Day: October 27, 2020

Bitcoin Stays Above $10k For the Longest Period in History

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The price of Bitcoin (BTC) has never been above $10,000 for as long as in the past three months. The figure shows the sheer strength of the momentum of BTC’s ongoing uptrend. The researchers at the cryptocurrency market data firm The Tie said: “Bitcoin has held above $10k for over 90 days (Closing basis). This is the longest period in its history. This chart visualizes the 3 longest periods above $10k. Market structure looks much strong this time around as price is breaking highs and trending upwards.” Throughout the past…

IOTA joins Japanese gov’t on blockchain-based maintenance project

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The IOTA Foundation, a non-profit organization behind the IOTA blockchain, is collaborating with Japan’s government on a project targeting industrial infrastructure. The foundation has partnered on a project initiated by major Japanese maintenance companies, Best Materia and IMC, IOTA representatives announced on Oct. 27. The project is funded by the New Energy and Industrial Technology Development Organization, a national research and development agency operating under Japan’s Ministry of Economy, Trade and Industry. According to an announcement, the initiative intends to implement artificial intelligence and distributed ledger technology to risk-based maintenance…

BP Releases Profitable Q3 Results, Exceeds Analysts Expectations

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Energy company BP has reported $0.1 billion in underlying replacement cost profit, surpassing analysts’ expectations of $347 million loss in Q3. Energy company BP Plc (LON:BP) has exceeded analysts’ expectations as it reported profits for the third-quarter (Q3). The earnings result, which was released on October 27th, showed that the company is beginning to rebound from recent losses. Before now, analysts at Refinitiv had predicted that BP would report a loss of $347 million for Q3. However, the energy giant reported gains in Q3 over the loss of $6.7 billion…

Huobi Global Announces Payment System Overhaul to Aid Card Payments

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Huobi Global exchange has seen a hike in activities and its involvement to boost crypto and blockchain innovation adoption in recent times. Popular cryptocurrency exchange Huobi Global has made known an overhaul to its payment service systems which now allow users to easily pay for the purchase of digital currencies or any related deposits with their Visa and Mastercard respectively. Per the announcement, Huobi exchange’s customers will henceforth be able to use their credit cards as well as their debit cards to make payments without the need for any third-party…

First Mover: Bitcoin Surges to New 2020 High as Harvest Debacle Provides Costly DeFi Lesson

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Bitcoin reached a new 2020 high of around $13,420 after rising on nine of the past 11 days.  The cryptocurrency’s recent rally despite a stalling of U.S. stocks has rekindled speculation that prices for the two asset classes are starting to diverge after a recent stretch in which they appeared highly correlated.  “We have discussed the potential for a decoupling from traditional financial markets,” analysts for the blockchain data firm Glassnode wrote Monday. “It is too early to tell.” Matt Blom, head of sales and trading for Diginex, said bitcoin…

Bitcoin Moves Towards $14K as DBS Opens Crypto Exchange

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Minutes after DBS announced its foray into the cryptocurrency exchange business, Bitcoin resumed its uptrend. Another Bitcoin Rally The BTC/USD exchange rate added up to $411, or 3.14 percent, to set another year-to-date high just shy of $13,500. The pair corrected lower by $100 amid renewed profit-taking but left the Bitcoin market more bullish than it was at the beginning of this week. Part of the reason was its overnight sell-off that appeared almost in sync with a similar downside move across the three Wall Street indexes: the S&P 500, the…

Bitcoin price nears $13.5K as CEO eyes new all-time highs in 3 months

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Bitcoin (BTC) hit new highs of $13,480 on Oct. 27 as fresh news that a bank was entering the cryptocurrency space fuelled already bullish markets. Cryptocurrency market daily overview from Coin360 Bank news drives BTC price to $13,480 Data from Cointelegraph Markets, Coin360 and TradingView showed BTC/USD climbing once again during Tuesday trading, adding 2% in just over an hour. The move followed an as yet unconfirmed news that Singapore bank DBS had decided to build a cryptocurrency exchange and offer crypto custody services, fully regulated by the city state’s…

ICO takes enforcement action against Experian after data broking investigation

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The Information Commissioner’s Office (ICO) orders the credit reference agency Experian Limited to make fundamental changes to how it handles people’s personal data within its direct marketing services. The enforcement notice follows a two-year investigation by the ICO into how Experian, Equifax and TransUnion used personal data within their data broking businesses for direct marketing purposes. A complaint from the campaign group Privacy International to the ICO also raised concerns about the data broking industry, specifically Equifax and Experian. As a result of the ICO’s work, all three credit reference agencies (CRAs)…