Day: October 12, 2020

Bitcoin Surges Towards $11,700, Liquidating Millions

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It appears that Bitcoin investors are not fazed by the prospects of a move lower due to the CME futures gap formed at $11,100. The leading cryptocurrency has continued to thrust higher, pushing towards $11,700 just minutes ago as of this article’s writing. The leading cryptocurrency has now printed six days of gains in a row, suggesting it is on track for a full reversal of the September losses. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Pushes Towards $11,700  Bitcoin is thrusting towards $11,700…

Ledger wants to help MicroStrategy secure its $400m Bitcoin treasury

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Ledger is mostly known for its consumer-facing hardware wallets, but since last year, a number of enterprises have also begun to use Ledger Vault, according to the company’s vice president of product, Jean-Michel Pailhon. This product is focused on providing custody solutions to enterprise clients.  In fact, the Ledger team is currently trying to sell MicroStrategy on the advantages of its product. MicroStrategy is a business intelligence company that made a splash in August 2020 by converting a large portion of its treasury into Bitcoin (BTC). More recently Square, who just acquired…

Price analysis 10/12: BTC, ETH, XRP, BCH, BNB, LINK, DOT, ADA, LTC, CRO

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Bitcoin’s strength above the $11,500 multi-year resistance is also pulling many altcoin prices higher. U.S. equity markets are nearing all-time highs on the hopes that Democrats and Republican will break their current stalemate and strike a deal to release another round of stimulus for American citizens and the small businesses they operate. While these monetary and fiscal stimulus measures have been proven to boost stock market returns in the short-term, they also add to the massive debt burden facing the U.S. Printing more money from thin air cannot be a…

Market Wrap: Bitcoin Bumps Close to $11.6K; Ether Options Open Interest Dips

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Bitcoin bounced close to $11,600 before retreating a bit while ether options traders are less active than they were in September. Bitcoin (BTC) trading around $11,552 as of 20:00 UTC (4 p.m. ET). Gaining 1.7% over the previous 24 hours. Bitcoin’s 24-hour range: $11,186-$11,598 BTC is above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since Oct. 9.Source: TradingView After a flat weekend that saw the world’s oldest cryptocurrency stick to a tight $11,300-$11,400 range, bitcoin’s price jumped Monday as high as…

Things just got MESSy for potential Ethereum Classic 51% attackers

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Over the past weekend, on block 11380000, a solution for the prevention of 51% attacks was introduced to the Ethereum Classic (ETC) community. Several such attacks have recently placed ETC at a crossroads, leaving the very survival of the chain uncertain. In the weeks that followed these attacks, the community worked to evaluate numerous potential solutions.  The first one that has been implemented is called MESS, which stands for Modified Exponential Subjective Scoring. Its predecessor was first suggested by Vitalik Buterin back in 2014. It builds on the assumption that…

How HBCUs Are Prepping Black Students for Blockchain Careers

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Dozens of historically Black colleges and universities (HBCUs) are exploring the next phase of decentralized technologies in a bid to put Black students at the forefront of new blockchain protocols.  “These schools see it as a way to participate in Web 3.0,” said Tonya Evans, chairperson of the MakerDAO Foundation and visiting professor at Penn State’s Dickinson Law School. “We were not participating in the dot-com era. Most of the Black community didn’t know about it at the time.” This story is part of the CoinDesk U series about blockchain at universities.…

The Silk Road Balance Sheet Discrepancy: Bitcoin Worth $4.8 Billion Still Missing

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The original Silk Road marketplace has been shut down for well over seven years now and to this day, 444,000 bitcoin worth $4.8 billion is still missing. Just recently, a report focused on those funds discusses one of the market’s biggest mysteries and how people have seemingly forgotten about this massive stash. A number of people understand that the Silk Road marketplace was shut down by global law enforcement (LE) in October 2013 and LE subsequently arrested Ross Ulbricht shortly after. Individuals are also familiar with the 173,991 BTC ($1.9B)…

$17K Bitcoin price a real possibility if bulls flip $12K to support

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Bitcoin (BTC) price had been acting inside a narrow range for the last few weeks but the momentum and trend shifted as a bullish breakout occurred on the announcement that Square had allocated 1% of its cash reserves to BTC. This bullish breakout even caused the price to rally from $10,600 to $11,500, which is almost $1,000 in a few days. Despite this strong upside move, traders are still cautious as they are unsure whether the bullish momentum is back or if this is just a temporary blip. Bitcoin faces…

How Goldman’s bearish stance uplifts Bitcoin Q4 sentiment

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Goldman Sachs, the $71.4 billion investment bank, is reportedly bearish on the U.S. dollar. For Bitcoin (BTC), which has recently rallied above the dreaded $11,100 level, this could serve as a potential catalyst. Bitcoin is heading into the last two months of the year with significant uncertainty. But if the dollar continues to slump, it could buoy the momentum of BTC and gold in the fourth quarter. The daily chart of Bitcoin. Source: TradingView.com Why Goldman Sachs is not optimistic on the dollar Zach Pandl, the co-head of Global FX,…

Blockchain Bites: Bitcoin on Ethereum – The Whos, Whats and Whys

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Since January, over $1.5 billion worth of bitcoin has been tokenized into ERC-20 tokens to use in the emerging decentralized finance (DeFi) ecosystem on Ethereum. These DeFi applications offer an increasingly large array of potential use cases for bitcoin investors looking for alternative ways to issue loans or make trades on new exchange platforms.  Tokenizing bitcoin serves as a bridge between these two leading cryptocurrency communities and an important step forward for traders and investors taking advantage of the features offered by both blockchains. Through tokenized bitcoin projects, the powerful monetary properties of bitcoin…