Bitcoin’s 2019 surge has led to some pundits scaremongering again, telling the crypto community that it is entering another bull trap. Bitcoin demand does, however, have some fundamental drivers fueling it. Among those are American and Chinese trade tension refugees and institutional investors.

Today’s crypto markets demonstrate that Consensus, the biggest event in the industry, is well and truly over. Following CoinDesk’s flagship jamboree, crypto is a sea of red today, reflecting a more cautious investor sentiment compared to last week’s strong euphoria that drove an already bullish market up $30bn.

• Bitcoin Gold has a bullish short-term bias, with the BTG / USD pair trading above the 200-period moving average
• The BTG / USD pair is bullish over the medium-term and continues to trade well above its 200-day moving average
• Technical indicators are becoming overstretched, showing room to trade lower

Bitcoin Gold is bullish in the short-term, after creating bullish higher highs on the four-hour time frame.

• EOS has a bullish short-term outlook, with the cryptocurrency testing back towards the best levels of the year so far.
• The four-hour time frame shows that buyers have invalidated a head and shoulders pattern
• The daily time still shows bullish MACD divergence is present from June 2018

EOS has a bullish short-term outlook, with the cryptocurrency testing back towards the best trading levels of the year so far.

• Verge has a neutral short-term bias against Bitcoin, following a technical correction back towards its 200-period moving average on the four-hour time frame
• The XVG / BTC pair is technically bearish over the medium-term
• The daily time frame continues to show bullish MACD price divergence

Verge has a neutral short-term trading outlook, with the cryptocurrency testing towards its 200-period moving average on the four-hour time frame.

Video games are all about speed. Latency kills – in the case of a game like Overwatch, quite literally. The gaming industry isn’t about to adopt a technology that leaves D.Va bleeding in the dust because some poor schmuck’s server is in Cleveland, while the despondent player’s in Tallinn. Game over – not just for Hana Song, but also for Blizzard’s chances of securing further revenue from that customer.

A bitcoin flash crash put a (temporary) end to the recent bull run, with bitcoin losing ten percent only days after doubling in price for the year. The result was another market panic,  with $21 billion shredded from the total market capitalization in 24 hours.

And just two days later, we are almost right back where we started – bitcoin is hovering around the $8,000 mark at the time of writing.

Bitcoin corrected its price and lost 10% of its value overnight, but that might not be a sign of more heartbreak to come; the volatility we’ve seen during the month of May be a positive indicator.

This correction could have been worse, and as Dovey Wan pointed out on Twitter, this had little to do with BTC fundamentals, and everything to do with a large trader seemingly gaming the market.

Blockchain technology is continuing to make inroads into the business world, with established tech giants joining startups in seeking new applications for the distributed ledger. However, there several other ingredients are needed before this technological cocktail really starts to fizz. 

Let’s not get ahead of ourselves with “alt season” just yet.