April 27, 2020

BTC Price Could Follow For 2 Reasons

April 27, 2020 boss

Now just over two weeks out is 2020’s Bitcoin block reward reduction, also known as a “halving.” It’s an event that has become the topic of conversation for many watching the cryptocurrency space. The halving has become so hyped, in fact, that an extensive article on the subject was recently featured on Bloomberg’s Terminal. With the strong increase in popularity surrounding the event, analysts have been wondering if BTC’s price will follow suit by similarly rallying higher. Related Reading: Crypto Tidbits: Bitcoin Surges to $7,800, More U.S. Stimulus, Tether Erupts…

Bitfinex’s New Social Network Seeks to Give Traders an Edge

April 27, 2020 boss

Catering to the social realm of the digital sphere, crypto exchange, Bitfinex, announced its own social network, which opened today. On the exchange’s social network, called Bitfinex Pulse, customers can immerse themselves in the energetic world of trading, collaborating on concepts, and other market related activities, said a statement provided to Cointelegraph. The product looks to give users a leg up against the rest of the crypto trading world as they communicate with their fellow Bitfinex compatriots. Different from other social trading platforms Bitifinex Pulse is not first to…

Users’ Funds Are Safe Following Reported Etana Custody Breach

April 27, 2020 boss

Etana Custody, a custody firm that provides fiat funding services to the major cryptocurrency exchange Kraken, was reportedly breached on April 18. Despite an unauthorized party infiltrating Etana’s system, a spokesperson from the company indicated to reporters that no client funds were impacted. A widely quoted memo from Etana Custody states that its “client user interface was accessed by an unauthorized external party” on April 18. The document emphasizes that “no client assets or securities, including fiat or digital currencies were affected and no unauthorized withdrawals or transfers were made.”…

BTC Annual Inflation Rate Almost 50% of World Average After Halving

April 27, 2020 boss

Once the Bitcoin rewards halving goes through on May 12, the annual inflation rate of the cryptocurrency will be about half of the global average. As crypto analyst Mati Greenspan noted on Twitter on April 26, the annual inflation of Bitcoin (BTC) will fall from 3.65% at the time of press to 1.8% once the halving happens in 15 days. The global annual inflation rate for 2019 was 3.41%, and is approximately 3.56% so far for 2020. In just 15 days, the annual inflation of #bitcoin will go from 3.65%…

Ripple (XRP) Bulls Aim Big After Recent Close Above Key Resistance

April 27, 2020 boss

Ripple is trading nicely in a bullish zone above $0.1950 against the US Dollar. XRP price is likely to accelerate higher above the $0.2000 and $0.2020 resistance levels. Ripple price is showing signs of more upsides above $0.2000 against the US dollar. A key support is forming near the $0.1920 pivot level. There is a major bullish trend line forming with support near $0.1955 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to continue higher above $0.2000 as long as it is…

Ethereum Trading Near Make-or-Break Levels: Key Supports To Watch

April 27, 2020 boss

Ethereum is still struggling to clear the main $200 resistance against the US Dollar. ETH could start a short term downside correction if it continues to struggle near $200. Ethereum is currently trading in a range below the $200 and $202 resistance levels. The price is showing a few bearish signs below the $200 pivot level. There is a major bullish trend line forming with support near $194 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair could either rally above $200 or start a downside correction…