hammer an indication of a trend reversal.

The new week is starting on a bearish note at $77.75 with a drop at $73,30 below the two EMAs. It suggests a strong bears pressure on the cryptocurrency in the days ahead coupled with the signal of the stochastic oscillator pointing down at 23%.

$56.77 in the demand area is the bears’ next target as it journey down south resumes.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

Read Original/a>
Author: Azeez Mustapha

Bitcoin’s Roller Coaster Week: Ebbing and Flowing With Futures Expiry

Bitcoin's Roller Coaster Week: Ebbing and Flowing With Futures Expiry

Bitcoin has been on an interesting and energetic journey over the last couple of weeks. Having seen values soar by more than $2,000 as of Wednesday, pushing it beyond $11,500 to a staggering $14,000 with a record breaking volume of more than $44 billion dollars

While it enjoyed a brilliant rally, it also endured a similar kind of reversal in as many days starting off last night by European time, receding back to around $11,800 on Thursday.

What we can see from some of the above candlestick charts, especially from the large green candle alongside the equally substantial red candle, with Bitcoin managing to scrape at the incredibly rare $14,000 marker.

While this was more than a welcome surprise for  investors, this price point was an unfortunately shaky one, with a range of fast movements and a general ‘feeling’ of great heights from the market. As a result, a price correction was expected to be around the corner.

The moment that it manages to reach the $14,000 marker is also the time when we would all expect there to be a steady retreat away from it as BTC adjusts to newer heights. As it all looks pretty standard for the most part.

While this is the way the cookie crumbled for the Bitcoin market of 2017, the past is no clear indication of what the future holds for crypto. We have a pretty extensive lesson to take from the meteoric surge that Bitcoin underwent during 2017.

Back during that time in 2017, when Bitcoin successfully managed to push upwards from around $9,000 to around $12,000 all before staggering back down to about $9,000, with it managing to climb further up from thereafter.

In contrast, Bitcoin, while managing to do the same here, but at higher points of $14,000 and higher still before it reaches resistance levels at around $17,000.

Were it to have climbed up even further without any kind of correction then perhaps there may have been a more substantial reason for investors to feel concerned about the ongoing reversal, but the current dip that Bitcoin is experiencing is actually pretty healthy all things considered.

This is substantiated by the fact that CME Bitcoin futures officially close tomorrow, not before clocking in a truly amazing 132,455 Bitcoin representative contracts being exchanged over the course of yesterday along – totaling an incredible 1.5 billion dollars.

CME’s Bitcoin Futures contracts have been at a pretty strong premium and continue to operate at the same level during the time this is published, with a longer premium rate placed on contracts for September as well, some of which are being priced at more than $600.

So what does this mean for Wall Street overall? Ultimately, its overall performance is basically in the green, but there is to be some loss expected with this as yet healthy performance.

While this is the case, there has been some noticeable one off market selling over the course of Wednesday evening. As a result of this news, it may be the case that Wall Street was responsible for the dip, while the June contract comes to a close on Friday.

This isn’t so much of a surprise for more experienced investors, however, the dipping pattern ahead of the expiry of futures contracts has been happening with a degree of regularity over the past 3 months, almost like clockwork, with CME’s futures design facilitating this trend.

While this may not essentially be something that is wholly unique to Wall Street, but with what we have previously seen with the likes of OKCoin, which had been regarded as one of the popular settled futures related to Bitcoin – this too had created a similar kind of ebb and flow pattern.

Read Original/a>
Author: James Fox

ZCASH Price Prediction: Long-term (ZEC) Value Forecast – June 16

Zcash (ZEC) Overnight Hard Fork Successfully Executed, What's Next?
  • The journey to the north may be sustained with strong bullish pressure.
  • $100.00 in the supply is the bulls first target in the long-term.

ZEC/USD Long-term Trend: Bullish

Supply zone: $120.00, $140.00, $160. 00
Demand zone: $50.00, $40.00, $30.00

The cryptocurrency is a bullish trend in the long-term outlook. $75.49 in the demand area was the point of further rejection of downward price movement at the trendline. The presence of wicks around the trendline and the formation of the bullish candle signaled the bulls returned. ZECUSD rose to $85.00 above the 10-EMA.

Further confirmation of the market under the bulls control occurred with the large candle of 12th June. Price rose initially to $92.53 and later to $95.99, the high of the week.

The stochastic oscillator signal points up at 83% in the overbought region as the new week began on a bullish note. This is coupled with price above the two EMAs that are fanned apart. These suggest a bullish continuation in the long-term.

The bulls may keep price above the trendline in the days ahead with more candles open and closed above the EMAs as momentum increased and new traders take positions.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

Read Original/a>
Author: Azeez Mustapha

ZCASH Price Prediction: Long-term (ZEC) Value Forecast – June 2

Zcash-Fixes-And-Discloses-Vulnerabilities-That-Would-Allow-For-Infinite-ZEC-Counterfeiting
  • The journey to the north may be sustained with strong bullish pressure.
  • $100.00 in the supply is the bulls first target in the long-term.

ZEC/USD Long-term Trend: Bullish

Supply zone: $120.00, $140.00, $160. 00
Demand zone: $50.00, $40.00, $30.00

The long-term outlook of ZCASH is uptrend. The bullish spinning top on 23rd May formed after bearish exhaustion at $67.74 in the demand area signaled the bulls returned. The cryptocurrency was up at $89.23 in the supply area with a large engulfing candle on 23rd May.


The week ended on a bullish note after price rose to $97.95 in the supply area due to increased bullish momentum. The cryptocurrency was at this supply area on 29th November 2018, almost six months ago.

Price is above the two EMAs and the stochastic oscillator is up at 62%. These suggest strong bullish momentum to the upside.

A breakout at $100.00 in the supply area and a subsequent retest may occur in the long-term

The views and opinion as expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

Read Original/a>
Author: Azeez M