Day: April 18, 2020

Real Correlation? Bitcoin Price Pumps Follow US Fed QE Money Printing

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Bitcoin (BTC) price bull markets coincide with one specific macroeconomic trend — and the next may now be around the corner. In a Twitter debate on April 18, PlanB, the vocal analyst who created Bitcoin’s stock-to-flow price model, argued that the cryptocurrency benefitted from money printing. BTC waits as “QE infinity” passes $2T In particular, the United States Federal Reserve’s quantitative easing (QE) programs appeared to spark price improvements. “Very interesting that $1.5T 2013 QE3 coincides with 2013 bitcoin bull market,” one post reads.  “What will 2020 QE4 bring? $2T…

Last Time This Trend Transpired, Bitcoin Rallied 2,700%. It’s Back Yet Again

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Since 2017’s blow-off top at $20,000, investors have been wondering when Bitcoin would be thrust into its next bout of parabolic growth. After all, crypto investors are used to rounds of rapid growth, then brutal drawdowns. Related Reading: Crypto Tidbits: Bitcoin Loses $7k, Blockchain Layoffs, Ethereum DeFi Explodes But, a key indicator is showing that the same trend that precursed Bitcoin’s rally from triple digits to $20,000 has appeared once again. Last Time Bitcoin Did This, It Rallied 2,700% In 18 Months As first observed by a trader, Bitcoin is…

Crypto Scams on the Rise and Can Still Affect Bitcoin’s Price

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Bolstered by the new coronavirus pandemic, scams continue to be rampant in the cryptocurrency world. From malware to fake investment programs and even fake donations to health organizations, scammers are known for taking advantage of desperate times and desperate people. One of the most prominent scams in the industry, PlusToken, has come under the spotlight again after rumours emerged that the March crash was caused by its operators selling their stolen Bitcoin (BTC). According to research by Chainalysis, a blockchain analysis company, PlusToken did not cause the “Black Thursday” sell-off…

NewsBTC Articles Are Now Available for Reading and Ranking on Commun Social Network

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NewsBTC articles are now available for reading and discussion on Commun, a newly-launched blockchain-based social network. Those joining the NewsBTC community among three others are granted the starting amount of the community’s internal token on registering on the platform. Commun, a Reddit-like network which launched its mainnet at the end of 2019, serves as a web, Android, and iOS portal where users can form interest-based groups to share, read, watch, rank, and discuss content with like-minded people. The platform, comprised of decentralised autonomous communities (DACs), is the first Web-3 social…

Bitcoin Price is Showing 3 Textbook Technical Signs of a Severe Correction

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The Bitcoin price (BTC) has been consolidating in the $6,900 to $7,100 range throughout the past 36 hours, right below a heavy resistance level at $7,200. Typically, a large price movement occurs when BTC gets stuck in a tight range for a prolonged period of time. Crypto market daily performance. Source: Coin360 Currently, there are three technical factors that show Bitcoin is vulnerable to a large move down: deviation from the descending trendline, the emergence of a fractal resembling the 2019 top, and the increase of Tether supply. Deviation from…

Crypto Community Is Keeping Itself Entertained While on Coronavirus Lockdown

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Nationwide lockdowns have become commonplace in a number of countries across the world as the global community tries to curb the spread of the novel coronavirus. For weeks on end, people have had to hunker down in their homes and practice social distancing in order to “flatten the curve” of COVID-19’s spread. Setting aside the dire consequences this has had on the global economy, the situation has forced people to come up with a wide variety of ways to entertain themselves. While this lockdown may have brought a new meaning…