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Category: crypto market

Crypto Market Goes Into “Extreme Greed,” What This Means For Bitcoin

Bitcoin is still headed for the moon even as the weekend goes on. The price of the asset has not seen much in the way of a downturn following its massive price increase from last month. Overall sentiments in the crypto market are still very positive, as evidenced in the Fear & Greed Index. The index which had spent the better part of the last two months following the market all-time high has now turned into the most coveted territory. The crypto Fear & Greed shows that the market has now gone into “extreme greed.” Continuing its upward trajectory from the last couple of weeks. The index had gradually made its way out of “extreme fear,” when the market seemed to be in its most vulnerable. Prices were crashing from both bitcoin to altcoins. This saw sentiments decline into negative. Related Reading | Do COVID-19 Cases Work As A Bitcoin Trading Signal? The first week of August brought a gush of fresh air when the market moved out of extreme fear into the fear territory. Although this was not ideal, it showed that cryptocurrencies were once again making progress. A week of continuous uptrend brought the price of the digital asset into neutral. Then what followed was a quick run-up into the “greed” territory. Bitcoin had broken $40K and there was no telling how long the run-up would go on. Investors did not want to miss out on this and so money poured back into the market. Last week saw the price of bitcoin breaking $48K for the first time in over two months after it hit its $64K all-time high. This continued growth pushed the market sentiment right into ultra-positive, with the Fear & Greed Index running into “extreme greed,” scoring 78 on the scale yesterday and 76 today. Indicating that investors were back putting money into cryptocurrencies. Crypto market moves into Extreme Greed | Source: Fear & Greed Index on Bitcoin Market Taking The Hint With the Fear & Greed Index in “extreme greed,” tremendous buy pressure has been on the market. Money has flooded back into the market, sending the prices of cryptocurrencies skyrocketing. Following this has been the total crypto market hitting $2 trillion again after suffering continuous lows in the preceding two months. Altcoins have seen a lot of growth with this, as has Bitcoin. BTC price trading north of $48K | Source: BTCUSD on Bitcoin price, while currently trading north of $48K, shows tremendous promise in hitting a new all-time high. Indicators point in the direction of this bull rally continuing. Momentum has held up all across the market. This means that even though the price might experience small dips, overall control of the price lies in the hands of the bulls, determined to drive the bullish vehicle for as long as possible. Related Reading | South African Man Loses $900,000 Worth Of Bitcoin After Accidentally Deleting Keys Both institutional and individual investors have shown patterns of accumulation with bitcoin. Exchange inflows have fallen far below exchange outflows, indicating that investors are moving their digital assets from cryptocurrency exchanges for safekeeping in private wallets. Featured image from Finance Magnates, chart from
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Cardano (ADA) And Dogecoin (DOGE) Record Highest Gains As Crypto Market Surges

Cardano (ADA) and Dogecoin (DOGE) have gained fast as the crypto market surges. The last 24 hours continue to be an interesting one for the crypto market as prices have surged across the board following a bullish run-up. Top coins like Bitcoin and Ethereum have seen massive price gains so far. The entire crypto market cap has seen over $1 billion added to it in just 24 hours. As the run-up continues, altcoins like ADA and DOGE continue to show tremendous market movements. The price of both digital currencies has jumped over 10% each and continues to cruise higher as investors come back into the market. Bull traders have now taken over the market as bears record increasing losses. Related Reading | Cardano Aims To Facilitate Users With Smart Contracts Shorts liquidations across the markets have crossed $1 billion, with liquidations in Dogecoin being the fourth-highest so far in the market. Altcoins continue to see recovering trends as most of the market turns towards green in this surprising turn of events this week. Dogecoin, Cardano Continue Upward Trend Dogecoin so far continues to lead the charge, posting a 13% price gain in the last 24 hours. DOGE which had continued to see downwards trends as the hype around the coin and ‘Dogefather’ Elon Musk died down has now broken out of the rut it seemed to have been stuck in for the better part of last week. DOGE price moved from trading at $0.195 to breaking above $0.20, to be sitting at the current price of $0.2244 where it now trades currently. Crypto market gains over $1 trillion in 24 hours | Source: Crypto Total Market Cap on Cardano (ADA) has continued in this vein to post gains of over 11% as the current rally rages on. The digital asset which had been trading for $1.20 had a tremendous run-up the saw the price hit $1.32 in a matter of hours. Both digital currencies continue to show double-digit price gains in the market. Dogecoin market cap now sits at $29 billion as Cardano market caps experience gains to put it at $43 billion. Bullish News Moving The Crypto Market Cap The past week has seen more support coming out for bitcoin and other cryptocurrencies. News like billionaire Elon Musk confirming that Tesla and SpaceX hold bitcoin on its balance sheet has proven to be very bullish. The market had shown positive sentiment as the price of bitcoin had gone up after the announcement. Breaking $32,000 and maintaining a momentum that saw the price going past $34,000. Related Reading | SpaceX Has Bitcoin On Its Balance Sheet, Elon Musk In the same conference, Musk had confirmed that he personally held Bitcoin, Ethereum, and Dogecoin. Proving that the billionaire had never sold his holdings in the meme coin. Musk had also confirmed that while he may pump coins, he has never dumped his coins. Hot on the heels of this came the news that Amazon was working towards integrating bitcoin into its platform. With cryptocurrencies being speculated to be a payment method for the e-commerce giant, sentiments had grown in favor of the crypto market and as such, investors seem to have returned to the crypto space with a renewed vigor. Related Reading | Cardano (ADA) Launches Crypto Charity Platform With Rwanda-Based NGO On Sunday, after rumors circulated that an insider from the e-commerce giant confirmed the integration of cryptocurrencies, prices surged as the weekend came to a close. So far, the crypto market has seen continuing support as cryptocurrencies continue to maintain their gained value, and charts across the market remain in the green. Dogecoin and Cardano continue to top the list of gainers in the market. Featured image from Nairametrics, chart from
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Just-In: Coinbase Gets FSA Approval to Enter Japanese Crypto Market

Coinbase ($COIN), one of the largest crypto exchanges based out of New York is all set to enter the Japanese crypto market after getting approval from the country’s top regulatory watchdog Financial Sevice Agency (FSA). The FSA registered Coinbase as a crypto exchange under the revised Fund Settlement Act. The Nasdaq listed crypto exchange would

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CABEI Comes to El Salvador’s Rescue Amid IMF Concerns, Offers to Assist in BTC Implementation

The Central American Bank for Economic Integration (CABEI) has come forward to help El Salvador with the technicalities of Bitcoin implementation as a legal tender. Dante Mossi, the chief of CABEI said they will be select a first-rate technical team that would work with the Salvadorian government to implement the changes. Mossi said, The signal

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Crypto Market Cap Falls Below $1.5 Trillion on a Red Weekend

The cryptocurrency market cap fell below $1.5 trillion on a red weekend. More than $100 billion was wiped off the marker as it retraced by 5%. Bitcoin and other altcoins registered a 5%-10% decline as major market indicators flashed bearish signals. Bitcoin price is currently trading at $35,668 falling from a daily high of $37,531.

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Top Market Indicators Suggest Crypto Market is in ‘Cool-Off Phase

The cryptocurrency market saw its market cap get reduced by 4.5% over the past 24 hours, wiping nearly $100 billion off the market. The growing bearish sentiment has been prevalent since last month when the crypto market experienced its largest correction this year. Analysts suggest the market is slowing down and in a cool-off phase

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