Day: September 22, 2020

Marty Bent on Why Bitcoin and Big Energy Are Unlikely Allies

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Bitcoin mining can help big energy companies produce more efficiently, increasing American energy independence in the process. Our main discussion features Marty Bent. Marty is the author of one of the best known daily bitcoin newsletters, as well as the host of “Tales From The Crypt” podcast. He also is one of the leaders of Great American Mining, a new project using bitcoin mining to make big energy more efficient and profitable.  In this discussion, we talk about how bitcoin and big energy are unlikely allies, how that alliance can…

Dow Edges Higher Amid Fed Inflation Pledge, Strong Trump Polling

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The Dow Jones rallied over 100 points before paring gains. Jerome Powell’s testimony did little to move the U.S. stock market as he remains cautious about the future. Trump’s polling continues to suggest a highly competitive election in November. The Dow Jones reversed losses on Tuesday, as the U.S. stock market continues to consolidate. A cautious Jerome Powell did little to boost the mood with predictable testimony in Congress, while election polling continues to flash warnings of a turbulent election period. Dow Jones Edges Higher After Powell Testimony All three…

Tokenized Bitcoin on Ethereum Now Tops $1.1 B: Here’s Why

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To the surprise of many, bitcoin (BTC) has been a breakout star in Ethereum’s decentralized finance (DeFi) moment. Called wrapped or tokenized bitcoin, the digital asset takes the best of both blockchains – bitcoin’s price value and brand with Ethereum’s programmability – into one highly in-demand token.  Last week alone, the supply of BitGo’s wrapped bitcoins (WBTC) topped 76,000 after setting an all-time record of nearly 21,000 wrapped bitcoins minted within one week.  The week before held the previous record of over 12,200 tokens minted in a single week, according…

Missed Amazon’s March Madness? Wall Street Just Signaled a Bull Run

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Bernstein just raised its rating on Amazon from ‘market perform’ to ‘outperform.’ Every major analyst is now bullish on the e-commerce giant. Amazon is benefiting from the shift to e-commerce. After plunging to a low of $1,626.03 on March 16, Amazon stock has had a fantastic rally. Shares soared by 118% to hit $3,552.25 on September 2. The e-commerce giant started to dive the following day amid a larger mega-cap tech selloff that dragged down the entire stock market. Shares are down 13% for the month. Amazon Stock Will Have…

Bitcoin price hits $11,100 wall and drops 6% — Relief rally to follow?

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The price of Bitcoin (BTC) brutally rejected the $11,100–$11,300 resistance range with a 6% drop. Following the steep pullback, analysts remain cautiously optimistic toward BTC and the rest of the cryptocurrency market. Analysts have generally attributed the short-term fall of Bitcoin to the uncertainty around the COVID-19 pandemic. On Sept. 21, the Dow Jones Industrial Average fell by over 800 points at the day’s lowest point. Bitcoin, gold and other risk-on assets fell in tandem, causing a sell-off across most asset classes. The recent pullback was similar to the market…

Crypto​.com reverses ‘illegitimate trades’ amid prolonged downtime for the exchange

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A database issue has led to prolonged downtime for the Crypto​.com exchange. According to a series of tweets published by platform’s CEO, Kris Marszalek, the exact cause of these issues remains unknown. Marszalek did confirm, however, that some users had taken advantage of the situation by manipulating the ETH/USDT price prior to the outage. These users locked in gains by selling other crypto “en masse”, allowing them to conduct what the CEO referred to as “illegitimate trades.” After discovering the situation, the company placed its services into offline mode. Attempts…

How BTC Held On Exchanges Matches Bitcoin’s Deadliest Drop Yet

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Several signs indicate that Bitcoin is potentially on the brink of a new bull market, and much higher prices are ahead. However, one seemingly bullish sign that investors are preparing for mark up, is actually at the same level as just prior to the collapse to the cryptocurrency’s bottom. Are looks this deceiving, and Bitcoin is about to take a similar plunge once again? Or is this potentially bullish signal the first real indication that the bull run is here? Investors Move BTC Off Of Crypto Exchanges At Hastening Rates…

Blockchain Bites: OCC’s Stablecoin Guidance, EU’s Digital Euro Plans, Chamath’s Bitcoin

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The OCC published guidance clarifying that federally-regulated banks can work with stablecoin issuers, the ECB thinks stablecoin is a “misleading” term and a group of banking veterans has spun up a new crypto fund.  Top shelf Bitcoin fundsBanking veterans who have steered divisions at HSBC, Barclays, Citigroup and Merrill Lynch in the Asia-Pacific region are ditching traditional finance to invest in cryptocurrencies. Their new crypto fund, Liquibit Capital, will manage assets worth $50 million and will arbitrage a portfolio of bitcoin, bitcoin cash, ether, litecoin and eos, custodied with Fireblocks, with an…

Rob Gronkowski Is Hurting His Brand with Uninspiring Comeback

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From the moment Rob Gronkowski retired, fans suspected he’d mount a comeback—which he teased fans about mercilessly for the last year. When the Tampa Bay Buccaneers acquired Tom Brady, no one was shocked when Gronkowski announced he was coming back to join him. So far, his comeback has not been going too well. When Rob Gronkowski announced he was mounting a comeback and it would be with his friend Tom Brady in Tampa Bay, fans were excited. They hated to see arguably the greatest tight end ever call it quits…

Bitcoin Likely to Decouple from Stock Market in Coming Months

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Bitcoin has been forming a strong correlation to the stock market once again, with this typically occurring during times of global uncertainty. At the moment, traditional investors are consumed with fears regarding the lack of a second domestic stimulus package within the U.S., as well as the lack of progress in reeling in the pandemic. The upcoming presidential elections are also creating some uncertainty. There’s a high likelihood that these fears will go unresolved in the near-term, and this could create further turbulence amongst equities. That being said, it is…