As Bitcoin price crashed below $50,000, mainstream media highlighted that the selling across the market could have been triggered by reports that the Biden administration proposed increasing the capital gains tax to 39.6% from the current 20% for people earning more than $1 million a year. In other news, there was an apparent exit scam carried out by Thodex exchange owner Faruk Fatih Özer, which has affected about 391,000 users of the Turkish crypto exchange. Rumors are afloat that the owner may have fled the country with nearly $2 billion worth of crypto assets. U.S. equity markets also sold off …

JPMorgan strategist Nikolaos Panigirtzoglou believes that if Bitcoin (BTC) does not break above $60,000 within the next few days, the momentum signals could weaken “for several months, given their still-elevated level.” Another bearish voice was that of Guggenheim chief investment officer Scott Minerd who said in an interview with CNBC on April 20 that Bitcoin looked frothy and was at risk of a correction to $20,000 to $30,000. Minerd said that such a massive fall will be part of a normal market cycle and that will not alter his long-term target of $400,000 for Bitcoin. However, several analysts, including statistician …

Institutional investors have rallied around XRP this past week, with the assets under management, or XRP investment products, nearly doubling. According to CoinShares’ “Digital Asset Fund Flows Weekly” report, roughly $33 million flowed into XRP products this week, pushing the sector’s AUM up to $83 million. The report describes the week as the most bullish for institutional crypto products since early March, with $233 million injected in institutional funds. Altcoins saw renewed market action overall, with $65 million allocated to Ether (ETH) products, while Binance Coin (BNB) funds took in $3 million, Bitcoin Cash (BCH) saw $4 million, Polkadot’s DOT …

During strong uptrends, the best practice is to buy on significant dips as profits are produced when the price quickly rebounds from oversold conditions. This appears to be what happened on April 18 as traders jumped at the opportunity to buy Bitcoin and altcoins at lower levels. However, no market can keep going up in a straight line and periodic corrections and phases of consolidation are needed as they drive away the speculators who only jump in and use high leverage when they sense an opportunity to get rich quickly. The sharp rise in Dogecoin’s (DOGE) price and the huge …

When the United States Securities and Exchange Commission filed legal action against Ripple Labs and its top-two executives in December, alleging that its XRP coin was in fact a security and that the firm had raised over $1.38 billion through an unregistered securities offering in 2013, many wondered if XRP would even survive. Some exchanges delisted XRP; some asset managers sold their XRP tokens. XRP had lost its place as the top 3 currency by market capitalization and was even looking like it could drop from the top 10. But reports of Ripple’s demise were spectacularly exaggerated. As of mid-April, …

It’s been a spectacular week for the Cointelegraph Markets Pro VORTECS™ Score, which alerted subscribers to several of the top crypto asset price movers hours before the price began to climb. DOGE analysis Dogecoin (DOGE) has been the standout performer of the week, confounding analysts who look for fundamental strengths in an asset — the meme coin may not have much of a team, or a genuine use-case, but it has Elon Musk, Mark Cuban… and the support of their millions of fans. Dogecoin crossed the 80 VORTECS™ line on the morning of April 13, when the price curve was …

Dogecoin’s (DOGE) massive rally to $0.45 propelled it to a market capitalization of over $54 billion to make it the fifth most valuable cryptocurrency by market cap. This lofty market cap comes as a surprise to many since the project has no active developers and is only a meme coin, thus the current rally brings back memories of the excesses seen during the ICO boom in 2017. Rallies like the one seen in Dogecoin indicate that several traders have entered the fray and are looking to get rich overnight. The only positive sign is that the mania has not spread …

XRP holders couldn’t have asked for a better year as the cryptocurrency rallied almost 800% and flirted with a $2 level in the early hours of Wednesday. In addition to achieving its highest level since January 2018, this robust price increase signals that investors are not worried about the ongoing SEC “unregistered securities offering” dispute. However, just six hours after rallying to $1.96, XRP’s price crashed by more than 20%. During an interview, DCG Group CEO Barry Silbert said it would be risky for exchanges and companies in the United States to relist XRP ahead of receiving the United States …

Coinbase (COIN) listing on Nasdaq could eventually boost cryptocurrency adoption and attract droves of institutional investors. However, that is unlikely to happen immediately. In the first few days after the listing, volatility could be high as Wall Street tries to value Coinbase. This could also increase the volatility in cryptocurrencies. Sharp movements in the price of Bitcoin (BTC) could also result in liquidations of leveraged positions in the derivatives market. The massive $27 billion in Bitcoin futures open interest and $8 billion in Ether (ETH) futures open interest indicate that a spike in volatility could chop several traders. PlanB, the …

XRP price broke out to a new multiyear high on April 13 as a surge of trading volume in the early morning hours continued into mid-day. Data from Cointelegraph Markets and TradingView shows that XRP registered a low of $1.42 before staging a 34% rally to a high of $1.88. The surge in price comes on the same day as both Bitcoin (BTC) and Ether (ETH) established new all-time highs as mainstream excitement for the cryptocurrency sector is on the uptrend ahead Coinbase's direct listing on April 14. Momentum for XRP has been building over the past couple of weeks …

The mainstream adoption of blockchain technology continues to pick up steam as stories like Microstrategy using Bitcoin (BTC) to pay bonuses for its board of directors and Topps announcing plans to release nonfungible token collectible trading cards make headlines on a almost daily basis. As more companies and organizations explore what the integration of blockchain technology can do for them, tokens that offer enterprise solutions and provide simple ways for interested parties to explore and use distributed ledger technology have seen triple-digit gains in 2021. Stellar (XLM), XRP, and XinFin Network (XDC) are three enterprise-focused cryptocurrencies that have seen their …

Bloomberg Intelligence senior commodity strategist Mike McGlone equated the current consolidation in Bitcoin (BTC) price to that of a “caged bull, well-rested to escape.” When compared with the rallies a year after the previous two Bitcoin halvings in 2012 and 2016, the strategist called the current price action “tame.’ According to McGlone, Bitcoin is “still in price-discovery mode” and its plateau is still far away. While Bitcoin remains in focus, altcoins have continued to steal the show. Bitcoin’s market dominance, which stood closer to 70% on Jan. 4 has continued to slide even though its price has risen more than …