Bitcoin has undergone a strong correction from the highs of $13,850 set earlier this week. At yesterday’s lows, the cryptocurrency traded for $12,900. Analysts think that Bitcoin remains embroiled in an uptrend despite the correction in this market. One historically accurate analyst shared an analysis indicating that the cryptocurrency has a high likelihood of consolidating from here in the weeks ahead. This consolidation should be followed with a breakout toward $14,000, then potentially further gains as we near the end of November. Related Reading: Here’s Why Ethereum’s DeFi Market May…
Day: October 29, 2020
Chainlink Could “Dumpster Dive” if Bitcoin Sees Continued Weakness
Chainlink has recovered from its recent lows and is in the process of pushing higher despite seeing a strong selloff earlier today. The cryptocurrency’s current strength is coming about due to that seen by Bitcoin, with the benchmark cryptocurrency also pushing higher as bulls try to reverse the recent weakness it has seen as a result of yesterday’s $13,800 rejection. If Bitcoin continues pushing higher, it could create tailwinds for altcoins that also helps lead Chainlink higher in the days and weeks ahead. The next key price level that it…
Chinese city seeks to power urban governance and more using blockchain tech
Authorities in Chengdu, China plan to adopt blockchain for several use cases throughout the city, including urban governance, cross-border trade, smart manufacturing, and agriculture. During the 2020 Chengdu Global Innovation and Entrepreneurship Fair, the city’s first International Blockchain Industry Expo, Lu Tiecheng, secretary of the Party Group of the Chengdu New Economy Committee, released the “Chengdu Blockchain Application Scenario Supply Action Plan.” According to a local media outlet, Red Star News, this plan will allow blockchain adoption applications to be submitted by contributors in a variety of fields such as…
Binance CEO denies allegations that the exchange’s US arm is a regulatory decoy
Changpeng Zhao, CEO of Binance, is pushing back hard against allegations that the crypto exchange set up its U.S. arm to circumvent regulations and surreptitiously profit from investors. According to an Oct. 29 article from Forbes writer Michael Del Castillo, the news outlet claims to have obtained a leaked presentation outlining Binance’s plans for operating in the United States. The document states that in 2018 — prior to the launch of Binance.US — the crypto exchange intended to set up a “Tai Chi entity” in the U.S. to act as…
OKEx, Still Paralyzed by Founder’s Arrest, Details Plans for Bitcoin Cash Hard Fork
Cryptocurrency deposit withdrawals are still suspended at the OKEx exchange following a founder’s recent arrest, but officials with the Malta-based company are moving ahead with other matters, including planning around an upcoming hard fork on the Bitcoin Cash blockchain. Original
Yearn.finance’s YFI Continues Crashing, But This New Proposal Could Save It
Yearn.finance’s YFI governance token has been caught within a brutal downtrend ever since its price peaked at $45,000, with bears now vying to push it below $10,000 as they continue gaining control over its macro outlook. The descent seen as of late has struck a serious blow to its long-term trend, as it has severely damaged community sentiment and has opened the gates for further downside. Analysts are now noting that a dip below $10,000 is in the cards and could come about quite soon if bulls cannot take control…
Mastercard and GrainChain Bring Blockchain Provenance to Commodity Supply Chain in Americas
Payments giant Mastercard has announced a partnership with GrainChain, a blockchain-based supply chain management firm to enhance visibility for producers and consumers in the commodity supply chain in Latin America and North America. According to the media release shared with Blockchain.news on October 29, 2020, the partnership is aimed at empowering suppliers and farmers to protect their brand reputation through adherence to supply chain standards in a bid to create trust with the final consumers. The supply chain management will be provided by the Mastercard Provenance Solution, and together with…
Market Wrap: Bitcoin Hits $13.6K; 500K ETH Options Pile Up for December
Bitcoin’s price is turning bullish as ether options traders accumulate half a million of ETH options for December expiration. Bitcoin trading around $13,519 as of 20:00 UTC (4 p.m. ET). Gaining 2.6% over the previous 24 hours. Bitcoin’s 24-hour range: $13,105-$13,649 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Bitstamp since Oct. 27.Source: TradingView The price of bitcoin moved upward Thursday, going as high as $13,649, according to CoinDesk 20 data, and settling around $13,519 as of press time. Read More:…
The First Crypto Currency Auto Finance Company in the U.S.
Available now with Crypto Cars Online Dallas/Fort Worth, Texas— October 26, 2020 — Crypto Cars Online announced immediate availability of purchasing vehicles with crypto currency, after partnering with top rated auto dealers in the Dallas Fort Worth area. “Our system is simple when you buy a car with Crypto Currency,” said Spokesman Roger Lee, Managing Partner of dr2marketing and head of media relations for Crypto Cars Online. How It Works Purchase your vehicle online with multiple crypto currency options including, Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and USD Coin. Crypto Cars…
Three Reasons Why Chainlink’s Downtrend Against Bitcoin Just Started
Chainlink is easily the best performing cryptocurrency for the last three years, and this year managed to outperform Bitcoin by over 500%. But the tides have finally turned on the two opposing crypto coins, and it could signal an extended downtrend against the first-ever cryptocurrency for the foreseeable future. Here are three compelling reasons and charts supporting this theory that investors in the decentralized oracle technology don’t want to hear. Weekly Momentum Shift Made Clear In Chainlink By Two Reliable Technical Indicators Chainlink potentially topped out for the time being…