Day: September 29, 2020

Bitcoin is on Shaky Ground as Analysts Target Move to Lower Lows

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Bitcoin’s price action has been flashing warning signs to investors throughout the past few days, with buyers and sellers largely reaching an impasse as the cryptocurrency struggles to garner any clear momentum. Its stalling uptrend has come about due to the intensity of the resistance between $11,000 and $11,200. Each tap of this region has catalyzed intense selloffs. Analysts are now offering mixed outlooks on BTC, widely noting that its mid-term trend hinges almost entirely on its reaction to $11,000. Because it has so far struggled to gain enough momentum…

Bitcoin News Roundup for Sept. 29, 2020

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With bitcoin back in the driver’s seat and the Filecoin launch fast approaching, CoinDesk’s Markets Daily is back for your latest crypto news roundup! Some traders have been moving funds out of alternate cryptocurrencies into bitcoin (BTC) in anticipation it outperforming the entire crypto market for at least the next several months.  Ethereum testnet Spadina gives developers one more crack at practicing with Eth 2.0’s deposit contract before the real deal arrives. The now-renamed California department responsible for the regulation of financial services will soon have more powers to supervise…

What the COVID-19 pandemic means for blockchain and crypto

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In March 2020, COVID-19 was declared by the World Health Organization to be a pandemic. Just over six months after that declaration, there have been almost 33 million cases of the disease worldwide and nearly 1 million deaths. While most of the stories from the pandemic involve its astronomical cost in terms of human life and suffering, the disease has also revealed a number of problems in our global economic infrastructure. A surprising number of these weaknesses might be addressed, or at least reduced, with blockchain technology. As a result…

Crypto and blockchain won’t catch on until they’re actually useful

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A perennial question surrounding blockchain technology is: When will it make a mainstream impact? Understandably, enthusiasts in the industry are anxious to see this technology live up to its promise of empowering consumers, accelerating cross-border payments and bridging the financial inclusion gap for the under- and unbanked. The reality is that today, its scope is limited. From what little data we have available about cryptocurrency adoption, we see that the pool of active users is relatively small in size and scope — largely millennial and largely male. Related: Crypto could…

Should Bitcoin traders be worried about lower highs ever since $12K?

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The previous months have given incredible volatility across the boards, including Bitcoin (BTC). However, in recent weeks, the volatility drastically decreased to a state of boredom. The overall momentum and bullishness have left the crypto markets only to be replaced by range-bound sideways movements. In other words, very boring.  However, what is the crucial Bitcoin price level to watch for in the coming week? Let’s take a look at the technicals.  Bitcoin facing $10,800 as short term breaker for upward continuation BTC/USDT 2-hour chart. Source: TradingView The 2-hour chart is…

Virgin Galactic Shares Up 1.5%, SPCE Stock Bullish Call Gets Rebuffs

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Virgin Galactic (SPCE) stock closed 24.83% higher on Monday and rose 1.56% in pre-market today. Following a Coinspeaker report on the bullish call on Virgin Galactic Holdings Inc (NYSE: SPCE) stock price by Bank of America Corp (NYSE: BAC), two analysts have expressed an almost antagonistic price call for the stock. Per the report from CNBC, Nancy Tengler, chief investment officer at Laffer Tengler Investments, noted that the customer base may not be there for Virgin Galactic (SPCE) to make good of the bullish stock price call previously placed by…

First Mover: Binance CEO Sees Future in DeFi While Bitcoin Volatility Turns Minuscule

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It might be part of every job in crypto to anticipate and react to fast-moving developments that seemingly change the industry’s direction overnight.  And apparently not even Changpeng “CZ” Zhao, the high-profile leader of Binance, the world’s largest cryptocurrency exchange, is immune to the industry’s capricious shifts.  In a video interview with CoinDesk’s Muyao Shen, Zhao acknowledged that the emerging blockchain sector of decentralized finance, known as DeFi, could eventually upend the business that Binance has grown to dominate: running a centralized cryptocurrency exchange. “Our mission is not to build a CeFi…

LINK May Fall by Another 40% as Price Validates Bearish Pattern

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As LINK trends lower and leave behind a trail of lower highs and lower lows, the decentralized finance token is forming a Descending Channel. LINK trade setup hints at a further breakdown. Source: TradingView.com LINK trade setup hints at a further breakdown. Source: TradingView.com The area between the green trendlines has been where the LINK downtrend is taking place since August 15. After posting a humongous 1,500 percent price rally, the token corrected lower by as much as 65 percent from its yearly top at $20.62. LINK’s downside move also…

Blockchain technology now powers a privacy-focused security camera

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IoTeX, a privacy-focused platform for the Internet of Things, has partnered with camera manufacturer Tenvis Technology to offer Ucam, an indoor security camera powered by blockchain technology. Head of business development at IoTeX Larry Pang told Cointelegraph that Ucam users can access their camera data through a decentralized system and log in with an “uncrackable” password. The camera or a user’s mobile phone handles all the computing, meaning decryption occurs on the devices, letting users control their own data. “A private key is used to end-to-end encrypt all the data,” said…