Over the past month, Bitcoin (BTC) has absolutely exploded higher. In fact, the cryptocurrency is up around 40% since the low of $6,400 put in during December of last year. While many analysts have said that this jaw-dropping rally constitutes a macro reversal that will thrust BTC back into a decisively bullish phase, some aren’t so sure. In fact, a number of commentators have suggested that the crypto market’s current price action is eerily reminiscent to that of the middle of July of 2018, which saw Bitcoin see a false…
Day: January 22, 2020
Digital Chamber Asks Court to Draw Line Between Investment Contracts and Assets in Telegram Case
The Chamber of Digital Commerce, a blockchain advocacy group, wants a U.S. court to distinguish between an investment contract and the underlying asset used by Telegram during a 2018 initial coin offering (ICO). The Digital Chamber submitted an amicus curiae brief – a filing made by someone who is not a party in the litigation – in Telegram’s ongoing fight in court with the U.S. Securities and Exchange Commission (SEC), which alleged the messenger platform violated securities law during its $1.7 billion ICO. The chamber urges the SEC to draw…
Top Crypto Analyst Lays This Case for 100% Cardano (ADA) Price Surge
Near the top of the Bitcoin bull market in 2018, Cardano (ADA) was dominating. Everything. Aside from a few select altcoins in Ethereum, XRP, and BCH, ADA was at the top of the market, rallying on a seemingly strong team and the promise of Cardano becoming the next leading blockchain that could service everything and everyone. But, since then, the cryptocurrency has seen quite the fall from grace. Per TradingView data (seen below), the cryptocurrency has collapsed by 96.74% against the U.S. dollar since the all-time high well above $1.…
Binance Invests in Open-Data Framework Provider Numbers Seeking Product Boost
Cryptocurrency exchange Binance has made an undisclosed investment in open-data framework provider Numbers. Announced in a blog post on Wednesday, Gin Chao, strategy officer at Malta-based Binance, said Numbers’ protocol will bring developers “easy access” to the exchange’s own blockchain – Binance Chain – and could be used features like hardware wallet security, digital signatures and more. Numbers has developed a protocol that it says makes data “open, transparent and traceable,” with use cases in digital identities or supply chain traceability. It’s also built an open-source mobile app that “fingerprints”…
Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously
As advancements in blockchain technology increase, there has been a wider debate regarding cryptocurrency and global safety. In an analysis report conducted by Chainanalysis, the findings indicate some concerning issues regarding the use of cryptocurrency. Ibn Taymiyya Media Center (ITMC), the media representative of a terrorist organization called Mujahideen Shura Council, became the first terrorist organization to establish a crowdfunding donation in 2016 using cryptocurrency. The organization guaranteed donors that the money it raised would be used to purchase weapons for terrorist activities. The campaign was called ‘Equip Us’ in…
KuCoin’s PoS Mining Platform Pool-X Launches the World’s First Liquidity Trading Market
Pool-X, the next generation POS mining platform supporting lockup crypto transactions backed by KuCoin, today announced the launch of its Liquidity Trading Market. The market allows users to buy and sell staked digital assets, bringing more flexibility and liquidity to the staking economy. To celebrate the launch of the liquidity market on Pool-X, it will be running an activity where participants can get a share of 5,000 USDT. The PoS (Proof of Stake) consensus algorithm was established in 2012 and has been developing rapidly in recent years. In 2019, the…
Bitcoin Price Tightens as Traders Prepare for a Second Shot at $9.2K
After a strong two week performance that saw Bitcoin (BTC) price rise from $7,700 to $9,200, the top crypto asset appears to be consolidating before making another attempt at $9,200. As this process takes place and Bitcoin’s dominance rate dropped slightly, many altcoins rallied with double-digit gains which brought many to test or even push above their 2-year long descending trendlines. Most notably, the ETH/BTC pair pushed above its long-term downtrend, an occurrence covered in great detail by Cointelegraph contributor Michaël van de Poppe. Cryptocurrency market weekly overview. Source: Coin360…
Bitcoin Just Saw A Key Technical Breakout: Big Reaction From Bulls Imminent
Bitcoin reversed after a sharp dip towards the $8,400 support area against the US Dollar. BTC price is now signaling more upsides above $8,800 and $9,000 in the coming sessions. Bitcoin price bounced sharply and formed a bullish engulfing pattern above $8,550 against the US Dollar. The bulls are likely to take control once the price surpasses the $8,800 resistance area. There was a break above a key declining channel with resistance near $8,665 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might dip…
Is Bitcoin a Safe Haven for Your Money?
In the summer of 2019, the 10-year minus 3-month yield curve inverted for the first time in 13 years. During the time of the inversion, Bitcoin’s price hit all-time highs for the year. The previous inversion in 2006 was followed shortly thereafter by the global economic crisis of 2008. On Jan. 3rd 2020, United States President Donald Trump ordered the killing of Iranian general Qassem Soleimani by drone strike. The Iranian government retaliated on Jan. 8th by launching missiles at two American bases in Iraq located near Baghdad. Throughout the…
Ripple (XRP) Breaking This Variable Will Spark A Strong Rally To $0.26
Ripple is currently recovering above $0.2325 against the US Dollar and bitcoin is trading above $8,700. XRP price is likely to surge towards $0.2500 or $0.2600 once it clears the $0.2400-$0.2420 resistance. Ripple price is showing a few positive signs above the $0.2320 area against the US dollar. The bulls seem to be facing a couple of hurdles near the $0.2400 and $0.2420 levels. Yesterday’s followed important bearish trend line is active with resistance near $0.2385 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair…