Day: November 24, 2019

Online Gaming Platform Rewards Players with Bitcoin when Killing Others

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Just when you think you have seen it all in the crypto world – boom (literally), another new fascinating occurrence surfaces. An online gaming platform took the crypto game to a whole different level as it includes a feature that rewards players with Bitcoin(BTC)trade when they kill other players. The news broke the crypto ecosystem two days ago when the gaming development firm Donnerlabs took to its Twitter page to announce the addition of a new cryptocurrency feature tagged the Bitcoin Bounty Hunt. With this feature, players can now hunt…

Despite Market Turbulence, Bitcoin’s Support Lines Remain Intact

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Technical analysis of price trends is a topic ever electrifying the world of crypto investment, with dynamic debate on social media and beyond. While there are no guarantees, there are fundamental methods for looking at data which can provide valuable insights, such as analysis of price support lines and resistance, as well as proposed approaches for making the most of bear markets such as the Mayer multiple. Also Read: Bakkt’s Bitcoin Futures Shatters Records Amid Spot Market Turmoil Support and Resistance “The voyage of the best ship is a zigzag…

Despite Market Turbulence, Bitcoin’s Support Lines Remain Intact

boss

Technical analysis of price trends is a topic ever electrifying the world of crypto investment with, dynamic debate on social media and beyond. While there are no guarantees, there are fundamental methods for looking at data which can provide valuable insights, such as analysis of price support lines and resistance, as well as proposed approaches for making the most of bear markets such as the Mayer multiple. Also Read: Bakkt’s Bitcoin Futures Shatters Records Amid Spot Market Turmoil Support and Resistance “The voyage of the best ship is a zigzag…

Russian Oligarch Turns Soviet Plant Into a Major Bitcoin Mining Hub

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The largest data center in the former Soviet Union, BitRiver, opened about a year ago in the Siberian city of Bratsk and most of its clients use the facility to mine Bitcoin (BTC), Bloomberg reported on Nov. 24. The data center allows cryptocurrency miners to take advantage of cheap energy in what once used to be the world’s largest aluminum smelter. The plant was built by the USSR in the 1960s with the still-active hydropower plant to power its operations. Cold climate, cheap energy The data center’s location also benefits…

‘No Capitulation’ — Bitcoin Miners Completely Unfazed by Price Drop

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Bitcoin (BTC) is not seeing capitulation among miners despite its price dipping over 15% in the past week, new data suggests. According to estimates of Bitcoin’s hash rate from monitoring resource Coin Dance, participation remains as strong now as before the price drop. Hash rate refers to the amount of computing power dedicated to maintaining the Bitcoin network. Hash rate sees 2nd all-time high According to some measures, the hash rate on Nov. 23, in fact, nearly matched its previous all-time high. At 134 quintillion hashes per second, Saturday’s reading…

US Congress Introduces Bill Classifying Facebook’s Libra a Security

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On Thursday, US congress has introduced a bill that would classify Facebook’s cryptocurrency Libra as a security. The new proposed law is likely to bring up larger issues of regulation and inspection to Facebook’s crypto project that the company introduced as an electronic payment system. Representatives Sylvia Garcia and Lance Gooden (Democrat and Republican from Texas) proposed the bipartisan bill titled ‘Managed Stablecoins and Securities Act of 2019’ during the same day of a committee hearing about the involvement of big data in financial services. Representative Garcia referred directly and…

Ethereum Price Weekly Forecast: ETH At Risk of Further Declines

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ETH price is down more than $30 in the past few days against the US Dollar. The price even spiked below $150 and it is currently correcting higher. There is a major breakout pattern forming with resistance near $152 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is struggling to correct higher and it could resume its decline below $150. Ethereum price is trading in a bearish zone below $155 and $160 against the US Dollar, similar to bitcoin. ETH price is likely to revisit $125…

Bitcoin Weekly Forecast: BTC Aiming Key $6.5K Support

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There was a sharp decline in bitcoin below the $8,000 and $7,500 supports against the US Dollar. The price is currently correcting losses, but remains at a risk below $7,400. There is another breakdown pattern forming with support near $7,240 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price is currently trading below the $7,500 resistance and likely to decline further. Bitcoin price is trading in a strong downtrend below $7,500 against the US Dollar. BTC is likely to continue lower towards the main $6,500…