Cryptocurrency Market Sheds $25 Billion as Bitcoin Drops 6%: Factors

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! The cryptocurrency market has recorded a decline of over $25 billion overnight, after an abrupt bitcoin sell-off was recorded on June 10. Analysts have attributed the recent correction to a variety of factors but the market seems to have dropped due to a simple reason: a drop in volume and demand. Low Volume Since last week, despite the stability in the cryptocurrency market and the optimistic short-term trend of bitcoin shown by its 1-day…

Netflix ‘Explained’ Falsely Claims Bitcoin is Mostly Spent on Illegal Services

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! Jameson Lopp, a former lead engineer at BitGo and a prominent Bitcoin developer, has criticized Netflix, the $159 billion entertainment giant, for one of its “Explained” series focused on Bitcoin and the cryptocurrency market. Wrong Arguments In collaboration with Vox, a US-based media company that runs a popular YouTube channel that delves into difficult subjects and produces informative videos, Netflix created a series called “Explained” in early 2018 to offer unique insights into a…

Bitcoin Drops to $7,200 While Ethereum, Ripple, and Bitcoin Cash Fall 7 Percent

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! Over the past 24 hours, the cryptocurrency market dropped more than $22 billion, falling from $343 billion to $321 billion in market valuation. Bitcoin fell by 5 percent, while other major cryptocurrencies recorded larger losses, dropping by more than 7 percent. What Triggered the Drop? On previous reports, CCN emphasized that while the cryptocurrency market has somewhat stabilized in terms of price movements, the volumes of most digital currencies remained relatively low. Bitcoin’s volume…

Cryptocurrency Will Become a $20 Trillion Market: Billionaire Investor

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Mike Novogratz, a billionaire investor and former Goldman Sachs and Fortress trader, told Erik Schatzker at the Bloomberg Invest Summit in New York that the cryptocurrency market is moving to the $20 trillion region. January Bubble Wasn’t Really a Bubble During the interview, which was focused on the economics of the cryptocurrency market, Novogratz was asked by Schatzker about the criticism from skeptics regarding the rapid movement of the valuation of the cryptocurrency market and the bubble-like…

Mysterious ‘Asian Whale’ Begins Funneling Bitcoins Back to Huobi

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. A mysterious “Asian whale” accumulated more than 94,000 bitcoins during the first half of 2018, and now they have begun to move them back to one of the cryptocurrency exchanges from which they originated, sparking fears of a new selloff. Blockchain data shows that bitcoin address 1KAt6STtisWMMVo5XGdos9P7DBNNsFfjx7 accumulated more than 93,947 BTC — at one point worth more than $700 million — during a two-month period between March 25 and May 27. Since then, the wallet owner…

Bitcoin, Ethereum, Ripple Drop 3% in $9 Billion Crypto Market Retreat

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The valuation of the cryptocurrency market has dropped by more than $9 billion over the past 24 hours, as major cryptocurrencies such as bitcoin, Ethereum, Ripple, Bitcoin Cash, and Cardano declined in the range of 2 to 5 percent. Minor Movement Yesterday, on June 7, CCN reported that the cryptocurrency market has stabilized to an extent, as both major cryptocurrencies and minor tokens remained in the same region for over a week, struggling to initiate movements on…

Cryptocurrency Market Gains Stability, Volume Still Low But More Bullish

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The cryptocurrency market has started to gain some momentum and stability over the past 48 hours, with three consecutive daily buy candles recorded by bitcoin. Tokens such as OmiseGo and DigixDAO have seen notable increase in volume and price, but it is still unclear whether the market can initiate a new rally. Volume Still Low On yesterday’s report, CCN noted that if BTC recovers to the $7,700 mark swiftly from $7,300, a short-term drop to the $6,000…

Rebound to $7,800 Could Confirm Short-Term Rally For Bitcoin

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The bitcoin price has increased from $7,300 to $7,600 over the past 24 hours, sparking optimism regarding the short-term growth of bitcoin. A break to $7,800 could confirm a short-term rally for bitcoin while a drop below the $7,500 mark could lead it back to the $7,300 region, making $6,000 a possibility, yet again. Low Volume The price trend of bitcoin and predictions of analysts are conditional as of current due to the low volume of BTC.…

Bitcoin Drops to $7,400, Further Drop to $6,900 Likely; Cryptocurrency Market Suffers

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. On yesterday’s report, CCN noted that the $7,700 mark is an important support level for bitcoin and if BTC fails to secure momentum above $7,700, a short-term decline to the $6,000 region is likely. Today, on June 5, bitcoin fell to $7,400, increasing the probability of a further drop to $6,900. End of Another Corrective Rally The failure to recover back to $7,700 speedily in the next 12 to 24 hours would signify the end of BTC’s…

Bitcoin Struggles to Secure Momentum at $7,700, Downside Break Expected

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The bitcoin price has failed to secure momentum above the $7,700 mark, struggling to break above the one-month descending trendline since May 3. If the upward movement of bitcoin fades and the dominant cryptocurrency is unable to bounce back quickly to the higher end of $7,700, a bleed out to the $6,000 region can be expected. Conditional Rally The corrective rally from $7,040 to $7,700 sparked significant optimism, especially amongst short-term bulls that have predicted the price…