Day: May 21, 2020

Bitcoin and Ether Market Update: May 21, 2020

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Total crypto market cap lost $7.7 billion of its value since Monday morning and now stands at $261.9 billion. Top ten coins are all in red for the last 24 hours with Litecoin (LTC) and Bitcoin Cash (BCH) being the worst performers with 3.4 and 2.3 percent of losses respectively. At the time of writing Bitcoin (BTC) is trading at $9,498 on the Bitstamp daily chart, while Ether (ETH) is hovering around $209 and Ripple’s XRP remains at $0.201. BTC/USD Bitcoin continued to rise on Sunday, May 17, and ended…

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Dow Slogs Sideways as Covid-19 Hits Devastating Double Milestone

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The Dow Jones Industrial Average (DJIA) traded flat on Tuesday. Coronavirus cases hit 5 million worldwide with a record 100,000 new daily cases. Focus shifts to Thursday’s jobless claims data, which exceeded economists’ estimates – again. The Dow Jones recovered from a heavy premarket slide to slog sideways in early trading on Thursday. Investors remain nervous as the global coronavirus pandemic shows no signs of slowing down. The outbreak hit two devastating new milestones overnight: 5 million total worldwide cases. A record 100,000 new daily cases. This thing is not…

UAE Leverages Blockchain, Robotics and 3D Printing to Flatten Coronavirus Curve

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The United Arab Emirates (UAE), through in5, a startup incubator for nurturing businesses and ideas, is deploying blockchain, robotics, and 3D printing technologies to instigate the wellbeing and safety of its citizens amid the coronavirus (COVID-19) pandemic. Blockchain-enabled biometrics Liber Health, an in5 startup, is using a blockchain-powered biometrics platform for patient identification located in Dubai Internet City. It has been able to create a contactless IRIS identification initiative for recognizing patient data by leveraging on blockchain technology. This approach is safer than other biometric identification networks like fingerprint scanners, which…

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The Real Reason Why Ubisoft Sued Google and Apple Over Area F2

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Ubisoft sued both Apple and Google for the appearance of a ‘Rainbow Six: Siege clone’ on their mobile stores. The game in question, Area F2, has now been taken down. With refunds offered to anyone who paid money into the game. Why did Ubisoft go after the game if it wasn’t cutting into their business? Recently, Ubisoft sued both Apple and Google. They were attempting to remove the game Area F2. Apparently they felt that the app was a rip-off of Rainbow Six: Siege. In fairness, the comparison between the…

Bitcoin Drops Over 3% Despite Golden Cross and Bank Calls for More US Stimulus

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Bitcoin prices look to be struggling with buyer exhaustion, having put in a negative performance in the last 24 hours despite positive developments on both the macro and technical fronts. The top cryptocurrency by market value fell from $9,760 to $9,100 during Wednesday’s U.S. trading hours, even though major investment banks like JP Morgan and Goldman Sachs called for an increase in the size of the inflation-boosting government bond purchase programs run by the Federal Reserve and other major central banks. Bitcoin is increasingly eyed as an investment alternative that isn’t…

These 3 Trends Show There’s Downside Ahead for Bitcoin, Even After 5% Drop

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After holding in the high-$9,000s for days on end, Bitcoin recently exhibited some weakness uncharacteristic to the recent uptrend. The cryptocurrency fell from the $9,800 support level to $9,100 in a move that liquidated $40 million, with BTC plunging on fears of Satoshi Nakamoto liquidating his coins. Bitcoin price chart from TradingView.com. Chart shows the cryptocurrency’s Wednesday crash on the back of speculation regarding Satoshi Nakamoto’s BTC holdings. Approximately 50% of the drop has since been recovered, with Bitcoin now trading at $9,475 as of the time of this article’s writing.…

Bitcoin Moved From 2009-Dated Wallet, but It May Not Be Satoshi Nakamoto

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A Bitcoin wallet from 2009 made its first transfers in over 11 years, sending $400,000 worth of BTC to an exchange. While the crypto-community hailed the return of Satoshi, some points show it is unlikely to be Bitcoin’s mysterious creator.  Is Satoshi Moving BTC? A tweet by WhalePanda, a popular account that tracks crypto movements from prominent wallets, said late on May 20 that 50 BTC moved from a 2009-dated block. The coins are part of the so-called “Satoshi Generation,” meaning the earliest-ever records of mined blocks and bitcoin when Satoshi…

People Are Removing the Most Bitcoin From Exchanges Since 2018 Bottom

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Bitcoin (BTC) is failing to retake $10,000 due to a fresh wave of miner selling, fresh data suggests ten days after the halving. Compiled by monitoring resource CryptoQuant, the figures show that over the past five days, combined outflows from BTC mining pools spiked 600% — from 1,066 BTC to 7,426 BTC on May 20.  Bitcoin miners sell into $10,000 The change mimics that seen in the week before the halving on May 11, when miner outflows increased from around 2,100 BTC to a high of nearly 5,000 BTC on…