Day: October 7, 2020

Crypto art piece sells for $130K at Christie’s auction house

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Christie’s auction house has announced the sale of a digital portrait of the Bitcoin code for more than $130,000. It marks the first time an NFT was auctioned at a major auction house, and the price exceeded expectations. According to the auction house, an unknown buyer purchased “Block 21,” a physical piece of art and non-fungible token (NFT) of Satoshi for $131,250 at Christie’s on Oct. 7. The artwork, fabricated by Ben Gentilli with the Robert Alice project, is one of 40 creations in a series, and holds exactly 322,048…

Key Bitcoin price metric at 10 week low after traders close long positions

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October has barely started and the price action in the crypto markets has been both exciting and worrisome. Bitcoin (BTC) has seen a strong $10.9K rejection and a quick $10.2K bottom over the past week. The whipsaw price action has been the norm over the past three weeks and is quite gruesome for the bulls and bears. Regardless of the reason behind these moves, the recent newsflow of negative crypto events has clearly spooked investors. In the last two weeks KuCoin was hacked for $150 million, BitMEX was charged with…

CCN is on Yet Another Shutdown Due to Google’s Terrifying Monopoly

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Dear reader, We are in a difficult period. Not due to Coronavirus, but due to Google and Google’s power over us as a minor independent news organization. After the Google Core Update in May 2020, we lost 80/90% of our regular search traffic from Google. This is not something that we are unfamiliar with, as it happened with us after Google’s Core update in June 2019. We are not the only publisher where Google thwarts search traffic without warning or explanation. This has happened with many of the major news…

Yearn.finance (YFI) Likely to See a Relief Rally as It Approaches Crucial Level

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Yearn.finance’s YFI governance token has been sliding lower throughout the past week, with sellers being in full control of its price trend as its buying pressure evaporates. This has caused the cryptocurrency to break below multiple crucial support levels that had previously been acting as robust support. Although it is now trading above what many analysts had described as a “last ditch” support level, its reaction to the buying pressure here has been rather muted, which is a bearish sign that could indicate that further losses are imminent. This decline…

Market Wrap: Bitcoin Regains $10.6K; High-Balance Ether Addresses Decline

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Bitcoin is recovering from Tuesday’s drop while there is a decrease in large-balance ether addresses. Bitcoin (BTC) trading around $10,651 as of 20:00 UTC (4 p.m. ET). Gaining 0.66% over the previous 24 hours. Bitcoin’s 24-hour range: $10,524-$10,683 BTC above its 10-day moving average but below the 50-day, a sideways signal for market technicians. Bitcoin trading on Coinbase since Oct. 5.Source: TradingView Bitcoin’s price is making gains Wednesday, recovering from a spate of selling Tuesday that coincided with U.S. President Donald Trump’s tweet calling off stimulus negotiations with lawmakers. Bitcoin…

The Next Bitcoin Break Will Set The Stage For Weeks To Come

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Bitcoin is exhibiting confusing price action currently, reeling from the slew of negative news but withstanding a fall back to retest lows. Eventually, the stalemate between bulls and bears will break, and an enormous decision-making move will result. Whichever way Bitcoin breaks next, one crypto analyst says, will set the trend and grand stage for the crypto market for weeks to come. Here are the two levels to watch for a clear breakout. Bitcoin Breakout Expected To Set Trend For Rest of The Year And Beyond The leading cryptocurrency by…

DeFi party’s over, back to building now, Sept. 30—Oct. 7

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This week in DeFi was notable for its lack of notable events. Nobody set new records for the fastest hack of a new contract, nobody famous exit scammed or pulled a DeFi Jesus reincarnation act. You can just feel that something is different now. It used to be that every weekend we’d discover some new exotic food, or someone would launch a vampire attack on another protocol with a cleverly disguised Ponzi scheme. Not to say nothing happened at all this week, but the scope just feels different this time.…

Price analysis 10/7: BTC, ETH, XRP, BCH, BNB, DOT, LINK, LTC, CRO, BSV

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Bitcoin and altcoins could remain range-bound for a few days as traders search for triggers that will start the next trending move. Crypto prices may be in a rut but that doesn’t mean product development and acquisitions cease to occur. This week Japanese financial firm SBI Holdings acquired a 100% stake in TaoTao cryptocurrency exchange.  With the latest acquisition, SBI now owns two cryptocurrency trading platforms. This suggests that the financial conglomerate is betting on an increase in cryptocurrency trading in Japan and is positioning itself to benefit from it.…