Day: August 17, 2020

Investor Jim Rogers Warned of the ‘Worst Economic Downturn’ of His Lifetime

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Investor Jim Rogers, chairman of Rogers Holdings, recently warned in an interview that recent central bank bailouts will bring about the worst economic meltdown in his lifetime. Central banks globally are printing trillions of dollars in an effort to help countries stimulate their respective economies. Although the S&P 500 has gone up 50% and has shown no signs of slowing down since March 23, Rogers believes that the bailout plan is not going to end well in the long term. In fact, Rogers thinks the US market is a bubble…

XRP Has “Officially Started” Its Next Bull Run After Breaking This Key Level

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XRP is currently pushing higher alongside Bitcoin and the rest of the cryptocurrency market. The digital asset has been struggling to break above the resistance that exists between $0.30 and $0.33, but it now appears that bulls are vying to push it past this key region. Where it trends next may largely depend on whether or not BTC can maintain its newfound position above $12,000. A failure for it to do so could lead it to see a sharp decline back towards its $11,200 support. This would also likely create…

Pantera Capital Has Raised 3x More This Year Than It Did in 2019

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Pantera Capital, a crypto investment firm that has $600 million under management, had a very good year, but still not as good as 2018. According to a recent SEC disclosure, Pantera Venture Fund III has raised $164,705,834 to date — and a whopping $68,841,379 of that has come over the last twelve months. While the fund raised only $24,419,455 last year, it still has not topped its 2018 raise of $71,445,000. Pantera Capital fundraising 2018-2020. Source: Cointelelgraph, SEC. The average investor ticket size, which amounts to roughly $1.77 million, increased…

Dave Portnoy Has Taken a 180 On Crypto & Begun Shilling Altcoins

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Following his recent educational foray into the world of Blockchain, Barstool Sports founder Dave Portnoy now appears to be promoting crypto pump and dump schemes by shilling low-cap altcoins. Posting a number of videos on Twitter, Portnoy stated that he had found a new altcoin “that I’m interested in,” but wouldn’t disclose which crypto it was yet. He reasoned that he didn’t want people to buy it before he did. He later tweeted that he had diversified some of his crypto holdings into the altcoin Orchid, which he referred to…

Market Wrap: Bitcoin Cracks $12.4K; DeFi Crosses $6B Locked

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Bitcoin made a major gain Monday while investors have locked over $6 billion in crypto into various DeFi services. Bitcoin (BTC) trading around $12,332 as of 20:00 UTC (4 p.m. ET). Gaining 4.1% over the previous 24 hours. Bitcoin’s 24-hour range: $11,774-$12,485 BTC slightly above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since August 15.Source: TradingView The world’s largest cryptocurrency by market capitalization opened the week with higher-than-normal volume pushing bitcoin to as high as $12,485. For some market observers it was…

Bitcoin Tokenized on Ethereum Is Exceeding Mined BTC

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The Ethereum-led DeFi token bullrun has created a situation where Bitcoin tokenized on the platform exceeds actual Bitcoin mined, according to on-chain analytics firm Dune Analytics. Bitcoin on Ethereum a Hit Over 1,100 more Bitcoin was represented on the Ethereum blockchain as of August 17, data on Dune Analytics shows. Interestingly, these “Wrapped Bitcoins” are representative of the ongoing boom in DeFi and DeFi-centric products which sees no signs of slowing down. As per BTC.com, around 900 Bitcoin is mined each day at a block reward rate of 6.25 Bitcoin…

Bitcoin Dominance Readies Deadly Blow Against Altcoins, Indicator Says

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Bitcoin is up over 70% year to date and its recent break through resistance at $10,000 helped propel altcoins toward even stronger ROI. Several altcoins are up well over a few hundred percent, beating out the first-ever cryptocurrency by a wide margin. This all could soon reverse according to a handful of signals on BTC dominance charts, causing Bitcoin to vastly outperform the rest of the crypto market. Altcoins Outperform Bitcoin in 2020 After Last Year’s Crypto Market Capitulation Bitcoin is the first-ever cryptocurrency and anything that came after it…

Starting Second Term Today, SEC Commissioner Peirce Tells Cointelegraph Her Crypto Priorities

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Most days, there is little love lost between the United States Securities and Exchange Commission and the world of crypto. As the regulator of the world’s largest capital market, the commission’s continuing work to track down sales for tokens it considers unregistered securities has left a fair bit of the crypto market viewing the commission like a boogeyman. Which is not fair. There are controversial cases, but the ICO boom was rampant with predation, fraud and theft: Exactly the sort of issues you keep a regulator around to stamp out.…

Kim Dotcom Predicted Bitcoin’s Rise Two Years Ago

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Internet entrepreneur and digital rights activist, Kim Dotcom, congratulated Twitter followers who bought Bitcoin based on his advice in 2018. According to a tweet published on August 17, the founder of the now-defunct file-sharing website, Megaupload, also praised followers that managed to capitalize on gold’s rising prices. In August 2018, Dotcom told his followers that they should buy Bitcoin and gold. He said that the U.S. dollar “will become worthless” and that he believed that a “U.S. economic collapse” was imminent. He felt that this would take all “old money…

Qtum Will Pledge up to $5 Million to Its New DeFi Development Fund

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Qtum has just launched one of the biggest DeFi development funds to date. $1M has been allocated initially by the Quantum Foundation but Qtum founder Patrick Dai has said that as much as $5M may eventually be assigned to DeFi devs. The fund has been designed for solo developers and teams interested in creating scalable decentralized finance applications. Innovation on Ethereum has been stymied by transactional bottlenecks that have caused fees to spike. It now routinely costs over $10 to make a simple DEX trade and more than $3 to…