Bitcoin’s Lightning Network Got Some Upgrades This Week

While so-called “DeFi degens” are busy bidding up the price of food-themed tokens, on the other end of crypto’s DeFi spectrum two teams working on the most popular implementations of Bitcoin’s Lightning Network have been busy pushing out new features.  This week, both Lightning Labs, which maintains the Lightning Network Daemon (LND) implementation of the Lightning Network, and Blockstream, which maintains the c-lightning implementation, updated their tech stacks.  Read more: What Is Bitcoin’s Lightning Network? For Lightning Labs, the update comes to its Faraday suite with the addition of an automated…

Argentina’s Peso Plunges After Central Bank Tightens Foreign Exchange Controls: Citizens Discuss Bitcoin Adoption

The Argentine peso plunged by more than 10% shortly after the country’s central bank announced measures to tighten controls on the movement of foreign currency. The peso, which is officially pegged at 72 for every USD, touched new lows of 145 to the greenback on the black market. The latest plunge is seen as a further boost to bitcoin and other cryptocurrencies in a country that has been plagued by currency challenges for over a century. Still, in a statement released on its Spanish language website, the Board of the…

UBS Gold Price Prediction Buoys Mid-Term Bitcoin Bull Case

UBS, a top-two investment bank in Switzerland after Credit Suisse, has a bullish outlook on gold. In the medium term, the improving sentiment around the precious metal could buoy the bull case of Bitcoin (BTC). Many high-net-worth investors within the cryptocurrency space describe Bitcoin as gold 2.0. Billionaire investors the Winklevoss twins have consistently said they believe BTC is a better store of value than gold. The monthly chart of Bitcoin dating back to 2015. Source: XBTUSD on TradingView.com According to the data from Skew, the correlation between BTC and…

Critical On-Chain Signal Predicts That Bitcoin’s Next Move Will Be Upward

As many analysts predicted, Bitcoin was cleanly rejected in the low-$11,000s on Wednesday due to a cluster of resistance in that region. $11,000 is a price point that BTC bounced off multiple times during last month’s consolidation. Critical on-chain data, though, predicts that the leading cryptocurrency is poised to move higher in the medium term. This adds to the bullish long-term perspective imposed by other on-chain data points. Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000 Bitcoin Could Soon Surge Upward: Here’s Why One cryptocurrency trader recently…

Technicals Suggest Bitcoin Looks Ready For Another Leg Higher Over $11K

Bitcoin price corrected lower, but it found support near the $10,750 zone against the US Dollar. BTC is currently rising and it looks ready for another break above the $11,000 resistance. Bitcoin is trading in a positive zone above the $10,650 and $10,750 support levels. The price is likely to break the $11,000 resistance as long as it is above the 100 hourly simple moving average. There is a key bullish trend line forming with support near $10,880 on the hourly chart of the BTC/USD pair (data feed from Kraken).…

Bitcoin Unlimited Launches Two-Option Voting App Powered by Bitcoin Cash

On September 16, the Bitcoin Unlimited development team launched a new application called Votepeer. The software is powered by the Bitcoin Cash network and allows anyone to set up a transparent two-option voting process. This week a couple of Bitcoin Unlimited (BU) developers released a new voting protocol called Votepeer. BU software engineers, Dagur and Jørgen Svennevik Notland, revealed the initial version of Votepeer, which can be located at the website voter.cash. “Votepeer is powered by Bitcoin Cash and allows anyone to easily set up a two-option vote using the…

Market Wrap: Bitcoin Slumps to $10.7K; Ethereum Fees Rise Again

Bitcoin lost momentum Thursday while DeFi delirium pushes fees on Ethereum back up. Bitcoin (BTC) trading around $10,920 as of 20:00 UTC (4 p.m. ET). Slipping 0.73% over the previous 24 hours. Bitcoin’s 24-hour range: $10,735-$11,052 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since September 15. Source: TradingView Bitcoin headed downward Thursday, going as low as $10,735 on spot exchanges such as Coinbase, but recovering to $10,920 as of press time.  Andrew Tu, an executive at quant trading firm…

How The Xi Pump of 2019 Backs Up Bitcoin Bearish Retest Theory

Several signs now suggest that Bitcoin’s recent pump to $11,000 that failed to hold could have been a bearish retest and rejection from support turned resistance. And while a bullish retest taking place at the same time has buyers confident, price action closely resembling last year’s Xi pump could be bad for the cryptocurrency. Bitcoin Bearish Retest Theory Gains Ground Due To Comparison With 2019 The recent possible “top” at the 2020 high of $12,400 shares many parallels with the top in 2019 when Bitcoin was rejected from $13,800. For…