Day: November 1, 2020

By the Numbers: More Bitcoin Bulls Than Ever Before

boss

A Long Reads Sunday reading of Grayscale’s recent “Bitcoin Investor Survey.” On this week’s Long Reads Sunday, NLW diverts from our normal opinion and long-form essay to pursue Grayscale’s recent investor reports. In its survey of investors, Grayscale found more interest in bitcoin investing than ever before, with a significant amount of the growth in interest being driven by economic and monetary policy following the coronavirus pandemic.  Original

The True Bitcoin Breakout Hasn’t Even Happened Yet, Volatility Shows

boss

Bitcoin has undergone a massive rally over the past two weeks. From the lows set after the news broke regarding OKEx, the leading cryptocurrency has surged higher by almost 25%. As of this article’s writing, Bitcoin trades for $13,800. Despite this rapid move to the upside, not all analysts are convinced that the true Bitcoin breakout has taken place. That’s to say, Bitcoin could soon see even more explosive movement. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Hasn’t Even Seen Its True Breakout Yet…

Bitcoin monthly candle closes above $13K for the first time since 2017

boss

The monthly candle of Bitcoin (BTC) for October has closed above $13,000 for the first time since December 2017. It comes after both daily and weekly candles all closed above the crucial resistance level. Traders often use the monthly log chart to evaluate the long-term and macro trend of an asset. On a monthly chart, each candle represents a whole month of trading activity. As such, a Bitcoin monthly log chart typically covers many years of trading activity. The monthly chart is considered to be one of the main high…

Here’s What Could Trigger A Fresh Rally

boss

Ethereum struggled to continue higher and declined below $400 against the US Dollar. ETH price is consolidating losses and it must surpass $395 for a fresh rally. ETH price corrected lower below the $400 and $392 support levels against the US Dollar. The price is trading near the $385 zone and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $395 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely to rally if it clears the $392,…

Lightning Network Exploits Continue to Hinder the Bitcoin Scaling Solution

boss

While bitcoin has run-up to all new price highs in 2020, a great number of crypto supporters have been complaining about the mempool backlog and the high fees needed to send a transaction. Meanwhile, the Lightning Network is far from seeing widespread adoption, and a number of attack vectors have been revealed this year. At the time of publication, the Bitcoin (BTC) mempool (backlog of transactions) shows 113,000+ unconfirmed transactions and the backlog hasn’t been this high since 2017. When the bull run took place three years ago, transaction fees…

Bitcoin Corrects After Rejection at $14K: Trend Remains Bullish

boss

Bitcoin price traded to a new monthly high at $14,081 before starting a downside correction against the US Dollar. BTC is now approaching the $13,600 and $13,500 support levels. Bitcoin extended its rise above the $13,500 and $13,800 resistance levels. The price traded as high as $14,081 and settled well above the 100 simple moving average (4-hours). There is a key rising channel forming with support near $13,600 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could resume its rise as long as it…

Chainlink’s Top Investors are Accumulating at a Rapid Pace

boss

Chainlink’s price action has been rather lackluster as of late, with its price lacking a clear trend as it consolidates alongside Ethereum and the rest of the crypto market. However, there’s a strong possibility that this will soon shift as Bitcoin’s ongoing uptrend will eventually lead to a capital rotation even that causes significant inflows of capital to move from BTC and into higher-risk assets like altcoins. Once this occurs, LINK will likely be one of the first altcoins to gain some serious momentum due to its tendency to post…

Satoshi Nakamoto’s Bitcoin White Paper: A 12-Year Old Summary of Robust Unstructured Simplicity

boss

Cryptocurrency supporters all around the world are celebrating the fact that today is the 12th anniversary of the Bitcoin white paper, a summary of the invention created by the pseudonymous inventor Satoshi Nakamoto. Bitcoin’s inventor published the paper on metzdowd.com’s Cryptography Mailing list and ever since then, the financial world hasn’t been the same. 12 years ago, Satoshi Nakamoto decided to let the world in on Bitcoin, the peer-to-peer electronic cash system that took the world by storm. The very first time Nakamoto published the paper was at 2:10 p.m.…