Day: July 9, 2020

Is Dogecoin Really a Signal of ‘Altcoin Season’? Maybe… But Traders Should Proceed with Caution – Blockchain News, Opinion, TV and Jobs

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by Jay Hao “Let’s all get rich!” What a provocative sentence. Yet that short video on TikTok managed to double the price of Dogecoin (DOGE) in just three days. Thanks to the popularity of DOGE, the ‘altcoin’ keyword is about to peak on Google Trends again. So, what does this mean? ~ Advertisement ~ Some people are saying that: “…the bull market for altcoins is here.” Some KOLs from China are even spreading the saying that “…Dogecoin is a bull market engine.” People around me know that I always stay…

Bitcoin and Ether Market Update July 9, 2020

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Total crypto market cap added $14.6 billion to its value since Monday morning and now stands at $276 billion. Top ten coins are mostly in green for the last 24 hours with Crypto.com Coin (CRO) leading the pack with 3.6 percent of gains while Cardano (ADA) lost 6.3 percent of its value. At the time of writing bitcoin (BTC) is trading at $9,400 on the Bitstamp daily chart, while ether (ETH) moved up to $246 and Ripple’s XRP skyrocketed to $0.204 BTC/USD Bitcoin closed the trading session on Sunday, July…

Bitcoin Option Traders Bet on Bullish Move Following Volatility Squeeze

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While bitcoin has gained 3% so far this week, the overall trading environment remains dull with volatility hovering at multi-year lows.  Ten-day realized volatility, a historical metric, is now at just 20%, the lowest level for two years. That’s “a low that’s only preceded in Sep & Oct 2018,” the Singapore-based quantitative trading firm QCP Capital said on its Telegram channel.  Back in the autumn of 2018, the low-volatility consolidation ended with a big drop to below $6,000. This time, though, options traders are anticipating a breakout on the higher…

Forex Analyst Explains Why Chainlink Price Could Surge 80% Higher

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Chainlink’s LINK token is amid a “full-blown parabolic advance,” according to forex analyst Cole Garner. The on-chain data investigator mentioned a string of technical and fundamental indicators that hint further gains for the altcoin. The analogy appeared as LINK climbed to its lifetime high against Bitcoin on Wednesday. LINK, an altcoin powering the Chainlink’s decentralized oracle network, is beating its top rival Bitcoin in terms of exchange rates. The twelfth-largest cryptocurrency established its all-time high at 69,415 sats this Wednesday, a move that brought its year-to-date returns up by 182.69…

Volvo Cars Invests in London-based Blockchain Firm to Reduce Carbon Dioxide Footprint

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Volvo Cars, a leading Swedish car manufacturer, has invested in a London-based blockchain company majoring in industrial supply chains. It sealed the deal through its venture capital investment arm called the Volvo Cars Tech Fund.  Volvo’s appetite for blockchain Volvo has been a trendsetter when it comes to blockchain technology usage as it utilizes it in tracing cobalt required for making electric cars’ batteries.  The company intends to further stamp its authority by investing in blockchain company, Circulor, as the cutting-edge technology will not only be used in its cars’…

Stocks Are Soaring, Time to Short Bitcoin? – Blockchain News, Opinion, TV and Jobs

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by Jay Hao, When I woke up earlier this week, I received many messages from my friends, who told me, “Stocks have skyrocketed. Can we short Bitcoin?” Then I opened my Bloomberg and saw the following chart. The Shanghai Shenzhen CSI 300 Index has reached its highest level in nearly a year. And the economic recovery in mainland China has driven Hong Kong stocks to rise, with the Hong Kong Hang Seng Index reaching a new high since April. Even Nasdaq has reached a record high. This is really crazy,…

Malaysian Regulator’s Shariah Advisory Council Allows Digital Asset Trading

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In a landmark announcement, Securities Commission Malaysia’s Shariah Advisory Council declared that digital assets trading was permissible. The Malaysian Shariah Advisory Council is the authority that oversees the implementation of Islamic laws in the operation of Islamic Financial Institutions. Securities Commission chairman Datuk Syed Zaid Albar made the announcement during an online conference Invest Malaysia 2020 on July 7, stating: “The SC Shariah Advisory Council has resolved that in principle, it is permissible to invest and trade in digital currencies and tokens on registered digital asset exchanges.” A way forward…

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Bitcoin Gold Copycat Rally ‘Just Started’ Amid Worries of March Repeat

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Bitcoin (BTC) is preparing to copy gold as it aims for all-time highs, according to an exchange amid fresh warnings that a correction is due. In a tweet on July 9, Latoken highlighted the increasingly “correlated” relationship between the precious metal and BTC. Bitcoin-gold correlation increasing? After XAU/USD topped $1,800 for the first time since 2011 this week, BTC/USD should now follow suit, it argued. “#Gold hits 9-year high, while #Bitcoin’s rally has just started. #BTC and gold have been growing correlated in recent times,” it summarized. At press time, gold…

Binance At Last Confirms Autumn 2020 Launch of UK Platform

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Binance first announced plans for a UK crypto trading platform in mid-June. The company has now confirmed an Autumn 2020 rollout. Source: binance.com The UK platform will provide GBP and Euro on/off ramps via bank transfer through the UK’s Faster Payments service, as well as the equivalent function in Europe, the Single Euro Payments Area (SEPA) network. Payments sent through Faster Payments are instant but can take up to two hours in some cases. The maximum default transaction limit is £250k ($316k); however, individual organizations can set their own limits.…