Day: March 25, 2020

Bitcoin (BTC) Needs to Overcome These 2 Hurdles Before Breaking $7,000

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In brief:  The US Congress finally agreed to a $2 Trillion stimulus package.  Bitcoin (BTC) reacted positively to the news and traded briefly at $6,960, Binance rate. However, the $6,900 resistance area and the CME Bitcoin futures expiry this week, might delay BTC from reclaiming $7,000 and turning it into support. The two major parties in the United States Congress have finally agreed regarding the workings of a stimulus package that will attempt to offset the economic effects of the Coronavirus. The stimulus will be worth $2…

Feds Fight Motion to Dismiss Case Against One Coin Crypto Scam Lawyer

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The United States government has stood by its evidence presented against alleged OneCoin money launderer and former attorney Mark Scott. In a memorandum filed on March 24, the government responded to Scott’s appeal that the prosecution provided insufficient evidence that the funds he handled were derived from illicit activities during November’s proceedings — where a jury handed the defendant a guilty verdict.  The former attorney was found to have personally profited $50 million for laundering $400 million in OneCoin’s profits. Scott filed his motion to dismiss the case with the…

Bitcoin Paints Two Extremely Bearish Patterns: Death Cross and Double Top

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Bitcoin prices rallied Wednesday to reach an intraday top at about $6,983 but the move did not improve its bearish outlook for the rest of the month. The bitcoin-to-dollar daily chart saw the formation of two extremely bearish patterns: Death Cross and Double Top. The former appeared after bitcoin’s short-term moving average slipped below its long-term moving average. Meanwhile, the latter appeared as the price reached a peak two consecutive times with a moderate decline between them. BTC/USD forming death cross and double top on the same day | Source:…

Edward Burton – Proof of Concept for a Blockchain COVID-19 Response System

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by Edward Burton, Developer ~ advertisement ~ Having outlined the rationale for using Blockchain as an emergency response system for the COVID-19 epidemic here: How Blockchain could help fight the coronavirus, we have gone one step further and built a demonstration system with a simplified architecture to demonstrate the value that blockchain technology could bring in establishing a secure, distributed system in our fight against the global epidemic. This demo system allows us to do the following: Pseudo-anonymously register citizens on a blockchain, sharing as much medically relevant data as required,…

Edward Burton – How Blockchain could help fight COVID-19

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Sharing is caring! by Edward Burton, Developer ~ advertisement ~ As a British expatriate living in Spain, I’m seeing the effects of the deadly coronavirus firsthand. At the time of writing this, I’m now on day eight of my quarantine at home with my wife and two young children (two and four). Many people are contributing courageously to the fight against the virus, with medical staff and front-line workers such as police and even agricultural/logistics workers risking their health and bravely providing the services we need to stop a terrible…

Vitalik Proposes Solution to ‘Embarrassing’ Lack of Bitcoin–Ethereum Bridge

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Ethereum co-founder Vitalik Buterin posted a tweet on March 24 claiming that the continuing lack of easy movement between the Ethereum and Bitcoin networks was embarrassing. As a solution, he proposed putting resources into building a decentralized exchange (DEX), to act as a trustless bridge between the two. DEX should be trustless, serverless and Uniswap-like Buterin’s plan calls for the DEX to be trustless and serverless, with a user experience very similar to Uniswap. Uniswap is a decentralized exchange that runs without an order book, instead relying on asset pairs…

Bitcoin Price Still Following Exact Pattern That Marked 2018’s $3,000 Bottom

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Over the past day or two, the price of Bitcoin has continued to show signs of strength, rallying as high as $6,800 on Tuesday afternoon (TradingView data) as global markets begin to show signs of recovery after weeks of downward price action. Related Reading: House Democrats Propose ‘Digital Dollar’ in Move Big For Bitcoin: Here’s Why As it stands, the price of the leading cryptocurrency sits at $6,600, up 73% from the $3,800 bottom and up over 20% in the past five days in and of themselves. While many have…

Bitcoin Price Still Following Exact Pattern That Marked 2018’s $3,000 Bottom

boss

Over the past day or two, the price of Bitcoin has continued to show signs of strength, rallying as high as $6,800 on Tuesday afternoon (TradingView data) as global markets begin to show signs of recovery after weeks of downward price action. Related Reading: House Democrats Propose ‘Digital Dollar’ in Move Big For Bitcoin: Here’s Why As it stands, the price of the leading cryptocurrency sits at $6,600, up 73% from the $3,800 bottom and up over 20% in the past five days in and of themselves. While many have…

Australian Securities Exchange Delays Switch to Blockchain Due to COVID-19

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The Australian Securities Exchange (ASX) has once again delayed its transition to the blockchain, due in part to uncertainty around the impact of the global COVID-19 pandemic. In an announcement published on March 25, ASX said it was replanning its blockchain implementation timetable in light of the unfolding crisis, as well as because of issues that were under consideration prior to the outbreak. In June, the exchange will therefore seek user input to establish a new go-live date — which until now had been set for April 2021. Pandemic-driven volatility…

As Trump Talks Trillions, Binance CEO Predicts $2T Bitcoin Market Cap

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After United States President Donald Trump first mooted a $1 trillion stimulus package for the U.S. economy in the wake of the coronavirus outbreak, people were shocked at what seemed like a gargantuan amount. As Cointelegraph reported a few days later on March 25, a bipartisan deal has been agreed for twice that figure and it suddenly seems far more tangible. Binance CEO Changpeng Zhao even tweeted that the new financial dialogue meant a $2 trillion market cap for Bitcoin could be considered “modest”. Will a devaluing U.S. Dollar push…