Bitcoin’s (BTC) market capitalization is nearing the $1 trillion mark and several altcoins have also been rallying hard in the past few days. This has driven the Crypto Fear and Greed Index into the extreme greed territory where the range fluctuates between 79 and 100. Generally, tops are made when the index hits around 95, which shows there is some more room to run. PlanB, the creator of the Bitcoin stock-to-flow model, believes that BTC is on target to reach $100,000 by Christmas this year. Eventually, he believes that BTC price will be much higher than $100,000 before the end …

The wider cryptocurrency market is showing signs of strength on Sept. 6 as Bitcoin (BTC) bulls battle for control at the $51,500 level. Altcoins have benefited from Bitcoin’s strong showing, with many seeing gains in excess of 20%, and the Altseason Indicator from Cointelegraph Markets Pro continues to signal that market conditions are tilted toward further gains for altcoins. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were Oasis Network's ROSE, Parsiq's PRQ and Travala's AVA. Oasis Network partners with API3 Oasis Network is a blockchain protocol with privacy-enhancing features that …

Chainlink emerged as one of the best cryptocurrency performers on Sept. 6 as the price of its LINK token jumped 8.25% against the U.S. dollar. The LINK/USD exchange rate reached $36.35 for the first time since May 20, months after bottoming out near $13.45 — thus recovering by more than 170% altogether. At the same time, its recent bout of buying saw prices bringing in about 36% month-to-date returns. Ecosystem growth Optimism Ethereum announced on Sept. 1 that it had integrated Chainlink's market-leading decentralized oracle solutions to its Ethereum layer-two services. As a result, LINK — which serves as a …

Cointelegraph's Markets Pro data intelligence service, which offers institutional-grade research tools for crypto traders, has shared the latest weekly VORTECS™ Report with its community of subscribers. The full report, available only to subscribers, presents the past week's biggest-gaining tokens as identified by the platform's artificial intelligence tools and offers interpretations of the data that it provides to traders. Here are some of the highlights of the latest issue: Three out of four altcoins with triple-digit weekly gains flash high VORTECS™ Scores before their prices peak. Markets Pro subscribers take profit from FTM's and OGN's rallies thanks to the platform's data …

Bitcoin (BTC) began testing new support levels on Monday after an overnight rally paused at $52,000. Analyst: Bitcoin needs to keep $47,000 to avoid “breakdown” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD challenging $51,000 after breaking through the level for the first time in nearly four months. In so doing, the largest cryptocurrency was “likely” testing the staying power of support, which had acted as resistance throughout the summer. “Strong weekly close for BTC,” trader and analyst Rekt Capital commented on the one-week chart. “Any dips into orange would likely constitute a retest attempt of previous resistance into …

FTX crypto exchange’s native utility token, FTT, reached a new record high on Monday a week after it agreed to acquire LedgerX, a United States-based crypto derivative platform, for an undisclosed sum. On Monday, the FTT/USD exchange rate surged 16.37% to $73.99 in a market-wide rally that saw other top coins post similar but dwarfed price rallies. Additionally, the pair’s intraday climb coincided with gains among top exchange tokens, with Binance Coin (BNB) rising 2.3% and Uniswap’s UNI recording 3.5% profits on a 24-hour adjusted timeframe. LedgerX acquisition The news of FTX’s Ledger acquisition served as the primary bullish backdrop …

The United States Securities and Exchange Commission published a new alert about investment scams related to digital assets and cryptocurrency. The announcement, shared by the SEC’s Office of Investor Education and Advocacy and the Division of Enforcement’s Retail Strategy Task Force, highlighted the “devastating losses” faced by retail investors due to scams. The SEC attributed the “rising popularity” of initial coin offerings, including cryptocurrencies, as the main reason for growing scams and exploits. The SEC also said that the price surge of certain digital assets has been a key factor for scammers to lure unsuspecting investors: “Investors may be less …

While originally spruiked as a futuristic city inspired by the Marvel movie Black Panther that would emerge as a “beacon of innovation and human development” and bolster the West African and Senegalese economies by Akon in 2018, there are few signs of the city’s development beyond a ceremonial stone that was laid in a field near Mbodiene 12 months ago. According to a report from Agence France-Press, the project has not progressed beyond the stone’s erection, with a small placard promoting Akon City having since fallen from its perch on top of the block. Akon had predicted that the city …

Bitcoin (BTC) is struggling to sustain above $50,500, but that has not stopped the altcoins from following in Ether's (ETH) footsteps after the top-ranked altcoin hit $4,000 on Sept. 3. This has pushed Ether’s market dominance above 20%, while Bitcoin’s dominance has shrunk to 41.1%. However, Bitcoin’s hesitation in the past few days has not altered the outlook of Bloomberg senior commodity strategist Mike McGlone, who has retained a $100,000 target on Bitcoin and $5,000 on Ether. Apart from the top two cryptocurrencies, the nonfungible token (NFT) sector had been attracting the attention of investors since July. Cointelegraph contributor Jordan …

Buying an asset in a downtrend can be a risky maneuver because most investors struggle to spot reversals and as the trend deepens traders take on deep losses. In instances like these, being able to spot descending channel patterns can help traders avoid buying in a bearish trend. A “descending channel,” also known as a “bearish price channel” is formed by drawing two downward trendlines, parallel to each other, which confine the price action of the asset. Descending channel basics In a downtrend, the price action forms a series of lower highs and lower lows. A descending channel is drawn …

An important part of preserving investing profits is knowing when an asset or sector is showing signs of exhaustion and when a sector rotation is underway. This is especially important in the rapidly moving cryptocurrency markets, which can change direction in a heartbeat and turn crypto millionaires into depressed bag holders. Most investors know that the nonfungible token (NFT) sector has been on fire since July, and as CryptoPunks, Mutant Ape Yacht Club and pet EtherRock NFTs fetched six- and seven-figure sums, while top NFT marketplace OpenSea surpassed $4 billion in total sales. While the frenzy has been exciting, many …

Bitcoin (BTC) finally broke above the $50,500 resistance and Ether (ETH) has risen above the $4,000 mark. This suggests that there is growing interest in cryptocurrencies and several legacy finance companies are initiating steps to tap into this increasing demand. One of the world’s largest independent asset managers, Franklin Templeton, is accepting applications for fresh mid-senior level positions in crypto trading and research, according to Linkedin job listings. Meanwhile, in Japan, financial conglomerate SBI Holdings is planning to set up one of the first crypto funds in the country by the end of November. Tomoya Asakura, the director and senior …