Category: News

Missed the Bitcoin Rally? Here’s an Investment Strategy to Ride the Bull Market While Reducing Your Risk

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Bitcoin has come a long way since bottoming out below $4,000 in March. The cryptocurrency clocked a record high above $19,900 early Tuesday and is up nearly 170% this year. While institutional participation has increased, a large part of the retail crowd may have stayed away from the market. For that group, the fear of missing out (FOMO) on the opportunity to make triple-digit gains may have set in over the past few weeks. Yet, investing now while the cryptocurrency is trading near lifetime highs may seem risky because there…

The Dollar Losing A Decade Long Trendline Could Send Bitcoin Skyrocketing

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The year was 2009 and the dollar had just recovered from The Great Recession. Bitcoin was born and grew up while the dollar regained its throne. After ten years of strengthening, the pandemic and associated monetary response to sustain the economy, caused the almighty dollar to weaken again. And according to the Dollar Currency Index losing a decade long trendline, this weakness could allow Bitcoin to gain ground against USD like never before. The Birth Of Bitcoin And The Delayed Death Of The Dollar Bitcoin’s very design and existence are…

Former Trump Economic Advisor and Goldman Sachs President Gary Cohn Warns Bitcoin May Fail

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A former top economic advisor to President Donald Trump and president of Goldman Sachs has shared his view about bitcoin. He claims that the cryptocurrency “lacks some of the basic integrity of a real market,” warning that it “may fail.” Gary Cohn Thinks Bitcoin May Fail Former White House chief economic advisor Gary Cohn said in an interview with Bloomberg’s Emily Chang, published Monday, that bitcoin “may fail.” Cohn served as president and chief operating officer of Goldman Sachs for 26 years. He left the firm in 2016 to become…

CFTC set a new record for lawsuits in crypto this year

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The Commodity Futures Trading Commission, or CFTC, is having a banner year in crypto enforcement. Per the commission’s annual review released on Tuesday, fiscal year 2020 featured seven monetary relief actions against firms engaged in illegal activity in crypto, which is a new record. The review said: “In conjunction with the Division’s Digital Asset Task Force, the Commission brought a record setting seven cases involving digital assets.” These included charges against PanForex for offering leveraged trading to U.S. persons without registering in the U.S., as well as against Digital Platinum…

Visa and BlockFi to launch Bitcoin rewards credit card as adoption grows

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Visa and BlockFi are teaming up to launch a new credit card that rewards users with Bitcoin (BTC), setting the stage for wider mainstream adoption of digital currency. BlockFi, a New York-based startup specializing in crypto-backed loans and savings accounts, announced the partnership on Tuesday. As Bloomberg reported, the new credit card will reward purchases with Bitcoin rather than airline miles or other cashback rewards. Cardholders will be eligible to receive 1.5% of their purchases back in BTC The card, which carries a $200 annual fee, will be issued by…

3 reasons why Bitcoin price violently rejected near $20,000

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Bitcoin (BTC) finally managed to secure a new all-time high but the digital asset rejected strongly near $20,000. On-chain analysts say a sell-off from whales and miners, combined with the $20,000 level acting as a resistance level caused a fierce drop. BTC/USD 15-minute chart. Source: TradingView What led whales and miners to sell Bitcoin? For whales and high-net-worth investors, liquidity is the most important factor. Since they deal with large orders, they need to calculate the slippage their sell orders would cause. Typically, the best period for whales to sell…

Blockchain Bites: Ethereum 2.0 Beacon Chain Ships, Libra Rebrands, ‘Bitcoin’ Google Searches Up

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Ethereum 2.0 hit a major milestone as its “Beacon Chain” went live. Libra “seizes the day” and rebrands to Diem. Google searches for “bitcoin” have doubled since last month.  Top shelf Coinbase <> MicroStrategyMicroStrategy has revealed Coinbase as the platform that executed its $425 million BTC buy that thrust MicroStrategy into the spotlight of the bitcoin community.  Announced Tuesday, Coinbase revealed MicroStrategy’s initial $250 million investment, which occurred over a five-day period in August, came via Coinbase Prime, the exchange’s crypto brokerage arm formed following the acquisition of Tagomi in…

Gemini Donates $50K to HRF to Fund Bitcoin Devs in 2021

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The Human Rights Foundation has secured donations to fund even more Bitcoin developers in 2021, and it’s capping off 2020 by adding another beneficiary to its grant program.  Shared exclusively with CoinDesk, the Winklevoss’ Gemini cryptocurrency exchange is donating $50,000 to the Human Rights Foundation to fund “open source software which [improves] the privacy, usability, and resilience of the Bitcoin Network.” The fresh funding comes on the same day the Human Rights Foundation is announcing its sponsorship of yet another developer, Gloria Zhao. An undergrad at UC Berkeley and president…

Ethereum 2.0: Beacon Chain Upgrade Goes Live

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The launch of Ethereum 2.0 today will be followed by other significant events including the ushering in of the Shard Chains and subsequently the merger of the current PoW Ethereum and the PoS Ethereum. The long-awaited launch of the Ethereum 2.0 upgrade has been initiated as Phase 0 of the Ethereum network has gone live. According to a report by Decrypt, the launch of Phase 0 of the beacon chain which is also called the Beacon Chain represents the first step in the full migration from the current Proof-of-Work (PoW)…