June 3, 2020

Bitcoin Holds Strong at $9,300 But Turns Vulnerable For Bigger Decline

June 3, 2020 boss

Bitcoin is down more than 6% and it trimmed most its gains above $10,000 against the US Dollar. BTC price is currently holding the key uptrend support at $9,300, but it is vulnerable to a larger decline. Bitcoin failed to continue higher and declined sharply below the $10,000 pivot level. The price broke many supports near the $9,740 and $9,500 levels. There was a break below a key bullish trend line with support near $9,735 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is…

Crypto is More Than Just ‘Protest’ Money

June 3, 2020 boss

Ethereum co-founder Vitalik Buterin says the current financial crisis is very different to the 2008 Global Financial Crisis that Bitcoin emerged from — and that the crypto community needs to adjust its thinking accordingly. Writing in a Twitter thread on June 2, Buterin said that some of Bitcoin’s most dearly held narratives had not been borne out this time around. Pandemic and protests The Ethereum (ETH) co-founder said 2020 is not a repeat of the financial crisis in 2008/2009. Rather, he tweeted, it is a “virus crisis”, a crisis of…

Bitcoin Cash Vietnam-Based Fiat-to-Crypto Trading Support Added to Bvnex Exchange

June 3, 2020 boss

This week the trading platform Bvnex Exchange announced the support of bitcoin cash on the Vietnam-based fiat-crypto trading platform. The support gives the Vietnamese market and other regions in Asia, the ability to trade bitcoin cash for VNDT- Vietnam dong. On June 2, 2020, the crypto exchange Bvnex listed bitcoin cash on the cryptocurrency trading platform with the VNDT- Vietnam dong. The move brings the peer-to-peer cryptocurrency BCH to the Vietnamese market and surrounding areas in Asia. The official launch of VNDT with a myriad of other digital assets hosted…

Crisis Will Push BTC to $300K Even Without Institutions

June 3, 2020 boss

Blockstream’s Adam Back says that unlimited money printing will drive retail investors towards Bitcoin and push the price to $300,000 within five years. In an interview with Bloomberg — in which he once again denied he was Bitcoin (BTC) creator Satoshi Nakamoto — Back outlined his thinking behind the sky-high price prediction. The cypherpunk OG — who was cited in the Bitcoin White Paper — added that BTC may not need the long-awaited flood of institutional money to push it into a bull run. “It might not require additional institutional…

Ethereum Is Poised to Surge Above $300 By the End of June, Top Trader Asserts

June 3, 2020 boss

As of June 1st, Ethereum was up 25% in the past week alone. But right on cue, the cryptocurrency market saw a harsh correction on Tuesday morning that wiped out the gains seen on Monday. Bitcoin crashed $1,500 in three minutes on BitMEX, while other cryptocurrencies such as ETH experienced losses in their own markets. This was a drop that took the wind out of the cryptocurrency market’s proverbial sails. Related Reading: Crypto Tidbits: Bitcoin Nears $10k, Goldman Sachs Talks Cryptocurrency, Chinese Yuan Slumps John Bollinger, a prominent technical analyst known…

Capitulation by Unknown Miner ‘Caused the Dip,’ Says CryptoQuant CEO

June 3, 2020 boss

According to Ki Young Ju, CEO of CryptoQuant, capitulation by an unknown mining pool was responsible for the latest market dip. The miner who has produced 51 blocks over the past four days may be capitulating, reports Ki Young Ju. The 51 blocks produced by the mining pool came with a reward of 637.5 BTC, 9% of the total over that time period. Unknown Miner: Number & Percent of Blocks Mined. Source: blockchain.com. This miner sells only when price is high Meanwhile, since May 20th (but not including today) the…

Capitulation by Unknown Miner ‘Caused the Dip,’ Says CryptoQuant CEO

June 3, 2020 boss