Has The Crypto Market Bottomed After Bitcoin’s 50% Collapse?

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[NEWS BLOG]: Has The Crypto Market Bottomed After Bitcoin’s 50% Collapse?

Cryptocurrency analyst Thies recently drew attention to a clear sign that the bottom in the cryptocurrency market is finally here. He noted that according to TradingView’s Total2 trading pair (all digital assets sans Bitcoin), “last week alone showed the highest buying volume for the altcoin markets ever recorded.”

While some say that this data masks reality in part, there is no doubt there has been a lot of buying pressure in the cryptocurrency markets as of the past week, hence the absolute explosion in the price of Ethereum Classic, Bitcoin Satoshi’s Vision, and many, many others.

Bitcoin Preparing to Burst Higher

So, is the cryptocurrency market ready to head higher after seemingly finding a bottom? Well, it already has, with the price of digital assets surging by dozens of percent since mid-December.

And fortunately for bulls, the indicators suggest more upside is on its way.

The Lucid SAR indicator, which “signals a stop and an entry in the opposite direction,” just printed a bullish signal; the indicator printed its first buy signal since March 2019, which was prior to a 330% rally that brought BTC above $10,000 and crypto assets dozens of percent higher.

And, Glassnode data shows that Bitcoin’s network hash rate has just reached a 1-year high of 125 exahashes.


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OTHER RELATED NEWS

Largest Bitcoin ATM Network Coinme Raises New Funding from Ripple’s Xpring

Coinme, which provides kiosks and ATMs for digital currencies, raised $1.5 million in a Series A-1 financing round that included Ripple’s subsidiary Xpring and Blockchain Finance Fund, the company said.

Proceeds from the funding will be used for additional licensing to expand its U.S. and international coverage.

Co-founder and CEO Neil Bergquist told CoinDesk that Coinme is licensed to operate bitcoin ATMs in 29 states and will apply for further state licenses in the near future. As for international markets, Coinme has set its eyes on Europe, Central and South America given the high popularity of cryptocurrencies in these countries, Bergquist - read more.

Crypto and Blockchain Jobs Have Increased By 26% Since 2018: Research

Those seeking employment in the blockchain and cryptocurrency industry have reason to be positive, says employment search company Indeed.

The number of bitcoin, blockchain and crypto-related employment ads in shares per million on the popular job listing site rose by 26 percent from 2018–2019, following a four-year trend of 1,457 percent growth in the sector, according to a “Seen by Indeed” study released Thursday.

On the other hand, sector-specific job searches dropped 53 percent over the same period, following a longer downward trend, the firm found. Enthusiasm among job hunters peaked during the height of the crypto bull market in late 2017, - read more.

Ethereum Builder ConsenSys Shutters India and Philippines Operations.

ConsenSys, the ethereum blockchain development company with over 30 hubs around the globe, has shut down key operations in India and the Philippines, CoinDesk has learned.

ConsenSys chief Joe Lubin informed the teams via email that they would be closed down, people familiar with the situation said.

A member of the seven-person team in India confirmed the closures of the local office and the Philippines operation but referred further questions to the main office in Brooklyn, N.Y.

"A total of 11 roles were eliminated in India and the Philippines due to a realignment of the sales and services team in - read more.

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