Day: March 8, 2020

Proving That Tether Manipulated Bitcoin 2017 Bull Run Won’t Be Easy

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The iFinex–Tether market manipulation lawsuit continues. Last week, Judge Katherine Failla of the Southern District of New York selected Roche Cyrulnik Freedman as interim lead plaintiff counsel, and four civil actions were consolidated into a single class action: Leibowitz v. iFinex Inc.  In the complaints, iFinex’s subsidiary, Bitfinex, and related stablecoin Tether (USDT) are charged with manipulating the Bitcoin market in 2017 — something the firm strenuously denied. Combination of old and new This isn’t shaping up as an ordinary civil action. As Failla observed in announcing her lead counsel…

Bitcoin Slides Another 10% but Don’t Break Out the $4K Charts Just Yet

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Bitcoin (BTC) bears are at it again, driving the price down nearly another 10% on March 8 during the weekend when volume is at its thinnest.  So is the pre-halving rally over already? Or is it just about to get started? Daily crypto market performance. Source: Coin360.com The 4-hour outlook  BTC USD 4-hour chart. Source: TradingView Bitcoin broke out of a worrying descending channel on March 5. However in the last hour, after retesting the support line of this channel several times, it has now broken back into it just…

Bitcoin (BTC) Plunges to $8,300; Here’s What Analysts Are Thinking

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Bitcoin really hasn’t done well over the past day. After printing a false breakout candle on Saturday that brought the price of the asset to $9,200, there was a rapid and violent reversal. What followed was a dramatic and steep downtrend that has taken the price of BTC as low as $8,300 just last hour (as of the time of this article’s writing), marking a 10% drop from the highs. Here are what analysts expecting is next for Bitcoin. The Bullish Case for Bitcoin Although the price action that has…

Bitcoin (BTC) Plunges to $8,300; Here’s What Analysts Are Thinking

boss

Bitcoin really hasn’t done well over the past day. After printing a false breakout candle on Saturday that brought the price of the asset to $9,200, there was a rapid and violent reversal. What followed was a dramatic and steep downtrend that has taken the price of BTC as low as $8,300 just last hour (as of the time of this article’s writing), marking a 10% drop from the highs. Here are what analysts expecting is next for Bitcoin. The Bullish Case for Bitcoin Although the price action that has…

Top 5 Cryptos This Week (Mar 8): LINK, CRO, XTZ, MKR, ETH

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Most top performers of the past week are struggling to hold onto their intra-week gains. This shows selling at higher levels. The total crypto market capitalization has dropped from about $263 billion on March 7 to under $244 billion at press time. This shows a lack of demand at higher levels. The failure to resume the up move within the next few days is likely to attract further selling by the short-term traders. Binance’s research department noted a drop in Bitcoin (BTC) trading volume dominance from 40% to 27% in…

Boeing Uses Blockchain to Track and Sell $1 Billion in Aerospace Parts

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Boeing has partnered with multinational aerospace conglomerate Honeywell to use its GoDirect platform to track and sell $1 billion worth of excess airplane parts using blockchain technology. The partnership was revealed at the Hyperledger Global Forum 2020 in Arizona. Lisa Butters, the general manager of Honeywell, stated that the parts were uploaded to the GoDirect Trade marketplace last weekend. Blockchain opens spare aviation parts industry to online trade The aviation industry has traditionally relied on a headache-inducing web of paper certificates pertaining to each individual part, their original manufacturer, and…

Bitcoin Plunges to Fresh Lows Under $8,400; $90 Million in BitMEX Longs Liquidated

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Despite the strength seen earlier this week, Bitcoin started to plunge on Saturday. After printing a bearish “Darth Maul” candle that resulted in a crucial reversal at $9,200, the cryptocurrency has trended lower and lower, falling as low as $8,325 just minutes ago as of the time of writing this article. This marks a nearly 10% drop from the local high at $9,200. This move came in three legs: the first, which brought BTC from $9,200 to $8,900, occurred on Saturday afternoon; the second, which took prices from $8,900 to…

Bitcoin On-Chain Data Suggests Current Price Range Is a Buy

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Recent events surrounding the rapid spread of COVID-19 to nearly every country on Earth and major markets reaction to the phenomena have crypto investors scratching their heads in bewilderment as the sector has never endured a global financial markets meltdown.  The fact that Bitcoin (BTC) was born from a financial crisis but has yet to experience one raises the fear that the asset may perform poorly as traditional markets across the globe crumble.  These fears are clearly weighing on investor sentiment and with the May 2020 halving event fast approaching…

Breaking Down Coronavirus and Bitcoin Halving

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Don’t miss the second episode of “Beer and Bitcoin”, where Cointelegraph YouTube hosts Giovanni Pigni and Jackson DuMont discuss everything crypto…while sipping cold beers!  In this episode, our hosts debated Cointelegraph’s Top 100 list of the most influential people in crypto. Also, they showed how the Bitcoin halving is likely to impact Bitcoin price by analyzing different expert predictions. Finally, they discussed the impact the coronavirus is having on the crypto industry and the global economy.  Grab a cold one and join them! Source If You Liked This Article Click…

Retail Demand May Force the SEC to Approve a Bitcoin ETF

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Several investment firm executives have debated the likelihood of the U.S. Securities and Exchange Commission (SEC) licensing a U.S.-based Bitcoin (BTC) exchange-traded fund (ETF) during a CNBC broadcast on March 7. The discussion follows the SEC’s recent rejection of its last pending Bitcoin ETF application.  Wilshire Phoenix had first filed the application for its proposed ‘United States Bitcoin and Treasury Investment Trust’ with the SEC during January 2019.  Despite amending their application six times in 13 months, the SEC rejected Wilshire Phoenix’s ETF, citing concerns about manipulation of Bitcoin’s market,…