Day: December 2, 2019

Cracking $7.4K Opens Path to $8.1K Resistance — Analyst

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Bitcoin (BTC) stayed rangebound on Dec. 2 after a descent from near $8,000 over the weekend failed to crack the $7,000 support. Cryptocurrency market daily overview. Source: Coin360 Bitcoin volatility lessens but $7.5K evades traders Data from Coin360 showed the largest cryptocurrency trading in a narrower $300 corridor as the week began, with 24-hour performance bottoming out at around $7,180. At the top of the range, BTC/USD nonetheless failed to retake $7,500, at press time fluctuating around $7,300. Bitcoin seven-day price chart. Source: Coin360 The reduction in volatility soothed analysts,…

Price Analysis 02/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

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Bitcoin appears to have bottomed at $6,500 and once confirmed many cryptocurrencies could provide lucrative trading opportunities at a good risk-reward ratio. Bitcoin price continues to trade with an advantage to bears but this does not mean investors or miners have capitulated. About 64% of the total Bitcoin mined to date has been dormant in wallets since 2018. This shows that Bitcoin hodlers do not believe in trading for short-term gains, as they anticipate much higher prices in the future. While this might be a feasible strategy for the whales,…

OKEx Continues to Dominate the Crypto Futures Derivatives Market in Volume

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Futures trading is one of the common trading activities in traditional financial markets, and it is no different when it comes to the cryptocurrency world as well. Currently, there are plenty of platforms that offer cryptocurrency futures trading options, and the leader among them by a huge margin is OKEx, which has managed to gain the tag of the world’s largest futures cryptocurrency exchange. 😱Crypto derivative market reported volume exceeds $20 billion in the wake of bitcoin price decline#bitcoin #btc $BTC #BItMEX pic.twitter.com/8seKkX52ZH — CoinGecko | coingecko.eth (@coingecko) November 22,…

Waves DEX Shuts Down and Relaunches as Hybrid Cryptocurrency Exchange

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Decentralized exchange (DEX) Waves DEX shut down to resume operations as a hybrid exchange, Waves announced in a press release shared with Cointelegraph on Dec. 2. Per the release, the exchange has already ceased operations on the old domain and the process of moving its activities to Waves.Exchange has already started. The company announced: “From this point onwards, the old version of the exchange will be unavailable, and the website will offer only functionality to support migration. User funds held on Waves DEX will remain completely safe during and after…

Forget Satoshi Nakamoto, David Schwartz is the Trillion Dollar Man

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Since Satoshi Nakamoto released the Bitcoin white paper back in 2008, the world of finance has been turned inside out and onto its head. But Bitcoins world-changing concept for a decentralized network is not exclusive to Satoshi, Ripple’s CTO already patented a similar concept way back in 1988. A distributed computer system is a network of computers each of which function independently of but in a cooperative manner with each other. The versatility of a computer system can be increased by using a plurality of small computers, such as personal…

OneCoin Website Goes Offline as Net Closes in on $4B Ponzi Scheme

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The website for cryptocurrency Ponzi scheme OneCoin has finally ceased operating, months after United States authorities indicted one of its founders for fraud. As MLM scam monitoring resource BehindMLM.com noted on Dec. 1, OneCoin.eu no longer returned a live result as of Nov. 30.  “Legal investigation” offlines OneCoin.eu Upon investigation, a representative from EurID, the domain’s registry, confirmed to the publication that the website was offline due to the criminal proceedings against OneCoin. “The domain name is under legal investigation. Please further check our WHOIS for the status of the…

Bitcoin Price Technical Analysis (Dec. 2): No Indication for a Breakout

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When looking at the chart below we can see that Bitcoin(BTC)trade is trading at $7,300. The largest cryptocurrency by market capitalization is trading witin the channel with $7,600 acting as resistance and as the channel upper limit, and $7,190 is acting as support and as the channel lower limit. The lower limit is confirmed by the formation of a morning star pattern and the upper limit is confirmed by the formation of a piercing pattern. Dow Theory The Bitcoin price is currently appearing in the accumulation phase. This is the…

Blockchain Firm Figure Technologies Secures $58M, Aims for $103M

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San Francisco-based fintech firm Figure Technologies has secured $58 million in a recent funding round which aims to raise a total of $103 million. According to a filing with the United States Securities and Exchange Commission, Figure — which is the creator of Provenance, a blockchain platform to track supply chains — has raised over $58.8 million in a total equity offering of $103 million.  In February, Figure raised $65 million in Series B equity funding, which brought the company’s total equity funding to over $120 million. At the time, the…