Day: September 29, 2020

Bitcoin Expects to Hit Yearly Highs on UBS’s Bullish Gold Call; Here’s Why

boss

Bitcoin is looking to resume its uptrend towards $12,500 based on its proximity with traditional rival gold. The analogy pops out of an erratic positive correlation between the two assets that have caused them to trade in tandem since March 2020. Both gold and Bitcoin receive their cues from the same set of fundamentals: the global central bank policies in response to the coronavirus pandemic. The correlation between Bitcoin and Gold since March 2020. Source: TradingView.com The correlation between Bitcoin and Gold since March 2020. Source: TradingView.com That includes ultralow…

Is the KuCoin Hack Bigger than $150M? On the Downside of Centralized Exchanges

boss

There has been a marked decline in both the number of cryptocurrency exchange hacks and the amount of capital that has been stolen through this flavor of cybercrime. In 2018, $875 million was stolen in six major hacks; in 2019, an additional $282 million was pilfered in 11 hacks. So far this year, there have been six cryptocurrency exchange hacks. While the exact amount of stolen capital from all of these hacks has not yet been totalled, estimates show that the total amount of crypto stolen is somewhere between $220…

Bitcoin ‘difficulty ribbon’ chart hasn’t been this bullish since March

boss

Bitcoin (BTC) simply needs history to repeat itself to see significant price rises, according to two indicators now flipping bullish. On Sep. 28, on-chain monitoring resource Glassnode noted that Bitcoin’s difficulty ribbon compression had broken out of its green “buy” zone for the first time since the March coronavirus crash. Glassnode hints at “significant” BTC price increases Difficulty ribbon compression is based on difficulty ribbons, a metric devised by statistician Willy Woo as a way to gauge optimal times to buy Bitcoin. Ribbons use simple moving average values for mining…

EY Blockchain Analyzer Adds Explorer & Visualizer Solution to OnChain Data Investigator

boss

Big-four accounting and auditing firm Ernst & Young has made its Blockchain analytics tool more functional with its newly enhanced Explorer & Visualizer solution to investigate on-chain data. Per the official announcement, EY’s Explorer and Visualizer solution will aid in facilitating the analysis of blockchain activities such as cryptocurrency transactions. In Apr 2018, EY brought blockchain into its audit business with the EY Blockchain Analyzer, which helps auditors to interrogate the data and perform analysis of transactions, reconcile and identify transaction outliers. As Blockchain.news detailed, the use of the blockchain analyzer…

75-Year ‘Repressed Liquidity’ Bomb Tempts a 2021 S&P 500 Explosion

boss

Wharton professor Jeremy Siegel foresees a strong U.S. stock market in 2021, due to unprecedented levels of repressed liquidity. Siegel cited rising business productivity, potential vaccines, increased money supply, and rising worker productivity as four catalysts. Tech-heavy indices were the primary beneficiaries of the stock market rally from March to August, and the S&P 500 could benefit from it. Jeremy Siegel, a professor at Wharton, believes there is significant “repressed liquidity” in the markets. In 2021, that could trigger an S&P 500 boom, especially if supplemented with a fading pandemic. The…

Blockchain-based fantasy soccer game Sorare signs on Paris Saint-Germain

boss

French soccer club Paris Saint-Germain hasn’t dropped the blockchain baton just yet, with the club now set to issue player collectibles as rare tokens. PSG — which plays in the highest tier of French soccer —  had already partnered with blockchain platform Socios.com to launch its own “Fan Token Offering” in 2018.  This week, the club has become the 100th soccer club to join the Ethereum blockchain-based fantasy soccer game Sorare platform. PSG players Neymar and Kylian Mbappé, as well as club veterans like David Beckham, will be tokenized as…

Gemini Main-net New Upgrade, the King of the Chain is Coming – Gemini2.0

boss

2020 is the “first year of public chain competition”. As a technology that can “innovate” many industries, the upsurge triggered by blockchain has successfully attracted a large number of powerful enterprises and teams to join the blockchain camp, and blockchain projects have sprung up in various countries. With the passage of time, the blockchain industry is developing rapidly, and the public chain is the underlying infrastructure of the entire blockchain industry. Some industry insiders said that the public chain is like the foundation of a building, if there is no…

Ripple (XRP) At Risk of Sharp Decline, As Double Top Pattern Emerges

boss

Ripple spiked higher and retested the key $0.2550 resistance area against the US Dollar. XRP price failed to break $0.2550 and it is now showing bearish signs below $0.2450. Ripple failed to clear the $0.2550 resistance level and likely formed a double top against the US dollar. The price is now trading well below the $0.2450 support and the 100 simple moving average (4-hours). There is a key connecting bearish trend line forming with resistance near $0.2465 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The…

2017’s Popular ICO Filecoin Announces Mainnet Launch Next Month

boss

The mainnet Ignition launching next month will be a predatory launch of the official mainnet Liftoff for the Filecoin platform. The pre-Liftoff phase is more about getting users acquainted with the platform. Filecoin, the decentralized storage network that raised millions-of-dollar via ICO in 2017, is now aiming to its mainnet launch next month. On Sunday, September 27, Filecoin briefed about its latest developments and launching its mainnet Ignition and Liftoff. In the blog post, Filecoin mentions that in the initial phase, they would be going with mainnet Ignition before proceeding…

Bitcoin Miner Maker Ebang Narrows First Half Loss To $7 Million, as Covid-19 Hit Demand

boss

Ebang International Holdings Inc., the Chinese maker of bitcoin mining hardware, reported a net loss of $6.96 million during the first six months of this year, down from $19.07 million a year ago, as demand fell due to the coronavirus pandemic. Revenue plunged 51% to $11.04 million from $22.35 million previously, said the company in an earnings release shared with news.Bitcoin.com. For the half-year, the Nasdaq-listed Ebang sold a total 0.25 million terahash per second (TH/s) of Bitcoin hashpower. The figure represents a year-over-year decline of 86% from 1.82 million…