Day: October 27, 2020

Bitcoin Forms Sell Signal That Was Seen Near 2019 Highs of $14,000

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Bitcoin has surged massively higher over the past 10 days since bottoming on the OKEx news. The price of the leading cryptocurrency currently is $13,050, far above the lows of $11,200 that were triggered on the OKEx news. Despite the coin holding $13,000, analysts fear that a strong retracement is in the works. A number of analysts have noted that a number of indicators suggest BTC is overbought on a near term time frame. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Forms Pivotal Sell…

Singapore’s Biggest Bank Reportedly Plans Bitcoin Trading—How Would BTC React?

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DBS Bank Ltd is looking to offer support for Bitcoin as it looks to capitalize on the growing demand for cryptocurrency investments among consumers. Singapore’s biggest banking corporation unveiled a flagship cryptocurrency trading service, dubbed as DBS Digital Exchange, in a “soft-launch.” It later removed the webpage from public view, leaving the Bitcoin community guessing about the correct timeframe of the launch. (Cached page accessible here) Based on the information available on the original page, the platform primarily intends to assist SMEs and larger corporations in raising capital via the creation…

Why one Bitcoin analyst expects sudden ‘hell’s candle’ plunge to $11.3K

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Bitcoin (BTC) stayed above $13,000 on Oct. 27, but one analyst is warning that the largest cryptocurrency is due for a major correction. In a tweet on Tuesday, on-chain analyst Cole Garner forecast that BTC/USD could soon end its bull run and suddenly move lower in a “Hell’s candle” event on the daily chart. Garner to traders: “Watch your ass” Garner eyed Brave New Coin’s Bitcoin’s liquid coin index (BLX), a price calculator designed to assess at which price points liquidity should enter and exit the market, and the result…

Cardano’s Project Catalyst Now Live on Google Play Store

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Cardano’s Catalyst is one of the core parts of the network’s Voltaire project. The app for Cardano’s project Catalyst is now live on the Google Play Store and available only to Android users for now. Per the update from Crypto News Flash, Cardano’s project catalyst will enable the holders of Cardano (ADA) coin to vote and participate in the governance of the network, a move that is expected to drive massive adoption. The publication of Cardano’s project Catalyst has been tagged as a very significant one seeing that Alphabet Inc…

Ocean V3 Brings Wave of Data Monetization Tools to Ethereum

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A third and all-encompassing version of Ocean Protocol has been released, fleshing out its vision for “datatokens” and decentralized data marketplaces. Announced Tuesday, Ocean v3 brings the Ocean data market proposal to life with Ethereum-based datatokens, as well as a range of other features like initial data offerings (IDOs), staking, automated market making (AMM) functionality and the potential to share and monetize data smarts. The goal of the project is to democratize the value from data and artificial intelligence (AI), which tends to accumulate in the hands of a few…

Chainlink (LINK) Potential HS Pattern Could Trigger Sharp Decline

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Chainlink (LINK) seems to be forming a short-term top near $12.98. A head and shoulders pattern is likely forming, which could trigger a sharp decline below the $11.50 support. Chainlink token price started a fresh decline after it failed to clear the $13.00 resistance against the US dollar. The price is holding the $11.50 support level and the 100 simple moving average (4-hours). There is a crucial contracting triangle forming with resistance near $12.00 on the 4-hours chart of the LINK/USD pair (data source from Kraken). A head and shoulders…

Onchain Data Shows Rising Bitcoin Whale Index Surpassing 4-Year High

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Onchain analytics from the research and analysis firm Glassnode shows that the number of bitcoin whales (addresses with at least 1,000 bitcoins) has surpassed 1,900 clusters. The number of network participants in terms of 1,000 coin whales hasn’t been this high since 2016. Seven-day trailing statistics for the number of whales (addresses with balance ≥ $1k) has increased 2% according to statistics from Glassnode. This means the number of large BTC holders (1,940 clusters ≥ $1k) has increased a great deal since the recent Paypal crypto support announcement. Addresses with…

Ethereum Recovery Could Fail Near Support Turned Resistance At $400

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Ethereum declined 5% and it broke the main $400 support against the US Dollar. ETH price is recovering from the $385 support, but it could face hurdles near $400. Ethereum is down 5% and it broke the $400 and $395 support levels. The price is currently recovering from $385, but it is well below the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $400 on the hourly chart of ETH/USD (data feed via Kraken). The pair could resume its decline unless it…

Spotify competitor Audius airdrops $8M of tokens to users and artists

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The crypto-powered Spotify competitor Audius has retroactively distributed 50 million of its native AUDIO tokens to artists and listeners using the platform. The distribution came alongside the launch of the AUDIO governance token on the Audius mainnet, with 5% of the token’s initial one billion supply distributed to its “top 10,000 artists & fans.” Audius seeks to reward content creators and listeners using its governance token, affording them voting rights over how the protocol will evolve in future. The project plans to use blockchain technology to increase transparency and reduce…