June 7, 2020

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…

How Blockchain Technology Can Help Fighting Against COVID-19

June 7, 2020 boss

Many financial and human resources are being deployed in the effort to fight the ongoing COVID-19 pandemic. Technologies are also being used in this fight: artificial intelligence for research, 5G to increase information transmission speed and many others. Blockchain is not being left out of this fight, as it now plays an important role in helping institutions and governments around the world respond to COVID-19, and is currently being integrated into healthcare and food supply chains. How blockchain platforms can help defeat a pandemic Blockchain platforms can be used to…

Over $10 Million Liquidated as Bitcoin Surges 5% Higher Ahead of Weekly Close

June 7, 2020 boss

After plunging on Sunday morning, Bitcoin has mounted a strong comeback over the past two hours that has seen it reverse the earlier losses. In the past 30 minutes, the cryptocurrency has rallied from $9,540 to a high of $9,800 — a 2.7% move. And since the daily lows of ~$9,370, the asset is up just shy of 5%. The rally to $9,800 comes just hours ahead of the close of BTC’s weekly chart candle. Bitcoin price chart over the past day from TradingView.com. Traders were largely caught off guard…

Did the U.S. Just Avert a Housing Market Crisis?

June 7, 2020 boss

The U.S. housing market may look up as employment numbers indicate a recovery. Job postings have started ticking up. Home demand remains strong. The housing market should have been in tatters given the massive spike in unemployment in recent months, but that hasn’t been the case so far. In April, the market held its ground, and prices rose at a stronger pace than March as per CoreLogic. And with the latest employment numbers turning out to be way better than expected, there’s a chance that real estate may have avoided…

Ransomware Attack Exposes 1.5TB of Stolen Aerospace Data

June 7, 2020 boss

ST Engineering Aerospace’s US subsidiary suffered a ransomware attack that managed to extract about 1.5TB of sensitive data from the firm and its partners. According to an article published by The Straits Times on June 6, the Singapore-based company was allegedly attacked by the well-known ransomware gang Maze in March, citing an analysis by cybersecurity firm, Cyfirma. The report details that the data stolen by the criminals is related to contract details with various government, organizations, and airlines across the globe. No additional details were provided on its content. Undetectable…

3 Reasons Why Airline Stocks Are Still a Sell Despite Recovery

June 7, 2020 boss

The major U.S. airlines have seen their stocks rise by double digits in under three weeks. Millennial investors on Robinhood now love American Airlines nearly as much as Tesla. The operating environment for carriers has improved slightly but not enough to justify an investment. A modest improvement in passenger traffic has seen the major airline stocks stage a recovery from their May lows. Since May 15, the stocks of the four largest U.S. airlines have all gone up by at least 25%. American Airlines (NASDAQ: AAL) has appreciated by around…

Blockchain Will Lead Digital Globalization Says Wanxiang Rep

June 7, 2020 boss

Dr. Xiao Feng, the Vice Chairman of investment company China Wanxiang Holdings, attended the 7th Global Investment and M&A Summit in Shanghai, according to local news on June 5. Dr. Xiao’s keynote on digital economic reform revealed speculation that globalization will migrate from the physical to the digital world. He believes blockchain and other disruptive technologies will be the tools by which we realize this digital globalization. He explained that: “Blockchain is a digital trust mechanism. Because of its characteristics of irrevocability, delectability and immutability, when we move these data…

These 2 Bitcoin On-Chain Metrics Suggest the Post-Halving Dip Has Ended

June 7, 2020 boss

On-chain data from blockchain analytics firm CryptoQuant suggest that miners are currently holding on to their mined BTC, a sign that may indicate a continuing recovery for the Bitcoin price given a lack of selling pressure from big mining operations. The Miners’ Position Index (MPI) provides insight into how miners shifting their BTC positions can impact the asset’s price action. An MPI reading above 2 suggests miners are selling their BTC after mining, while a negative value shows they’re avoiding selling as much as possible in favor of accumulation. Miners’…