Day: September 6, 2020

Here’s the Key Level Bitcoin Needs to Break to Extend Its Macro Momentum

boss

Bitcoin has seen some mixed price action throughout the past several days and weeks, struggling to garner any sustained buying pressure as its price hovers just above its crucial support between $9,900 and $10,000. The crypto has been trading above these levels throughout the past couple of days, but the selling pressure appears to be ramping up. One analyst is even noting that the failed breakout that took place today has opened the gates for BTC to see a sharp downswing towards $9,600 – which will likely send shockwaves throughout…

Blockchain platform commercializes digital bank guarantees in Australia

boss

The Lygon blockchain platform, which runs on IBM Public Cloud, has reportedly successfully conducted its pilot since last year with Australian banks ANZ, Commonwealth Bank of Australia (CBA) and Westpac and a group of 20 Australian businesses.  Banks are expected to issue bank guarantees in just one day once they implement Lygon compared to the current paper-based guarantees that can take a month. The three Australian banks and retailers Scentre Group and IBM are planning to expand the Lygon platform for commercial use, according to a report on Sept 1.…

What Investors Get Wrong About Volatility (and Not Just for Crypto)

boss

In a week in which we are yet again reminded how sharply sentiment can shift in crypto asset markets, it’s appropriate to look at the role volatility plays in our narratives, our portfolios and our psyches.  I also want to examine what volatility is not, as its specter takes on a disproportionate influence in times of turmoil. This confusion is not unique to crypto markets – volatility is misunderstood across all asset groups. As with virtually all market metrics, however, it has particular nuances when applied to our industry.  Setting the…

Bitcoin’s plunge, Twitter hack revelation and Pornhub now accepts crypto

boss

Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers!   Top Stories This Week   Three reasons why Bitcoin suddenly dipped under $10K — and recovered It’s been a bad end to an already trying week for Bitcoin. At one point, prices fell below $10,000 across major exchanges.  Overall, the world’s biggest cryptocurrency has seen its value fall by 11.7% in recent days. Most of these losses came on Thursday when a sudden drop of 7% in less than…

This Textbook Signal Predicts Ethereum Has Room to Drop After 35% Correction

boss

Ethereum has faced a strong correction over the past few days that easily overshadows Bitcoin’s move. From the local highs near $490 to the local lows, the cryptocurrency fell by over 35%, shocking most investors as they were bullish just days before. ETH has already bounced since falling as low as $315, undergoing a rapid 14% rally to $360 on Sunday morning. While key supports in the low-$300s were held due to this bounce, more technical signals suggest that Ethereum has room to slide. Related Reading: Here’s Why This Crypto CEO…

Vid Foundation opens staking

boss

Vid Foundation, the company behind the social media app Vid which rewards users, unveiled its plans to allow more staking in its VI token. Jag Singh, CEO and Co-Founder of Vid Foundation, said in a post that new stakers would be able to join Vid and stake their tokens. Singh said that starting from September 1 and for the next three months Vid will open up staking for 14 million Vi. He stressed that existing stakers will not be affected by the move and that the APR will remain the…

‘I was wrong about Bitcoin’

boss

Gold bug Peter Schiff, who has often spoken out against Bitcoin, may be admitting that there’s at least some flaw in his predictions after acknowledging the coin did not “collapse” as gold rose to a new all-time high last month. In a Twitter exchange with Tyler Winklevoss, which began Sept. 6, Schiff traded words with the Gemini co-founder regarding Bitcoin’s rise to a yearly high of more than $12,000 on Aug. 17 and its dip under $10,000 just last week. While Winklevoss predicted the digital asset’s baseline for all future…

Microsoft warns digital currency owners to be aware of new malware

boss

In a tweet, Microsoft Security Intelligence (MSI) warned cryptocurrency owners who are also Windows users on August 27 that their funds in crypto wallets might be in danger because of a new malware. The new malware, called Anubis, seems to use code forked from Loki. It steals crypto wallet credentials, credit card details and other valuable information from these Windows users. According to MSI, it first discovered the malware in June in the cybercriminal underground. It has the same name with another potent banking Trojan that has been targeting Android…

Top 5 Cryptocurrencies to Watch This Week: BTC, ETH, LINK, NEO, XEM

boss

A short-term bottom for Bitcoin and altcoins may be confirmed if the bulls do not allow the recent lows to be broken during the next fall. The U.S. stock markets, gold, crude oil, and crypto markets have all corrected in the past week, which shows that traders booked profits in most asset classes. The total crypto market capitalization corrected from a high of above $394 billion to a low of about $313 billion, which is roughly a 20% correction. This decline also led to a sharp fall in Bitcoin (BTC)…

Here’s Why the Bitcoin Price Could Soon Retest $11,000

boss

Over the past few hours, Bitcoin has undergone a strong bounce from its local lows at $9,800, trading at $10,300 as of this article’s writing. This $500 bounce marks a positive trend for an asset that has shed 20% in the span of four days. Fortunately for bulls, a number of technical analyses indicate that Bitcoin has room to rally. This can be corroborated by the state of BTC futures markets, most of which are printing negative funding rates in a sign that bears are overconfident. Related Reading: There’s an “Unusual”…