Day: October 7, 2020

BTC Analyst: Bitcoin’s Fundamentals are in Moon Mode

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Quick take: Willy Woo has pointed out that Bitcoin’s fundamentals ‘are in moon mode’ On-chain data and metrics from infrastructure players hint that Bitcoin is on a path to a profitable Q4, 2020 Bitcoin’s bullishness will spill over into 2021 The opportunity to get into Bitcoin now is similar to that in mid-2016 Veteran Bitcoin Analyst, Willy Woo, has shared his most recent analysis of BTC in which he states that all Bitcoin fundamentals ‘are in moon mode’. According to Mr. Woo, Bitcoin’s on-chain data and metrics from infrastructure players…

BitMax and Offshoot of Japan’s LINE Debuts Crypto Lending Service

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The move to launch the cryptocurrency lending service will go a long way in bringing the much revered DeFi product to thousands of BitMax customers. A foremost cryptocurrency exchange in Japan BitMax and an offshoot of Japan-based social media messaging giant LINE has unveiled its cryptocurrency lending service. Per reports from CoinDesk Japan, the LINE backed exchange BitMax’s lending service will allow users to lend crypto assets such as Bitcoin and Ethereum to exchanges and obtain rental fees. Determined to offer more value-added services to its over 81 million users,…

Ripple Co-Founder Hints Move From US Regulation: “Blockchain and Digital Currencies are not Welcome”

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Ripple co-founder Chris Larsen is considering moving Ripple’s base from the United States to a jurisdiction with clearer regulation on blockchain and digital currencies—hinting at the UK, Switzerland, Singapore, or Japan. Ripple may be relocating their base of operations to Asia or Europe due to increasing frustration with the lack of clarity on regulations for blockchain and digital currencies in the United States, according to Ripple co-founder Chris Larsen. While speaking at the LA Blockchain Summit on Oct. 6, Ripple’s co-founder Larsen said that the United States is still lagging…

How Blockchain Social Media Will Topple Zuckerberg – Cointelegraph Magazine

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Big tech isn’t just big anymore. It’s grown into a ravenous Cthulhu-esque beast with its tentacles wrapped around almost every data point in our lives. But in the light of a House Judiciary report determining that “Facebook’s monopoly power is firmly entrenched and unlikely to be eroded by competitive pressure from new entrants or existing firms,” can blockchain-based social media topple these social media powerhouses, given the unchecked power these giants wield over corporations and individuals? Even beginning to challenge the omnipotence of Facebook, Apple, and Google seems a daunting,…

A 2016-level massive Bitcoin price volatility spike might be near

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For the first time since 2016, the Bollinger Band width of Bitcoin (BTC) dropped below 0.95. The Bollinger Band is a widely utilized technical indicator that evaluates the volatility trend of an asset. It might signify that a huge volatility spike is imminent. The price of Bitcoin has been relatively stable from 2019 to 2020. BTC mostly ranged in between $6,000 and $12,000, apart from March when it plummeted below $3,600. The monthly Bitcoin price chart with Bollinger Band. Source: TradingView.com, Nunya Bizinz In the months to come, the volatility…

Coincheck exchange to help CryptoKitties go mainstream in Japan

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Coincheck, one of the largest cryptocurrency exchanges in Japan, is expanding its push into non-fungible tokens, or NFTs, with a new partnership with the developer of CryptoKitties. According to an Oct. 6 announcement, Coincheck has partnered with Dapper Labs, which developed one of the world’s most popular decentralized applications launched on the Ethereum blockchain. Coincheck said that the new partnership will bring NFTs to a mainstream Japanese audience by providing exposure to millions of its users. Coincheck plans to integrate the CryptoKitties app into its upcoming NFT marketplace. The exchange is also…

A Big Bitcoin Move Ahead as Volatility Hits 3-Month Low: Fund Manager

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Bitcoin strategists are waiting for a bias-defining price move as the cryptocurrency’s historical volatility falls to its lowest in three months. Jan Uytenhout, the co-founder of Capriole Investments in Denmark, iterated the outlook in a tweet issued earlier this Wednesday. The fund manager cited old references to show a correlation between the Bitcoin price and its historical volatility index. He noted that the cryptocurrency undergoes sharp price moves regardless of its direction whenever its volatility falls below 20, based on readings from a technical indicator. For instance, in late July…

First Mover: Bitcoin Steady as Trump Tweets and Neo Takes on Ethereum

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Chinese tech companies were once seen as copycats of their Western peers: Alibaba was a knockoff of eBay and Baidu imitated Google. More recently, Chinese firms like TikTok and Huawei have established such dominant international positions that U.S. authorities have tried to hold them back.  Now, the technological arms race is playing out in the cryptocurrency industry, where one Chinese company is taking on Ethereum, the world’s second-largest blockchain, which U.S.-based developers have used to build semi-automated trading and lending networks under the rubric of decentralized finance, or DeFi.    Neo…