Bloomberg Report: Active Bitcoin (BTC) Addresses Point Towards $12,000

In brief: The research team at Bloomberg has released the July 2020 Crypto outlook report.  The report explains that the number of active Bitcoin addresses points to demand that could push BTC to $12,000 in the near future. Furthermore, Bitcoin as an asset seems to be maturing based on the rising CME futures open interest.  Every month, the research analysts at Bloomberg release their highly informative Crypto Outlook report. The July edition was released yesterday, July 2nd and it highlights the growing demand for Bitcoin by investors and traders. By…

Bitcoin 90-Day Active Supply Soars to Pre-2017 Bull Run Level: Report

A new report analyzing on-chain activity says that Bitcoin (BTC) is now due for a bullish phase based on supply movements. Published by asset manager Stack Funds on July 2, the findings suggest that 90-day active supply is dictating bullish potential for BTC/USD. BTC price to rise “sooner rather than later” Publishing an accompanying chart for the metric, Stack argued that it has important implications for historical price behavior. “The data provides an indication of two folds. Firstly, the 90d % of Bitcoin active supply has tapered over the past…

Bug in Moscow’s Blockchain Polling System Can Reveal How Users Voted: Report

A vulnerability in a blockchain-based system used in Russia’s recent poll meant users votes could be decrypted, journalists found. On Wednesday, the final day of a vote on constitutional amendments, Russian media outlet Meduza published research showing that the keys for decrypting votes could be retrieved using the HTML code of the electronic ballot.  Over the past week, the country has voted to approve or reject changes to Russia’s constitution, the most striking of which eliminated the two-term restriction for presidents in office, effectively allowing Vladimir Putin to run for…

Binance Security Report Sheds Light On Crypto Scams

A report released by major crypto exchange Binance illustrates how scams targeting cryptocurrency investors attempt to gain credibility. In the report published on June 30, the exchange explained that its Binance Sentry risk investigation service observed reports of fraudulent investment schemes promising quick or exponential returns on cryptocurrency investments. The frauds do not just concern crypto but also forex, binary options and contracts for difference (CFDs). Binance published the report after a Bitcoin (BTC) scam targeted the residents of Winnipeg, Canada, in late June. Scams are often well-organized, big operations…

New Report Sees Blockchain as Possible Cure for Labor Market Woes

A new report from the American Council on Education argues that blockchain technology can help to restore individuals’ control over their credentials and better equip them in an increasingly insecure global labor market. Funded by the United States Department of Education, the report was published June 8, drawing its conclusions based upon research conducted from November 2019 through February 2020.  Even prior to the COVID-19 pandemic, its authors note that as of December 2019, data from the Federal Reserve indicated that four in 10 recent college graduates were underemployed and…

Market Wrap: Bitcoin Flat as Stocks Swell on Positive Jobs Report

While the market expects bitcoin to be calm over the next few days, attention is now on the economy, with the U.S. looking as if it turned a corner in May. However, some observers see fundamental problems ahead.   Bitcoin (BTC) was trading around $9,735 as of 20:00 UTC (4 p.m. ET), gaining 1% over the previous 24 hours.  At 00:00 UTC on Friday (8:00 p.m. Thursday EDT), the world’s largest cryptocurrency by market capitalization was changing hands around $9,800 on spot exchanges like Coinbase. The price stayed around there until…

U.S. Stocks Dull Bitcoin Appeal on Optimistic Jobs Report

Spot bitcoin fell was down 1.32 percent at $9,659 per token ahead of the New York opening bell Friday. Bitcoin futures slid 1.82 percent to $9,715. The move downhill appeared as the U.S. futures headed higher following jobs report at 0830 ET. Bitcoin prices eased ahead of hugely awaited U.S. jobs report on Friday as investors pinned their hopes on economic recovery. The spot bitcoin rate fell 1.32 percent to $9,659 per token, while CME futures linked to the Bitcoin market were down 1.89 percent at $9,715. In contrast, the…

Dow Futures Stumble Ahead of Ominous Nonfarm Payrolls Report

Dow Jones futures rose by as much as 64 points Thursday night before paring gains. The Dow closed higher in New York, capping off its longest winning streak in five weeks. The Labor Department will release the May nonfarm payrolls report Friday at 8:30 a.m. ET. Eight million job losses are expected. Futures on the Dow and broader U.S. stock market reversed modest gains Thursday evening, as investors paused in anticipation of May employment numbers. Stock Futures Give Back Modest Gains Stock futures traded mixed Thursday evening. Dow Jones futures…

Bitcoin Price Will Rise to $28K in 2020, Latest Bloomberg Report Reveals

As traders eye the biggest quantitative easing program ever undertaken, Bitcoin could outperform the wider market in 2020 with investors scrambling to keep up with a rapidly evolving and uncertain situation. Bloomberg provided its outlook on cryptocurrencies mainly saying that all signs point to Bitcoin going on the major bull run in 2020, the only question is whether it will break the all-time high of $20,000. The latest report says Bitcoin could retest the record highs from 2017, and may even go as high as $28,000. The report says that…

Blockchain Firms Flocked to Hong Kong in 2019: Report

More blockchain companies set up shop in Hong Kong in 2019 than firms from any other fintech sub-sector, according to a report from the region’s Financial Services and the Treasury Bureau. Representing 39% of the 57 fintechs that InvestHK, the government-owned inward investment advocate, wooed last year, blockchain outgrew the wealth tech, payments, cybersecurity, regulatory tech, credit tech and insurance tech sectors as Hong Kong’s foreign fintech relocation engine. Those efforts appear to be paying off in more ways than one. Hong Kong had four times higher than average demand…