Price analysis 12/2: BTC, ETH, XRP, LTC, BCH, LINK, DOT, ADA, BNB, XLM

Bitcoin reclaimed the $19,000 level, but charts suggest BTC and altcoins may consolidate for a few days before starting the next trending move. Bitcoin price hit a new all-time high above $19,892 on Dec. 1. This is a significant event because it proves that the rally in 2017 was ahead of fundamentals but not a bubble. Generally, when a bubble bursts, it takes several years for the price to cross the high made during the bubble.  For example, the Japanese stock market bubble came after a high was made way…

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3 reasons Ethereum’s momentum is only accelerating as ETH nears $600

Alongside the high anticipation for Ethereum 2.0, the high time frame breakout and daily gas usage on Ethereum remain key positive factors. Eth2 momentum accelerates in correlation with price The Eth2 mainnet will launch when the number of Ether (ETH) staked in the Eth2 deposit contract address hits 524,288. Data from CryptoQuant reveals that the value staked in the Eth2 deposit contract address is showing a correlation with the ETH price. ETH price versus total value staked on eth2.0. Source: CryptoQuant Ki Young Ju, CEO of CryptoQuant, noted that the…

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ETH 2.0 confirmed for Dec. 1 launch just hours before deadline

ETH 2.0’s beacon chain genesis has been confirmed for Dec. 1, following the transfer of 524,288 Ether from 16,384 validators into the ETH 2.0 deposit contract since it went live on Nov. 4. Despite early concerns stemming from low staking participation, transfers to the deposit contract rapidly increased over the past day — with more than 200,000 ETH being sent to the contract in the past 14 hours. Ether sent to deposit contract over time: Dune Analytics ETH 2.0’s beacon chain genesis is now set to take place on the…

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BTC, ETH, XRP, LTC, DASH

Bitcoin (BTC) has made a stellar comeback from its March lows in 2020 and this performance is getting noticed by institutional investors. Recently Rick Rieder, BlackRock’s CIO of fixed income, said that Bitcoin could replace gold as it is “more functional than passing a bar of gold around.” Comments like these are a positive sign as they demonstrate that the narrative of Bitcoin being increasingly viewed as digital gold even among traditional investors has been gaining wider acceptance. A new report by crypto investment firm Pantera Capital attributes the recent…

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