Day: May 24, 2020

Coldplay Bassist Invests in Bitcoin (BTC) Trading App

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Popular British rock band Coldplay’s bassist, Guy Berryman recently funded a Bitcoin (BTC) trading platform called Zumo. Berryman is one of the several investors that have invested in the Edinburgh-based fintech startup that aims to help ordinary investors purchase cryptocurrencies. This, according to a report by Edinburgh News. Coldplay Star Invests in Bitcoin Platform Zumo The rise in the popularity of digital currencies continues to garner attention from pop-culture icons. In the latest of such developments, the British music act Coldplay’s bass guitarist has invested in the Zumo mobile wallet…

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3 Reasons Why COVID-19 Might Keep Your Jobs Longer Than You Think

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Many lost jobs in the U.S. are unlikely to recover due to disruptions in supply chains and consumer demand. A study from the University of Chicago suggests that even a vaccine may not aid economic recovery. Nobel laureate Joseph Stiglitz predicts double-digit unemployment until 2022. When the U.S. recovers from the coronavirus pandemic and reopens the economy, you might not be getting your jobs back as soon as you’d like. Various studies show three ongoing themes: a medium-term demand problem, a large percentage of jobless claims will likely become permanent,…

Bitcoin Price Drops to $8,840 — Key Metrics Signal BTC May Correct Further

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Within the last hour Bitcoin (BTC) price dropped to $8,840. The drop came with less than 8 hours left before the weekly close. A confluence of miners selling more BTC than they mine, Bitcoin recording 6 consecutive lower highs, and the retest of the $8,800 support leaves BTC vulnerable to a severe pullback. Six consecutive lower highs since June 2019 As shown on the daily chart, since June 19 Bitcoin has recorded six consecutive lower highs. The price rejected at $14,000, $13,300, $12,300, $10,600, $10,500, and $10,000, making every local…

The Original Xbox Source Code Has Leaked – And That’s Great for Microsoft

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The source code for the OG Xbox has been leaked. This leak could potentially help emulator developers. At this stage, Microsoft should just make the source code open source. It’s finally happened. The source code for Microsoft’s original Xbox has been leaked. At this point, an enterprising individual could basically create their own OG Xbox at home. Although it would probably be difficult. It’s tough to know how Microsoft should feel about this. On the one hand, any leaks are a sign of bad security. After all, if someone can…

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Grayscale Accumulates 34% of New BTC as Weekly Investments Tag $30 Million

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Grayscale Investments, a crypto investment fund manager and subsidiary of Barry Silbert’s Digital Currency Group, is estimated to have purchased up to one-third of all newly minted Bitcoin during the past three months amid the run-up to the block reward halving. The announcement comes as average weekly investments into Grayscale’s Bitcoin Investment Trust, or BIT, reached $29.9 million over the first quarter of 2020. In response to a tweet publicizing the figures, Grayscale founder Barry Silbert stated: “just wait until you see Q2.” The average weekly investment into the trust…

Examine the Bitcoin First Difficulty Adjustment Post 2020 Halving

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The third Bitcoin (BTC) halving has settled, and the Bitcoin network has just experienced its first difficulty adjustment post third halving. The difficulty has decreased from 16.1 trillion to 15.14 trillion, which is about a 6% downward adjustment, providing miners who have survived so far with some relief.  Bitcoin network hash rate experienced a significant decline post-halving It is important to recognize that the network hash rate cannot be directly observed; rather, it needs to be calculated from the average block production time and the difficulty level. Based on the…

Top 5 Cryptocurrencies to Watch This Week: BTC, XTZ, ADA, LINK, ETC

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If Bitcoin remains in an uptrend, these altcoins are likely to outperform the other major cryptocurrencies this week. The institutional interest in Bitcoin (BTC) has increased in the past few months, according to data from Grayscale Bitcoin Trust. If the trend continues at the same pace, by March 2021, GBTC would have purchased 75% of the newly mined Bitcoin during the period. By that time, its total holding of the top-ranked cryptocurrency on CoinMarketCap would increase to 3% of the total circulating supply. If this happens, it could be a…