Day: September 8, 2020

$700 Million Worth of Synthetic Bitcoin Is Circulating on the Ethereum Blockchain

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According to onchain data, there’s now 69,836 synthetic bitcoin tokens (over $700 million) circulating on the Ethereum blockchain. Out of the six synthetic bitcoin token projects, wrapped bitcoin (WBTC) commands the largest number of coins with over 63% and 44,622 WBTC. Synthetic bitcoin (BTC) has grown massively in recent weeks and since news.Bitcoin.com’s last report on the subject, there was 38,021 BTC circulating on the Ethereum chain. Since then, that metric has jumped more than 83% as there’s now 69,836 synthetic bitcoin tokens in the wild on September 7, 2020.…

Bitcoin “Distribution” Could Lead To Another Arm And A Leg Down

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Bitcoin price recently collapsed from $12,400 to under $10,000 after the cryptocurrency presented a near-perfect distribution pattern. If the pattern continues, the market could form a massive head and shoulders top, with a price target of significantly lower. Distribution Pattern Costs Crypto Investors An Arm And A Leg Bitcoin price over the last several weeks had formed what by comparison appeared to be a clear distribution pattern. After the $2,000 plunge last week, that pattern may have been confirmed, now that the first-ever cryptocurrency is trading at around $10,000. Related…

This Chainlink (LINK) Fractal Predicts the 50% Correction Is Over

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Chainlink has experienced a strong correction over the past few days as Bitcoin and Ethereum has dropped. The leading cryptocurrency dropped over 50% from its all-time high around $20 to local lows around $9 in the span of a few weeks. The cryptocurrency has since bounced. According to CoinGecko data, LINK now trades for $11.50, bouncing in tandem with Bitcoin, Ethereum, and other top cryptocurrencies. Although BTC remains on thin ice due to its inability to reclaim $10,500 as support, an analyst is optimistic that LINK has room to rally…

Cardi B Has Science on Her Side in Her Showdown With Candace Owens

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Candace Owens said Sunday that Cardi B fans are illiterate in a tirade against the rapper and Democratic candidate Joe Biden. The ensuing war of words rocked multiple fandoms across the entertainment/political divide: Teams Owens, Shapiro, Biden, Cardi, and Trump. But one study spanning decades found Candace Owens might be wrong. More literate women tend to have more WAPs, as Cardi would say. Cardi B and Candace Owens are beefing, and Twitter can’t seem to decide who’s winning. Among the pointed barbs thrown in this war of words, Owens called…

Bitcoin Tapping This Key Trendline Could Spark an Explosive Move Higher

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Bitcoin has been seeing some rocky price action throughout the past couple of days. There has been an err of caution amongst investors in recent days, with Bitcoin’s position around $10,000 suggesting that its price action in the coming few days and weeks will be pivotal for understanding where it will trend in the days, weeks, and months ahead. Earlier today, bears did try to break the support that sits at $10,000, and they were almost successful. After pushing BTC as low as $9,900, the cryptocurrency’s price saw a massive…