Day: February 23, 2020

Bitcoin Price Grapples With $10K — 2 Scenarios for the Week Ahead

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Bitcoin (BTC) bears took their pound of flesh last Wednesday. However, was this simply a long-overdue correction that was needed for Bitcoin to continue to rally to fresh highs? Today I’m going to look at the two scenarios that could play out next week. Daily crypto market performance. Source: Coin360.com The bearish scenario for Bitcoin price BTC USD daily chart. Source: TradingView It was a devastating blow for bulls last week on Wednesday, Feb. 19, as Bitcoin fell by approximately 10% in a single hourly candle. However as can be…

Star Wars Games Look Promising as EA Gains Focus for the First Time

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Star Wars might be okay in EA’s hands after all. After being known as the worst company in America, EA had a fantastic 2019. It seems to be learning from past mistakes, especially when it comes to microtransactions. Compared to times past, EA is doing okay in the eyes of gamers – especially regarding the Star Wars license. In fact, EA’s stock is up 22% since September, as 2019 marked the turning point for the once-maligned game publisher. EA has long been the industry’s punching bag. 2013 saw the group…

Former CFTC Chair Giancarlo Says Fed Should Create a Digital Dollar

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Christopher Giancarlo, the former chairman of the Commodity Futures Trading Commission (CFTC) believes it’s time for the Federal Reserve to issue a fully digital currency on Feb. 21.  Giancarlo told Yahoo Finance’s On the Move program that the Federal Reserve must issue a digital currency in order to compete with China’s central bank digital currency (CBDC).  The former CFTC chairman highlighted that online shopping would benefit from the U.S. offering a digital payment option as there won’t be any intermediary fees involved like with the traditional debit and credit cards.…

The Simpsons Just Ran a Bitcoin Segment, and Crypto Twitter Is Raving About It

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It’s happened: Bitcoin and cryptocurrency got their own segment, albeit brief, on The Simpsons — one of television’s most popular shows. Ever. So what exactly happened during that segment? And more importantly, how is the industry responding to it? The Simpsons Airs Short Segment About Bitcoin  To create hype for the episode (S31, E13) of The Simpsons being realized on Sunday night, the show released a short segment of the upcoming episode: a Simpsonified Jim Parsons, the actor behind Sheldon in The Big Bang Theory, “explaining crypto currency.” During the…

Sectors Realizing the Full Potential of DeFi Protocols In 2020

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As the new decade unreels, a new wave of disruption seems to be coming to the shores of the global financial system. That wave is called decentralized finance protocols. Decentralized finance, or DeFi, simply refers to financial software that is built on the blockchain to make it easy for anyone to piece together digital assets and financial smart contracts. Think of DeFi as a Lego system for the finance industry. According to Defi Pulse, an analytics site that tracks the sector’s growth, the entirety of the DeFi ecosystem achieved its…

Bitcoin Restarts Uptrend But Hers’s Why 100 SMA Holds Key For Fresh Highs

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Bitcoin found a strong support near $9,330 and started a fresh increase against the US Dollar. However, BTC must settle above the 100 SMA (4-hours) for a sustained upward move. After trading to a new weekly low at $9,336, bitcoin price started a fresh increase above $9,500. The price is now trading nicely above the $9,600 and $9,700 levels. There is a major bearish trend line forming with resistance near $10,080 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair must climb above the 100…

Top Analyst Eyes Surge to $11,000 as Bitcoin Rapidly Jumps 3% Higher

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Bitcoin has once again started to show signs of recovery. In the past hour, the price of the leading cryptocurrency has exploded higher, from the daily low around $9,650 to as high as $9,040, a jump of 3%. While this move has not yet been sustained on a weekly basis, analysts say that this recovery is an extremely positive sign for BTC, for just days ago the asset was sitting at $9,300, on the edge of a cliff that may have brought it into the $8,000s for the first time…

Is Upside Past $10,000 Possible?

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Over the past 30 minutes, the crypto market has mounted a surprise recovery: Bitcoin, after flatlining around $9,650 for some 36 hours, surged higher just this hour, reaching as high as $9,945 just minutes ago as of the time of this article’s writing. This rapid 2% gain from $9,700 liquidated a mere $15 million worth of short-side positions on BitMEX, as leverage traders have been delevering their positions over the past day or two when Bitcoin started to stagnate. Bitcoin Surges Past $9,900, Leaving Many Asking What’s Next As this…

Ethereum Primed For Lift-Off And Move To $300 On The Cards

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Ethereum started a downside correction from well above the $280 level against the US Dollar, similar to bitcoin. ETH price found support near $245 and it is currently forming a fresh bullish trend. ETH price is trading nicely above the $245 and $250 support levels against the US Dollar. The price is slowly rising and it could continue to rise if it breaks the $270 barrier. There is a key bullish trend line forming with support near $254 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair…

This Trillion-Dollar Asset Manager Just Delved Deeper Into Bitcoin & Crypto

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While Bitcoin and crypto is largely a movement to disempower institutions and to put power back in the hands of regular people, there has been a space-wide focus on getting institutions involved in this industry. The thesis with this antithetical move is that institutional involvement in cryptocurrency: the world’s biggest firms and investors dabbling in the industry should draw in a large amount of human and financial capital, catalyzing innovation, creating a cycle of capital inflows and innovation. For those that believe this cycle is necessary, congrats, news has just…