Day: August 29, 2020

Chainlink’s Nazarov sees two ways for mainstream DeFi adoption

boss

As decentralized finance begins to gain ground, Chainlink co-founder Sergey Nazarov believes there are two ways for more mainstream adoption.  Speaking at the Smart Contract Summit, Nazarov said he sees two ways DeFi “crosses the chasm” and more Web 2.0 companies to adopt these technologies.  “The transition occurs in two different key dynamics. The slower path is in the interest yield. We’re currently in a low-interest environment and the appetite to combat yield will be massive. The second, and the faster path, is through counterparty risk. This is where the…

3 key metrics show bulls control Bitcoin price despite $12K resistance

boss

Bitcoin (BTC) price dropped by as much as 10% this week and while this might be scary for day traders, the 3-day chart shows the downside move hardly made a dent on the current market structure. This holds especially true when considering that the $12,500 level hasn’t been touched in over 13 months. Currently, analysts are making $16,000 price targets partially due to a CME gap and the expectation that U.S. inflation will rise higher. Bitcoin 3-days chart, USD. Source: TradingView The above chart illustrates how insignificant the past ten…

Carson Wentz’s Chances of Playing a Full Season Just Disappeared

boss

Andre Dillard’s season-ending injury puts brittle Carson Wentz at risk. 38-year-old Jason Peters will be challenged by elite pass-rushers in the NFC East. The Eagles have an injury-prone quarterback behind a worryingly thin offensive line. Carson Wentz has been struck down by injury in each of the last three seasons with the Philadelphia Eagles. Head coach Doug Pederson should prepare for more misery where his brilliant but brittle quarterback is concerned. Wentz’s chances of playing every game for the Eagles in 2020 disappeared when left tackle Andre Dillard suffered a…

You Think the Dow Is in a Bubble? The Real Rally Awaits

boss

The Dow Jones might be in a consolidation phase after the March bottom, asset manager Todd Gordon says. If a similar pattern as the 2000 dot-com bubble to the 2008 housing bubble follows, U.S. stocks are en route to new highs. The Fed’s 2% average inflation rate, combined with low-interest rates and high global liquidity, buoy investor confidence. The Dow Jones Industrial Average (DJIA) is not in a bubble, says Ascent Wealth Partners managing director Todd Gordon. He argues the Dow is currently consolidating, and a larger breakout awaits. The…

Analysts Flip Bullish on Chainlink After Breaking Above Critical Resistance

boss

After an extended period of consolidation, Chainlink’s price is finally breaking out as it begins navigating back up towards its all-time highs. This intense momentum that has guided it higher today came about as a result of its bulls shattering the resistance it was previously facing around $16.00, with the break above this level also marking an end to its range-bound trading phase. This movement was technically significant, as it suggests that LINK bulls still have a serious edge over bears. While speaking about this latest movement, one analyst also…

Ripple’s Garlinghouse forecasts further loss of U.S. dollar value

boss

After what has been a crazy year in almost every sense of the word, businesses are left wondering how to proceed, Ripple Labs CEO Brad Garlinghouse said.   “The pandemic is throwing so many playbooks out the window,” he posited in an Aug. 28 tweet. “Yesterday’s action flies in the face of decades of precedent,” he said, pointing toward an Aug. 27 article from the Wall Street Journal on the U.S. Federal Reserve choosing to keep interest rates low at the possible expense of higher inflation. “Signs point to further dollar debasement…

Current Bitcoin Price Action Closely Follows Textbook Distribution Pattern

boss

Bitcoin bulls are currently attempting to turn weekly resistance at $11,500 into support. However, failure may be likely according to an ominous pattern the cryptocurrency is painting. Recent price action in the first-ever cryptocurrency closely mimics that of a Wyckoff distribution model. If that’s what’s playing out in the crypto market, Bitcoin could take a dive to lower levels in the weeks ahead. But there also could be a fractal forming that says otherwise and suggests another move higher. Which is it? Bitcoin Price Action Closely Resembles Wyckoff Distribution Schematic…

Congratulations, Retail Traders. You’ve Suckered in the Big Money

boss

Money market fund balances declined for the third month in a row. Investors are putting extra cash to work in stocks. Retail traders may have gotten the Fed to keep the party going. After hitting a record of $4.8 trillion following the market’s biggest panic in over a decade, money market funds are starting to decline. Why? The Robinhood-fueled retail trading frenzy is now beginning to make other investors feel left out. Retail Traders Get the Last Laugh as the Pros Come Back In There’s long been a theory in…

Cryptocurrency news from Japan: Aug. 23

boss

This week’s headlines from Japan included one of country’s leaders describing Bitcoin creator Satoshi Nakamoto’s dream as meaningful, LayerX Labs collaborating with a Japanese university for blockchain research, the FINSUM blockchain conference hosts notable discussion on security tokens offerings, and the head of Monex Group saying Japan is falling behind the U.S. on STOs.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Japanese Financial Services Agency head describes Bitcoin as impactful At the end of Tokyo’s 2020 Blockchain Global Governance Conference, or BG2C,…

Building the blockchain community is essential for further developments

boss

Cryptocurrency was built on the premise that a reimagined financial system could exist. It was brought to life by a community that supported these ideals and worked tirelessly to bring them to fruition. As the blockchain community grows, so does the recognition that cryptocurrency is important. According to Big Four audit firm Deloitte’s “2020 Global Blockchain Survey,” more than half of those surveyed believe that digital assets will be very important, while almost 89% of respondents feel that digital assets will be important to their industries in the next three…