Day: March 14, 2020

Bitcoin Price Bounces Above $5K as Analyst Forecasts a ‘Squeeze Up’

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Bitcoin (BTC) held onto $5,000 support on March 14 as markets broadly steadied after many saw their worst week in over 30 years. Cryptocurrency market daily overview. Source: Coin360 BTC price crash “did not break the model” Data from Coin360 and Cointelegraph Markets showed BTC/USD circling $5,300 at press time on Saturday. Volatility remained high, with the pair’s 24-hour range close to $1,000. Bitcoin was fresh from daily lows of $4,940, which came hours after trader Tone Vays predicted that the cryptocurrency would dip below $5,000 for a final time. …

Bitcoin & Gold ‘Are Doing the Same Thing’ in Coronavirus Crisis: Pomp

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On March 14, Tyler Winklevoss, the co-founder and CEO of Gemini and prominent early Bitcoin investor, took to Twitter to defend Bitcoin despite the recent market crash. In the tweet, Tyler emphasizes that Bitcoin is still in its infancy, stating:  “If bitcoin isn’t gold 2.0, then what is it? The fact that it’s not acting how you might expect only underscores just how early it is.” Supporting Winklevoss’ assertion, Anthony Pompliano, the co-founder and partner at Morgan Creek Digital, has attributed the recent crypto market meltdown to a broader liquidity…

Bitcoin Fails to Jump $6,000, Top Analyst Warns Further Breakdown

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Bitcoin is in for more jump scares after having fallen by more than 50 percent this week. With the expanse of Novel Coronavirus rippling through financial markets, bitcoin plunged from $10,000 in February to $3,858 as of Friday. On the same day, the cryptocurrency recovered to hit an intraday top at $5,995, almost failing to break above $6,000, a level that historically served it as strong support/resistance. Entering the weekend session, bitcoin is now down by close to 4.5 percent. The cryptocurrency’s plunge appears as traditional markets take a break…

How to Track, Get and Set the Best Transaction Fees with Bitcoin and Bitcoin Cash

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Once set up with a bitcoin or bitcoin cash wallet and some coins, using and sending them is pretty easy. Part of this process involves paying a transaction fee, which is a small amount of coin included in a transaction incentivizing miners to work the tx into a block. Both BTC and BCH transactions have fees, with BCH fees being much lower. This post will detail some ways to find and track the best possible fees, set tx fees in your wallet, and make the most of this aspect of…

OKEx Pool Among Top 5 Mining Pools, Charts Future Path for the Industry

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OKEx Pool, a global integrated mining pool from OKEx, is offering a one-stop mining and trading service for its users from across the world. The mining pool, not confined to any one specific cryptocurrency, is known for the variety of mining services it offers for Proof-of-Work (PoW), Proof-of-Stake (PoS) and PoS-variant cryptocurrencies. Cryptocurrency mining has been a very lucrative activity where people managed to earn a small fortune with their own mining set up. But eventually, as dedicated mining hardware became more powerful and difficulty levels increased, mining crypto by…

Ripple Court Ruling May Expand Legal Action Potential Against Crypto

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A California court has argued that cryptocurrencies that are not securities may be subject to federal laws targeting unfair, deceptive, or abusive acts or practices (UDAAP) during a Feb. 26 hearing for a consolidated class action against Ripple Labs Inc. During the Feb. 26 hearing, the court asserted that transactions involving cryptocurrencies that are not deemed to be securities may be subject to UDAAP laws — paving the way for further putative action to be taken against other crypto projects that claim exemption from federal securities laws, particularly in California.…

There Are More Reasons to Be Bullish On Bitcoin Than Bearish

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After Thursday’s brutal crash and the follow-up wick on Friday morning, Bitcoin investor sentiment is down in the dumps; many believe there are few reasons to be bullish on the short-term to long-term prospects of the leading cryptocurrency. While this was seemingly true when BTC traded as low as $3,800, analysts are saying that the bull case for the asset, at least for the short-term, is rapidly building. Bitcoin Is Technically Bullish At Current Levels Trader CJ remarked that there are more reasons to be bullish on Bitcoin than bearish,…

Bitcoin Price Correlates With Traditional Assets, but Not Entirely

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Since coming to power back in 2016, President Trump seemed to have reinvigorated the United States stock market after it showed signs of slowing down throughout the first half of the previous decade. Just three weeks ago, the American market witnessed a combined gain of 58% compared with the last three or so years. However, following the World Health Organization’s recent declaration of the novel coronavirus pandemic on March 11 — with the independent research body citing 118,000 cases and more than 4,000 deaths globally — this rosy picture seems…