Day: September 29, 2020

Bored with Bitcoin price, traders chase gains in altcoins and DeFi tokens

boss

For the few weeks Bitcoin (BTC) price has moved within a $850 range and recently the price resumed the trend of daily higher lows.  Despite this, $11,000 remains a hurdle the price has struggled to overcome but one positive is that altcoins are beginning to recover some of the hefty losses of the past few weeks.  Cryptocurrency daily market performance snapshot. Source: Coin360 Perhaps now that CME Bitcoin options closed without any major disruption and a new month on the verge of beginning, Bitcoin price can make a move higher…

Ethereum Close Below $350 Could Spark Larger Degree Correction To $330

boss

Ethereum tested the $370 resistance before correcting lower against the US Dollar. ETH price could start a larger decrease if it fails to stay above $350 and $348. Ethereum started a fresh decline after trading to a new weekly high near $370. The price is now trading below the $355 support and the 100 hourly simple moving average. There was a break below a major ascending channel with support near $355 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue lower if it…

Bitcoin Correction To $10k On Horizon After Bulls Lose Control At $10.9k

boss

Bitcoin price failed to clear the $10,900 and $11,000 resistance levels against the US Dollar. BTC is currently declining and it seems like there are chances of an extended decline to $10,000. Bitcoin failed to gain strength and it remained well below the $11,000 resistance. The price is now trading below the $10,800 support and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $10,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains at a…

$30M MakerDAO ‘Black Thursday’ lawsuit sent to arbitration

boss

A court has agreed with the Maker Ecosystem Growth Foundation that a class-action lawsuit over its ‘Black Thursday’ meltdown should enter into arbitration proceedings. The Maker Foundation filed this motion to compel arbitration in response a lawsuit filed by MakerDAO user Peter Johnson in April after he suffered six-figure losses as a result of the protocol becoming undercollateralized in March. In a September 25 order, Judge Maxine Chesney found that the American Arbitration Association must determine whether Johnson’s claims fall within the scope of an arbitration clause included in DAI’s…

Bitcoin’s Big Believers: 6-Digits ‘Inevitable,’ BTC Has a Better Chance of Going to $100K Than Zero

boss

For a number of years now bitcoiners have predicted that the price of bitcoin will surpass its all-time high from 2017 and many believe it will rise to the $100k or six-digit price range. This week bitcoin enthusiasts discussed the possibility of the crypto asset reaching $100k at great length. In mid-December 2017, the price of bitcoin (BTC) touched an all-time high (ATH) of $19,600 per coin. Today, BTC is 45.81% lower than the 2017 ATH but a number of bitcoiners believe that the crypto asset will surpass that price…

Bitcoin’s “Difficulty Ribbons” Just Entered the Buy Zone for the First Time Since March

boss

Bitcoin’s price action throughout the past 24-hours has been incredibly positive for bulls, as the crypto is now consolidating below its crucial resistance as buyers take aim at catalyzing further upside. In the near-term, it appears that where BTC trends next may depend almost entirely on its reaction to the selling pressure that exists between $11,000 and $11,200. This price region has catalyzed to multiple strong plunges in the past and could lead to a deeper drawdown if another rejection is posted at this level. That being said, one fundamental…

Bulgarian exchange owner convicted over auction fraud scheme

boss

Rossen Iossifov, a 53-year-old Bulgarian national and owner of the ‘RG Coins’ cryptocurrency exchange, has been convicted of operating a multi-million dollar money laundering ring as part of a transnational auction fraud scheme. Following a two-week trial Iossifov was found guilty by a federal jury in Frankfort, Kentucky, of conspiracy to commit money laundering and conspiracy to commit racketeering. The Kentucky resident will face sentencing on Jan. 12, 2021. The jury found that at least 900 U.S. citizens were conned in a scheme that saw Iossifov’s Romania–based accomplices post advertisements…

Crucial Bitcoin Momentum Indicator Opens Red For First Time Since April

boss

Across crypto Twitter, analysts claim that Bitcoin price just had an extremely bullish close, but a crucial momentum measuring indicator says otherwise. In fact, the tool just flipped bearish for the first time on weekly timeframes since April 2020, right after the Black Thursday rebound and pre-halving rally. Bitcoin Weekly MACD Opens Bearish For First Time Since Black Thursday The leading cryptocurrency by market cap closed above $10,750 last night, ending an otherwise bearish week on a high note. Bulls have held on after successfully defending below $10,000 seven consecutive…

The Doc Rivers Firing Won’t Fix Paul George & Kawhi Leonard

boss

Doc Rivers was fired from his position as the Los Angeles Clippers head coach on Monday. The firing comes after he blew yet another 3-1 lead in this year’s playoffs. There aren’t many suitable replacements, certainly no one who can fix the real issues. Let’s be clear; Doc Rivers deserved to be fired today. That’s not to say he’s a bad coach, but he’s had every shot with this Los Angeles Clippers team, and he blew it. Unfortunately for the Clippers, no knight in shining armor will be coming to…

The Doc Rivers Firing Won’t Fix Paul George & Kawhi Leonard

boss

Doc Rivers was fired from his position as the Los Angeles Clippers head coach on Monday. The firing comes after he blew yet another 3-1 lead in this year’s playoffs. There aren’t many suitable replacements, certainly no one who can fix the real issues. Let’s be clear; Doc Rivers deserved to be fired today. That’s not to say he’s a bad coach, but he’s had every shot with this Los Angeles Clippers team, and he blew it. Unfortunately for the Clippers, no knight in shining armor will be coming to…