Day: October 22, 2020

Bitcoin market sentiment and fundamentals still favor BTC price bulls

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Bitcoin price has seen a healthy upward tick toward the $13,000 mark in the fourth quarter. At the start of the quarter, Bitcoin (BTC) was in the sub-$11,000 region, and from there, constant rises took the price to the $13,000 mark on Oct. 21 for the first time this year. The price rallied to $13,217, a record high for 2020, before falling to around the $12,750 mark. This upward price movement is certainly indicative of the bullish sentiment held by investors in the current market. Rising hash rate a bullish…

Central Bank Digital Currency ‘Threatens’ Bitcoin

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Binance’s enigmatic chief executive Changpeng Zhao (CZ) says that Central Bank digital currency is a threat to Bitcoin.  While giving his views about CBDC, the Binance boss CZ stated that the currency’s formation could threaten the advancement of Bitcoin. The exec responded to the question about how the digital yuan initiative of the People’s Bank of China is affecting the crypto world, raised during a video interview with Jeff Roberts, Fortune’s senior writer. The yuan digital currency development came as a response to Facebook’s Libra cryptocurrency launch. Most CBDCs Are…

Raiffeisen Teams Up Pantos to Provide Interoperability for RBI Coin

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The RBI Coin will facilitate payment and interbank settlements while also helping to limit cash handling and helps different companies in the Raiffeisen banking network in liquidity management. Austria-based Raiffeisen Bank International (VIE: RBI) has teamed up with Bitpanda’s owned Pantos blockchain to bring unique interoperability to the banking sector through the former’s stablecoin dubbed RBI Coin. Per the official announcement, the Pantos blockchain will help provide the ecosystem whereby the RBI coin will not depend on one particular blockchain as it would be used for different applications. The banking…

“Massive” Wave Of OTC Buying Could Be Behind Bitcoin Bull Impulse

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Yesterday, Bitcoin experienced a major breakout through $12,000 and in a flash was trading above $13,000. Buying on exchanges is picking up, which is, in turn, driving up prices. However, a “massive” wave of OTC buying suddenly could also be contributing to the bullish impulse. Here’s how. Bulls Push BTC To New 2020 High, Is The Post-Halving Bull Run Here? The first-ever cryptocurrency is trading just below $13,000 after a strong bullish impulse and $1,000 candle took the cryptocurrency charging higher. News that PayPal would introduce cryptocurrencies to its customers…

Blockchain to Save Content Creators from Copyright Issues

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The blockchain technology can be relied upon as it is vast and tamper-proof, moreover, anybody can verify the data on the chain. Ant Group Co. Ltd. is making headlines this week for all good reasons. According to news outlet Coindesk, Ant Group continues to roll out its blockchain-based platform that helps content creators fight copyright infringement. Besides, the fintech company that is affiliated to Alibaba Group Holding Limited received the final approval from the Hong Kong stock exchange for what is slated to be the world’s biggest-ever Initial Public Offering.…

Tether Treasury Mints 450M USDT in 2 Days, Bitcoin Rallies to 2020 ATH

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Over the years since its inception, USDT has provided unique services that most digital assets fall short of. The Tether Treasury has generated almost half a billion new USDT tokens in the past two days according to whale alert as observed by news outlet Cointelegraph. The new Tether batch coincided with major cryptocurrency events, whereby American payment giant PayPal Holdings Inc (NASDAQ: PYPL) entered the crypto sphere triggering Bitcoin and most altcoins to rally. According to Whale alert, over 185 million of the minted USDT were distributed amongst the crypto…

Bitcoin now has a 7% chance of beating $20K highs in the next 2 months

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Bitcoin (BTC) has a 7% probability of beating its $20,000 all-time highs by the end of this year, data shows. According to data from on-chain analytics resource Skew, as of Oct. 22, Bitcoin options were moving in favor of higher prices continuing in 2020. BTC odds “repricing quickly” At press time, the likelihood of BTC/USD being $20,000 or higher by Dec. 31, 2020 was 7%, with 11% for $18,000. By March 2021, more bets said that Bitcoin would have reclaimed $20,000 (14%), while the figure for June 2021 was 18%.…

Blockchain Bites: Hodl Hodl’s No-KYC Bitcoin Lending, Voyager’s Token Merging M&A Deal, Crypto’s Reaction to PayPal

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Hodl Hodl announced a P2P lending service, with no KYC requirements. Ant Group is continuing to research and release blockchain-based services. And what people are saying following PayPal’s crypto market entrance. Top shelf Bitcoin buysFollowing a wave of institutional bitcoin buys, crypto custodian Hex Trust and multinational payments gateway Sia have partnered to provide an easier path for banks to hold digital assets. Announced Thursday, Hex Trust will offer custodial software to banks, through Sia, to enable them to hold bitcoin, security tokens and central bank digital currencies for their banking clients. Currently, Hex…

Exchange Inflows from Bitcoin Whales Spike as Analysts Expect Selloff

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Bitcoin has been expressing tremendous strength throughout the past few days, with its price seeing an unrelenting uptrend that has allowed it to surmount multiple strong resistance levels and flip them into support. Its momentum stalled slightly yesterday afternoon following its rejection at $13,200, but this appeared to be only a slight speedbump, as BTC may soon retest this level as bulls move to reclaim $13,000. This rally’s strength has been impressive, but the benchmark cryptocurrency may soon face a slight selloff that comes about due to spot selling pressure…

Chainlink brings Verifiable Randomness to Ethereum mainnet, keeps other chains in sight

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Chainlink’s verifiable randomness function, or VRF, has made its way to the Ethereum (ETH) main net. VRF will provide a decentralized source of randomness for the project’s decentralized ecosystem.  A trusted source of randomness is essential for many applications, such as those in the gambling and gaming industries. Chainlink’s co-founder Sergey Nazarov told Cointelegraph that many blockchains  beyond Ethereum, such as the gaming-focused Matic Network, are interested in deploying the project’s VRF: “I know that we have anywhere between 10 and 20 users announced as already using it from the time it…