Day: October 24, 2020

Bloomberg Intelligence Strategist Hints At Bitcoin Bull Run In 2021

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Earlier in 2020, Bloomberg Intelligence claimed Bitcoin would soon reach $12,000 and would be a primary beneficiary in the post-pandemic world. The prediction coming true has the analyst who made the call sharing a new chart that appears to hint that the cryptocurrency is about to explode into another bull run, much like it did in 2017. Here’s what to expect if yet another forecast from the Bloomberg Senior Commodity Strategist is once again accurate. Bloomberg Senior Commodity Strategist: “Firmer” Crypto Market To Come In 2021 The year of 2020…

Blockchain is still far from maturity, says China’s former IT minister

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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

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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…

If Yearn.finance (YFI) Surmounts $16,000, It Could Start a New Uptrend

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Yearn.finance has seen a decent rebound from its recent lows set just a few days ago. Its ongoing upswing is coming about as Bitcoin and Ethereum consolidate, which indicates that it may be breaking its recent downtrend and beginning to navigate higher as many altcoins start catching some tailwinds created by BTC and ETH’s recent upswing. There are still some underlying problems that are hampering YFI’s growth, with the Yearn ecosystem currently being caught within a vicious cycle limiting how much value is captured by the token. Furthermore, the founder’s…