Ethereum has undergone a strong rally over the past few days amid a Bitcoin push higher. In the past seven days, ETH has gained around 10%, pushing from the $370 region to $410 as of this article’s writing. ETH is expected to push higher as there are fundamental and on-chain trends that favor bull trends. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Key Ethereum On-Chain Trends Bullish Ethereum is expected to move higher in the days and weeks ahead as on-chain trends remain bullish. Santiment,…
Day: October 24, 2020
Blockchain is still far from maturity, says China’s former IT minister
Wu Zhongze, China’s former vice-minister for Science and Technology and a well-known digital economics expert, believes that blockchain technology is still quite young. During an interview with The Paper, the former IT minister also stated that there was still “not much difference between where China and leading economies such as the United States and Europe” stand in terms of developing blockchain-based ecosystems. Wu noted, however, that China has improved across a number of sectors that are necessary for blockchain development, including hardware manufacturing, platform and security services, industry investment, and…
3 Crucial Reasons Why Bitcoin Shot $1,500 Higher This Past Week
Bitcoin has shot around $1,500 higher over the past week, reaching a weekly high of $13,200. The price of the leading cryptocurrency has dropped slightly to $12,900 as of this article’s writing, just shy of the highs and the pivotal $13,000 resistance level. This recent move higher caught many traders off guard. During one day this week, over $300 million worth of Bitcoin short positions were liquidated, along with some long positions amid some volatility. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Three Reasons Why…