Day: December 17, 2020

Bitcoin rally is ‘just getting started’ says Mati Greenspan

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In a newsletter released today, the Quantum Economics founder said Bitcoin’s recent rally past $23,000 — a gain of roughly 29% in a week — didn’t necessarily mean the market was “overheating” and heading for a crash like the one in December 2017. “In our opinion, things are just getting started,” said Greenspan. “We probably shouldn’t be using any old yardsticks when it comes to determining what kinds of percentage gains are possible.” He added: “Should demand continue to pick up from these levels and supply continue to constrain, there…

Bitcoin is ‘more religion than solution,’ says billionaire Mark Cuban

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Mark Cuban, the billionaire who once said that bananas are a better medium of exchange than Bitcoin, has doubled down on his view that the asset is more like a collectible than a reliable financial instrument. 2020 has been a big year in terms of institutional Bitcoin (BTC) adoption. Companies like MicroStrategy and Grayscale significantly increased their crypto holdings, while those associated with traditional finance (like CNBC’s Jim Cramer) found themselves changing their tune when it comes to crypto ownership. Even so, the asset has its detractors. In a Forbes…

Ethereum to Rally 20%+ Against BTC as Market Goes Parabolic

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Ethereum has been trailing slightly behind Bitcoin and the rest of the crypto market as of late, which comes as all eyes shift to watch BTC’s price action Although it has lagged behind it, ETH is still showing some immense signs of strength as it pushes towards $700, with analysts widely watching for it to see further upside Most altcoins are currently trailing behind the gains seen by Bitcoin, which is a fairly standard occurrence within parabolic BTC bull markets As seen last night when Bitcoin faced a rejection at…

Don’t think Bitcoin’s supply is finite? You probably don’t understand the tech

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Bitcoin’s (BTC) price rise has brought all sorts of comments out of the woodwork. Although many carry a bullish tint, some folks still doubt crypto as a new store of value class. David Rosenberg, the chief economist and strategist, as well as president, of the firm Rosenberg Research & Associates, recently described gold’s supply as more predictable than Bitcoin’s. “Everybody seems to believe that we’re going to get to that 21 million cap on the supply constraint, but there’s really nothing in the protocol to suggest that the supply of…

LA Sheriffs May See Real Justice After Inadequate ‘Kobe Bryant Law’

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This is an opinion. California Governor Gavin Newsom passed the Kobe Byrant Law in September after it was revealed that LA County Sheriffs spread photos of Kobe Bryant’s dead body. The law made it a misdemeanor for first responders to take unauthorized photos of a crime scene. Today, the husband of one of the victims in the Bryant crash is suing the LA Sheriffs Department in an attempt to see actual justice. When California Governor Gavin Newsom passed the Kobe Bryant Law back in September, he probably thought it was…

Former CEOs grapple with DAO governance – Cointelegraph Magazine

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One morning in July of 2019, Kain Warwick awoke at 6:30 to a grim phone call from his co-founder and CTO, Justin Moses. “We have a problem,” said Moses. Synthetix, the synthetic asset protocol that Warwick, Moses, and their team had been building for over two years, had fallen victim to a crippling exploit: an attacker with the pseudonym “Onyx” had created $11 billion of synthetic asset debt — over 275 times what Synthetix was worth — and was taunting team members and sowing chaos in public channels.   These days,…

Bitcoin Breaks Record For Longest Weekly Uptrend Ever, According To “Parabolic” Indicator

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Bitcoin had a major breakout last night, taking the asset to a price well above $20,000 to close out what has been a stellar year for the cryptocurrency. Although 2020 was a monumental year for many reasons, it also marks a milestone for Bitcoin, in which a record has been set for the longest weekly uptrend in the asset’s history, according to a “parabolic” indicator. Will Bitcoin Go Parabolic Following Longest Weekly Uptrend In Crypto History? Although there have been very few full market cycles in cryptocurrencies, there have been…

DeVere CEO says Bitcoin will rise 50% and ‘possibly double’ in 2021

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Bitcoin’s (BTC) parabolic rally is only just getting started, according to Nigel Green, founder and CEO of the Dubai-based financial advisory firm deVere Group. In an article that was published to Newsmax on Thursday, Green boldly proclaimed that Bitcoin will have another “record-breaking year” in 2021, with prices set to explode by at least 50% and “possibly double.” He made the prediction just as Bitcoin peaked above $23,000 on Thursday for the first time ever. The flagship digital currency would go on to trade as high as $23,777 on Bitstamp…

Bitcoin bull market pulls Kusama (KSM), Decred (DCR) and Qtum price higher

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Since breaking through the critical psychological resistance at $20,000, Bitcoin (BTC) price has moved even higher. In the early trading hours, the top-ranked digital asset pushed as high as $23,800 before pulling back to $23,000 but the trend of investors purchasing each dip appears to still be in play. Crypto market data daily view. Source: Coin360 Although Bitcoin is clearly in a bull phase, many investors are wary to buy at the current levels due to fears of a sharp reversal taking place. Therefore, they are on the lookout for other…