Day: November 9, 2020

CBDC revolution is coming in three years, says Bitcoin naysayer Roubini

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Nouriel Roubini, an award-winning economist and known skeptic of Bitcoin (BTC), is confident that central bank digital currencies, or CBDCs, are the future of money. According to Roubini, global CBDCs like the digital yuan are capable of replacing major financial services and cryptocurrencies in the near future. “They’re gonna be crowding out digital payment systems, or in the private sector, starting with cryptocurrencies that are not really currencies,” the economist said in a Nov. 7 interview with Yahoo Finance. Roubini predicted that a CBDC-powered “revolution” is coming in as soon as…

US Elections Need Blockchain: What Happened with the QFS Conspiracy and Voter Fraud Claims

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The US presidential election has come to an end, as Biden has become the new president-elect. The 2020 presidential election has been rather complicated, as a portion of the ballots collected were done through mail-in ballots, as President Donald Trump has reiterated his stance on voter fraud. Since the election results were announced, Trump has raised claims about voter fraud, and has ignited a new conspiracy theory, that the US Postal Service (USPS) has mislabeled mail-in ballots. This conspiracy theory was promoted by James O’Keefe, a conservative right-wing political activist,…

Here’s Why Bitcoin Could See One More Correction Before Its Uptrend

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From last week’s highs, Bitcoin sustained a heavy correction into Saturday. The cryptocurrency fell from $16,000 to a low of $14,300, marking the first large correction of the recent uptrend. The cryptocurrency has since bounced back as the markets have turned risk-on once again on news of a seeming Biden presidency. While the Nasdaq futures rallied 2%, Bitcoin has reclaimed $15,000 on a daily basis and now trades at $15,400. The issue is that some investors don’t think Bitcoin is out of the woods just yet. Related Reading: Here’s Why…

S2F creator has ‘no doubt’ Bitcoin will hit $100K by December 2021

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PlanB, the creator of the stock-to-flow (S2F) model, reiterated on Nov. 8 that Bitcoin (BTC) is well on its way to hit $100,000. The pseudonymous analyst expects the dominant cryptocurrency to achieve the $100,000 to $288,000 range by December 2021. Bitcoin would have to increase by around 545% from the current price to surpass $100,000. At that price point, the market capitalization of BTC would near $2 trillion, or roughly the same as Apple, the world’s most valuable company.  Bitcoin S2F model. Source: PlanB Why $100,000+ and why is it…

It’s Time Kanye West Quit His 2024 Presidential Aspirations

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Kanye West will not be president anytime soon. Yet, he “conceded” the election race, which he isn’t a part of. Politics is not a game, and we all need to stop acting like it is. Kanye West conceded the presidential election yesterday. Even though there was absolutely no way he was ever going to win — and even though there were even some instances where he didn’t even follow the proper procedure to get put on the ballot in the first place — Kim Kardashian’s husband felt arrogant enough to…

At $15,500 Bitcoin Market Cap Surpasses Corporations Like Disney and PayPal

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Bitcoin’s latest market rally has helped it surpass the market cap of some of the top companies. Another 50% of the current levels can put it above Visa, Mastercard, and JPMorgan. Veteran players from the investing world say that big companies will soon have exposure to Bitcoin. The latest Bitcoin (BTC) price rally has once again caught the attention of global investors. Apart from hitting new highs for 2020, Bitcoin is challenging some of the biggest corporations in the market. At press time, Bitcoin (BTC) is trading at $15,439 with…

Chainlink (LINK) Looks Ready For Another Leg Higher Over $13

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Chainlink (LINK) started a sharp rise from the $10.00 support zone. It traded as high as $13.64, corrected lower, and now it is likely preparing for another leg higher over $13.00. Chainlink token price started a major upward move after it cleared the $11.50 resistance against the US dollar. The price traded as high as $13.64 and settled well above the 100 simple moving average (4-hours). There is a key contracting triangle forming with resistance near $12.70 on the 4-hours chart of the LINK/USD pair (data source from Kraken). The…

Ethereum Lacks Momentum, Showing Early Signs of a Minor Drop

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Ethereum climbed higher nicely from the $425 support zone against the US Dollar. ETH price is struggling to clear the $460 resistance and it could revisit $420 in the near term. Ethereum is showing a few bearish signs below the key $460 resistance level. The price is trading above the $440 support and the 100 hourly simple moving average. There is a major contracting triangle forming with support near $450 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline towards $420 if it fails to…

Bitcoin Struggles Near $15.6K, How 100 SMA Could Trigger An Upside

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Bitcoin price started a fresh increase from the $14,380 swing low against the US Dollar. BTC is back above the 100 hourly SMA, but it must surpass $15,600 for more upsides in the near term. Bitcoin started a strong upward move after trading as low as $14,380. The price climbed back above $15,200 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $15,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely…