Day: July 28, 2020

Bitcoin Trends on Twitter in the U.S. and Canada as Price Jumps 15%

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It’s been an absurd day for Bitcoin. The asset is up in excess of 10% in the past 24 hours, surging higher as crucial resistances fall to buyers. With one of the best daily performances in months and an extremely impressive macro setup, investors around the world are taking notice of Bitcoin. Multiple reports have indicated that the asset is going viral on Twitter, trending in at least the U.S. and Canada. Related Reading: Crypto Tidbits: Twitter’s “BTC Scam,” Elon Musk & Dogecoin, Institutions Want BTC & ETH Bitcoin Trends on…

The Options Market Thinks Bitcoin Has a 9% Chance of Hitting $20,000 by EOY

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Bitcoin’s price incurred some soaring momentum today that allowed it to rally as high as $10,900 before facing some insurmountable selling pressure. The cryptocurrency is now consolidating as buyers attempt to garner greater support. It does appear to be a growing possibility that buyers send BTC into the $11,000 region in the near-term, as this latest movement marked a notable breakout. Despite the strength that the benchmark cryptocurrency is currently flashing, it is important to note that one fragment of the market is not convinced that this will be enough…

Three Individuals Behind Alleged PlexCoin ICO Scam Charged with Fraud

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Three Canadian citizens involved with an alleged initial coin offering scam from crypto project PlexCorps have been charged with fraud over conning investors out of $8 million. According to a July 24 statement from the U.S. Attorney’s Office in the Northern District of Ohio, PlexCorps owners Dominic Lacroix and Sabrina Paradis-Royer as well as former employee Yan Ouellet were indicted on five charges, including conspiracy to commit securities fraud and wire fraud, wire fraud, and conspiracy to commit money laundering. The three were found to be responsible for transferring millions…

Japanese Otaku Coin Association Welcomes New Leadership

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Formed to connect fans of Japanese animation, the Otaku Coin Association has announced leading figures from the anime and the blockchain industry will join its leadership team. According to a July 27 article in Japanese news outlet AdverTimes, executives from Dentsu Japanimation Studio and the Hakuhodo Blockchain Initiative will be joining the Otaku Coin Association (OCA) as new directors. The OCA appointed Makashi Muto from Dentsu and Yusuke Ito of Hakuhodo to its team. The association started distributing 6 million tokens among 15,000 participants for free in September 2018. However,…

Bitcoin Fees Skyrocket 590% Since Mid-June – Supporters Think Mempool Size Is ‘Bullish’

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Bitcoin fees have grown much larger in recent days spiking to a two-month high to $3.80 per network transaction. The crypto asset’s fees have jumped 590% since June 14 and the mempool (transaction backlog) has grown significantly. Digital currency markets have been extremely bullish lately as bitcoin (BTC) touched a high of $10,974 on Bitfinex on Monday. BTC’s price has jumped over 8.8% in the last 24 hours and over 17% during the last seven days. Despite the huge spike in value, digital currency advocates have been complaining about the…

Eerily Accurate Bitcoin Fractal Predicts BTC Could Hit $20k This Year

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What a day it’s been for the Bitcoin market. After holding under $9,000 for multiple days and weeks, the asset saw an extremely explosive breakout that saw it reach a local high of $10,450 literally just minutes ago. With this latest leg higher, BTC is up 13% in the past 24 hours — outpacing a majority of altcoins, including Ethereum and XRP. Some are fearful that the rally stops here, citing a number of trends, including a CME gap and a Tom Demark Sequential “9” candle. Yet an eerily fractal…

Bitcoin Price Rallies 13% to Break Through $11,000

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Within the last hour Bitcoin (BTC) price pushed through the $11,000 level in a high volume surge which saw the price reach a new 2020 high at $11,394.  At the time of publishing the price has pulled back slightly to the $11,150 range but purchasing volume continues to rise on the 1-hour timeframe. This suggests that the top-ranked digital asset on CoinMarketCap may have another go at the daily high.  Crypto market weekly price chart. Source: Coin360 As reported earlier by Cryptox, on-chain activity registered a significant spike in exchange…

Why Bitcoin is “Building Up Steam” for a Push Higher Despite Slowing Momentum

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Bitcoin’s intense uptrend seen throughout the past couple of days has allowed it to navigate towards its crucial high time frame resistance region that sits at $10,500. The crypto came incredibly close to tapping this price level earlier today, but the selling pressure here was significant and it has since declined back down to $10,300. Although buyers have not yet expressed that they have enough strength to shatter this crucial level, bears’ inability to catalyze any type of intense selloff at this price level is a positive sign for its…