Day: February 12, 2020

$300: Ethereum Bulls Aim Big After Recent 12% Surge To $250

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Ethereum price surged more than 12% and broke many hurdles near $230 and $240 against the US Dollar. ETH is likely to continue higher towards the $300 handle in the near term. Ethereum declined below the $225 and $220 support levels against the US Dollar. The key targets of $240 and $250 were achieved (as discussed in the weekly forecast). There was a break above a major contracting triangle with resistance near $223 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is back above the $10,000…

Australia’s Blockchain Roadmap Isn’t Music to Everyone’s Ears, Draws Criticism

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So far, 2020 has been a year of cryptocurrency regulation: The European Union, the United Kingdom and Singapore have officially introduced their approaches to the burgeoning industry. Now, Australia has published its national roadmap, hoping to become a global blockchain leader.  Last Friday, Australia’s Department of Industry, Science, Energy and Resources launched the national blockchain roadmap — a 50-page document that defines how blockchain technology could benefit the local economy over the next five years.  The paper, developed in conjunction with industry participants, oversees a number of specific fields where…

Cryptocurrency Proponent Andrew Yang Ends Presidential Bid

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Democratic presidential candidate Andrew Yang has withdrawn from the election following a dismal showing in the New Hampshire primary Tuesday. Yang entered the race in November 2017, centering his campaign around his signature “universal basic income” proposal, which would provide a $1,000 per month income to American adult. However, as a candidate, he also created policy positions around the crypto and broader technology spaces. In particular, he advocated for a comprehensive national approach to blockchain and crypto, rather than a “hodgepodge” of state and uncertain federal regulations. “I think it’s…

Amazon Flails at Trump, Lashes Out at Reporters in Total Meltdown

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Amazon appears stressed to the point of rage and panic this week. While Jeff Bezos dumped billions in Amazon stock, the company filed suit against Trump over a $10 billion Pentagon cloud contract. And a senior vice president had a total meltdown on Twitter. He got into a petty flame war with reporters. Is Amazon coming unglued? Amazon stock (NASDAQ:AMZN) has gone parabolic over the last two weeks. But you wouldn’t guess it from the online retailer’s unsteady, combative stance recently. Source: Yahoo Finance In fact, the recent gains look…

Housing Market, Consumer Debt Bubble Will End ‘Miserably’ – Analyst

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A new Federal Reserve report shows household debt surged in 2019, growing the fastest since 2008. The housing market is partly to blame. Fourth quarter mortgage originations ballooned at their highest pace since 2005. Household debt now stands at a perilous record $14 trillion. Famed economist and global market strategist David Rosenberg says, “This turbocharged debt cycle will end miserably.” The stock market, jobs market, and housing market seem as robust as ever. The economic recovery since the Great Recession will mark 11 years if it continues until June. That’s…

2K’s New Studio Could Be Making Its Next GTA-Sized Hit

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2K announced the name of its Silicon Valley game development team. 31st Union is being led by Michael Condrey, who co-founded Call of Duty developer Sledgehammer Games. 31st Union’s first game will be an “ambitious” IP. In a press release today, 2K confirmed that the name of its Silicon Valley development team is 31st Union. The developer has an “intentioned culture that champions inclusivity and greater representation,” said president Michael Condrey, who has worked on Call of Duty and Dead Space, in the press release. The studio’s first game will…

2K’s New Studio Could Be Making Its Next GTA-Sized Hit

boss

2K announced the name of its Silicon Valley game development team. 31st Union is being led by Michael Condrey, who co-founded Call of Duty developer Sledgehammer Games. 31st Union’s first game will be an “ambitious” IP. In a press release today, 2K confirmed that the name of its Silicon Valley development team is 31st Union. The developer has an “intentioned culture that champions inclusivity and greater representation,” said president Michael Condrey, who has worked on Call of Duty and Dead Space, in the press release. The studio’s first game will…

Investors Shouldn’t Sweat Coronavirus: Ray Dalio

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Ray Dalio sees little to worry about regarding the coronavirus outbreak. The hedge funder expects markets to rebound despite concerns over slowing growth. The virus will shave about one percentage point from China’s economic growth rate. Even as the death toll from the fast-spreading coronavirus illness exceeds 1,000 people in China and the number of infections rise to over 40,000, billionaire hedge fund manager Ray Dalio is exuding optimism. According to Dalio, the impact of the pandemic on markets is overblown: [Coronavirus] probably had a bit of an exaggerated effect…

Hokko Life and Other Genre Clones Are the Best Way to Innovate

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A new life sim is drawing comparisons to Animal Crossing. The game includes various improvements to the life simulation formula. We should never shame similar ideas, as each can innovate in their own way. Game development is more accessible than ever. As a result, some video games will be similar to others, especially as grown-up gamers replicate their favorite childhood experiences. This also means some games will be negatively accused of “cloning” their inspirations. That should never be the case. Hokko Life is an upcoming life simulator in the vein…

Price Will Hit $11k Before Pullback

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Over the past few days, Bitcoin has been subject to heavy volatility. After surmounting $10,000 on the weekend, the cryptocurrency plunged by 4% earlier this week, falling from $10,200 to $9,700 in a matter of minutes. After settling around $9,750, the price of Bitcoin jumped by 4% today, rallying as Bitfinex began enacting a scheduled maintenance of their exchange. While some have said that this price action is a precursor to a larger drawdown that will take prices to the low-$9,000s, maybe lower, a leading analyst is convinced BTC will…