Day: September 4, 2020

3 Key Reasons Why Bitcoin Could Bounce After $2,000 Drop

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Bitcoin has experienced a strong drop in the past 48 hours after a strong rally to start the week. The leading cryptocurrency now changes hands for $10,300 after it underwent a strong $2,000 correction that brought it as low as $9,990 on Friday morning. There are crucial reasons why the cryptocurrency could soon undergo a strong bounce. Traders are critically eyeing the $10,500 as we head into the weekly close due to that level’s macro importance to BTC’s price action. Bitcoin should bounce soon if it is to maintain its…

Denmark Backs Blockchain Technology As Instrument to Fighting Runaway Political Corruption

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The Danish government, through the Ministry of Development Cooperation, has launched a new report during the International Anti-Corruption Conference (IACC) which highlighted the importance of blockchain technology in the fight against government corruption, which has proven to be a nightmare for many global administrations. Blockchain-enabled whistleblowing Corruption hinders the optimization of governmental functions as the allocated resources do not trickle down to address the needs of a nation’s citizens. The Danish government trusts that the digitalization of public services and procurement through blockchain technology can boost transparency in the administration…

Research: New Malware Employs Tor and Bittorrent To Steal Bitcoin and Ether

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A new trojan called Krypto Cibule uses infested computers’ power to mine cryptocurrency, steal crypto wallet files, and redirect incoming digital assets to a hacker address. The malware rides on the Tor network and the Bittorrent protocol to perform attacks, according to an extensive report by cybersecurity company, ESET. “Krypto Cibule is spread through malicious torrents for ZIP files whose contents masquerade as installers for cracked or pirated software and games,” researchers Matthieu Faou and Alexandre Cote Cyr, detailed in their report published September 2. The malware is mostly active…

Bitcoin market index back to ‘fear’ on 91st anniversary of 1929 crash

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Bitcoin (BTC) may be testing $10,000 but further losses would not be unusual, says an asset manager on the 90th anniversary of the Wall St. Crash. In a tweet on Sep. 4, Raoul Pal said that the past 24 hours’ BTC price declines were nothing out of the ordinary. Pal eyes Bitcoin buying opportunity “In the post-Halving bull cycles, bitcoin can often correct 25% (even 40% + in 2017), throwing off the short-term traders (or giving swing traders a shot at the short side),” he wrote.  “Each of those was…

Tesla GigaFactory in Berlin Has the Support of the German Government

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Already in November 2019, Elon Musk revealed that the Tesla gigafactory will be in the “Berlin area” and will be specifically located very close to the city’s new airport. The Chief Executive Officer (CEO) of electric automaker Tesla Inc (NASDAQ: TSLA) Elon Musk has been reassured  by key officials in the German cabinet that he will have everything he needs to launch the new gigafactory on the outskirts of Berlin. The billionaire CEO has been on a tour in Germany and had an hour-long meeting with Peter Altmaier, Germany’s economy…

History Says A September Stock Market Crash is Overdue, Even in 2020

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A cyclical pattern in equities markets suggests a stock market crash is on the horizon. The present is alarmingly similar to that of 1986 and 2000 when the S&P 500 fell 8.5% and 5.4% in September after a bullish August. The professionals managing big institutional money are taking shelter for a September market crash. September is historically the worst month of the year for stocks on average since 1950. There are many theories why. One goes that money managers back from vacation in the summer exit all the positions they…

SBI Holdings to set up blockchain-based digital stock exchange in Osaka

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SBI Holdings, Japanese financial giant and a major blockchain-focused institution, is reportedly planning to set up a blockchain-based digital stock exchange. Yoshitaka Kitao, president and CEO at SBI Holdings, announced the company’s plans to collaborate with Osaka Prefecture to establish a new global financial hub. The new international financial center is will purportedly be located in Osaka and Kobe, Nikkei reports on Sept. 2. SBI is planning to launch a digital stock exchange based on blockchain technology. The exchange is expected to attract global fintech companies and contribute to the…

Binance takes on DeFi with Uniswap competitor and liquidity mining

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Crypto exchange giant Binance is delving deeper into the world of DeFi-style products with its latest offering, an automated market maker called Binance Liquid Swap. Aimed directly at Uniswap and its clones, Binance will launch an AMM liquidity pool that allows users to provide liquidity by depositing tokens. Just like the world’s most popular decentralized exchange, Binance Liquid Swap will also enable users to earn interest in addition to a cut of the trading fees for the pool. It’s the first AMM pool product on a centralized exchange and will…

$0.22: Ripple (XRP) Bears Aim Big After Recent Slide Below $0.25

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Ripple declined heavily along with bitcoin and ethereum against the US Dollar. XRP price even broke the $0.2500 support zone and it is currently correcting losses. Ripple is down over 10%, and it broke the $0.2620 and $0.2550 levels against the US dollar. The price traded to a new weekly low at $0.2372 and it is now well below the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $0.2560 on the hourly chart of the XRP/USD pair (data source from Kraken). The…

DOCU Stock Tanks 9% Despite DocuSign Reporting Good Q2 Earnings

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With the rise in the work-from-home culture due to the COVID-19 pandemic, DocuSign (DOCU) stock has been the top pick of Wall Street investors surging nearly 350% year-to-date. On Thursday, September 3, the stock of DocuSign Inc (NASDAQ: DOCU) plunged nearly 9% after a massive bull run this year. DocuSign has largely benefited from the shit in work-from-home caused by the coronavirus pandemic. Before Thursday, the DOCU stock surged more than 350% year-to-date. However, it seems that investors are taking a pause after a continuous rally at Wall Street. Post…