Day: October 9, 2020

Square Invests $50 Million in Bitcoin, Saying the Crypto ‘Aligns with the Company’s Purpose’

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Following the news, Square stock went up. It closed at $183.50 per share on Thursday, or 1.84% up, and is further rising in the pre-market today. San Francisco-based financial services and mobile payment company Square Inc (NYSE: SQ) has bought 4,709 Bitcoin (BTC). The company has spent $50 million, which represents 1% of its total assets as of the end of Q2 2020. According to Square press release, the company considers crypto an instrument of economic empowerment. Besides, Square believes digital currencies provide a way for the world to take…

Charted: Chainlink (LINK) Prints Bullish Break, But Facing Uphill Task Near $10

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Chainlink (LINK) found a strong buying interest above the $8.50 support against the US Dollar. The price is now trading nicely above $9.20, but it must surpass $10.00 for more gains. Chainlink token price is showing positive signs above the $9.20 resistance against the US dollar. The price is now trading above the 100 simple moving average (4-hours), but facing hurdles near $9.80 and $10.00. There was a break above a major bearish trend line with resistance near $9.30 on the 4-hours chart of the LINK/USD pair (data source from…

Amazon’s Rise to ‘The Everything Store’, The Journey and Lessons Learnt

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It is of no doubt that Amazon’s journey has been one that gives a lot of entrepreneurial impetus to aspiring businesses and startups all over the world. Amazon’s journey has not just been such that beams consistency, but also of innovation and the constant desire to place customer’s needs ahead of every intended innovation. The company’s rich history surely has a tale many should learn from. Amazon’s Founder and Chief Executive Officer Jeff Bezos with an estimated net worth of about $185 billion highlighted the company’s journey from a mere…

Hit Record Producer Murda Beatz Tells Fans He Purchased Bitcoin

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Another hip hop artist has joined the cryptocurrency community, as the Canadian record producer, DJ, and songwriter ‘Murda Beatz’ (Shane Lee Lindstrom) said he bought some bitcoin on Tuesday. The music producer joins a slew of other recording artists that have joined the crypto ecosystem like 50 Cent, Talib Kweli, Snoop Dogg, and Nas. On October 6, 2020, the Canadian record producer Murda Beatz revealed to his 283,000 Twitter followers that he just purchased some bitcoin (BTC). Murda Beatz is Shane Lee Lindstrom’s stage name and he’s been a well-known…

3 key indicators suggest Bitcoin price is preparing to retest $11,000

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The price of Bitcoin (BTC) is nearing $11,000 once again after a shaky start to October. Last week BTC fell below $10,500 but on Oct. 9 the price swifty recovered to $10,940. In the short term, there are three factors that could enhance bullish sentiment and push the price above $11,000. The possible catalysts are Square’s $50 million investment in Bitcoin, a prolonged accumulation phase, and the recent spike in on-chain activity. BTC/USD daily chart. Source: TradingView.com Square’s $50 million Bitcoin investment is symbolic On Oct. 8, Square, an $81…

TA: Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $355

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Ethereum recovered 4% and it climbed above the $350 pivot against the US Dollar. ETH price could still trim gains if it fails to clear the main $355 resistance zone. Ethereum started a decent recovery wave above the $345 and $350 resistance levels. The price is now well above the 100 hourly simple moving average, but it is facing hurdles near $355. There was a break above a key bearish trend line with resistance near $342 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start…

TA: Bitcoin Overcame Hurdles, But $11K Still Presents A Significant Challenge

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Bitcoin price managed to stay above the $10,550 support and climbed above $10,800 against the US Dollar. BTC is now facing the main hurdle near the $10,950 and $11,000 levels. Bitcoin is up over 2% and it found a strong buying interest near the $10,550 support level. The price is trading above the 100 hourly simple moving average, but facing hurdles near $10,950. There was a break above a major bearish trend line with resistance near $10,635 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…

Bitcoin Defi: Smart Contract Platform RSK Integrates ETH-Based Stablecoin DAI

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On October 6, 2020, the RIF (RSK Infrastructure Framework) development team announced that the Makerdao project’s DAI stablecoin is now available via the smart contract protocol RSK. According to the software engineers, RIF developers leveraged the RSK-Ethereum token bridge and individuals can now utilize the Ethereum-based stablecoin across a myriad of decentralized applications (dapps). The Bitcoin (BTC)-backed smart contract protocol RSK has been steadily moving toward the decentralized finance (defi) space during the last seven months. News.Bitcoin.com reported on RSK’s defi efforts and a number of RSK-based defi projects already…

YFI’s Andre Cronje disappeared after ‘death threats’. Will ‘love’ bring him back?

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Yearn Finance (YFI) developer Andre Cronje has dropped out of public view after reportedly receiving ‘death threats’ from the decentralized finance (DeFi) community and becoming ‘demoralized’. Cronje said he had received a variety of threats after investors raced into his unfinished and unreleased protocol, Eminence (EMN), which was then exploited and drained of $15 million in late September. The incident transpired while Cronje was sleeping, and he woke up to discover that half of the funds had mysteriously been sent to him by the hacker. Cronje has not been active…