Day: September 10, 2019

Bitcoin to Make a Big Move in ‘a Week or Two’ – CCN.com

boss

Is bitcoin destined for a severe drop to $7,000 or will it defy the bearish calls? On investment executive thinks we’ll find out in a few weeks. | Source: Shutterstock Bitcoin’s inability to make a new 2019 over the last couple of months has made many traders uneasy. Some are even calling for a severe drop from $10,000 to $7,000 as the number one cryptocurrency paints a familiar bearish structure. Classical charting expert Peter Brandt recently took to Twitter to share his latest analysis on the digital asset. In the…

Rapper Akon Says Bitcoin Better Than ‘Military-Backed’ US Dollar

boss

Grammy award-winning music artist Akon has rebuffed Bitcoin (BTC) naysayers who claim that the asset lacks intrinsic value. In a radio interview published on Sept. 10, Akon lambasted the perception that fiat currencies are any less vulnerable to this same critique, arguing that: “Nothing backs the dollar. The U.S. doesn’t have natural resources that back the dollar. What they do have is the military.” People give cryptocurrency value, not governments Akon — who has twelve Billboard Top Ten Hits to his name, including the popular single “Smack That” — spoke…

Bitcoin Dominance ‘Reverting to Mean’ of 90%, Says Blockstream CEO

boss

Bitcoin (BTC) is reverting to its historical 90%+ market dominance at altcoins’ expense, one of the industry’s best-known figures has declared. Back: Bitcoin will hit 90% dominance again In a Twitter debate with Primitive Fund co-founder Dovey Wan on Sept. 9, Blockstream CEO Adam Back said altcoins’ previous supremacy was a temporary feature of the cryptocurrency space.  Wan had queried whether Bitcoin would continue making market cap gains, and if these would become a permanent new status quo.  As Cointelegraph reported, Bitcoin’s share of the overall crypto market cap now…

Progress is Being Made on Bitcoin ETF But There’s Still Some Work

boss

While SEC’s Clayton acknowledged that Bitcoin businesses are coming closer to satisfying his concerns, he stated that there is “work left to be done” on Bitcoin ETF. In his recent interview, SEC Chairman Jay Clayton said something interesting. He claimed that the market has taken some action regarding the talks with the U.S. Securities and Exchange Commission’s (SEC) who is pretty worried about approving a Bitcoin exchange-traded fund (ETF). However, he added, there is still “work left to be done”. He continued on saying: “Those were not trivial questions. How…

Experts Call for Crypto Legislation in India to Enhance Economic Growth

boss

Crypto experts are willing to bet their buck on the potential for crypto regulations in India that are poised to create economic opportunities for India whose economy is in a recession with increasing unemployment rates and a GDP growth rate that is decelerating. Think tanks in the country are converging on the idea for enhanced crypto regulations in the country in a bid to improve the flailing economy. Much to the disappointment of many crypto enthusiasts in the country, a bill was introduced at the start of 2018 that imposed…

VanEck’s New Bitcoin Trust Assets Total Just $41K in First Week

boss

Investment management firm VanEck has issued just 4 bitcoins (BTC) via its new trust focused on institutional investors.  VanEck: one week, one Bitcoin basket Data from the company, spotted by economist and cryptocurrency commentator Alex Krüger on Sept. 10, showed that since its launch at the start of the month, VanEck SolidX Bitcoin Trust 144A Shares total net assets are only $41,400. The product, which caused a buzz after VanEck described it as being akin to an exchange-traded fund (ETF), caters strictly to so-called qualified institutional buyers, or QIBs. “VanEck…

Bitcoin Traders Fear Sub-$10,000 Drop if This Key Level Breaks – CCN.com

boss

A big pullback awaits if bitcoin slips below a key psychological level, according to traders. | Source: Shutterstock The bitcoin price has dropped from $10,968 to $10,285 in the past three days. If BTC fails to remain above $10,100, traders anticipate a bigger pullback below the $10,000 level. Since early August, the bitcoin price has demonstrated volatility within a large range between $9,400 to $10,900, unable to break above or below key resistance or support levels. The bitcoin price (BTC) is down slightly on the day against the USD (source:…

Bitcoin Price (BTC) Is Slowly Turning Sell On Rallies

boss

Bitcoin price is jumped higher recently, but it struggled to continue above $10,500 against the US Dollar. The price is currently trading in a bearish zone and it could accelerate losses below $10,200 in the near term. There is a connecting bearish trend line forming with resistance near $10,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is slowly turning sell on rallies near the $10,450 and $10,500 levels. Bitcoin price is currently trading in a range below $10,500 against the US Dollar. BTC…

Ethereum Price (ETH) Looks Set To Continue Higher

boss

ETH price is showing positive signs above the $180 pivot level against the US Dollar. The price is likely to continue higher above the $184 and $185 resistance levels in the near term. There is a key bullish trend line forming with support at $178 on the hourly chart of ETH/USD (data feed via Kraken). The price could correct a few points, but it remains supported near $178 and $175 in the near term. Ethereum price is gaining momentum above the $175 level versus the US Dollar, while bitcoin is…

Market Mostly Trades Sideways as Bitcoin Price Holds Above $10,300

boss

Monday, Sept. 9 — Cryptocurrency markets are largely trading sideways with most changes among the top-20 coins not exceeding 1% on the day. Market visualization. Source: Coin360 Bitcoin (BTC) has been trading sideways for the better part of the day and seems to be holding above the $10,300 price mark. The coin saw a low of $10,080 earlier before moving to an intraday high of around $10,400, and is currently trading at $10,354, showing a small loss of 0.41% on the day. In a crypto price analysis for Cointelegraph earlier today,…