The 200-day simple moving average is one of the most widely tracked indicators of the long-term trend.
Bitcoin Falls 8%, Drops Below $62K Before Rebound
Bitcoin and the broader cryptocurrency market fell nearly 10% on Saturday.
Bitcoin ETFs Flows Could Propel BTC Prices to $112K This Year: CryptoQuant
Spot bitcoin ETFs have amassed more than 192,000 bitcoin in holdings, as of Friday, since their launch nearly a month ago.
Explaining Bitcoin’s ‘Flash Crash’
The cryptocurrency’s volatility cuts both ways.
Explaining Bitcoin’s ‘Flash Crash’
The cryptocurrency’s volatility cuts both ways.
Explaining Bitcoin’s ‘Flash Crash’
The cryptocurrency’s volatility cuts both ways.
Bitcoin Breaks $40K for First Time in 18 Months Amid Broader Crypto Market Rise
The price of Bitcoin hit $40,000 on Sunday for the first time in 18 months, while Ethereum rose past $2,200.
Bitcoin analysts look to November as price action looks to mirror past cycles
Bitcoin’s months of sideways action have been uncannily similar to the previous two BTC market cycles, which saw a pivot in November leading up to a halving event.
Ether Slides as Ethereum Foundation Swaps $2.7M ETH on Uniswap
The Foundation periodically sells tokens to cover costs, creating a temporary sell-off event in markets.
Do Bitcoin halvings spark BTC price rallies, or is it US Treasurys?
An intriguing chart shows a close relationship between U.S. 10-year Treasurys and Bitcoin halving price rallies.
Bitcoin traders wipe Grayscale gains after SEC delays spot ETF decisions
The price of BTC rose sharply and fell almost as fast over the past three days amid two recent events impacting pending applications for spot Bitcoin ETFs.
Bitcoin price briefly dips below $26K, falling to two-month lows
The price of Bitcoin fell around 8% in just 10 minutes on Aug. 17, down to levels not seen since June 20.
XRP’s Market Cap Momentarily Zoomed to Trillions of Dollars on Gemini
Low liquidity after the token’s relisting likely caused a temporary pricing glitch on the exchange.
Bitcoin price briefly hits $29K despite regulatory crackdowns
Despite ongoing crypto crackdowns, the price of BTC briefly tipped over $29,132.82 on March 30, clocking a new high for 2023.
Bitcoin slips under $20K amid Biden budget, Silvergate collapse
The price of BTC briefly slipped under $20,000 on March 10, although at time of writing was hovering just above that level.
Bitcoin price slides 5% in 60 minutes amid Silvergate uncertainty
The price of BTC has fallen a steep 5% in 60 minutes in the early hours of Mar. 3, wiping $22 billion from Bitcoin’s market cap.
C-C-C-Combo breaker: Bitcoin ends ‘ridiculous’ 14-day winning streak
Bitcoin was on the road to breaking a nearly 10-year-old record but the price dip over the past day put a stop to the multi-day win streak.
It’ll be OK: DCG crisis likely won’t ‘include a lot of selling’ — Novogratz
Digital Currency Group’s ongoing financial distress isn’t likely to cause much further strain on crypto prices, said Novogratz.
Cosmos In A Downtrend Since Last 2 Months – Investors Shying Away From ATOM?
Cosmos (ATOM) started this year with a bang by attaining its all-time high (ATH) on January 17 when it traded for $44.45.
But just like other cryptocurrencies, it failed to sustain that level and was relentlessly pummeled by the volatile crypto market.
- Cosmos has been down by 16.8% over the last month
- ATOM is forecasted to fall below $7 a month from now
- Cosmos remains in extended bearish momentum nine months after attaining its ATH
Nine months later, Cosmos lost more than 70% of its ATH and is currently trading at $11.86 according to tracking from Coingecko at the time of this writing.
In just two weeks, the asset went down by 10.3%. On a month to date basis, the 23rd largest cryptocurrency in terms of market capitalization declined by almost 17%.
It failed to break free from its downward trend that has been going on since the latter part of September.
Technical Indicators Not Looking Rosy For Cosmos
Hopes for a bullish run for the asset this time might be met with disappointment as its analysis points are leaning towards extension of the current bearish momentum.
Source: TradingView
While the Relative Strength Index (RSI) of Cosmos stayed above 40, it is still below the 50 neutral score. While not strongly, it will still pull the digital coin in a downward trend.
In September, ATOM’s On-Balance Volume (OBV) swayed between two levels of resistance and support. In this case, a surge cannot be ruled out but the same can also be said about a sharp price dump.
The crypto’s current price action is suggesting that over the next few days sellers will dominate. As a result forecasts see Cosmos declining even more in the days to come.
According to prediction from Coincodex, the next five days will see ATOM go down all the way to $10.72.
The situation doesn’t get better from there as the 30-day prediction hints a steep fall that will pull Cosmos to $6.72.
ATOMic Interest Already Fading?
Cosmos had a good start for October in terms of development activity, tallying strong numbers from early to mid part of the month.
But developers seem to have stalled as activity metrics started to dwindle towards the end of the month. Moreover, social dominance for the protocol remained low, peaking at 0.72%.
Even when Cosmos rallied in September, from $11.7 to $16.7, it failed to surpass the current almost insignificant value of its social dominance.
By all indications, it seems interest for the crypto asset is starting to fade. This is seen to impact trading price severely, as ATOM will probably soon hit $10.53 or worse, $9.
ATOM total market cap at $3.3 billion on the daily chart | Featured image from Jeremy Thomas/Unsplash, Chart: TradingView.com
Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.
USD stablecoin premiums surge in Argentina following economy minister’s resignation
Argentina has been in a long-standing battle against rising inflation and a continued decline of the peso against the U.S. dollar.