Day: September 3, 2019

Bitcoin Price Technical Analysis (September 3): Eyeing $11,000

boss

Bitcoin(BTC)trade is currently is trading at $10,423. Looking at the chart we see that the price has recently broken the resistance of $10,323. Long position can be taken, keeping $10,323 as support with a target price at $10,700. Swing trading can be done between the channels formed by the resistance and support. Dow Theory According to Dow Theory, the Bitcoin price is in the excess phase, which is an extension to the public participation phase. Correction can usually be seen after the excess phase and then again, the price starts…

Norwegian Bank Invests in Crypto Exchange Founded By Airline Magnate

boss

A Norwegian savings bank dating back to the mid-1800s has just invested in a cryptocurrency exchange set up by local business magnate Bjørn Kjos. In a press release posted on the Oslo Stock Exchange, Sparebanken Øst said it had taken a 16.3 percent stake in Norwegian Block Exchange (NBX) for 15 million Norwegian krone (around $1.638 million). NBX was revealed to be in development in April of last year, after being founded by Kjos and his family. Bjorn’s son Lars Ola Kjos – apparently a fan of bitcoin – is leading the exchange’s operations. The platform launched for…

VanEck, SolidX to Offer Limited Bitcoin ETF for Institutions Via Exemption

boss

Following another delay on Bitcoin exchange-traded funds (ETFs), asset managers VanEck and SolidX plan to offer a limited version of their Bitcoin ETF to institutional investors. VanEck Securities and SolidX Management want to start selling shares in a limited version of a Bitcoin ETF, using a rule that exempts the shares from securities registration, under which shares can be sold only to certain institutional investors, The Wall Street Journal reported on Sept. 3.  VanEck, SolidX Bitcoin ETF launching Sept. 5 According to the report, the investment management firms are planning…

Samsung Files Patent for ‘Programmable Blockchain Solid State Drive’

boss

South Korean consumer electronics giant Samsung has filed a patent for a blockchain-enabled Solid State Drive (SSD). “Programmable blockchain solid state drive and switch” Local industry news outlet Decenter reported on Sept. 3 that Samsung applied for the “programmable blockchain solid state drive and switch” patent on Jan. 15 and that it has been published on Feb. 2.  Details of the newly designed system are sparse, but it will reportedly be used to improve the speed and lifespan of blockchain-aware storage devices. To achieve this objective, Samsung intends to use…

Bitcoin’s Total Share of Crypto Market Now Highest Since March 2017

boss

View Bitcoin’s price recovery from the Aug. 29 low of $9,320 is backed by an uptick in the dominance rate to 30-month highs. Weak trading volumes, however, indicate the recovery could be short-lived and a fall back to $9,750 could be in the offing in the next day or two. Weekly chart indicators continue to call a bearish move. A high-volume UTC close above the bearish lower high of $10,956 (Aug. 20 high) is needed to revive the short-term bullish outlook. A weekly close (Sunday, UTC) above $12,000 is needed…

Binance Takes Over Seychelles-Based Crypto Exchange JEX

boss

Binance enters into the cryptocurrency derivatives market with the acquisition of an exchange based in Seychelles, JEX, which will rebrand to Binance JEX offering options, futures, and perpetual contracts. The crypto industry is growing constantly with new deals and investments dominating the scene over the years. Binance, the world’s largest exchange by trading volume, has not been left behind. The crypto exchange company is now breaking into the futures market after it announced the acquisition of Seychelles-based crypto asset trading platform JEX. The press release states that JEX will now…

Venture Capitalists Slowly Backing Away from the Crypto and Blockchain Sector

boss

2019 has not been a bad year for crypto as some assets, including Bitcoin, have seen more than 100% in ROI. However, funding is significantly reduced and venture capitalists seem to be backing off. Why is this happening? The bear market which started in 2018 was a very disappointing period in crypto. This was made worse by the fact that Bitcoin hit its all-time high of $20,000 just a few months before the market crumbled. The period also saw the highest points hit by the entire market as market cap…

Satoshi Should Win Nobel Peace Prize for Bitcoin

boss

American investor and co-founder of Morgan Creek Digital Assets Anthony Pompliano has argued that Satoshi Nakamoto should be awarded the Nobel Peace Prize for inventing Bitcoin. In a tweet posted on Sept. 3, Pompliano wrote: “Satoshi should win the Nobel Peace Prize. We finally have a currency that can assume global reserve status without anyone having to engage in violence.” And the prize goes to… X Pompliano’s proposal faces the obvious hurdle of Nakamoto’s now-legendary disappearance in late 2010 — which has spurred almost as much speculation and fervent interest…

Bitcoin Price Now Eyes $11K as Historical Data Metric Flips Bullish

boss

Bitcoin (BTC) price was targeting $10,500 on Sept. 3 as the latest renaissance for the largest cryptocurrency saw it deliver surprise gains.  Market visualization. Source: Coin360 Bitcoin price reverses losses to challenge $10.5K Data from Coin360 tracked BTC/USD as it rose 6.2% in 24 hours beginning Monday night. After trailing around $9,700, the pair suddenly broke higher, smashing resistance at $10,000 to reach local highs of $10,480 soon afterwards. At press time, those higher levels appeared to be holding, with Bitcoin circling $10,400 for the past 12 hours.  Bitcoin 7-day…

Bitcoin Price Surges Above $10,000, BTC Market Dominance is Now 70%

boss

In a relief rally for the investors, Bitcoin price jumped 6% to move above $10,000 levels. With today’s move Bitcoin alone contributes to 70% of the overall cryptocurrency market cap. The Bitcoin price is finally back above its crucial support of $10,000 levels giving its investors a sigh-of-relief. Last week, Bitcoin crashed below $9500 making investors jittery about its future. After staying below the $10K mark for a few days, Bitcoin is back in momentum with a strong recovery. At press time, Bitcoin is trading at a price $10,353 with…