Cryptocurrency News Today TheBitTimes.com

As the cryptocurrency market enters the month of August, the sector seems to be displaying a healing stance. With Bitcoin hitting the $70K mark again, the altcoins are also responding well to the change. Two leading cryptocurrency tokens, XRP (Ripple) and Binance Coin (BNB), are also adopting a compelling price path this August. Let’s explore how high or low these coins can trade this month. Also Read: Cardano’s Founder Shares Reason Why ADA Could Surpass Bitcoin Soon Ripple - xrp -and-binance-coin- BNB -prediction-august-2024"> Ripple (XRP) and Binance Coin ( BNB ) Prediction, August 2024 Source: Money & Markets Ripple - xrp -august-price-path"> Ripple XRP August Price Path Ripple (XRP) crypto is also trending lately, with Ripple busy forging global collaborations. With the US SEC case inching towards its end, the final verdict is dubbed the last straw that can either make or break the XRP token. For August 2024, Ripple (XRP) is currently trading at $0.6414, wi...

The sharp rebound in Bitcoin and select altcoins suggests that bulls remain in charge and continue to buy at lower levels. Traders hate uncertainty; hence, the settlement between Binance, Changpeng “CZ” Zhao and the United States Department of Justice is likely to be viewed as a positive for the cryptocurrency space. Analysts largely remained positive on the deal, but a few sounded cautious due to the Securities and Exchange Commission’s pending lawsuit against Binance. Bitcoin (BTC) and several major altcoins fell sharply on Nov. 21 following the Binance news but are finding support at lower levels. This suggests that traders stepped in after the initial knee-jerk reaction, and are buying at lower levels. After the initial bounce, the bulls are likely to head into stiff opposition from the bears. Daily cryptocurrency market performance. Source: Coin360 Buying on dips and selling on rallies results in a range-bound action as both the bulls and the bears battle it out for supremacy. Ge...

Strong inflation data has pulled Bitcoin and select altcoins below their immediate support levels, signaling a few days of corrective action. Bitcoin (BTC) is struggling to stay above $23,000 as the weekend approaches. The selling pressure increased after the personal consumption expenditures excluding food and energy rose 0.6% in January and 4.7% over the year, above market expectations of an increase of 0.5% and 4.4% respectively.  This could trigger fears that the United States Federal Reserve may have to continue its rate hikes to bring inflation under control. Expectations of a rate hike could strengthen the U.S. dollar index further, which is already near a seven-week high, and that may put pressure on the cryptocurrency markets in the near term. Daily cryptocurrency market performance. Source: Coin360 A drop in the cryptocurrency Markets may start a discussion that the rally in January may have been a bull trap. However, the price action in Bitcoin and several altcoins show tha...