Day: August 23, 2020

TikTok to Take Trump Administration to Court for Banning Its U.S. Business

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TikTok has decided to file a lawsuit against the Trump administration challenging the executive order banning TikTok’s U.S. transactions. TikTok blames the Trump government for lack of due process and unwillingness to engage in a constructive solution. TikTok is all prepared to challenge the executive order by the Trump administration which plans to ban its U.S. transactions. On Saturday, TikTok said that it will file a lawsuit against President Donald Trump‘s Executive order for banning the popular video-sharing app. As per Reuters, this lawsuit filing can come as soon as…

These 3 Trends Suggest Bitcoin Is Poised to Bounce After $1,000 Drop

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Bitcoin has seen a slight recovery since the Friday lows of $11,400. The asset now trades for $11,600 as of this article’s writing, but BTC is still around $900 below last week’s $12,500 highs. The cryptocurrency may soon bounce further as a number of positive technical trends form. These technicals do not indicate, though, that Bitcoin is ready to set a new year-to-date high above $12,500. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC Bitcoin Could Soon Bounce As Three Positive Technical Signals Form An analyst…

Qatar’s National Solarized Fintech Strategy Amid COVID-19 Pandemic

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The nation of Qatar is a World Bank “high-income economy,” backed by the world’s third-largest natural gas and oil reserves. It has the third-highest GDP per capita in the world (by purchasing power parity), with very high human development. Similar to other Gulf Cooperation Council states — which also include the United Arab Emirates, Saudi Arabia, Oman, Kuwait and Bahrain — Qatar has had to deal with the decline in global oil and gas prices after they first collapsed in 2014, and the situation has been made even more difficult…

Ethereum Price and Time: More Downsides Possible Before Fresh Increase

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Ethereum is down over 15% from the $445 high against the US Dollar. ETH price could continue to move down, but the $360 support zone might act as a strong barrier for the bears. ETH price is trading in a bearish zone below the $400 and $410 resistance levels against the US Dollar. There is a strong support waiting on the downside near the $368 and $360 levels. There is a key connecting bearish trend line forming with resistance near $400 on the 4-hours chart of ETH/USD (data feed via…

Bitcoin.com Wallet Launches Cred’s 1-Touch “Earn” Button

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China Testing Digital Currency in Major Cities, Including Beijing and Hong Kong China’s Ministry of Commerce has announced the pilot run of the country’s central bank-backed digital currency in major cities, including Beijing, Hong Kong, and Macau. It will also be tested during the 2022 Winter Olympics games in Beijing, the ministry … read more. South African Firms Ordered to Cease Crypto Debit Card Scheme in 2 US States Two U.S. states have issued emergency cease and desist orders to South African firms and a South African national promoting a…

Bitcoin Could Avoid a Major Reversal if it Stays Above One Key Support

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Bitcoin is declining and trading well below the $12,000 pivot level against the US Dollar. BTC must stay above the $11,100 support zone to start a fresh increase in the near term. Bitcoin is struggling to recover and it is trading well below $12,000 and $11,800. The price is currently holding a couple of strong supports above $11,350 and $11,100. There was a break above a connecting bearish trend line with resistance near $11,610 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is struggling…

Bitcoin Stalls, Ethereum 2.0 Outage, and IRS Crypto Crackdown

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Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week.   Top Stories This Week   Pro traders unfazed by Bitcoin price stalling at $12,400, data shows Another week, another unsuccessful attempt at meaningfully cracking $12,000. Bitcoin suffered an 8.6% drop to as low as $11,370 after a stubborn rejection at $12,400. Now, technical analysts are cautiously anticipating a consolidation phase in the short-term. Cointelegraph analyst Michaël van de Poppe says dropping below $11,500 again could lead to a bearish divergence for…

Ethereum’s Balancer (BAL) Surges 25%—and More May Be to Come

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Bitcoin and Ethereum have bounced a few percent over the past few hours, as are altcoins like Balancer. The Ethereum-based BAL is up 26% in the past 24 hours according to Coin Market Cap, reaching a price of $23.50 for the first time in many days. At a 26% gain, Balancer is the second best-performing crypto asset in the top 100 cryptocurrencies, only underperforming Cosmos (ATOM). Analysts say that the asset could be primed to move higher, especially as the decentralized finance space continues to move higher. Related Reading: Crypto Tidbits:…

12 Bitcoin Cash-Fueled Flipstarter Campaigns Raise $1 Million

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The Flipstarter platform has gained traction in the last five months raising $1 million in bitcoin cash for 12 different campaigns. In a recent read.cash blog post, the team behind Flipstarter’s development said the application demonstrates how “stakeholder funding of the commons can work.” At the end of February, news.Bitcoin.com reported on the creation of a noncustodial bitcoin-cash powered fundraising application called Flipstarter.cash. A week later, the developers announced the first fundraisers held on the newly developed application. One of the first fundraisers was dedicated to one of the BCH…

Analyst Who Predicted Bitcoin’s $3,000 2018 Low Thinks Ethereum Is Bullish

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Bitcoin and Ethereum are bouncing higher after this week’s strong correction to the downside of 9% and 14%, respectively. The price of ETH, in particular, has bounced to $395 from the local $380 lows. Although a full-blown reversal is not yet in order due to the nascency of this move, analysts are starting to come around on Ethereum. One historically accurate analyst, in fact, believes ETH will soon reach $500 as bulls reassert control of the cryptocurrency market. Seeing that Ethereum has actually been leading the crypto market over recent…