Day: August 19, 2020

Crypto Traders Discuss Whether Bitcoin Price Can Dip Below $10K Again

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The price of Bitcoin (BTC) has increased by 28% in the last 30 days and 36% at the weekly peak. Following the top cryptocurrency’s first breakout above $12,000 since September 2019, the sentiment remains optimistic. Many fundamental factors point toward an extended Bitcoin uptrend over the long run. Bitcoin has a favorable macro backdrop with the decline of the United States dollar and the rising demand for gold. The premier cryptocurrency has continuously rallied with the U.S. stock market and gold, demonstrating a consistent increase in appetite for BTC. Bitcoin…

Bitcoin Price Down 3% Today, Trading at $11,800 Now

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Yesterday, Bitcoin lost 4.4%, but bulls were striving to help it close above $12,000. And Bitcoin did, closing at $12,108. Before this correction, Bitcoin saw a 6-day run in which it gained 11.93%. However, the pullback allowed for a retest of the $11,500 level. After a long and steady growth, Bitcoin (BTC) has slightly receded from a strong position today. At the moment of writing, Bitcoin is 3.60% down, trading at a price of $11,818.76. But despite this correction, bulls are optimistic about the top cryptocurrency’s prospects. They believe it…

Small Staking Pools on Cardano Boosted by Announcement of New Features

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IOHK CEO Charles Hoskinson has announced several new features aimed at helping small stake pools on the Cardano network. Staking on Cardano went live on July 29th, following the Shelley mainnet launch. Although it’s still early days, the past three weeks or so have highlighted a gulf between big and small staking pools. Hoskinson believes that Cardano can become the most decentralized network in the world. The Shelley roadmap lays out the expectation that the project can achieve 100 times the decentralization of other networks. “Come the end of the…

KuCoin Warns of Impersonator Website Offering Incentives to Deposit Crypto

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Cryptocurrency exchange KuCoin has issued a warning to users regarding a fraudulent website using its branding in an attempt to steal cryptocurrency. According to the report, posted Aug 19, the website is offering false incentives to entice users to deposit digital assets. It further clarifies that the web address “https://c.yrsm.net/app.php/MzI1” has no relationship to the KuCoin Group and is not authorized to use its trademark or other intellectual property. Reminding users to be particularly wary of this type of scam, KuCoin stated that it does not organize any activities outside…

Algorand’s Newest Upgrade Turns the Project’s Eyes Toward DeFi

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The latest upgrade to the Algorand network shows that the project is eyeing the burgeoning DeFi space. In a Cointelegraph interview, Algorand’s head of product Paul Riegle emphasized the three key features of this upgrade: the addition of stateful smart contract functionality to the base layer, “fast catchup” and “rekeying”. The Algorand team believes the new features make it a viable competitor in the DeFi space.  He pointed out what makes Algorand’s stateful smart contracts different from its brethren on other platforms is their integration into the base layer, which…

Bitcoin’s Bull Run is Slowing – Pullback Now Expected

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Bitcoin (BTC) could be set for an imminent retracement as the uptrend that had its origins in the Black Thursday crash now looks to be running out of steam.  Singapore-based QCP Capital warned its Telegram subscribers Wednesday that bitcoin was showing signs of “lethargy” as it struggled to capture any new highs. Bitcoin fell below the key $12,000 milestone on Tuesday – pouring cold water on hopes earlier this week for a major bullish breakout. Bitcoin jumped above $12,400 on Monday, confirming an ascending triangle breakout and signaling a continuation…

XRP Isn’t Competing With Stablecoins and CBDCs, Says Ripple Exec

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XRP, the world’s third largest cryptocurrencies by market capitalization, is not competing with national digital currencies like the forthcoming digital yuan, according to a senior executive at Ripple. Emi Yoshikawa, senior director of global operations at Ripple, claimed that XRP does not compete either with central bank digital currencies (CBDC) or stablecoins. In an Aug. 19 interview with Japanese crypto exchange FXcoin, Yoshikawa said that XRP is complementary to the global progress in CBDC and stablecoin development. The exec stated that XRP should be considered as a “bridge asset” in…

Bitcoin’s Weekly Rejection May Lead Price Below $10K; Here’s Why

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Bitcoin bulls once again failed to hold the price above $12,000, owing to a higher selling pressure near the level. The benchmark cryptocurrency broke upwards of $12,000 on Monday. The rally exceeded towards $12,486 (data from Coinbase), a level that saw massive liquidations of long positions. The higher bids failed to find any fresh buyers, leading the bitcoin price lower in the daily sessions ahead. As of Wednesday, the BTC/USD exchange rate had established an intraday low at circa $11,611. Bitcoin price chart on TradingView.com shows BTCUSD pulling back after…

Guidelines to follow while selecting a Crypto Trading Platform

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As digital currencies continue to gain strength in the globalized world, it has witnessed an increase in trading activity from investors. Since cryptocurrencies have acquired a household name now, it is critical to partner with a reliable Crypto trading platform for maximizing profits. Make a note of your financial goals before deciding to team up with a Crypto trading platform. Some points to consider ahead of choosing a Crypto Trading Platform are:  Security – Since hacks and scams have become quite common in the cryptocurrency industry, the firm must implement…

Flight Delays Can Now Earn You Bitcoin in Bulgaria, Here’s How

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A tech firm is touting Bitcoin payments on flight delays and cancellations, as per the blog post this week. Bitcoin for Flight Delays Bulgarian tech firm Colibra will pay Bitcoin to stranded travelers and vacation hopefuls if they end up getting stood up by the airlines they are traveling with. However, as with all the great things in life, terms and conditions do apply. Colibra has been offering its payment-as-a-gratuity service since last year, but only added crypto as a payment option this week. The firm helps inconvenienced travelers to…