Day: August 31, 2020

Bitcoin News Roundup for Aug. 31, 2020

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With bitcoin still lagging behind U.S stocks and additional tax guidance in the U.S., CoinDesk’s Markets Daily is back for your latest crypto news roundup! While bitcoin is eyeing an August gain for the first time in three years, the cryptocurrency is still lagging U.S. stocks over the month.  China Construction Bank had quietly opened up the wallet service of China’s digital yuan to public users – but has now disabled it shortly after the feature gained wide attention. Chairman Powell’s speech on Thursday highlighted how much the Federal Reserve’s role…

Is Ethereum Left and Bitcoin Right? – Cointelegraph Magazine

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Hacktivist Bitcoin developer Amir Taaki took aim at Ethereum co-founder Vitalik Buterin on Twitter recently for essentially writing off smart contracts inventor Nick Szabo as a right-wing crank. Taaki wrote that this sort of attitude was typical of an “Eth[ereum] culture which is about sparkling burner parties, privileged digital nomads, microdosing LSD, sex orgies and ‘social-justice’ / vague doing-good.” Pretty much everyone had the same initial thought: “Why aren’t I getting invited to these parties?” But Taaki’s comments also highlighted the political divisions between Ethereum and Bitcoin. Is it really…

Craig Wright Reopens Case Against Roger Ver in Antigua and Barbuda

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Craig Wright and Roger Ver have a long history of the rivalry that has been developing in many courts in different jurisdictions. The new chapter is beginning. Popular figures in the cryptocurrency industry Craig Wright and Roger Ver are set to continue with their supremacy battle in Antigua and Barbuda High Court, where they share citizenship. This is according to court documents shared by industry publication, CoinGeek, that suggest the case hearings are set to begin. Wright is an Australian computer scientist and businessman who has publicly claimed to be…

Ethereum Aims for $500 as On-Chain Metrics Show Little to No Resistance Ahead

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Since the beginning of the month, Ethereum has been consolidating within a narrow range. Its price has been mostly contained between the $372 support and the $445 resistance level, without providing any clear signals of where it is headed next. The stagnant price action caused the Bollinger bands to squeeze within the same time frame, indicating that a period of high volatility is underway. Only a daily candlestick close above $445 or below $372 will determine the direction of Ether’s trend. Until then, this price range can be considered a reasonable…

If Basketball Fails, LeBron James Jr Has a Gaming Contingency Plan

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LeBron ‘Bronny’ James Jr has signed a deal with eSports outfit FaZe Clan. The announcement features a highlight reel of FaZe Bronny showcasing his Fortnite and Call of Duty skills. The young basketball star joins the likes of Ben Simmons, Meyers Leonard, and JuJu Smith-Schuster at the organization. If LeBron ‘Bronny’ James Jr fails to follow in his father’s footsteps on the court, the up-and-coming basketball player will have a gaming career to fall back on to. FaZe Clan announced yesterday that it had secured the 15-year-old high school basketball…

Apple (AAPL) and Tesla (TSLA) Stock Splits Could Drive More Growth

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The proposed stock splits of Apple (AAPL) and Tesla (TSLA) could drive future growth up to about 33%. The proposed stock splits of Apple Inc (NASDAQ: AAPL) and Tesla Inc (NASDAQ: TSLA) billed to take effect this Monday (August 31) could drive future growth up to about 33% as eToro survey revealed. As reported by Yahoo Finance, the bullish claims made by the trading platform (eToro) is based on a careful trend observation of companies who have effected a stock split in the past. Many of whom reportedly saw growths…

Venezuela’s Bitcoin Use Soars Amid Hyperinflation: 3rd on Global Crypto Adoption Index

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Venezuelans have become increasingly interested in cryptocurrency as their country faces dire economic crisis and hyperinflation, a new study by blockchain data analytics firm Chainalysis shows. The firm’s Global Crypto Adoption Index ranks Venezuela third as “The country has reached one of the highest rates of cryptocurrency usage in the world.” Cryptocurrency Adoption Soars in Venezuela Chainalysis published its study of Venezuela’s bitcoin usage Thursday, which is part of its upcoming 2020 Geography of Cryptocurrency Report. “Venezuela is suffering through one of the worst economic crises in modern history, with…

The S&P 500 Needs 5 Components For Sustainable Rally—But 2 Are Missing

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Economist David Rosenberg said in a recent interview that the S&P 500 rally lacks fundamentals and valuations. Fed-induced liquidity and risk-taking investors are fueling the ongoing rally. A key metric has hit near zero for the first time since the dot-com bubble in early 2000. The S&P 500 Index has soared 56.8% since the March 23 bottom. Now, economists are becoming cautious as fundamentals struggle to support the ongoing rally. The performance of the S&P 500 Index over the past 12 months. | Source: Yahoo Finance Speaking on Palisade Radio,…

Bitcoin will hit new high ‘in near term’ as Buffett exits USD — Keiser

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The U.S. dollar is getting so weak that even Warren Buffett is getting out and Bitcoin (BTC) will see all-time highs, says Max Keiser. In his latest forecast for macro, the RT host warned that safe havens would seriously outperform fiat. Buffett, he implied, knew what was coming. Keiser: Buffett “getting out of USD” “Buffett’s move into Japan, along with his GOLD investment, confirms he’s getting out of USD BIGLY,” Keiser wrote on Twitter Monday.  “USD is trending lower today, about to break key support. Bitcoin – Gold – Silver…

FTX buying Blockfolio continues consolidation trend in crypto industry

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The past few months have seen a number of major crypto companies facilitate some serious big-money acquisitions. For example, on Aug. 25, blockchain software firm ConsenSys bought out JP Morgan’s enterprise-variant of the Ethereum blockchain Quorum. Similarly, earlier this year, global cryptocurrency exchange Binance announced that it was acquiring CoinMarketCap, one of the most referenced crypto data websites. In this regard, crypto derivatives exchange FTX, too, announced on Aug. 26 that it had recently come to an agreement with Blockfolio to take over the digital asset portfolio tracker for a…