By Jing Zhu | Crescent City Capital Market Analyst Intern Chinese Yuan Falls[1] Last Monday, China let the value of the yuan drop sending the currency above 7 CNH per USD. This decade-low marked a significant point in the US-China Trade War, resulting in a tumultuous stock market and a spike in US government bonds. Investors fear […]

By Jing Zhu| Crescent City Capital Market Analyst Intern Bitcoin Needs Weekly Close Above $12,000[1] Compared to last week, Bitcoin price has definitely made a short-term recovery. It is currently trading at $11,615. However, it needs to close above $12,000 this week if traders want to revive the bullish momentum. The repeated failure to do so […]

By Jing Zhu (with aid from Hunter Metcalf)| Crescent City Capital Market Analyst Intern Price Spread of ETH BTC  Price spread ratios between Ether-Bitcoin (ETH BTC) and Litecoin-Bitcoin (LTC BTC) have been trading at historical lows throughout July. Especially for ETH BTC, the spreads moved to a new all-time low of 0.0197. This price is well below […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Wednesday, Bitcoin price dropped to $9,049 before coming back up to $9,850 today. The price is currently struggling to break resistance at $10,000. On the 4-hour chart, candles with long wicks indicate that Bitcoin’s recovery is slowing down. If price breaks below $9580 (the low of the […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Just yesterday morning, Bitcoin price was around $13,200. Earlier this morning, it has dropped to a low of $11,164. Despite the price drop, the outlook remains bullish because the current price is holding up well above support at $9,615 (the higher low experienced on July 2). Bitcoin […]

By Jing Zhu | Crescent City Capital Market Analyst Intern On July 2, Bitcoin price fell to $9,700. However, it has quickly recovered to $11,800 in the span of 48 hours. The strong momentum of the U.S. stock market, the returning appetite for high-risk trades, the development of Libra, and the performance of gold are just a […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Bitcoin Price Increases Weekly Gain to 30% Early on Wednesday, Bitcoin price topped $12,900. It broke resistance around the $12,500 mark, but is currently hovering around that value. This momentum is impressive, especially considering that just last Friday, traders were waiting for Bitcoin to break $10,000. The […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Facebook Introduces Libra On June 18th, Facebook came out with the Libra coin. This new cryptocurrency uses cryptography to verify transactions, which will launch next year. Users of Facebook’s Messenger App will be able to access Libra coins through a digital wallet. Because Facebook has many users […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Technical Indicators Suggest Dip is Over According to Bloomberg, the technical analysis from Fundstrat Global Advisors indicates that most cryptocurrencies are prepared for fresh gains. Relative strength index momentum is now turning upwards from neutral, which shows that there are strong trending markets. Rob Sluymer, a technical […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Currently, Bitcoin is experiencing another bull run. In May of 2019, prices surged well above $8000. This phenomenon has not been seen since November of 2017. For example, on November 25th, 2017, Bitcoin dominated the market across all cryptocurrencies, achieving a 52% overall market cap. Now in […]

By Jing Zhu | Crescent City Capital Market Analyst Intern According to the GTI Vera Convergence-Divergence indicator, which displays positive and negative trends, the halt in Bitcoin’s rally may include further downsides. Jake Stolarski, a senior trader at Greenwich, asserts that the market is currently trying to stabilize. As a result, key technical levels are creating high […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Bitcoin Cash (BCH) May Hit 500 USD Bitcoin Cash has recently suffered a blow with a 51% attack on May 15th. On the 15th, the price ranged from 350 to 374 USD. However, the price now displays a forceful upward trend, soaring past 9% in the past […]

By Jing Zhu | Crescent City Capital Market Analyst Intern Bitcoin’s momentum could slow down in the near future. From April 22 to May 22, Bitcoin price has increased by about $2700. Given that this 30-day interval has been marked by steady overall increase, some traders anticipate that there may be healthy pullbacks based on Bitcoin’s historical […]