Day: March 10, 2020

Bitcoin Is Money Printing Protection as US Bond Yields Hit Lowest Ever

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Bitcoin (BTC) is not a hedge against “every” global meltdown but will ultimately protect its users from central banks, governments and fiat money printing. That was the consensus building among cryptocurrency supporters on March 10, as traders awaited the next stage of worldwide panic — this had given much of the economy its worst day since the 2008 financial crisis. BTC increasingly “uncorrelated” On Monday, currency markets and stocks led the losses, which were later joined by markets such as United States government bond yields. In a move unprecedented in…

Venture Studio Invests $3 Million in Crypto Firm First Digital Trust

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A Taiwanese venture studio just became the new lead investor for a Hong Kong-based crypto custodian following a multimillion dollar investment this week. Nogle announced yesterday they had given $3 million to First Digital Trust (FDT), the digital asset arm of Legacy Trust. The investment is intended for the financial custodian to develop its own crypto asset platform for the Asia market. FDT’s Rapid Settlement and Clearing Network trading platform for digital assets is set to be launched in May. The platform may provide an alternative solution for Asia markets…

This Pattern Could Send Bitcoin To $8,200 Where Bears Are Waiting

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Bitcoin is currently correcting higher from the $7,638 monthly low against the US Dollar. BTC price could correct higher towards the $8,200 resistance area, where the bears are likely to appear. Bitcoin is showing a few recovery signs above the $7,800 level against the US Dollar. The price is currently forming a rounding pattern, which could lead the price towards $8,200. There was a break above a declining channel with resistance near $7,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to…

Ripple (XRP) Breaking This Single Level Will Spark a Strong Rebound

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Ripple is currently correcting higher from the $0.1981 monthly low against the US Dollar. XRP price must break $0.2100 and $0.2150 to start a strong recovery in the near term. Ripple price is currently consolidating above the $0.2000 pivot level against the US dollar. The price is facing a lot of hurdles near the $0.2100 and $0.2150 levels. There is a key bearish trend line forming with resistance near $0.2085 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could correct higher towards $0.2150, above…

Securitize Using Digital Securities to Help Japan’s Real Estate

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Two companies have developed a blockchain-based solution to address the large number of vacant homes in the Japanese countryside. Securitize, a compliance platform for token issuers, has joined forces with Tokyo-based LIFULL to create a funding platform using digital securities to invest in real estate. According to a March 10 press release, the collaboration has been successful in proving that blockchain technology and digital securities are more effective crowdfunding for the Japanese real estate market than traditional methods.  LIFULL Social Funding, in collaboration with BUIDL, a subsidiary of Securitize, will…

Ethereum Recovery Could Be Short Lived Near This Key Resistance

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Ethereum is extended its decline below the $200 support area against the US Dollar. ETH price traded as low as $188 and it is currently correcting higher towards $205 and $208. Ethereum is currently recovering losses from the $188 monthly low against the US Dollar. The price is likely to face a lot of hurdles on the upside near $208 and $212. There was a break above a major declining channel with resistance near $199 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is now trading…

Regulatory Roundup: French Court Considers Bitcoin Money, Cryptocurrencies Legitimized in South Korea, Australia, India

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The cryptocurrency sector worldwide saw several historic regulatory events last week. In this roundup, we cover a landmark bitcoin ruling by a French court, South Korea’s first crypto bill, an Australian court’s ruling, Germany’s announcement, and a recent FATF meeting where more than 800 delegates discussed crypto regulations. In addition, after almost two years, the Indian supreme court has quashed the RBI ban on crypto businesses. Also read: SEC Karate-Chops Steven Seagal Over Promoting Cryptocurrency Touted as the Next Gen Bitcoin French Court Rules Bitcoin Is Like Money France’s Nanterre…

Top Macro Analyst Explains Why Bitcoin Has Crashed 17% Since $9,200

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Bitcoin hasn’t done well in the past two days; since hitting $9,200 on Saturday, the cryptocurrency has plunged as low as $7,600, more than 17% lower than the weekend high, in a move that has liquidated over $200 million worth of BitMEX long positions in the process. The move undoubtedly caught traders off guard, hence the massive amount of liquidations. But, there are some weighing in on what crashed Bitcoin. Bitcoin’s Drop May Be Hedge Funds According to Raoul Pal — CEO of finance media startup Real Vision, former Europe…