Day: January 8, 2021

Wall Street Cheers on Confirmation of Joe Biden as President, Nasdaq Closes Above 13,000

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As more clarity emerges about the Democrats taking control of both chambers, Wall Street focuses more on the arrival of the next fiscal stimulus ahead as Biden takes the chair on January 20. On Thursday, January 7, Wall Street cheered as stock indexes continued to climb new highs. After all the drama that unfolded at Capitol Hill, Washington D.C, Congress finally confirmed the election of Joe Biden as President which also had an impact on the Wall Street sentiments. The tech-heavy Nasdaq Composite (INDEXNASDAQ: .IXIC) surged 2.56% of 320 points…

Bitcoin (BTC) Price Breaks $40,000 for the First Time in History

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While being projected to grow further, the much-celebrated Bitcoin price at $40,000 may be the coin’s long-term support level on its way to new peaks in the future. There seems to be no limit to the record Bitcoin is set to break as the first-ever digital currency has broken the $40,000 price benchmark for the first time in its more than a decade history. According to a Cointelegraph report, Bitcoin (BTC) broke the $40,000 price target on January 7th, marking a significant milestone for Bitcoin in the new year. The…

Kenyan crypto firms on notice as digital tax law takes effect

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Kenya’s planned Digital Service Tax, or DST, came into effect at the start of 2021. The DST is part of the country’s 2020 revamped Finance Act that focused on the digital services market among other sectors. Based on the provisions of the new tax regime, e-market transactions including cryptocurrency payments now attract a 1.5% levy. Reginald Alango, a Kenya country representative at non-custodial peer-to-peer crypto exchange Bitzlato, told Cointelegraph that the new tax policy prescribes a 1.5% tax on the gross transaction value of every crypto sale. Commenting on the…

Token-based electricity top-up app expands in Africa but faces headwinds

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Electroneum has announced the expansion of its service coverage to four additional West African countries — Benin, Togo, Côte d’Ivoire, and Sierra Leone. The move brought the company’s African service coverage to nine nations with Nigeria, Senegal, Mali, Gambia, and Guinea-Bissau already in the mix. With over four million registered users, Electroneum’s African push has focused on utilizing its ETN token for utility bill payments and mobile airtime subscriptions via the company’s mobile app. Nigel Pooley, head of business development at Electroneum told Cointelegraph: “We are very pleased with the hundreds…

Bitcoin buying algos ‘seldom care about price’ in 2021, says analyst

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Bitcoin (BTC) is not far from a blow-off top price implosion but investors are “aggressively” buying the dip. Speaking to Cointelegraph on Jan. 8, popular analyst filbfilb revealed that Bitcoin was due a corrective phase given the pace of recent gains. filbfilb: I don’t think we’re far from blow-off top On Thursday, BTC/USD exceeded $40,000 before a spectacular reversal saw a $2,200 drawdown in under give minutes. Thereafter, fresh attempts to flip $40,000 to support were met with rejection, and press-time levels circled $38,400. BTC/USD 1-day candle chart (Bitstamp). Source:…

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Judge reverses own ‘mistaken’ dismissal of Overstock lawsuit

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A Utah federal judge has reversed his own dismissal of a class-action lawsuit against online retailer Overstock that alleges it manipulated the market by issuing a security token “Digital Dividend” to shareholders last year. On Jan. 6, Judge Kimball reversed his previous decision to dismiss the lawsuit, granting the plaintiffs’ request from October to file an amended consolidated complaint. The class-action was filed by lead plaintiff Mangrove Partners Master Fund in September 2019, alleging that Overstock lied about the purpose of its OSTKO security token — which the plaintiffs claim…

Free Bitcoin Mining Rig | Mine free bitcoin | Bitcoin mining software | Pakistan/india 2021

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Ripple (XRP) Eyes Fresh Rally To $0.35, Dips Remain Supported

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Ripple started a strong recovery wave above the $0.3000 and $0.3100 levels against the US Dollar. XRP price is currently correcting gains from $0.3700, but dips remain limited. Ripple rallied above the $0.3200 and $0.3500 resistance levels against the US dollar. The price tested the $0.3700 zone before correcting lower, but it settled above the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.3480 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair is holding a key…