Month: October 2020

The Hoff claims to have invented Bitcoin in 12th anniversary video

boss

Nine celebrities with profiles on the sponsored video-sharing platform Cameo have published messages wishing Bitcoin (BTC) a happy birthday ahead of the twelfth anniversary of the publication of its whitepaper on Oct. 31. The videos were paid for by crypto security firm Halborn, and feature Hollywood notables, musicians, and comedians including David Hasselhoff, Charlie Sheen, Carole Baskin, Charlamagne Tha God, Gilbert Gottfried, Doug Benson, Hassan Johnson, Soulja Boy, and RZA. Most of the celebrities were reading off talking points and showcased varying levels of crypto-literacy. Charlamagne Tha God questioned whether…

Bitcoin Regains Strength, But Break Above $13,700 Holds The Key

boss

Bitcoin price is up over 3% and it gained strength from the $13,000 support against the US Dollar. BTC is now facing a heavy resistance near the $13,650 and $13,700 levels. Bitcoin remained well bid above the $13,000 level and it started a fresh increase. The price broke the $13,500 resistance and settled above the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $13,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must settle above $13,650…

Signs that BTC is decoupling supports its ‘safe haven’ status

boss

Bitcoin (BTC) has started to decouple from the U.S. stock market index S&P 500 according to crypto statistician Willy Woo.  First signs of de-coupling behaviour spotted between BTC and stocks. Buying from an influx of new users provides price support preventing speculators from trading the correlation downwards. NVTP approximates a valuation for BTC with organic investor velocity on the blockchain. pic.twitter.com/AvilB9cfdD — Willy Woo (@woonomic) October 29, 2020 Predicting this behavior in late September, he asserted that Bitcoin will break ties with traditional markets due to an influx of new…

This Investor Group is Causing Bitcoin to Decouple from Stocks

boss

Bitcoin is finally breaking its correlation with the stock market, which has been persisting despite its recent uptrend’s strength. An example of this correlation’s lingering effects can be seen while looking towards yesterday’s selloff, with the rejection at $13,800 coming about almost instantly after investors saw a sharp decline in stock futures. Although yesterday was a somewhat rough day for Bitcoin, it quickly shook off the weakness created by the recent turbulence within the stock market and has since been rally higher. One on-chain analyst is now noting that the…

Bitcoin Dominance Is Days Away From Triggering A 30% Rally Against Alts

boss

Bitcoin smashing through $12,000 gave the cryptocurrency enough momentum and energy to take out $13,000 and revisit last year’s highs. But while it did so, it caused altcoins like Ethereum, Chainlink, and dozens more to bleed out relative to BTC. It has left alts in a precarious position, potentially about to be left for dead by Bitcoin dominance and a possible 30% rally from here. Remember The Once In A Lifetime Altcoin Season And Bitcoin’s All-Time High Bitcoin first arrived after the Great Recession of 2008. Within a few years,…

Here’s why Ethereum bulls don’t care about Friday’s $40M ETH options expiry

boss

In the last few days Bitcoin (BTC) price rallied within a hair of the $14,000 level and Ether (ETH) followed with a similarly strong performance but the altcoin failed to hold above the $400 physiological support.  Bitcoin and Ethereum year-to-date performance. Source: Digital Assets Data Although Ether price is below $400, data show traders are not worried about Friday’s options expiry. Investor optimism has been kept intact despite the recent decentralized finance (DeFi) lackluster performances. $80 million worth of Ether options are set to expire this Friday, but there has…

Dutch Police Seize $33 Million in Bitcoin from Couple Accused of Money Laundering

boss

Prosecutors from the Netherlands have seized 2,532 bitcoins worth $33 million after a couple was convicted of money laundering by the Rotterdam District Court. The man and his wife were sentenced to two years for illegal money transmission and the court claims the couple’s bitcoin stash was used on the deep web. Dutch officials recently arrested and charged a man and his wife for illegal money transmission and money laundering. According to the Dutch Public Prosecution Service from the Rotterdam District Court, the two suspects laundered close to $19 million…

Analyst Who Predicted September Bitcoin Crash Predicts Rally to $14k

boss

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…

Chainlink Could “Dumpster Dive” if Bitcoin Sees Continued Weakness

boss

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

boss

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…