June 7, 2020

Investors Turn Bullish as Bitcoin Exchange Reserves Drop to 1-Year Low

June 7, 2020 boss

According to data from glassnode, Bitcoin reserves on cryptocurrency exchanges fell to a 12-month low. This coincides with a reported mass outflow of BTC from Coinbase. On June 6, various media outlets reported that Coinbase may sell its blockchain intelligence arm Coinbase Analytics to the Internal Revenue Service (IRS) and the Drug Enforcement Agency (DEA). Following the reports, there was a surge in BTC outflow from the exchange. Investors withdraw Bitcoin as a precautionary measure Like any other regulated exchange, Coinbase holds a trove of user data due to its…

Coinbase’s Intention to Sell Blockchain Analytics Software to US Government Watchdogs Created Backlash from Crypto Community

June 7, 2020 boss

Leading American cryptocurrency exchange, Coinbase is planning to sell its blockchain analytics software called “Coinbase Analytics” to the US Drug Enforcement Administration (DEA) and the Internal Revenue Service (IRS). This decision is not sinking in well with the crypto community because the software will offer identity attribution for domestic and international cryptocurrency addresses to the US government agencies. Coinbase analytics usage The public records show this deal has not yet been materialized, despite the interest of both the IRS and DEA. According to the document, the “Coinbase Analytics (CA) cryptocurrency…

Bitcoin’s Quiet Progress Is Pointing Toward a Better Future

June 7, 2020 boss

The tensions that have spilled over into the streets of U.S. cities this week are a heartbreaking expression of a long-standing problem that has the whole world in its grip. Inequality is not specific to the U.S. Nor is it limited to a handful of relatively well-off geographies. It stratifies societies within borders, trapping the majority within a narrow income band while markets pour wealth into the accounts of the few. It also divides the haves from the have-nots on a spectacularly global scale, relegating some countries to the back…

Bitcoin’s Quiet Progress Is Pointing Toward a Better Future

June 7, 2020 boss

7 Companies You Should Renounce If You Support Black Lives Matter

June 7, 2020 boss

Many companies have publicly endorsed Black Lives Matter after George Floyd’s death. Not all of these firms have helped the cause. Some have made it worse, including these seven companies. Organizations are making a lot of noise in support of the Black Lives Matter movement. It suddenly seems as though every major firm in America has their fist in the air for George Floyd. But in many cases, it’s not a fist at all. It’s an open palm, waiting for us to drop cash into their suddenly ‘woke’ brand. AOC…

The Stock Market Is Trading in a Parallel Universe – That’s OK…Until It’s Not

June 7, 2020 boss

The stock market rally is, by all measures, completely absurd. Traders have become drunk on stimulus and it’s causing irrational investing. If the free money faucet turns off, the stock market is in for a rude awakening. Is there anyone out there who believes the stock market’s impressive rally is somehow rooted in reality? Civil unrest across the U.S. has further complicated economic reopening plans, unemployment data show many of the job losses are likely permanent, and many of those who managed to hold on to their jobs are seeing…

Bloomberg BTC Bombshell, Coinbase Fury, Ether vs. Tether: Hodler’s Digest, June 1–7

June 7, 2020 boss

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Forget $10,000, Bitcoin’s $12,000 breakout will catch everyone off guard Once again this week, BTC suddenly soared into five figures — hitting $10,380 soon after Donald Trump mobilized police and the National Guard to disperse protests outside the White House. The surge helped break a…

Bitcoin Is at the Apex of a Key Pattern — the Breakout Will Decide BTC’s Trend

June 7, 2020 boss

Bitcoin’s price action has been rather volatile over the past two weeks, with the asset whipsawing between the $8,000s and $10,000s. In the past week alone there was approximately $250 million worth of position liquidations on BitMEX alone due to the volatility, according to data shared by crypto derivatives tracker Skew.com. Yet the price action has actually been consolidation from a macro perspective. Bitcoin is now approaching the apex of a crucial triangle pattern that has contained Bitcoin’s price action for the past few months. Its breakout will most likely…