June 3, 2020

First Mover: ECB Stimulus May Offer Market Hope After Bitcoin Fails (Again) to Break $10K

June 3, 2020 boss

As bitcoin struggles to break out of the range it’s largely been stuck in for more than a month, some investors are looking ahead to Thursday’s European Central Bank meeting for fresh monetary stimulus that might underscore the cryptocurrency’s potential as an inflation hedge. Prices for bitcoin shot up 8% on Monday to a three-month high around $10,200, then quickly reversed on Tuesday, falling back to about $9,500. CoinDesk’s Daniel Cawrey reported that the price action may have been exacerbated by liquidations of derivatives trades on the Seychelles-based exchange BitMEX. You’re reading First Mover,…

Dow Futures Unstoppable and Traders are Getting Way Too Greedy

June 3, 2020 boss

Dow Jones Industrial Average (DJIA) stock market futures pushed higher on Wednesday. The Nasdaq is just inches away from reclaiming its all-time high in the backdrop of a global crisis. Traders are now getting ‘greedy’ according to the CNN fear and greed index – a notorious warning sign for a frothy market. Stocks continue their unstoppable rise higher, despite a backdrop of global recession, health crisis, and mass protests across America. Dow futures point to another 150 rise on Wednesday morning. Incredibly, the tech-heavy Nasdaq Composite index is within touching…

A $10,000 Bitcoin Retest Likely as Dollar Loses Its Charm

June 3, 2020 boss

Bitcoin repeatedly failed to hold its prices above $10,000 since February 2020. The cryptocurrency on Tuesday fell by more than $1,000 from its quarterly high above $10,400, logging another upside rejection above the $10K level. But a stark US dollar warning could send investors back to Bitcoin and other risky assets, helping it break and hold the $10K support. Bitcoin broke below $10,000 – all over again. The flagship cryptocurrency jumped the six-figure level on Tuesday, extending its move towards a new quarter-to-date high at $10,428. Nevertheless, traders used the…

Telos to Use Blockchain for Food Assistance Platform

June 3, 2020 boss

EOS-based blockchain platform Telos has announced a partnership with virtual card provider All_EBT to scale the firm’s service for food assistance programs. The partnership will see Telos’ blockchain used to facilitate payments between All_EBT’s stakeholders in food assistance and public welfare. All_EBT is backed by Draper Associates, EOS, and Facebook, and allows recipients of electronic benefit transfers — or EBT — to spend those benefits online. The firm’s website currently prompts users to join a waitlist. The firm previously won hackathons organized by Facebook and Y Combinator, and received the…

Hard Fork Sets Stage for Ethereum Classic’s Second Major Departure From Ethereum

June 3, 2020 boss

Trail partners Ethereum and Ethereum Classic are soon to split ways, highlighted by the latter’s successful “Phoenix” hard fork Sunday night. Executed at block 10,500,839 on May 31, the backwards-incompatible network upgrade makes Ethereum Classic fully compatible with Ethereum. That is, until the larger blockchain swaps its consensus algorithm in a network overhaul known as Eth 2.0 – tentatively scheduled for Q3 2020. The hard fork represents a major departure for Ethereum Classic, which is sticking with Proof-of-Work (PoW) while its sister chain moves to Proof-of-Stake (PoS) and sharding. Read…

The PS5 Desperately Needs to Copy This Xbox Series X Feature

June 3, 2020 boss

The PS5 may need its own version of Xbox Series X Smart Delivery in order to compete against the console. Price is one of the most important things to gamers buying next-gen consoles and Smart Delivery makes gaming more affordable. With rumors that the PS5 is going to be more expensive, a Smart Delivery copycat could be what the console needs to succeed. After truly and utterly trouncing the Xbox One’s sales by racking up an incredible 110.4 million PlayStation 4s sold (as of the last count) it may seem…

Why a Long-Time Bitcoin Proponent Thinks BTC Will Rally Over 3,000% in 5 Years

June 3, 2020 boss

Bitcoin remains below the crucial resistances of $10,500 and $14,000 but that hasn’t stopped investors from speculating as to where BTC will top in the upcoming bull run. One prominent executive and programmer in the space is speculating that a price of $300,000 is possible within the next five years. Here’s why he thinks so. Why Bitcoin Could Hit $300,000 by 2025 According to a Long-Time BTC Proponent Speaking to Bloomberg on June 1st, Blockstream CEO Adam Back says that he thinks Bitcoin will hit $300,000 within the next five…

Blockstream Launches Ventures Initiative to Grow Liquid’s Ecosystem

June 3, 2020 boss

Blockstream, the firm behind the Bitcoin (BTC) sidechains Liquid and Lightning Network, has launched its “Liquid Ventures Initiative,” which seeks to connect developers looking to build on the commercial sidechain with crypto investors. The announcement follows the completion of the first Liquid Demo Day, which saw participation from startups and developers from Hong Kong, Israel, Spain, Switzerland, Japan and the United States. The Liquid Ventures Initiative is backed by over twelve Bitcoin-centric venture capital firms and entrepreneurs — including Nogle, Seven Seas VC, Blockchain Capital, Castle Island Ventures, Digital Garage…