Day: September 28, 2020

Bitwise Bitcoin Fund Doubles to $9M as Investor Fears Grow Over Runaway Inflation

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Accredited investors worried about out-of-control inflation have poured millions into Bitwise’s bitcoin fund as a means to preserve the value of their portfolios. An amended filing with the Securities and Exchange Commission (SEC) last week showed the asset manager had raised, in total, just under $8.9 million for its Bitcoin Fund, which provides accredited U.S. investors with exposure to bitcoin through a traditional product. This marks the single-largest increase in assets raised in the fund’s two-year history. A filing from 2019 shows the Bitcoin Fund had attracted $4.1 million in…

Top DeFi Coins Maker, Compound, & More Slip 5% Despite Positive Fundamentals

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It’s been a great past day for Bitcoin but not for DeFi coins. After stagnating around $10,700, BTC surged higher to a local high around $10,950 — the highest price in around a week. Decentralized finance coins, on the other hand, have slipped lower. According to data from CoinGecko, some of the top DeFi coins have posted losses in the past 24 hours of around 5%. The coins that have done so include Maker (MKR), Compound (COMP), and Synthetix Network Token (SNX). This comes in spite of continued strength in…

5 things shaping Bitcoin price action this week

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Bitcoin (BTC) starts the week pushing for $11,000 as ranging behavior continues, but futures gap danger remains. Cointelegraph takes a look at five factors that could shape Bitcoin price action in the coming week. Trump tax files see $11,000 BTC price bounce Sunday provided an unexpected boost to Bitcoin after a week of lackluster price performance. This was thanks to an investigation into United States’ President Donald Trump’s tax records, the results of which were published by the New York Times. The details include just $750 in tax paid by…

2.5 Million of Bitcoin Supply to Be Mined before 2140

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At the time of writing, its market price was trading around $10,866.30. Notably, Bitcoin was up 32.5% in the past 12 months, down 5.9% in the past 30 days, and up 1.6% in the last 24 hours. Bitcoin, the mother of all cryptocurrencies, is counting down according to its predicted structure. The asset, created by an anonymous group 11 years ago, has hit 18.5 million Bitcoins (BTC) in circulation. Notably, there are 2.5 million Bitcoins to be mined before the exercise is closed by 2140, but of key importance is…

Amazon Prime Day Slated for October 13 and 14

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Amazon Prime Day has been scheduled for October 13 and 14. The e-commerce giant offers huge discounts with extra incentive to support small businesses. Following the initial postponement of the annual Amazon Prime Day due to the coronavirus pandemic, the shopping event is now scheduled to hold starting October 13 through 14. The company made the announcement on September 28, and according to the company, Amazon Prime subscribers will get a shopping headstart into the holiday season with “deep discounts” cutting across must-haves ranging from kid’s toys to kitchen appliances,…

Demi Lovato Proves Why Celebrity Relationships Are a Joke

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Demi Lovato has predictably broken up with her short-lived fiance, Max Ehrich. Celebrities brag about their relationships on social media, then make excuses after breaking up. Their relationship issues can’t be taken seriously if they use them for publicity. Demi Lovato and Max Ehrich have broken up following an announcement that surprised no one. The two have spent the last several months flaunting their relationship, only to peter out after a two-month engagement. This isn’t the first time this has happened to a celebrity couple and it certainly won’t be…

Cardano (ADA) Rally Could Gather Steam Above This Key Breakout Resistance

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Cardano’s price rallied more than 8% and it broke the $0.1000 resistance. ADA is likely to accelerate higher once it surpasses the key $0.1050 resistance zone. ADA is up over 8% and it broke the $0.1000 resistance zone against the US dollar. The price is currently testing the $0.1050 resistance and trading above the 100 simple moving average (4-hours). There was a break above a crucial bearish trend line with resistance near $0.0872 on the 4-hours chart of the ADA/USD pair (data source from Bitfinex). The pair is likely to…

Bitcoin Balances on Exchanges at 2-Year Low and That May Be a Bullish Sign

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The balance of bitcoin on major exchanges has hit its lowest levels since November 2018. Yet unlike that time, when bitcoin was in the depths of the crypto winter, some see this current spate of low bitcoin balances on exchanges as a sign that a new generation of investors is putting its money in it for the long term. Total Bitcoin Balances on All Exchanges(Glassnode) The last time bitcoin balances on exchanges were at this low a point was in November 2018, according to data from Glassnode. A hard fork…

Decision Time for Ethereum: Technicals Suggest a Crucial Breakout Pattern

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Ethereum is slowly moving into a positive zone above the $350 resistance against the US Dollar. ETH price must break the $362 and $365 resistance levels to continue higher. Ethereum traded above the $350 and $355 resistance levels to move into a positive zone. The price seems to be forming a support base above $350 and the 100 hourly simple moving average. There is a key ascending channel forming with support near $352 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher…