Day: November 9, 2020

Monero podcaster loses NY congressional race

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Douglas Tuman, a crypto enthusiast and host of the Monero Talk podcast, has lost in his bid to represent New York’s 4th District in the U.S. Congress. According to election results from The Associated Press, Tuman, a Republican, received 134,243 votes to incumbent Democrat Kathleen Rice’s 147,580 in New York’s 4th District, which includes parts of central and southern Nassau County. Rice has served as a member of the U.S. House of Representatives since 2015. The Monero (XMR) podcaster first announced his intentions to run for Congress in March, stating…

Five Reasons Why Bitcoin Price Dropped And Could Correct Further

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Bitcoin price has been rallying for most of 2020, but over the last two months, the cryptocurrency’s momentum kicked into overdrive. Anything that goes up, must at some point come back down to cool off and recharge before it can do it all again. After such a memorable push by bulls over recent weeks, the tides could soon be turning. Here are the five key factors that could cause a deeper correction, beyond the conclusion of politics or news that a vaccine is near. The Five Reasons Why Bitcoin And…

This Key Metric Suggests Bitcoin Investors Are Starting to Get Greedy

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Bitcoin has undergone a strong surge since the lows seen when OKEx announced it had frozen withdrawals. In the past 30 days alone, BTC has gained more than 40%, shocking most investors. Key on-chain trends show that Bitcoin investors are starting to become “greedy.” While this may not be a sign of an immediate top, Bitcoin holding in the range of greed for extended periods of time has historically preceded bearish reversals. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Key Bitcoin Metric Entering “Greed” Territory…

Price analysis 11/9: BTC, ETH, XRP, BCH, LINK, BNB, LTC, DOT, ADA, BSV

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Bitcoin price is recovering well from its 6% drop to $14,800, but top altcoins are slow to follow. Professional traders are often perceived to be the smartest, as they weigh the risks before investing in an asset class. Opposite to that, most retail traders only keep an eye on the possible profits and disregard the risk before investing. Therefore, the increase in the number of Bitcoin (BTC) addresses holding more than 100 Bitcoin to a seven-month high, at 16,271, could be considered as a bullish sign. Furthermore, the low search…

Wall Street Veteran Bill Miller Says Buy Bitcoin Today, as Every Major Bank Would Eventually

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Miller Value Partners’ founder, Bill Miller, suggests that Bitcoin’s price today is a tremendous buying opportunity, in a conversation with CNBC. While comparing it with other assets, Miller noted that BTC has been on the lead in the last ten years, five years, and one year. BTC May Never go Back to Zero When COVID-19 reared its ugly head worldwide last March, Bitcoin investors became wary and insecure about the value of their digital wealth. This led to Bitcoin’s price spiraling down to $4,000 levels. Fortunately, key figures in the…

Addicted to Crypto? – CoinDesk

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The voice sounds groggy, like he just woke up. “Hello?” It’s 1:30 p.m. where I’m calling from in Denver, but 3:30 a.m. in Hong Kong, at the crypto offices of Sam Bankman-Fried, or “SBF.” He’s already at his desk. He’s always at his desk. “Did I wake you up?” I ask. “No, I woke up a little before.” SBF is a Wall Street trader-turned-crypto-trader-turned-CEO of FTX, a crypto derivatives exchange, which describes itself as “built by traders, for traders.” He’s always at his desk is not a figure of speech.…

US Fed economists are exploring the “intrinsic” value drivers of CBDCs

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The Federal Reserve has broadened its research on central bank digital currencies, or CBDCs, in a new review that was posted to its website Monday. In a report titled, “Central Bank Digital Currency: A Literature Review,” Fed economists Francesca Carapella and Jean Flemming compiled research exploring the potential impact of a digital dollar on commercial banking and monetary policy. The review provides a theoretical underpinning for understanding how CBDCs could influence consumer adoption and financial stability. The authors write: “From a theoretical standpoint, the introduction of a central bank digital…

Pfizer COVID-19 Vaccine Efficacy Spurs Market Surge

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Following the positive news about the Pfizer COVID-19 vaccine efficacy, the stock market has responded with big jumps. The first interim COVID-19 vaccine analysis result from the duo of Pfizer Inc (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) is out and the COVID-19 vaccine candidate shows about 90% efficacy. Per the report from CNBC, both pharmaceutical giants who have been working tirelessly on their COVID-19 vaccine candidate revealed on Monday that the recent trial findings with the reported effective rate in preventing COVID-19 infection rate were recorded amongst those who…

3 reasons why Bitcoin price abruptly dropped 6% after reaching $15,800

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The price of Bitcoin (BTC) rose to as high as $15,840 before crashing to $14,800. Just five hours after reaching an intraday top, the dominant cryptocurrency dropped over 6%. This massive spike in volatility was likely caused by three major factors. The three catalysts for the abrupt downtrend were the recovery of the dollar, the decline in gold price as Pfizer announced that its COVID-19 vaccine trials are producing positive results, and whales dumping BTC. BTC/USD 4-hour chart. Source: TradingView.com Precious metals and Bitcoin fell in tandem According to the…