Day: July 31, 2020

Bitcoin Price Soars to $11,400 as Traders Say a ‘Bull Phase’ Is Igniting

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The price of Bitcoin surpassed $11,400 for the third time in three days, breaching a critical resistance level. Earlier today BTC price reached $11,444 but it quickly rejected back to the $11,250 range. Surprisingly, within the last hour the price has risen above the $11,400 mark again and some traders believe that repeated retests of the resistance could raise the chances of a breakout. Spartan Group’s Kelvin Koh said that when BTC breaks out of $11,400, a rally to $12,000 is likely. Meanwhile, on-chain analyst and trader Willy Woo said…

Americans Trade Depreciating Dollars For Bitcoin

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A Bloomberg article claims that Americans are foregoing the safety of the dollar for more speculative assets like stocks, gold, and Bitcoin (BTC). High saving rates, low yields Because of the COVID-19 lockdown, the personal savings rate in the U.S. is at a historic high. The yield offered by the financial institutions on savings accounts, however, is close to zero. At the same time, assets as Bitcoin, equities, and gold, all have made double-digit gains since March. This is making them an attractive option for investors. Source: Bloomberg. The article…

Market Wrap: Bitcoin Pushes to $11,450, DeFi Value Locked Now at $4B

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Bitcoin and ether continue to make gains Friday and stakeholders are increasingly investing their crypto into DeFi. Bitcoin (BTC) trading around $11,333 as of 20:00 UTC (4 p.m. ET). Gaining 2% over the previous 24 hours. Bitcoin’s 24-hour range: $10,974-$11,460 BTC above 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since July 28.Source: TradingView Bitcoin’s price pushed as high as $11,460 on increased buying volume Friday, continuing its bullish run to cap a week of economic uncertainty.  Read More: Bitcoin on Track for…

Price Analysis 7/31: BTC, ETH, XRP, BCH, BSV, LTC, ADA,CRO, BNB, EOS

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Bitcoin finally broke through the $11.2K resistance and Ethereum’s continued strength is likely to pull several altcoin prices higher. Economists are divided on the consequences of record low interest rates across the globe and the incessant money printing by the central banks. However, one thing that most experts agree upon is that investors should get out of paper money and invest in hard assets. Gold has been the traditional safe haven asset which is preferred by institutional investors looking to hedge their portfolio or protect their purchasing power.  However, in…

Future Lotteries Could Benefit From ETH 2.0’s Randomness

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Discussing Ethereum’s (ETH) hackathon in partnership with the Colorado State Lottery, Vitalik Buterin opined that in the future, such lotteries could benefit from Ethereum 2.0’s Verifiable Delay Function. No immediate use for Ethereum in the project The Ethereum creator will be one of the guests at the virtual opening ceremony for the Colorado State Lottery GameJam Hackathon. Jared Polis and Chainlink’s co-founder, Sergey Nazarov, will also be inattendance. Buterin does not believe that the Colorado Lottery will immediately start using the Ethereum blockchain for its games of chance, but suspects…

This Indicator Suggests Ethereum is on a “Moon Mission” with a Target of $460+

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Ethereum has been seeing some incredibly strong price action throughout the past several weeks, and there’s no end in sight to its ongoing uptrend. The cryptocurrency is currently reaching up towards a key high time frame resistance level that analysts have been closely watching for quite a while, but the overtly bullish market structure formed in recent times will likely be enough to propel it over this level. One analyst is pointing towards the crypto’s decisive break into its Ichimoku Cloud resistance as a factor that could help propel it…

WaykiChain WGRT, More Than Just Governance Coin

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Place/Date: – July 31st, 2020 at 7:59 pm UTC · 4 min read Contact: Waykichain, Source: Waykichain WaykiChain has a leading layout in the decentralized finance field as a professional DeFi public chain. Since the launch of the stablecoin WUSD project in September 2019, WaykiChain’s DeFi ecosystem has appeared globally. The first three-token economic model based on the bottom of the public chain is the foundation of the WaykiChain DeFi ecosystem development. WaykiChain public chain has mainnet coinWICC, stablecoin WUSD and governance coin WGRT, three different types of tokens promote…

Big Tech, Central Banks and the Hunt for Monopolies, July 24-31

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Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.  Editor’s note The concept of monopoly will reign in today’s Law Decoded. As a fundamental principle, blockchain technology is about distributing both inputs and outputs of information securely. In its still very young lifecycle, the technology has proven to have boundless applications on the basis of this fairly simple principle.  A secondary principle is decentralization, and in this way, blockchain technology seems inherently opposed to monopolies. The big challenge of Bitcoin’s…

Bitcoin’s Option Market Is Now Skewed Bullish

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Bitcoin’s price jumped to a fresh 11-month high on Friday, with the options market betting on a sustained bull move.  The put-call open interest ratio looks to have risen from 0.50 to 0.63 this week due to greater selling in put options. With the combination of negative skews and a rising put-call open interest ratio, bitcoin’s latest move above $10,000 looks like it can be sustained. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set…

Decentralized Apps May Solve SIM Swapping Woes

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In the US alone, over $55m has been stolen through SIM swapping attacks since 2018. NEM, a blockchain-based ecosystem, believes that decentralized apps could provide a meaningful solution to this problem. According to NEM, they’re working with a solution called “FIX Network”, which was established to help mobile subscribers secure private keys and transactions on SIM cards. The network leverages a blockchain-based protocol to support the security and privacy of mobile subscribers, NEM explains: “This unique architecture will allow mobile operators to deliver services such as digital identity management, cryptocurrency…