Day: September 21, 2020

Turbulent Crypto Markets Expected – 87K Worth of Bitcoin Options Set to Expire on Friday

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Markets are expected to be volatile this week, as a great number of bitcoin and ethereum options are set to expire this Friday. Data shows more than 87,000 bitcoin options will expire and 77% of the action is held on the Deribit exchange. U.S. stocks dropped hard on Monday, as the Dow Jones Industrial Average dropped more than 700 points during the stock market’s afternoon trading sessions. Meanwhile, bitcoin (BTC) took a hit on spot markets dropping over 4% in value. A number of other cryptocurrencies like ethereum (ETH -8%)…

Uniswap’s UNI Token May Reel to $3.30 as Selling Pressure Ramps Up

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Uniswap’s UNI token launch generated massive hype for around 24 hours, leading the token’s price to surge up to highs of $8.50 before the hype faded and the cryptocurrency’s price plunged lower. It doesn’t appear that the hype will return anytime soon, as the token has since erased the vast majority of its gains and is showing heightened signs of weakness. This weakness has come about in tandem with that seen by Bitcoin and the aggregated cryptocurrency market. BTC’s price has reeled down towards the lower-$10,000 region today and is…

Price analysis 9/21: BTC, ETH, XRP, BCH, DOT, BNB, LINK, CRO, LTC, BSV

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The market has taken a bearish turn and Bitcoin and altcoins will need strong relief rallies in order to restore their uptrends. Legacy and crypto crypto markets saw a strong correction today as traders fear that the second round of economic stimulus might be delayed as the White House, Senate and Congress could become entangled in a fight to fill the vacancy created by the passing of Supreme Court Justice Ruth Bader Ginsburg.  In addition to this, financial stocks are leading the bloodbath as reports emerged that several banks could…

No, you can’t buy Venezuela’s Petro on any overseas exchanges

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A New York-based crypto exchange has listed a token with the same name as the Venezuelan state-issued asset, the Petro (PTR). In reality however, the two are entirely unconnected. Exchanges such as BitMart have recently begun listing this similarly named token for trade on their platforms. However, the Venezuelan government has not yet announced any partnerships with exchanges abroad. According to an article published by Cointelegraph Spanish, only seven local crypto exchanges offer PTR for trade in Venezuela. Two government platforms, named Plataforma Patria and PetroApp, additionally allow speculators to…

Market Wrap: Bitcoin Dips to $10.1K, Ether Drops to $330 on Sell-Off Session

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Bitcoin and ether both dropped Monday as global markets conducted a selling session. Bitcoin (BTC) trading around $10,492 as of 20:00 UTC (4 p.m. EDT). Slipping 3.6% over the previous 24 hours. Bitcoin’s 24-hour range: $10,179-$10,994. BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Coinbase since September 19. Source: TradingView Bitcoin price fell sharply Monday, with a lengthy sell-off session starting around 07:00 UTC (12:00 a.m. EDT) and dropping to as low as $10,179 on spot exchanges such as Coinbase before…

Is a Bitcoin ‘death spiral’ imminent following yesterday’s massive difficulty adjustment?

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Before the recent halving, many were prophesying a so-called “death spiral” for Bitcoin. This theory hinges on the idea that the halving of the block reward leads to an exodus of miners due to the sudden unprofitability of mining activities. As a result, the network hashrate decreases and the block time increases, meaning that miner revenue further diminishes, pushing more miners off the network. This loop would then allegedly continue until there is no one left to mine Bitcoin (BTC). Bitcoin mining difficulty. Source: Glassnode. On September 20, Bitcoin experienced…

Craig Wright Must Face Trial Over Alleged $11B Bitcoin Fortune as Request for Summary Judgment Denied

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The District Court for the Southern District of Florida has denied Craig Wright’s request for summary judgment in a case that involves claims over ownership of about 1.1 million bitcoin (worth over $11 billion).  In an order signed on Monday, Judge Beth Bloom at the Florida court denied Wright’s motion seeking summary judgment that would have prevented the matter from proceeding to a full trial.  Original

After 16% drop, traders target $250 Ethereum price — Here’s 3 reasons why

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The crypto market saw a significant correction today and Ether (ETH) price did not escape the carnage. In the last 24 hours, the top altcoin recorded a 12% drop as the price fell to $331. In the same period, Bitcoin (BTC) price slipped by 6.3% to find support near $10,300. Ether’s decline comes after a head and shoulders pattern became clear on the daily timeframe and the price slid into a shart downtrend over the past four day.  ETH/USD 1-week chart. Source: TradingView.com Three reasons are likely behind Ether’s poor…