Day: September 21, 2020

How The Dollar (DXY) Index Is Responsible For Today’s Bitcoin Carnage

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Bitcoin price is down $800 in just over 24 hours, and elsewhere in the finance space, there is pure carnage. Gold fell below $1900, and stocks are downward spiraling. And behind it all is the dollar. But why is the Dollar Currency Index (DXY) potentially responsible for the market-wide collapse and what exactly is driving it? Bitcoin Price Collapses $800 In Early Week Selloff, Another Test of $10,000 Next? Bitcoin price tapped over $11,000 one last time before a deadly drop began later Saturday night and into Sunday. The drop…

Chamath Palihapitiya’s Social Capital Holds Bitcoin From 2013 Amid Talk of Public Listing

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A Silicon Valley fund manager holds bitcoin purchased seven years ago as it mulls being publicly traded. Palo Alto, Calif., investment firm Social Capital invested in bitcoin (BTC) in 2013, CEO Chamath Palihapitiya revealed Wednesday in an investment conference call. Bitcoin was trading between $13 and $1,200 in 2013 and today trades around $10,000, according to Coin Metrics data. Palihapitiya made the disclosure on a Sept. 16 call about Social Capital’s plans to list Opendoor on the New York Stock Exchange through Social Capital Hedosophia II, one of six special…

“Intense” Bitcoin Whale Exchange Flow Could Be Behind Weekend Crash

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Bitcoin went into the weekend on a strong note, taking out $11,000 and holding above it. But after the cryptocurrency made an attempt at $11,200 a rejection has the asset’s price back to $10,500 where its now at risk of a steeper correction. Blockchain data shows that the weekend crash could have been driven by whales offloading their BTC. But why did the flow of “whale” funds suddenly get so “intense” and what does this say about how deep the correction goes? Live From Saturday Night! Weekend Bitcoin Price Pump…

Blockchain-Powered Brand KIM Diamond Announces Flagship Store and Selene Moon Goddess Jewelry Line

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Place/Date: Chengdu, China – September 21st, 2020 at 4:46 pm UTC · 2 min read Contact: Kim Dimond, Source: KIM Jewelry KIM Jewelry KIM Diamond is a China-based, blockchain powered Fintech jewelry brand that focuses on sourcing loose diamonds from mines for making exquisite jewelry pieces. The brand was unveiled in Chengdu on September 16, 2020, and announced its Selene Moon Goddess line along with the KIM blockchain technology. The press conference took place at ‘Top 10 ULI prize winning hotel’ The Temple House, and was attended by hundreds of…

Apple Accuses Epic Games of ‘Marketing’ with Fortnite Lawsuits, Epic Counters the Claim

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As Apple and Epic Games continue their lawsuits exchange, the game developer recently countered a “false” claim by Apple. AAPL stock is down. Recently, Apple Inc (NASDAQ: AAPL) said that Epic Games is “marketing” with the Fortnite lawsuits as its popularity has reduced 70%. In contrast, Epic said that the online video game’s active users rather increased by nearly 40%.  Over past months, there have been several reports on the Apple and Epic Games battle. The dispute started when Epic Games began a new payment method for Fortnite. With the…

Bitcoin price failure at $11K moves focus back to sub-$10K CME gap

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Bitcoin’s (BTC) price has been showing some slight strength in the previous week as BTC rallied from $10,000 to $11,200. However, the crypto market’s overall consensus has been showing weakness with double-digit selloffs for many of the smaller-cap cryptocurrencies. This selloff appears to have taken hold as Bitcoin price confirmed $11,200 as resistance in the previous weekend. Rejection as $11,200 leads to a downward spiral BTC/USD 1-day chart. Source: TradingView In the previous analysis, the $11,000-$11,200 level was identified as a substantial resistance area to break. The significance of this…

The MicroStrategy Effect? This Firm Is Helping Businesses Save in Bitcoin

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The COVD-19 pandemic and its accompanying monetary policy have caused a surge in demand for bitcoin, and now companies are eying “digital gold” to protect their treasuries from cash depreciation. Announced Monday, bitcoin financial services firm Unchained Capital has released an “advanced business account” specifically targeting firms that not only want to hold bitcoin but want to handle their own private keys rather than rely on some third-party crypto custodian (in keeping with the ethos of “not your keys, not your bitcoin”).  The impetus to launch this service is straightforward…

Indicator Shows Bitcoin’s Selloff May be Running Out of Steam

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It has been a rocky past day for Bitcoin, with the benchmark crypto posting massive losses as buyers struggle to garner significant momentum. This selling pressure has sent shockwaves throughout the entire cryptocurrency market, causing altcoins to see massive selloffs that have erased the bulk of their recent gains. One trader is specifically noting that the cryptocurrency could be on the cusp of seeing its ongoing selloff come to an end, however, as one indicator points to slowing downside momentum. That being said, the declining delta seems to indicate that…

Bitcoin News Roundup for Sept. 21, 2020

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With bitcoin down amid broader market turmoil, CoinDesk’s Markets Daily is back for your latest crypto news roundup! Bitcoin is dropping alongside stocks as soaring cases of COVID-19 threaten economic activity in Europe. The nation would wield stronger influence in the world as a result of the digital yuan issuance, according to a magazine from the People’s Bank of China (PBoC) Kraken’s move to become a bank in Wyoming is more about getting traditional finance to adapt to the crypto industry than the other way around. Original