Tag: Stopping

There’s a $15 Million Bitcoin Sell Wall Stopping $11,500 From Breaking

boss

Bitcoin is pushing higher after correcting as low as $10,600 on Tuesday. As of the time of this article’s writing, the asset trades for $11,200 — a price point nearly 20% higher than that seen seven days ago and one 3% higher in the past 24 hours. Analysts believe that this small rally is a precursor to a break of the ongoing consolidation to the upside. Yet according to order book data shared by a trader, Bitcoin may have trouble resolving higher as it faces strong resistance. Related Reading: Crypto Tidbits:…

There’s a Multi-Million Dollar Buy Wall Stopping Bitcoin From Losing $9,100

boss

Bitcoin has once again flatlined. After failing to surmount $9,500 this last week, the cryptocurrency has settled back down to the $9,200-9,300 region. Analysts remain divided over which way a breakout will take BTC, evidenced by the overall neutral funding rates on futures exchanges. Chart of BTC’s price action over the past few days from TradingView.com Yet crucial order book data suggests that should Bitcoin fall, it will catch a bid on major exchanges. This is important for the bull case as it may confirm BTC has more strength to…

Bitcoin Bears Fail Miserably in Stopping Huge Institutional Demand For Crypto

boss

As much as some cynics, such as traditional investor Mark Dow, like to paint it, institutions are heavily invested in the crypto space already. Sure, the Chicago Board Options Exchange (CBOE) recently divulged that it intends to put its Bitcoin (BTC) futures vehicle on the backburner, but investment statistics accentuate that big names are flooding into this space. Related Reading: Binance Research Report Claims That Less Than 7% of Crypto is Owned by Institutions Institutions Are Still Throwing Money At Crypto Business Insider reports that “major financial institutions,” coupled with…

As ProgPoW Aimed at Stopping ASIC Mining Gets Supporting Votes, New Conspiracies and Debates Appear

boss

Ethereum (ETH) network users have unanimously supported the ProgPoW algorithm, which is expected to make the platform resistant to application-specific integrated circuit (ASIC) miners. Initially, opponents of the update prevailed over supporters by a margin of 96 percent, according to a Cointelegraph report on Feb. 15. The current scenario is exactly opposite, with 94 percent of voters favoring the implementation of ProgPoW, as evidenced by the Etherchain charts. What is ProgPoW? Simply put, ProgPoW is a version of the proof-of-work (PoW) algorithm, which is supposed to smooth the transition of…