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…
Month: January 2020
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…
Ethereum Highly Bullish Despite Setbacks; Here’s What Could Propel It To $200
Ethereum is slowly rising from the $162 support area, similar to bitcoin from $8,500. ETH price could start a decent increase to $180 or $185 if it settles above $170. Ether price is showing a few positive signs above the $162 and $165 support levels against the US Dollar. Bitcoin price is currently attempting to gain traction above the $8,700-$8,750 resistance area. Yesterday’s major bearish trend line is intact with resistance near $170 on the hourly chart of ETH/USD (data feed via Kraken). The pair must surpass the $170 resistance…
Craig Wright Court Saga Nears Judgment Day With More Questions Than Answers
It has been over a year since Australian computer scientist Craig Wright proclaimed himself as the inventor of Bitcoin (BTC), and the estate of his late business partner, Dave Kleiman, became clinched in litigation over the fruits of the duo’s collaboration in the inaugural years of the cryptocurrency era. The stakes include billions worth of Bitcoin as well as ownership of blockchain-related intellectual property. Mainly because of what the magistrate judge overseeing the case called Wright’s “willful and bad faith pattern of obstructive behavior,” the pretrial process devolved into a messy barrage…
Swiss Banks Enter the Age of Bitcoin
DAVOS — Switzerland’s banking industry has long been known to privately safeguard wealth, so some bankers see bitcoin as a natural fit for the nation’s financial sector. Although such bankers may still be a minority, Zurich-based SEBA Bank AG opened in November 2019 with a universal banking license and a suite of services ranging from fiat storage to crypto custody, a crypto-connected debit card that automatically converts to fiat on the backend for regular shopping and crypto-trading options through the bank’s mobile app. SEBA CEO Guido Bühler said the bank raised…
Bitcoin Cash Sees Mining Pool Shift and Hashrate Surpass 4 Exahash
While people have watched the BTC network surpass 100 exahash per second (EH/s), Bitcoin Cash (BCH) has been steadily gathering hashrate as well. Since the November 15, 2018 blockchain split, which produced the Bitcoin SV (BSV) chain, BCH hashrate has jumped by more than 3x. Bitcoin cash is often more profitable to mine than BTC and during the last seven days, the BCH hashrate has averaged around 4EH/s. Also Read: Debate Ensues After 68% of BCH Hashrate Mined by Stealth Miners Bitcoin Cash Hashrate Climbs Over 4 Exahash per Second…
Now Reporting to the SEC, Grayscale Bitcoin Trust One Step Closer to Public Trading
Grayscale’s Bitcoin Trust now reports to the United States Securities and Exchange Commission (SEC), putting it one step closer to public trading. The announcement Grayscale’s Bitcoin Trust manages investment in Bitcoin on behalf of investors, exposing them to the coin’s potential for gains while mitigating risks. The Jan. 21 announcement advertises the trust as the first of its kind to report to the SEC. Grayscale’s full Form 10 is available here. Subsequent to this registration, the trust will need to file quarterly and annual reports with the SEC, which will…
Binance’s Peer-to-Peer Merchant Program Goes Live
Earlier today, Binance announced the launch of its Peer-to-Peer (P2P) Merchant Program, a user-oriented fiat currency trading platform. How the program works In the Jan. 21 press release, the crypto exchange cites increasing demand of global users and a need for higher liquidity as prods for the P2P creation. Binance CEO Changpeng Zhao said: “In the past quarter, there has been increasing growth in trading volumes on Binance P2P platform, and we have constantly received requests for more fiat-to-crypto access from our global community. To meet the growing users demand,…
British Telecoms Giant Latest Member to Bail on Libra Association
Adding to a lengthy list of departures last fall, telecom giant Vodafone has departed the Libra association, a spokesperson from Vodafone confirmed to Cointelegraph in an email on Jan. 21, 2020. The representative said: “Vodafone Group has decided to withdraw from the Libra Association. We have said from the outset that Vodafone’s desire is to make a genuine contribution to extending financial inclusion. We remain fully committed to that goal and feel that we can make the most contribution by focusing our efforts on M-Pesa. We will continue to monitor…