Day: July 19, 2020

Here’s the Level Bitcoin Needs to Break to See a “Tesla Sized” Rally

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Bitcoin’s boring price action seen throughout the past few months has caused its trading volume and liquidity to both dive lower. It appears that many traders are turning towards the more traditional markets to get their fix of volatility, with some equities like Tesla (TSLA) seeing massive rallies over the past couple of weeks. Although Bitcoin’s lackluster price action doesn’t appear to be letting up anytime soon, the cryptocurrency may eventually see a rally similar to that posted by TSLA. That being said, one analyst is noting that there is…

Roger Ver Says Twitter Blocking His Tweets About BCH

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Bitcoin.com founder Roger Ver says Twitter seems to be blocking him from sending tweets about non-state issued money.  Ver said he was trying to send tweets about instant near-field communication, or NFC, payments for Bitcoin Cash (BCH) and Simple Ledger Protocol (SLP) tokens from be.cash but was unable to.  It seems Twitter is blocking me from sending certain tweets promoting non state issued money. pic.twitter.com/7JiZ6G9jXA — Roger Ver (@rogerkver) July 19, 2020 Ver, who has been pushing BCH, did not seem to be one of the users affected by the…

Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention)

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Every year has a handful of days that you’ll never forget. Sometimes for great reasons, sometimes for awful ones, and sometimes because a level of noise and action coalesces into an awareness that something big has shifted. Wednesday was one of those days, with the staccato of compromised Twitter accounts (including ours) escalating to reach prominent public figures including current and former heads of state. The scale of the hack was spectacular. You’re reading Crypto Long & Short, a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by…

$120K Stolen, FBI Investigate, Calls to Ban BTC — Hodler’s Digest, July 13–19

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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 Elon Musk, Kanye West and Bill Gates’ Twitter accounts hacked by Bitcoin thief This week, Twitter and Bitcoin suffered a PR disaster. In a coordinated, ambitious attack, about 130 high-profile accounts were hijacked. Top celebrities, entrepreneurs, politicians, businesses and crypto exchanges were affected. Many posted…

Bitcoin Price Predictions by Top Analysts Are Usually Wrong — Here’s Why

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Since Bitcoin (BTC) price rallied above $19,000 in 2017, crypto analysts have issued an amazingly wide range of price predictions on the date and value of the next all-time high or low.  Sometimes these predictions are rooted in deep fundamental and technical analysis, whereas other times they are simply nothing more than off-the-cuff estimates issued at whim.  Options markets provide useful insights into traders’ expectations, including mathematical probabilities for an asset’s future prices. Using Black & Scholes model allows one to better assess the likelihood of analysts’ estimates.  The Black…

Even After Going Parabolic, Ethereum DeFi Tokens Have Room to Grow in China

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Ethereum’s decentralized finance (DeFi) tokens have been all the rage over recent weeks, with some literally rallying parabolically. Take the example of Aave’s LEND, which has gained in excess of 184.8% in the past 30 days and 7,500% in the past year. Or take the example of Synthetix Network Token (SNX), which is also up by almost 200% in the past month. With such strong price action, there have been some suggestions that DeFi is in a bubble poised to pop. Weiss Crypto Ratings, market research firm Weiss Ratings’ cryptocurrency…

What Happens Next? Bitcoin Range Falls To Tightest Point In History

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2020 has been a brutal year on all accounts, topped off by the most boring sideways action in Bitcoin yet. In fact, this truly is the most stagnant range in the history of the first-ever cryptocurrency, according to a range-measuring technical indicator. Bitcoin True Range Reaches Record-Setting Low Bitcoin price is trading at roughly $9,200. It’s been trading within just a few percent from that price for the last few months. Any attempts to push prices lower results in dip buyers stepping in and wicks left to the downside. All…

Hackers Demand $7.5 Million in Monero Following Phone Company Hack

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Reports have emerged that hackers have demanded $7.5 million in Monero following an attack on Telecom Argentina S.A, a major telecom provider that serves the country’s north region. Anonymous sources claim the cyberattack has been on-going since Wednesday. At first, staff attributed poor IT performance to glitches within the system. But investigations by the firm’s help desk were later followed by company-wide requests not to open files, access email, and even to disconnect terminals from the system. “[staff] had trouble accessing the company’s VPN, and in the Siebel system where…

Second Lawsuit Filed Against Plaid

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A new class action lawsuit complaint against fintech startup Plaid has been filed with more plaintiffs alleging the company violated the data privacy of users.  The new complaint filed on behalf of four new plaintiffs alleged that Plaid—which was bought by Visa for $5.3 billion this year—collected information on over 200 million distinct financial accounts who use services such as Venmo, Coinbase, Square’s Cash App and Stripe. The complaint states Plaid obtained “direct and full access to consumers’ personal financial banking information for Plaid’s own commercial purposes wholly unrelated to…

Top 5 Cryptocurrencies to Watch This Week: BTC, ADA, LINK, XLM, VET, DGTX*

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While Bitcoin’s range-bound action is likely to extend for a few more days, select altcoins continue to show promise. Bitcoin’s (BTC) tight range has put analysts in a fix, meaning, every bit of data is being analyzed to determine the direction of the impending breakout. Bitcoin options open interest data can provide some clues on what the larger investors are expecting but there are many other factors at play that could influence Bitcoin’s spot price. Currently, the maximum open interest buildup in calls is at the $11,000 strike price and…