Bitcoin Still on Track to Breach $20K in Coming Weeks: Analysts

Bitcoinโ€™s revived uptrend could soon lead to a much-anticipated breakout above the $20,000 mark, according to several analysts. โ€œWe have witnessed a large move up over the weekend, with MicroStrategyโ€™s efforts to increase bitcoin holdings from several large players bringing with it fresh optimism,โ€ Matthew Dibb, CEO of Stack Funds, told CoinDesk. โ€œOur belief is that we will see a breach of $20,000 in the coming weeks.โ€ On Friday, business intelligence firm MicroStrategy raised $650 million through a convertible senior note sale to fund bitcoin purchases. Since then, the cryptocurrency…

China has no plan to replace USD with digital yuan, former PBoC head says

The Chinese government is not seeking to replace existing fiat currencies with its own digital currency, according to a former governor of the Peopleโ€™s Bank of China, or PBoC. Zhou Xiaochuan, the president of the Chinese Finance Association and former PBoC governor, claimed that Chinaโ€™s digital yuan is not intended to replace global fiat currencies like the United States dollar and the euro, the South China Morning Post reportedย on Dec. 14. Also known as a digital currency electronic payment, or DCEP, Chinaโ€™s digital yuan is purely designed to transform cross-border…

US Gaming Platform Roblox Delays Its IPO Launch for Next Year 2021

Roblox has delayed its public listing for early next year explaining the massive IPO rush has made it difficult to determine the right price for its shares. Roblox Corporation, the popular US-based gaming platform has delayed its planned Initial Public Offering (IPO) to next year. The gaming company noted that it is currently working on improving its proposal to benefit investors and employees. In a memo to employees access by Reuters, Roblox Chief Executive David Baszucki wrote: โ€œWeโ€™ve seen companies take innovative approaches to creating a more market-based relationship between…

Bitcoin to $20K? It All Depends on US Dollar Performance This Week

Bitcoin wobbled into the start of this weekโ€™s trading session, moving between losses and gains on its neutral weekly outlook. The benchmark cryptocurrency was trading at $19,115.54 as of 10:45 GMT, down 0.27 percent into the European session. For starters, the intraday losses appeared as a part of a profit-taking move by daytraders following Bitcoinโ€™s 7 percent rally during the weekend. Meanwhile, the cryptocurrency also slipped as investorsโ€™ focus shifted to Pfizer-BioNTechโ€™s Covid-19 vaccine approval in the US and the UK. A successful cure for the pandemic raised hopes of…

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Bitcoin, Ether, and XRP Weekly Market Update December 14, 2020

The total crypto market cap erased $7.2 billion from its value since last Monday and now stands at $562.9 billion. The top 10 currencies were all in red for the last seven days with Ripple (XRP) and Bitcoin Cash (BCH) losing 18.4 and 4.2 percent of their value respectively. By the time of writing bitcoin (BTC) is trading at $19,215, ether (ETH) moved up to $588. XRP fell to $0.504. BTC/USD Bitcoin closed the trading session on Sunday, December 6 at $19,369 and after two consecutive green candles on the…

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Weekly Recap: Bitcoin and Ethereum Holders Take Profits, Expecting Lower Lows

Konstantin Anissimov, Executive Director at CEX.IO, shares his insights about the Bitcoin (BTC) and Ethereum (ETH) weekly price movements. Bitcoin Holders Realize Profits, Pushing Price Down 6.87% Large Bitcoin holders seem to be realizing profits after this cryptocurrency rose to a new all-time high of $19,915.14 on December 1st. Since then, the number of addresses holding 10,000 to 100,000 BTC has dropped significantly. Roughly two whales have left the network or redistributed their tokens, representing a 1.85% drop over a short period. The sudden decline in the number of Bitcoin…

Analysts Eye $700 as Ethereum Pushes Toward $600

Ethereum has begun to bounce strongly since last weekโ€™s lows, correlating with a move higher in the price of BTC. ETH currently trades for $590, though moved extremely close to $600 earlier today. Analysts are optimistic that the cryptocurrency will continue its ascent in the days and weeks ahead as it holds key technical levels. Related Reading: Hereโ€™s Why Ethereumโ€™s DeFi Market May Be Near A Bottom Ethereum Expected to Thrust Higher Edward Cleps, a leading crypto trader, recently noted that Ethereum is facing little macro resistance until $700. As…