Day: September 23, 2020

IoT Startup Helium Floats New Hardware Device for Mining Its HNT Crypto Tokens

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Helium’s plan to create a decentralized wireless network may be about to gain altitude. The company, which aims to create a token-powered wireless network for Internet of Things (IoT) devices, announced Tuesday it’s no longer the sole manufacturer of Helium hotspots, which create the Helium network by mining the project’s HNT cryptocurrency.  RAK Wireless, a China-based manufacturer of IoT hardware will begin selling a new, cheaper version of the hotspot, potentially giving the whole enterprise a lift. Quick refresher: Helium aims to create a new kind of wireless network, one…

Star Girl’s one million active users go with the Flow blockchain

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Dapper Labs is continuing to expand partnerships with third-parties for its Flow blockchain, with Animoca Labs set to launch two crypto-powered games on Flow. On September 22, blockchain gaming firm Animoca Brands announced that its MotoGP and Star Girl games will launch on the Flow blockchain early next year. Animoca is an investor in Dapper Labs. The Star Girl series consists of multiple free-to-play mobile games owned by Animoca and claims a monthly user base of one million players. Dapper Labs’ chief business officer, Mik Naayem, welcomed Animoca’s titles onto…

Ethereum Price Action Suggest More Downsides Below $330: Here’s Why

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Ethereum is struggling to recover above the $345 and $350 resistance levels against the US Dollar. ETH price is likely to continue lower below $330 unless it recovers above $355. Ethereum corrected a few points higher, but it failed to climb above the $350 level. The price is declining below $345 and it is well below the 100 hourly simple moving average. There was a break below a key contracting triangle with support near $340 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to…

Tokenized BTC Crosses $1B Notional: Ethereum Cements Role as Bitcoin’s Main Sidechain

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Years ago when the Bitcoin network started suffering from higher fees and congestion, a number of bitcoiners advocated the use of sidechains in order to relieve the main chain’s duties. However, they didn’t realize that the Ethereum network would solidify its role as Bitcoin’s main sidechain during the last year. Five years ago, bitcoiners relentlessly argued over scaling the Bitcoin (BTC) blockchain and a number of proponents said that sidechains and offchain solutions would help. Moreover, a number of solutions like Blockstream’s Liquid and the RSK network launched. Many supporters…

Technicals Indicate Bitcoin Bears Are Likely To Protect Upsides Above $10,600

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Bitcoin price started consolidating losses after a sharp decline to $10,300 against the US Dollar. BTC is likely to face a lot of hurdles near $10,550, $10,600 and $10,650. Bitcoin is slowly recovering higher from the new weekly low at $10,302. The price is still below the $10,550 resistance and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $10,680 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct higher, but the bears are likely…

This On-Chain Indicator Signals Bitcoin May Soon Go Parabolic

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Bitcoin’s price action has been largely favoring sellers throughout the past several days and weeks, with bulls unable to catalyze any strong momentum while the cryptocurrency continues facing intense selling pressure each time it attempts to push higher. The lack of sustainable momentum seen throughout the past few days and weeks has struck a serious blow to the benchmark digital asset’s technical outlook. Part of this weakness has come about due to the turbulence seen within the stock market, coupled with mounting strength seen by the US Dollar. Despite not…

Bitcoin Could Soon Enter a “Nose Dive” as Gold Loses Key Support Level

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Bitcoin has slipped below crucial support levels after peaking at $11,200 last week. The coin now trades at $10,400 as of this article’s writing, below supports in the $10,500-11,000 range that is so important for BTC. Bitcoin’s drop comes as the price of gold has dropped lower, towards $1,900, then under it. Both assets seem to be moving in tandem due to the strong force the U.S. dollar has on all markets. The U.S. dollar is up from the lows of a few weeks ago as fiscal stimulus has slowed.…

Bitcoin Traders Say Options Market Understates Likelihood of Chaotic US Election

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The November U.S. presidential election could be contentious, yet the bitcoin market is pricing little event risk. Analysts, however, warn against reading too much into the complacency suggested by the volatility metrics.  Bitcoin’s three-month implied volatility, which captures the Nov. 3 election, fell to a two-month low of 60% (in annualized terms) over the weekend, having peaked at 80% in August, according to data source Skew. Implied volatility indicates the market’s expectation of how volatile an asset will be over a specific period.  Bitcoin’s expected volatility over the next few…

Bitcoin Weekly Momentum Flips Bearish For The First Time Since April

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With Bitcoin holding strong above $10,000, the halving in the past, and months of positive price action, it is hard to not be bullish on the first-ever cryptocurrency. However, a momentum measuring tool has flipped bearish for the first time since April 2020 on weekly timeframes, potentially pointing to $10,000 failing to hold and a deeper correction ahead. Here’s what the technical analysis tool is saying and what has resulted from past bearish crossovers of the MACD. What is The MACD And Why Is It Flipping Bearish Bad For Bitcoin?…

Goldman Sachs’ Boeing Recommendation Is a Portfolio Disaster

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Goldman Sachs added Boeing to its conviction buy list. The airline manufacturer was already in trouble before the pandemic. Order cancellations and changing travel patterns suggest it’s way too early to buy. Goldman Sachs just added Raytheon and Boeing to its conviction buy list because they have a large number of defense contracts— typically a steady business. While that’s true for Raytheon, Boeing still looks like a disaster for investors who follow Goldman’s advice and buy now. Goldman’s Case for Boeing Goldman’s analysis for Boeing comes down to one thing…