May 19, 2020

Nasdaq to Reportedly Tighten IPO Rules for Chinese Firms, Crypto Potentially Affected

May 19, 2020 boss

Nasdaq, the world’s second-largest stock exchange, is going to introduce new restrictions on initial public offerings (IPOs) to prevent smaller Chinese companies from getting listed, a recent Reuters report citing anonymous sources suggests. Chinese IPO seekers tend to lack accounting transparency and have “close ties to powerful insiders,” Reuters’ sources claim, which is why the new rules will reportedly set out a minimum value on the size of IPOs for the first time on Nasdaq. Specifically, the exchange might require companies “from some countries, including China”, to raise at least $25…

Uniswap V2 Launches With Increased Security, But It Is Still Expensive

May 19, 2020 boss

The second iteration of the Ethereum decentralized exchange Uniswap V2 exchange was launched on May 18, which follows a March 23 announcement that placed its launch in Q2 2020. A blog post written by the Uniswap team details the steps taken to transition to the new platform. Uniswap V1 will continue to exist as it cannot be shutdown like, for example, the old version of MakerDAO. Nevertheless, the team has set up an interface to migrate liquidity from V1 to V2. The platform relies on users committing capital in liquidity…

Square Cash App Introduces Automatic Recurring Bitcoin Buys

May 19, 2020 boss

Square’s Cash App recently added a new feature that will enable automatic recurring Bitcoin purchases on its platform. Also, users can now change their display to satoshi on the Cash App platform. Stacking Sats Frequently on Cash App The CEO of Twitter and payments platform Square, Jack Dorsey, announced the news of the added feature via a tweet on Monday (May 18, 2020). According to Dorsey, users can now conduct buy bitcoin at any frequency they choose, either bi-weekly, weekly, or daily, with a minimum of $10. Also, Cash App…

Bitcoin’s Impending Golden Cross May Bolster Bulls: Analysts

May 19, 2020 boss

A widely tracked bitcoin price indicator is about to turn bullish – potentially accelerating the recent uptrend of the top cryptocurrency by market value. The 50-day moving average (MA) of bitcoin’s price looks set to cross above the 200-day MA within two to three days. The resulting “golden crossover,” a long-term bull market indicator, would be the first since Feb. 18 and only the seventh in bitcoin’s lifetime, as per CoinDesk’s Bitcoin Price Index. Daily chart (2020) “The golden crossover will catch the attention of classical trend followers,” said Su…

Bitcoin Struggles to Find Buyers Near $10K, Risks $2,000 Price Correction

May 19, 2020 boss

Bitcoin risks a $2,000 price correction as bulls continuously fail to penetrate $10,000-levels. The downside sentiment takes cues from a popular technical indicator, dubbed as Triple Top. The reversal pattern shows that bitcoin is no longer rallying – and is struggling to find buyers near the $10K area. Almost all the leading Bitcoin technical indicators have flipped to bullish after the cryptocurrency’s 150 percent price rally from its March lows. Nevertheless, a little-known yet historically accurate indicator paints a disputing scenario altogether. The “Triple Top” chart pattern on Bitcoin long-term…

Bitcoin Price Stuck Sideways But Another $10K Retest May Trap Bears

May 19, 2020 boss

The price of Bitcoin (BTC), the top-ranked cryptocurrency by market capitalization, has been hovering below the psychological barrier of $10,000. The halving didn’t give the market what they expected as the majority was anticipating a further decline in the price post-halving. What’s next for the crypto markets? What can be expected from the price of Bitcoin if $10,000 is broken to the upside? Crypto market daily performance. Source: Coin360 The price of Bitcoin stabilizing in a wide range BTC/USD 1-day chart. Source: TradingView The price of Bitcoin has been hovering…

Advances in Blockchain Drives Banks Toward Digital Currencies, Says Bank of Korea

May 19, 2020 boss

South Korea’s central bank, the Bank of Korea, has conducted new research and analysis on the progress of central bank digital currencies — or CBDCs — around the world. The bank released its “Overseas CBDC Progress Report” on May 18, in which the institution analyzed the CBDC projects of 14 central banks. New tech is a catalysts for CBDC projects The bank found that recent advances in payment settlements, decentralized ledger technology and the sharp declines in cash use are the main factors driving central banks to research and develop…

Will Bitcoin Price Plunge Again as US-China Trade War Reignites?

May 19, 2020 boss

The trade war between the United States and China began in January 2018. When tariffs were imposed on Chinese goods in July of the same year, the price of Bitcoin (BTC) plunged 31% from $8,487 to $6,000. Now the U.S. and China are on the verge of reigniting a new trade war as the two nations battle over the origin of the coronavirus. U.S. President Donald Trump recently warned that the signed phase one trade deal “doesn’t feel the same to me,” expressing his intent to walk away from it.…