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Day: May 9, 2020
Here’s Why Altcoins Bouncing as Bitcoin Retraced From $10K Is Bullish
The price of Bitcoin (BTC), the top-ranked cryptocurrency by market capitalization, hit the psychological barrier of $10,000 but immediately rejected. Meanwhile, the sentiment is shifting from fear towards greed as the Crypto Fear & Greed Index is now above 50 for the first time in three months. However, altcoins have been showing weakness across the board. Investors are selling their altcoins to catch the Bitcoin train with the halving now less than three days away. Crypto market daily performance. Source: Coin360 Bitcoin hits the psychological level of $10,000 BTC USDT…
How to Build Sustainable Mobility With Blockchain?
Pursuit for improvement drives innovations in any sector, including transportation. The quest for efficient and fast traveled to the invention of trains and other mass transit services in the 19th century. The 20th century saw an urge for convenient travel among people, with the vehicle of their choice. This resulted in the proliferation of private-owned cars. Now, after 1.4 billion registered cars, 1200 million metric tons of carbon emissions per year, and countless hours spent in the traffic per day, people are in pursuit of more than efficient and convenient…
Bitcoin Gains Ground on Gold, Bolsters Claim as the Asset of Tomorrow
Is gold faltering as a safe haven? A Coinbase blog post from May 1 suggested that several months into the COVID-19 pandemic, gold’s market efficiency vis-à-vis Bitcoin (BTC) could be slipping. “Bitcoin and gold are fundamentally similar as scarce and globally accessible units of value,” the report noted, but recent “challenges” in the gold market “reveals Bitcoin’s distinct advantage over gold.” The event that provoked this observation was a market supply squeeze. As Coinbase recounted: “According to the LA Times on March 24, ‘The gold market in New York is…
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Award-Winning Filmmaker Torsten Hoffmann Launches Bitcoin Documentary Cryptopia
This week filmmaker Torsten Hoffmann launched the cryptocurrency-infused documentary “Cryptopia: Bitcoin, Blockchains and the Future of the Internet.” Cryptopia discusses the powerful economy and flourishing ideas that stemmed from Satoshi’s invention through the eyes of some of the industry’s well known movers and shakers. Cryptopia: Bitcoin, Blockchains and the Future of the Internet The three-time award-winning filmmaker Torsten Hoffmann is back again after his acclaimed film “Bitcoin: The End of Money As We Know It.” Hoffmann’s latest picture stars people like Andreas Antonopoulos, Roger Ver, Charlie Lee, Samson Mow, Preethi…
The CoinDesk 50: Bitmain, the Behemoth of Bitcoin Mining
Founded in 2013, the Beijing-based Bitmain Technology remains at the center of the crypto economy. With its flagship AntMiner bitcoin mining equipment still dominating the hardware market and its mining pools accounting for about a quarter of the bitcoin network’s computing power, it retains a uniquely powerful place in the ecosystem of by far the largest cryptocurrency and blockchain project. That’s not to say it isn’t also controversial. Its vocal support for a Bitcoin hard fork (Bitcoin Cash) in 2017, following contentious community disagreement, won the company, and its masterminds,…
Bitcoin Price Rejected At Bear Market Supply Zone, Rally To Resume After Retest of Demand
After the powerful rally unfolding across the crypto market over the last several weeks, Bitcoin price failed to breach cleanly above $10,000 and hold. The move pushed the first-ever cryptocurrency into a supply zone dating back to the start of the bear market where it was rejected. The failure will likely result in Bitcoin price returning to one of three demand zones, where the asset will confirm buyer interest before proceeding on a new post-halving bull run. Bitcoin Price Reaches Bear Market Supply Zone, Can It Finally Get Through? Bitcoin’s…
Bitcoin Is Outperforming Every Mainstream Asset Class in 2020
Data published by market research firm Fundstrat shows that Bitcoin (BTC) is the top-performing asset class of 2020 so far. The data, posted to Twitter by Fundstrat’s Thomas Lee, shows Bitcoin to have outperformed every other asset class by at least 19% — with BTC having gained 39% since the start of the year. 20-year U.S. treasures rank as the second-best performing asset with a 21.1% year-to-date (YTD) gain, followed by gold with 12.5%, and U.S. treasuries with 8.9%. Global government bonds and the Nasdaq increased by 1.8% and 1.7%…
The Market Perceives Positive Sentiment Heading Into the 2020 Bitcoin Halving
As Bitcoin (BTC) fast approaches its scheduled third halving, several metrics are now pointing toward positive market sentiment going into this most-anticipated event. The perpetual funding rate turns to positive territory, suggesting a positive market sentiment The perpetual funding rate serves as a useful indicator to gauge overall market sentiment. When the rate is positive, long positions periodically pay short positions and vice versa. Funding rates also tend to correlate with market sentiment, meaning that when the market is strongly bullish or bearish, funding rates tend to be positive or…