Every bitcoin dip is being bought at a remarkable rate says top trader Filb Filb. The strong momentum of BTC above a key resistance level at $9,000 positions BTC for a potential upsurge to $10,000. Bitcoin is recovering at a faster pace than expected In October 2019, Filb Filb said in an blog post that the bitcoin price is anticipated to achieve $10,000 by March 2020. The model the trader used to forecast the medium-term price trend of the bitcoin price was based on previous fractals. 12-month bitcoin price forecast…
Day: January 28, 2020
Draft of India’s National DLT Strategy Calls for State-Run Digital Rupee
A draft of India’s national strategy on blockchain and distributed ledger technology suggests a central bank digital currency (CBDC), the digital Indian rupee, and a national blockchain. The National Institute for Smart Governance (NISG), a non-profit public body incorporated by the government of India, has published a draft document on the country’s national blockchain strategy. Issued on Dec. 30, the document appears to have been published recently as major local publications such as The Economic Times of India reported on the draft strategy on Jan. 28. Digital rupee should be…
IBM Awarded Patent for ‘Self-Aware Token’
IBM has received a U.S. patent for a type of “self-aware token” that can record its own transaction data. Awarded by the U.S. Patent Office on Jan. 7, the patent outlines a ledger-based payments system that could make it easier for individual users, businesses and governments to track and trace transactions made using a cryptocurrency. Dubbed the “self-aware token,” it is designed to record all transaction data when not being used on a payments platform that IBM patented back in 2012. When the token rejoins the platform ecosystem at a…
Bitcoin Eclipses $9,100, And Data Shows Institutions Are Only Just Getting Started
Bitcoin was one of the few assets heading higher this week as fears about the Coronavirus outbreak led a steep fall in global markets. The benchmark cryptocurrency on Tuesday was up by 1.91 percent to trade near $9,066.21 per token in spot markets. At the same time, CME Futures linked to bitcoin were also trading 0.5 percent higher at $9,040. The moves uphill suggested that speculators were increasing their exposure on the cryptocurrency. That was further evident in the weekly performance of GBTC, an institutional-grade trust tied to bitcoin. The…
Bitcoin Price Breaks over $9,000, Coronavirus Isn’t Only Influencing Factor
As per reports from Forbes on January 27, 2020, Bitcoin (BTC), the world’s largest cryptocurrency experienced a 5% rise, briefly climbing as high as $9,142.80 per Bitcoin on the Luxembourg-based BitStamp exchange before slightly falling back afterward. At the moment of writing, Bitcoin price is $9,017. However, this price still demonstrates a more than 4% growth over the last 24 hours. Since Bitcoin enjoyed a tremendous boost in 2017, it has struggled to reach a similar height. The crypto is still half its all-time high. It suffered a huge setback…
Bitcoin Rallies to Near $9,150 as Stocks Drop Over Coronavirus Fears
Bitcoin is maintaining its upward trajectory as coronavirus-led risk aversion hits the traditional markets. The top cryptocurrency by market value crossed the 200-day moving average at $9,000 during Tuesday’s Asian trading hours and rose to a high of $9,150, pushing the cumulative month-to-date gains to over 25 percent. At press time, bitcoin is changing hands at $9,061. Despite the minor pullback from the morning’s high, the cryptocurrency is still reporting a 4.8 percent gain on a 24-hour basis, and is up roughly $700 from lows near $8,250 observed over the…
Oil Giant Saudi Aramco Buys Into Blockchain Trading Platform Vakt
Saudi Arabia’s state oil company, Saudi Aramco, has bought into the blockchain-based oil trading company Vakt, Reuters reports on Jan. 28. Saudi Aramco’s Energy Ventures branch has bought $5 million in new shares, according to Vakt’s press release. The investment will be used to develop the platform, with a focus on expansion into the Asian market. In addition to investment, the oil conglomerate’s trading subsidiary Aramco Trading is set to use the Vakt platform. The platform is currently live in the North Sea Brent, Forties, Oseberg, Ekofisk and Troll crude…
BTC Price Back at $9,000 But No, Coronavirus Isn’t ‘Good for Bitcoin’
Bitcoin (BTC) may be gaining thanks to “economic fear” over coronavirus — but only up to a point, analysts are concluding as the disease spreads. The cryptocurrency hovered at around $9,000 on Tuesday, capping 4% gains for the week in which coronavirus sent China into partial lockdown. Coronavirus uncertainty creeps into markets Fears are now surfacing about the impact on Chinese economic growth, while global signals also suggest investors are more cautious about the short term. For Cointelegraph Markets analyst Mati Greenspan, the sentiment is already palpable. Uploading a chart…
One of World’s Richest Firms Joins Blockchain Trade Platform Vakt After $5M Investment
The investment arm of one of the biggest firms in the world by revenue – oil giant Saudi Aramco – has made a $5 million investment in Vakt, a commodities post-trade processing platform based on blockchain tech. Announced in a press release Tuesday, Saudi Aramco Energy Ventures (SAEV) now joins 11 other investors in Vakt. The oil giant also intends to become a user of the Vakt platform via another subsidiary, Aramco Trading Company. SAEV parent firm Saudi Aramco, according to Wikipedia, has the second biggest daily oil production and…
One of World’s Richest Firms Joins Blockchain Trade Platform Vakt After $5M Investment
The investment arm of one of the biggest firms in the world by revenue – oil giant Saudi Aramco – has made a $5 million investment in Vakt, a commodities post-trade processing platform based on blockchain tech. Announced in a press release Tuesday, Saudi Aramco Energy Ventures (SAEV) now joins 11 other investors in Vakt. The oil giant also intends to become a user of the Vakt platform via another subsidiary, Aramco Trading Company. SAEV parent firm Saudi Aramco, according to Wikipedia, has the second biggest daily oil production and…