Day: July 9, 2020

How a Fragile Monetary System Could Influence Bitcoin in the Coming Months

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The economic events seen throughout 2020 have helped Bitcoin secure its position as both a currency and a store of value. To thwart the effects of immense economic turbulence resulting from the ongoing pandemic, central banks across the globe have been printing money at an unprecedented pace. This has placed many fiat currencies in a precarious position, as they are widely losing value against the US Dollar and are also vulnerable to severe devaluation. One analyst is now noting that this “fragile” monetary system could hold heavy influence over Bitcoin…

Prosecutors Expect Guilty Plea From Alleged $7m Crypto Fraudster

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Jon Barry Thompson, the accused operator of a fraudulent crypto escrow service that defrauded $7 million from two customers, is expected to enter a guilty plea — with prosecutors aiming to finalize proceedings in September. “The parties expect to reach a disposition of this matter and respectfully request that the court set a control date in September 2020 for the entry of that disposition,” the prosecution wrote in a letter submitted to the court. In April, Thompson’s counsel, Peggy Cross-Goldenberg, indicated that both sides had made “substantial progress” towards disposition.…

Bitso Hits 1M Users as Crypto Adoption Spikes in Latin America

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Bitso, one of the biggest cryptocurrency exchanges in Latin America, has hit 1 million users prior to its upcoming launch in Brazil. Santiago Alvarado, director of cross-border payments at Bitso, discussed the latest developments in leveraging crypto for cross-border payments in Latin America during a Unitize panel on July 8. The discussion was joined by Ripple’s director of product Craig DeWitt and Prysm Group’s Reed Cataldo. Bitso tops Argentinian market after launching in February During the panel, Alvarado revealed that Bitso reached a major milestone by hitting a one million…

If Crypto Traders Abandoned Litecoin Why Are Investors Hoarding LTC?

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Price wise, Litecoin (LTC) has had a pretty rough year and currently the altcoin is down 51% over the past twelve months. The lack of GitHub activity and planned protocol upgrades have Litecoin co-founder Charlie Lee to admit 2019 saw a historic low in the number of developers working on Litecoin Core, the software behind network nodes. The beginning of 2020 was no different and Charlie Lee asked for voluntary LTC miner donations to help boost development funding. Uncertainties regarding Litecoin’s future have caused investors to lose interest in the…

Ethereum Is Up Over 10% – Here's Why (Hint: Central Banks holding ETH)

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‘Bitcoin Is Not a Privacy Coin’ Says Crypto Evangelist Andreas Antonopoulos

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Andreas Antonopoulos discussed how he desired to see Bitcoin have more “privacy features” in a recent live stream Q&A session published on Youtube on July 7. Antonopoulos discussed the privacy-centric coin monero and concepts like stealth addresses and ring signatures. Every once in a while, the well known cryptocurrency expert and evangelist, Andreas M. Antonopoulos, publishes a short clip of him answering a question from one of his live stream followers. On July 7, Antonopoulos discussed the Bitcoin (BTC) network and answered the question of whether or not “[BTC would]…

These Five Technical Signs Show Bitcoin Is on the Verge of Testing $10,500

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Bitcoin has continued to push higher after a weekend dip. As of this article’s writing, the leading cryptocurrency trades for $9,450, a few basis points below the local high of $9,480. The cryptocurrency is still waiting to surmount the crucial $9,500 level. Yet, analysts say that there’s a rapidly forming Bitcoin bull case. Related Reading: Economist Steve Hanke: Bitcoin Is Not a Currency, It’s a “Speculative Asset” Bitcoin’s Technical Outlook Is Starting to Favor Bulls Until it breaks above $10,500 or below $8,500, Bitcoin is stuck in a macro consolidation.…

Bitcoin Retesting Bollinger Band Mid-Line, Rejection Has Resulted In 40% Decline

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Bitcoin price is at a critical moment in its market cycle. And although it’s been said dozens of times before, the next move could choose the trend direction for months to come. At this very moment, the asset is testing a level that in the past, rejection has caused a 40% drop on average. Will the first-ever cryptocurrency make it though the key resistance, or will another 40% collapse follow? Bollinger Bands May Hold the Key To Bitcoin Bull Run Bitcoin price has been trading sideways for months now, reaching…