Day: September 24, 2020

3 reasons why traders turned bullish after Bitcoin price surged to $10.7K

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Today the price of Bitcoin (BTC) abruptly rose by 6% from $10,136 to as high as $10,743.  After this powerful 24-hour rally, analysts are now turning cautiously bullish for various reasons but will Bitcoin price be able to tackle the $11K mark any time soon? Cryptocurrency daily market performance snapshot. Source: Coin360 Currently, the factors that appear to be lifting investor sentiment are negative funding rates, BTC whale activity, and the U.S. dollar’s recent weakness. Funding rates are neutral or negative at most exchanges BTC/USD daily chart. Source: TradingView.com At…

General Motors Will be Left With Junk Stock If It Closes Nikola Deal

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Nikola’s stock has tumbled following a series of allegations by a short-seller. The company’s founder resigned from his executive chairman’s position just days ago. The value of GM’s promised stake in the new energy automaker has now halved. General Motors has until September 30th to change its mind regarding the partnership deal it announced with Nikola earlier this month. Despite the renewable energy carmaker’s mounting problems, GM is intent on closing the deal as its spokesperson Jim Cain told Reuters earlier this week: We will work with Nikola to close…

Brazil plans to track COVID-19 vaccinations using blockchain tech

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A recent YouTube webinar from the Ministry of Justice and Public Security hosted discussion on blockchain’s usefulness in several categories, including the fight against corruption. Blockchain’s impact on COVID-19 tracing also surfaced during the discussion.  A report from Reuters at the beginning of September clarified that the country is not likely to push a mandatory vaccine, while Sept. 9 news reported by MercoPress estimated a 2021 debut date for a COVID-19 shot in the country.  Brazil now plans to use a blockchain-based system called the National Health Data Network, or RNDS.…

Israeli Draft Bill Would Nix Hefty Capital Gains Taxes on Bitcoin

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Israeli bitcoiners take note: a handful of Knesset members are seeking to ease Israel’s hefty taxation of cryptocurrencies. Four Knesset members from the nationalist Yisrael Beiteinu party on Tuesday introduced a draft bill that would effectively end Israel’s 25% capital gains tax on bitcoin by redefining certain “distributed digital currencies” as currency, instead of a taxable asset. Original

Chainlink Forms Classic Reversal Pattern as Analysts Eye Further Upside

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Chainlink saw a bout of capitulation yesterday that came about after a multi-week downtrend. This came in the form of a sharp decline that sent its price reeling from highs of $20.00 to lows of nearly $7.00 before it found some strong support. The cryptocurrency’s lackluster price action has struck a serious blow to its technical outlook, but the rebound seen from its overnight lows could still mark a long-term bottom. Since dipping towards the lower-$7.00 region, LINK’s price has been able to climb up to highs of over $9.00.…

Has Jamal Murray Become a Top 5 Point Guard in the NBA?

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Jamal Murray entered this season as a slightly above average point guard with a lot of potential. He’s had a historic playoff run that will force many people to reconsider his place among the elite. Although he’s never made an all-star team, Murray can make a claim as a top-five point guard in the league. Jamal Murray can’t be stopped. He’s been on an epic tear in these playoffs. After going down 1-3 to the Utah Jazz, doubters were sure the Nuggets were done. They were especially sure after the…

Market Wrap: Bitcoin Hits $10.7K; Options Market Likes Sub-$360 Ether

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Bitcoin had a small rally Thursday. Meanwhile, the ether options market is giving some investors protection from decentralized finance downsides. Bitcoin (BTC) trading around $10,653 as of 20:00 UTC (4 p.m. EDT). Gaining 3.3% over the previous 24 hours. Bitcoin’s 24-hour range: $10,135-$10,736. BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since September 22. (TradingView) Bitcoin’s price made gains Thursday as the world’s oldest cryptocurrency began a modest rally at around 15:00 UTC (11 a.m. EDT). It jumped $343 to…

TRON and BitGo Strategic Alliance Takes DeFi to New Heights

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Place/Date: SAN FRANCISCO, CA – September 24th, 2020 at 8:23 pm UTC · 3 min read Contact: Ryan E. Dennis, Source: TRON, one of the largest and most popular blockchain-based operating systems in the world, has entered a strategic alliance with BitGo, the leader in digital asset financial services, to bring Wrapped Bitcoin (WBTC) and a newly minted Wrapped Ether to the TRON ecosystem as TRC20 tokens. Wrapped Bitcoin (WBTC) is pegged to Bitcoin and has over $820 million USD worth of Bitcoin in custody, while Wrapped Ether will be…

Yearn.finance (YFI) On “Life Alert” After Weak Attempt To Hold Support

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Yearn.Finance (YFI) had such an abrupt rise to fame, now that momentum has changed, the plunge could be equally as dramatic. Thus far, any attempt to hold above support has been weak, says one crypto analyst. They also claim that YFI is currently on “life alert” and in danger of a much more drastic fall if the DeFi token cannot hold strong here. Yearn.Finance Falls Back To Support At Recent Local Low, Lingering On “Life Alert” The popularity in DeFi tokens like Yearn.Finance, LEND, UNI, and several others have been…

WTF happened in 1971 (and why the f**k it matters so much right now) – Cointelegraph Magazine

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If you’ve ventured on to Crypto Twitter this year, you may have seen a tweet from the meme account WTF Happened in 1971? Created in March, the account posts numerous times a week to its fast growing fanbase of 10,500 followers. A typical post features a graph that shows how inequality has grown in recent years, inflation has skyrocketed and how ordinary people are being priced out of houses and stocks due to low wage growth. Somewhere on the chart there will be a little arrow pointing at 1971, which…