June 4, 2020

Global Macro Investor: Explosive Ethereum Upmove Above $300 Clears Path to $500 ETH

June 4, 2020 boss

Long positions in the second-largest cryptocurrency by market cap have gone parabolic, alongside the asset’s best use case. Bullish sentiment is picking up, and according to a global macro investor with over 25 years of market experience, Etheruem‘s chart looks to be on the”verge” of an “explosive upmove.” The analyst projects a target of $500 per ETH “minimum” once the asset clears resistance at $300. But what catalysts are ahead that could push the asset through the critical resistance level? Macro Investor: Ethereum on the Verge of Explosive Upmove, But…

Both NXT and Algorand Claim to Have Developed First Proof-of-Stake Chain

June 4, 2020 boss

Cryptocurrency Algorand (ALGO) claims in its promotional materials to be the first proof-of-stake, or PoS, blockchain, but NXT lead developer Lior Yaffe claimed that his project was first. In a June 3 tweet, Yaffe accused Algorand’s of misleading the cryptocurrency community for marketing purposes, by falsely claiming to be the first PoS blockchain. He wrote: “The algorand marketing machine has misleadingly crowned themselves as the “First Pure Proof of Stake Blockchain.” A bold statement considering that NXT is the first project to introduce a working PoS blockchain after Peercoin pioneered…

Economists Rush to Declare End to the Recession – Here’s Why They’re Wrong

June 4, 2020 boss

Better-than-expected jobs numbers and signs of economic recovery are leading some to declare the worst is over. We’re still far from normal—and economic data still show we’re worse off than the Great Depression in many areas. Here’s why the recession may just be getting started. Wall Street loves setting expectations at levels that are easy to beat. It’s part of the game. That game has now extended to economic data as we battle a recession. Wall Street built up expectations for over 8 million job losses in May. When the…

Jake Paul Gets Charged for Looting – But Privilege Rescues Him from Justice

June 4, 2020 boss

Jake Paul was charged after he was caught looting in an Arizona mall. Don’t get too excited – he was only charged with criminal trespass. Given how minor the charge is, it seems that justice isn’t exactly swift. Jake Paul fought the law, and the law won. Well, maybe it was actually a draw. The YouTube “influencer” has been charged with one count of criminal trespass and another count of unlawful assembly after he participated in an Arizona looting spree. While this seems like a step in the right direction,…

Ethereum Community Debates Raising the Block Size Limit, Once Again

June 4, 2020 boss

Continuing congestion on the Ethereum (ETH) network has led some developers and community members to call for increasing the gas limit, which defines its transaction throughput. Data from Etherscan shows that the average gas price rose more than three-fold since early May, with an average of about 30 Gwei in the last few days. Source: Etherscan.io According to EthGasStation, this results in an average of a $0.16 fee to send a simple ETH transaction, which uses the least gas possible. ERC-20 token transfers and smart contract calls can cost…

It’s Time to Admit the Economy Won’t See a V-Shaped Recovery

June 4, 2020 boss

Unemployment data this week is anything but promising, suggesting a V-shaped economic recovery is a pipe dream. Continuing jobless claims show people aren’t being rehired. Salary cuts across the board mean even those who have a job have less to spend. U.S. jobless claims fell for a ninth straight week on Thursday, but cheers about a drop in unemployment appear premature. While the worst may be behind us, that doesn’t necessarily mean the U.S. economy is on pace for a quick return to growth. Predictions about the shape of the U.S.…

USD Still King as BTC and CBDCs Mount Challenge

June 4, 2020 boss

The global monetary system has been centered around the United States dollar since at least the end of World War II when the 1944 Bretton Woods Agreement formalized the greenback’s ascent to unchallenged dominance. Control over the world’s reserve currency came hand in hand with a boost to the nation’s already enormous geopolitical influence, as well as the ability to run huge deficits at low cost. Today, a growing chorus of experts believe that the dollar’s hegemony might be in a decline. America’s diminishing share of world trade, the expansion…

Bitcoin and Gold Will Be Unaffected by 2020 Market Tumult: Bloomberg Outlook

June 4, 2020 boss

Despite the current market uncertainties some pundits point to gold and Bitcoin (BTC) as suitable hedges against future downturns. BTC remains of the best performing assets, maintaining its decoupling from mainstream stocks. Bitcoin and Gold as Hedge Against Uncertainties According to June 2020 Bloomberg Commodity Outlook, Bitcoin and gold will remain unaffected by any significant shakeups in the mainstream stock market arena. Numerous analysts point to both assets as safe-havens against upheavals in the broader financial sector. An excerpt from the Bloomberg market outlook reads: “Among the few assets up…

Crypto Trading, A Guide For Beginners – Blockchain News, Opinion and Jobs

June 4, 2020 boss

Crypto Trading, A Guide For Beginners In the world that we live in today, crypto trading continues to rise. This trading type involves speculating on the movements of the price through the CFD trading account, selling, or buying underlying coins through the exchange. Here, there are leveraged products wherein you must make a small deposit called margin. With this, you can have full access to its underlying market. You can calculate your loss or profit based on the size of your position. Therefore, leverage can magnify both losses and profits. …