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.

Monero Konferenco bill itself as an opportunity to meet and greet the “privacy advocates, cypherpunks, scientists, and philosophers” who make up the Monero community.

Which begs the question: why would a privacy-focused coin host a conference, where its mysterious developers and supporters attend in person? Doesn’t that defeat the purpose of pseudonymity?

• Theta has a bearish short-term outlook, with the cryptocurrency falling below its 200-period moving average on the four-hour time frame
• The four-hour and daily time frames both show large bearish patterns
• The medium-term outlook for Theta is neutral, with the cryptocurrency now testing back towards its 200-day moving average

Theta has turned bearish over the short-term, with the cryptocurrency falling below its 200-period moving average on the four-hour time frame.

• Tezos has a bullish short-term bias, with the XTZ / USD pair trading close to the best levels of the year so far
• The four-hour time frame shows that buyers have invalidated a large head and shoulders pattern
• The daily time frame shows that the large inverted head and shoulders pattern has now been triggered

Tezos has a bullish short-term outlook, with the XTZ / USD pair still trading close to the best levels of the year so far.

• Bitcoin has started to correct lower in short-term after buying interest above the $8,000 level began to wane
• The four-hour time frame is currently showing a bearish head and shoulders pattern
• Both the four-hour and daily time frame still remain technically bullish

Bitcoin has a bullish short-term trading outlook, with the BTC / USD pair still trading above its 200-period moving average despite the large technical correction lower.

Bitcoin has surged beyond $8,000 in a dramatic shift from last year’s bear market. It is now up over 100 percent YTD. Cynics are calling it manipulation, and Twitter’s technical analysts have been calling the ceiling for the best part of two months. But is there anything fundamental driving the price movement?

Cryptocurrency markets may be mixed, but Stellar (XLM) is one of the day’s biggest winners. Prices for the lumens token rose a whopping 18% at one point, reaching over $0.14 even as bitcoin slipped back below $8,000.