Day: July 27, 2020

5 Things to Eye in Bitcoin This Week

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Bitcoin (BTC) begins a new week above $10,000 and teasing investors with more gains — will it last or is a correction already guaranteed? Cointelegraph takes a look at the coming week and what it might have in store for the Bitcoin price — five factors that could take BTC/USD to the moon or back down to four figures. Gold vs. Bitcoin: “Strong gains are inevitable” While stocks futures were inching higher on Monday, the focus for macro was more on geopolitical tensions. The United States and China continued to…

Exchange Won’t List XMR Due to ‘Issue With Regulators’

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Brian Armstrong says Coinbase won’t be listing privacy coins like Monero (XMR) as they’re still untested grounds for regulators in the United States. In a July 24 interview with Peter McCormack on his “What Bitcoin Did” podcast, Armstrong said he wanted to take a more conservative approach with Coinbase so the exchange would pass the test of time. One of these issues was avoiding direct confrontation about privacy coins including Monero. Armstrong told McCormack, who referred to Monero as “the most credible privacy coin,” that as privacy coins become more…

Mandi Token Aims to Bridge Real-World Business Ventures to Crypto

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The launch of the Mandi project is a revitalization of the hope that real-world ventures can be bridged with cryptocurrency, in a manner that is community-governed and cognizant of its stakeholders. Cryptocurrency has promised a new emerging ecosystem in which its entrepreneurs are not only considered innovators but also providers of financial freedom for the populace that have fettered access to the financial markets. However, while this vision has been realized through the global permeance of Bitcoin, the phenomenon is the largest cryptocurrency in history, the vision of bridging real-world…

Tokenization Holds the Key to Sustainable Platform Business Model Growth

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Platform business models have become all but the de facto business model for the digital economy. This dependence means that unsustainable practices of platform business models impact the overall sustainability of the digital economy. Regarding the generation of network effects, platform business model owners would be well-advised to consider blockchain-based tokenization. Platforms generate value by creating marketplaces where participants can easily transact. By digitally matching supply with demand, platform business models provide a scalable base for new value propositions, novel revenue models or a means to build on the assets…

Here’s Why It Could Follow Bitcoin’s Rally

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Ripple traded to a new monthly high at $0.2252 against the US Dollar. XRP price is currently holding the $0.2145 support zone and it could rally above $0.2200. Ripple remained in a positive zone above the $0.2000 and $0.2100 levels against the US dollar. The price traded to a new monthly high at $0.2252 and settled well above the 100 hourly SMA. There is a key contracting triangle forming with resistance near $0.2195 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to…

ETH Activity in Q2 Similar to That Before 2017 ICO Market Boom

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Though some on-chain activity for Ethereum is similar to the conditions before the price rallied to its all-time high in 2018, it failed to demonstrate the same bullish behavior in 2020. According to a July report from Xangle Research on Decentralized Finance (DeFi) in Q2 2020, research analyst Jehn Kim determined that on-chain transaction volume on the Ethereum blockchain increased roughly 62%, around a 52-week high on June 23. Transaction fees also rose approximately 688%.  The analyst noted that these on-chain stats “partially resemble the spike seen during the bull…

Price & Time Indicate Rally To $350

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Ethereum is up over 8% and it broke the $325 resistance zone against the US Dollar. ETH price tested the $330 level and it is likely to continue higher towards $350. Ethereum is surging and it is now trading well above the $300 handle. The price traded to a new monthly high at $300 and it is currently correcting lower. There is a major ascending channel forming with support near $318 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher above $330…

Bitcoin Price Soars on Strong Weekly Close Putting $10.5K Within Reach

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Within the last hour, Bitcoin (BTC) price rallied above $10,000 to set a new monthly high at $10,315.  The move came after a rather uneventful weekly close which saw the top-ranked digital asset on CoinMarketCap close above an important multi-year descending trendline. A few hours after the close, Bitcoin price found renewed strength and surged above the $10,100 resistance zone. Crypto market weekly price chart. Source: Coin360 Analysts now expect traders to target $10,500, and above this level price estimates ranging from $11,000, $14,000 and even $16,000 have been thrown…

Second Stimulus Check Coming, But Will Americans Use it on Crypto?

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U.S. residents who invested their first stimulus checks in Bitcoin have seen a 45.5% return, from $1,200 in April to roughly $1,746 at the time of writing, when the cryptocurrency is surging past $10,200. In a July 26 interview with CNN’s Jake Tapper, White House economic advisor Larry Kudlow confirmed Americans will be receiving another $1,200 check as part of a roughly $1 trillion stimulus package first announced on July 23.  However, according to Newsweek, many Americans have reported not receiving the first checks, which the U.S. Treasury started issuing…

A Strengthening Case for More Gains

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Bitcoin rallied over 4% and it broke the key $10,000 resistance against the US Dollar. BTC is showing a lot of positive signs and it is likely to rise further above $10,200. Bitcoin gained bullish momentum above the $9,800 and $10,000 resistance levels. The price is now holding strong at $10,000 and it is well above the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $10,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely…