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Following a low-key third halving (in terms of price),was maintaining a sort of quasi-stability in the high-$8,000s for nearly two days.
On Wednesday, however, things started pacing up once again as the benchmark cryptocurrency crossed the psychological barrier at $9,000 and then went straight past the resistance at $9,200. Many observers were anticipating the bears to take over after the BTC price approached this key resistance line — but that didn’t happen.
At the time of publishing, the BTC/USD pair is trading just above $9,600, as bulls eye the resistance at $9,750.
In between all the speculations surrounding the BTC price, data from Blockchain.com has confirmed that miners lost almost 47% in revenue on Tuesday after block rewards were slashed in half on the previous day. More specifically, compared to $17.16 million in block rewards and transaction fees on Monday, miners pulled off only $8.95 million on Tuesday. That figure further slid further down to $7.82 million on May 12.
Meanwhile, in other important news:
Bitcoin’s current upward momentum seems to be following a January 2014 fractal, according to the well-known crypto trader @CryptoCapo_. If the fractal continues to be followed, BTC will break down from this ascending support line and validate it as resistance afterward.
A new report reveals that BitMEX was on the receiving end of a lawsuit in California’s Superior Court earlier this April.
In the ongoing case, the plaintiff alleges that the exchange was in violation of several financial laws and regulations. More specifically, BitMEX now finds itself defending itself against six separate allegations involving fraud, breach of contract, breach of covenant good faith and fair dealing, unjust enrichment, negligent misrepresentation, and promissory estoppel.
The amount of Blockchain is a digital ledger that’s used for storing data on several servers across the world in a decentralized, trustless... More currently locked into Decentralized Finance (DeFi) is a term that is being used to describe the world of financial services that are increasingly... More markets is now far below that which is held on Bitfinex. According to Defipulse.com, staked DeFi ETH has been on a downward slide since its peak in early February and is currently at 2.7 million ETH.
Meanwhile,, and other ERC-20 stablecoins and crypto tokens, are consuming more of the Ethereum network than ever before.
BeInCrypto’s technical analyst Valdrin shines the light on three altcoins that recently moved above their 200-day moving averages (MA).
Tierion (TNT) experienced a pump-and-dump from a paid cryptocurrency group called Palm Beach Confidential. The group has informed its subscribers that it was selling all its TNT due to “information that has come to our attention.”
Following a long-standing legal scuffle with the SEC, instant messaging platform Crypto signals are trading ideas from expert traders to buy or sell a particular cryptocurrency at a specific price or... More has finally decided that its maiden venture into the realm of crypto/blockchain is not worth pursuing anymore. The company officially confirmed earlier this week that it will no longer be working on the Telegram Open Network (TON).
Do you want to Be In Crypto?Join our Telegram Trading Group for FREE Trading Signals,a FREE Trading Course for Beginners and Advanced Tradersand a lot of fun! Images courtesy of Shutterstock, Trading View and Twitter.