Day: October 11, 2020

Bitcoin Price Holds Strong At $11.2K: A Strengthening Case For $12K

boss

Bitcoin gained bullish momentum and rallied above the $11,000 resistance against the US Dollar. BTC is consolidating gains above $11,200 and it could extend its rise to $12,000. Bitcoin started a strong increase after it cleared the $10,950 and $11,000 resistance levels. The price is now trading well above $11,200 and the 100 simple moving average (4-hours). There was a break above a major contracting triangle with resistance near $10,750 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower, but buyers are…

Here Are the Top Public Companies That Have Adopted Bitcoin as a Reserve Asset

boss

When Microstrategy Inc. bought $425 million bitcoin in the last two months, the decision became an important stamp of institutional approval of the top crypto’s credentials as a mature, safe-haven asset. The American technology firm had just made bitcoin its primary reserve asset to hedge against fiat inflation. Now, it appears major global companies are following Microstrategy’s bitcoin strategy. The website bitcointreasuries.org is curating bitcoin treasures held in reserve by publicly traded companies from across the world. At the time of writing, 13 companies with a combined total 598,237 BTC,…

Uniswap’s UNI Could Plunge to $2.50 as Trendline Resistance Holds

boss

Uniswap’s governance token UNI has seen mixed price action as of late, with bulls and bears reaching an impasse following the notable upswing seen earlier in the week. The token’s price action has done little to provide investors with insight into where it will trend next, as the promising future of the decentralized exchange has not yet been reflected in its price trend. There is a possibility that it will remain trendless until a catalyst – like the release of Uniswap V3 or fee distributions to holders – creates an…

Ethereum’s Yearn.finance (YFI) Drops 10% as $7,000 Relief Rally Peters Outs

boss

After bouncing just under 60% from its local lows of $12,000 to a local high of $19,000, Yearn.finance (YFI) is returning lower. The leading Ethereum-based coin has dropped by approximately 10% in the past 24 hours, as it currently trades for $16,000 as of this article’s writing. This is still 33% above the local lows. The ongoing move lower in the price of YFI comes in spite of strength in the rest of the DeFi market, coupled with strength in the price of Bitcoin and Ethereum. Yearn.finance’s ongoing decline also…