From a potential Bitcoin dip to big trading volume for Ethereum, here’s a look at some of the stories breaking in the world of crypto.
A prominent crypto trader known in the industry as DonAlt told his 97,000 followers on Twitter he’s looking for Bitcoin to drop well below major resistance around $8,100. He plans to wait until BTC heads down to $7,300 before opening any new long positions.
$BTC weekly update:
Just closed my ETHUSD and BTC long from 7300 & 235 respectively.
The way I margin trade a bull market is to buy support & take profit at resistance while staying in spot positions
I’ll look for 7300 to relong, if that doesn’t happen I’ll long a S/R flip. pic.twitter.com/cRRkq1z8bo
— DonAlt (@CryptoDonAlt) May 20, 2019
Meanwhile, Fundstrat analyst Tom Lee has created a list of reasons why he believes crypto winter is over. From rising over-the-counter volumes to a shift in his proprietary Bitcoin Misery Index, Lee highlights 13 factors he says point to a crypto market turnaround.
After a disturbing pullback to ~$6,200, #Bitcoin back $8,000 further cementing positive trend intact.
As we said a few weeks ago, Consensus 2019 @coindesk was to prove whether crypto winter is over…
— Thomas Lee (@fundstrat) May 19, 2019
Weekly trading volume for Ethereum (ETH) on the leading US crypto exchange Coinbase just hit its highest level in 17 months.
From May 13 to 19, 3,675,570 ETH was traded on the platform, worth about $904 million, reports CoinDesk.