Crypto Today: Calm between the storm? Schiff says look out below, Dash, Monero stand out


Here is what you need to know on Friday, December 6

Digital coins trying to find some stability

Cryptocurrencies are trying to find their feet after several tumultuous days. It seems that Bitcoin is in recovery mode ahead of the weekend.

Cryptocurrency markets

- Bitcoin in mid-range, BTC/USD is trading just below $7,400 after experiencing rises and falls of hundreds of dollars within days. Peter Schiff, a life-long crypto skeptic, said that pumpers and dumper have lost the plot, and added: "Look out below".

- Ethereum has bumped into $148, a level that seems to serve as a magnet for Vitalik Buterin's brainchild. 

- Ripple is hovering around $0.22, and seems to have ended its bearish downfall. However, bulls are also stuck.

- Dash is gaining ground as it fights to keep the price above $50. So far, Dash is winning the battle.

- Monero is another winner, with a gain of 1.7% at the time of writing. See XMR/USD rises from the ashes.

Bitcoin Confluence: Sitting on strong support and eying higher ground

A dense cluster of technical levels awaits BTC/USD at around $7,536, and this may serve as a springboard for rising to higher levels.

fxsoriginal

 

Chart of the Day: Why BNB/USD triangle breakout stalled under $16?

Binance Coin recovery fizzles out at $16 amid the tightening bearish grip. The RSI movement towards 70 coupled with the right bullish volume could push BNB above $20.

BNB/USD four-hour chart: 

 

Industry News: HODLers are not letting go

- 64% of Bitcoin has not left wallets in at least one year, showing how HODLers have been hoarding books. The analysts by Rhythm The accumulation comes ahead of BTC's halving in 2020.

- Nornickel, a Russian smelting company, has been testing a platform for digital metal tokens together with Trafigura Group and Traxys SA. The use of blockchain technology is part of the firm's modernization effort.

- Kraken, a prominent cryptocurrency exchange, adds support for the Swiss franc as it continues its expansion.

- BitFlyer, based in Tokyo, has launched its "Instant Buy" feature that lets users buy cryptocurrencies by bank transfers or by using credit cards. The firm extends its expansion.

Quote of the Day: Pomp pumps up Bitcoin

Anthony Pompilano says too many people are trying to outsmart Bitcoin and adds in his tweet

Bitcoin’s not dying.

In fact it has only become stronger over the last 11 years.

This won’t change any time soon

More Bitcoin Cash price analysis: BCH/USD market momentum turns from bearish to bullish

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Bitcoin regains safe-haven status, moves in sync with gold amid coronavirus scare

Bitcoin (BTC) resumed the upside after a short-lived consolidation period. The first digital currency has gained over 3% of its value in recent 24 hours to trade at $8,620 at the time of writing.

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Bitcoin Gold jumped by 30% amid the news of 51% attack

Bitcoin Gold (BTG), now the 35th digital asset with the market value of $200 million, has gained over 14% in the recent 24 hours to trade at $11.82 at the time of writing. 

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Ethereum Classic defies gravity with 17% growth

Ethereum Classic, the 11th largest digital asset with the current market capitalization of $1.18 billion, has gained over 14% in the recent 24 hours to trade at $10.17, off the intraday high hit at $10.32. ETC/USD is one of the best-performing assets.

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Ripple's report reveals a real use case for XRP and other mathor cryptocurrencies

Ripple's XRP, the third-largest digital asset with the current market value of $10 billion, is changing hands at $0.2284, down from the intraday high of $0.2334. XRP/USD has gained over 3.5% in recent 24 hours in line with the global sentiments improvement.

More Ripple News

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Bitcoin Weekly Forecast: Bitcoin bulls and bear fight gets a tougher edge

The cryptocurrency market started the downside correction after a strong rally initiated by risk reversal play at the beginning of January and reinforced by various altcoin pumps...

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