Day: March 1, 2020

3 Crucial Reasons Why Bitcoin Could Soon Surge Higher From $8,500

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Over the past few days, Bitcoin has finally stabilized after the strong price crash seen on Sunday through Wednesday that took BTC from $10,000 to $8,400. While some analysts fear that this consolidation is a precursor to another leg lower, referencing the fact that assets never trend in a straight line, there’s a case building that this is consolidation is indicative of a bottom. Analysts have explained a number of technical reasons why they think is the case. Here are some of those reasons compiled by Ethereum World News.  Bitcoin…

A Fed Rate Cut is Terrible Medicine for the Infected Stock Market

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While the stock market craters, Fed funds futures markets now forecast a 96% chance of a Fed rate cut in March. Goldman Sachs expects three rate cuts from March through June. There’s also chatter about an emergency inter-meeting rate cut any day now. But other analysts say the Federal Reserve’s low interest rates and easy money policies are what got us into this mess to begin with. On Wednesday bond markets had priced in 75% odds of at least one Fed rate cut by June. A month earlier that figure…

5 Indicators to Watch When Timing the Bottom of the Stock Market Crash

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The stock market crash could become a great buying opportunity for long-term investors. Things are likely to get worse before they get better, so it’s hard to time the bottom. There are five key indicators investors can watch to determine when to buy the dip. Warren Buffett said to be fearful when others are greedy and greedy when others are fearful, but after a week of losses on Wall Street, some say that advice doesn’t apply. “Don’t catch a falling knife” was a more popular refrain this week as analysts…

What Do the Richest Men in the World Think of Crypto and Blockchain?

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For the past decade, blockchain, Bitcoin (BTC) and other cryptocurrencies have disrupted everything they have touched — including banking, hedge funds, law enforcement, health care and real estate to name a few. Blockchain technology and cryptocurrencies are set to revolutionize many industries, yet this is only the beginning. However, despite the overall enthusiasm and excitement around cryptocurrencies and blockchain technology’s capacity to revolutionize the world as we know it, many of the world’s richest men have expressed mixed opinions. For instance, some billionaires, like Warren Buffett, are known to be…

Why Do We Treat AOC & Greta Thunberg Like They’re Climate Scientists?

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A recent survey found an alarming number of Americans trust Alexandria Ocasio-Cortez and Greta Thunberg about global warming. They also trust Bill Nye, Leonardo DiCaprio, and Pope Francis. But none of these people are scientists. And they’re spreading climate alarmism and mythology, not climate science. An eye-opening survey by Yale and George Mason University found that two-thirds of Americans trust Greta Thunberg as a source of information about global warming. Even though she’s famous for skipping class to do activism instead of learning science. More than half of Americans also…

Dubai Welcomes Global Businesses With First Blockchain KYC Platform

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Dubai International Financial Centre (DIFC) and Mashreq bank announced the launch of their new blockchain data-sharing platform on March 1st. This platform will allow licensed businesses and corporations to open digital bank accounts instantly by verifying their identities via an internal blockchain. Mashreq accomplishes this by removing the existing paper-based KYC procedure and replacing it with a blockchain-centric digital one. DIFC prepares each new KYC record as part of a company’s corporate license application. With the customer’s consent, this information is then shared electronically with Mashreq via the blockchain. The…

Hodler’s Digest, Feb. 24–Mar. 1

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Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week A bruising week for cryptocurrencies, stock markets and even gold This week, it seemed like nowhere was safe from panic over the coronavirus. Almost $3.2 trillion in U.S. stocks has been wiped out U.S. since Monday — and over the past seven days, Bitcoin has…

Analyst Claims 98% of Mining Rigs Fail to Verify Transactions

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Alex de Vries, the founder of the Digiconomist, has given a damning assessment of the electricity consumed by Bitcoin (BTC) mining in an interview with British media outlet, The Telegraph. According to de Vries, a single Bitcoin transaction expends the same quantity of electricity needed to power a British household for 59 days, 780,650 Visa transactions, or 52,043 hours of video streaming on Youtube. The article asserts that the annual returns generated from Bitcoin mining are nearly $5.9 billion — with approximately 4 billion mining units competing for a share…

XRP Price and Volume Linked to Twitter Activity, New Data Reveals

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XRP gains from the month of February were erased over the past two weeks as the altcoin returned to its late January price at $0.23 today. The majority of the losses appear to be caused by the massive correction in traditional markets, which caused a sharp downturn for Bitcoin and many altcoins. As reported by Cointelegraph, analysts now view the correction as a major setback, raising doubts about the future of the long-awaited bull market.  Cryptocurrency market daily overview. Source: Coin360 XRP is one of the most frequently mentioned cryptocurrencies…

“Big Money” Could be Longing Altcoins if Bitcoin Holds This Key Level

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Altcoins have been shedding a significant amount of their value over the past several days and weeks, with the recent Bitcoin selloff sending shockwaves throughout the aggregated cryptocurrency market. Analysts are now noting that Bitcoin is currently trading just a hair above a critical support level, with a continued defense of this level potentially opening the gates for significantly further upside for altcoins. This has led one top trader to note that a loss of this level, however, could spark an intense and far reaching selloff. Bitcoin Trades Above Critical…