Crypto Fact

Earlier today, the Bitcoin price rose to the $7,790 area and still keeps growing. As reported by U.Today earlier, Bitcoin has entered a buying trend and so it could be dangerous to short BTC as the flagship currency aims at retaking the $8,000 level .    Some analysts, though, keep betting on the bearish effect on the market, saying the Bitcoin price may go down. But others are joyfully saying that even though BTC might not surge right away, the overall uptrend is still intact. $13,000 level after a few months of trading sideways? Analyst @CryptoMichNL points out that even though the trendline inside the downtrend is still holding up, overall, the long term bullish trend remains. Bitcoin could trade sideways for a few months, he adds. However, on the chart, the analyst has drawn a rising line to mark the aim he expects Bitcoin to reach after that – the $13,000 area. $BTC   #BITCOIN ✅ Trendline inside downtrend still holding up. ✅ Long term trend...

The legislation enables banks to sell and store cryptocurrencies from January 1, 2020. Other providers will now require a German license.       A new bill in Germany could enable banks to support the sale and custody of Bitcoin ( BTC ) and other cryptocurrencies by 2020. German news agency Handelsblatt  reported  on Nov. 27 that the bill now requires consensus from the country’s 16 states, having successfully passed through the Bundestag, the German federal parliament. Germany on its way to becoming a “crypto-heaven” At present, German banks and financial institutions are prohibited from facilitating the sale of cryptocurrencies for clients. If passed, the proposed bill will transform the status quo.  While an initial draft of the bill had reportedly included a “separation clause” that would have required banks to make recourse to external cryptocurrency custodians or dedicated subsidiaries, the latest version of the proposed law removes ...

   Ethereum ( ETH ) co-founder turned Cardano ( ADA ) creator Charles Hoskinson said that he expects Bitcoin ( BTC ) to be back over $10,000 and reach $100,000 in the future. In a tweet  published  on Nov. 22, Hoskinson urged the cryptocurrency community that Bitcoin is more than speculation, putting the blame on the latest drop in price on news media “FUD” — or fear, uncertainty and doubt — and market manipulation.  A global movement Because there’s more to Bitcoin than just price movements, he expects the world’s biggest cryptocurrency to see more gains in the future. He said: “Bitcoin's price is going down? Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that's going to change the world. We will see 10k btc again and welcome 100k. Crypto is unstoppable. Crypto is the future.” Bitcoin’s recent price action As Cointelegraph  reported , Bitcoin and altcoins have seen a no...

  Friday, Nov. 15 — Crypto markets are mostly showing red candlesticks, while Bitcoin ( BTC ) fails to impress as it crawls its way below the $8,500 price point.    For most of the day, the world’s largest cryptocurrency has been trading within a tight range between $8,700 and $8,600, while taking a sudden swing below the $8,500 price mark during recent hours. Bitcoin is currently trading at a price of $8,480, showing a loss of 1.85% on the day.  Despite Bitcoin’s continued struggle to reach higher highs, Tom Lee, renowned Bitcoin bull, co-founder and Wall Street strategist at Fundstrat Global Advisors, said that he believes that Fundstrat’s $25,000 by 2022 forecast for Bitcoin is still “quite easy to achieve.” He said: “Cryptocurrencies are network value assets, meaning the more people hold the asset, the greater the value. In fact, it’s a log function — so if you double the users hold it, you get a quadrupling of value. To go ...

Advertise with Anonymous Ads Coinbase Wants to Pay Interest on Crypto Coins, Sort Of By holding particular cryptocurrencies in a Coinbase account, the exchange says you’ll receive set returns independent of the market’s spikes.   This June, as the news bristled with headlines about Facebook’s  cryptocurrency-to-be  and the price of bitcoin once again soared, the mood in the San Francisco offices of Coinbase was subdued. In 2017, the cryptocurrency exchange was close to the  frenetic epicenter  of the bitcoin boom. Millions of people used its app to dip their toes into cryptocurrency speculation. Then came the crash. By now, according to Coinbase COO Emilie Choi, the company has weathered a few similar cycles and drawn an important lesson from the highs and lows: Booms don’t last. “It’s a roller-coaster ride here,” she says. “There’s no two ways about it.”     Sure enough, bitcoin plummeted that same afternoon, as crypt...

Bitcoin logged double-digit gains in October, outperforming gold for the first time since June. The world’s biggest cryptocurrency by market value ended last month with a gain of 10.26 percent, snapping a three-month losing streak, according to Bitstamp data. Meanwhile, gold gained just 2.74 percent in October, having dropped 3.17 percent in September – the biggest monthly drop since June 2018. Bitcoin scored gains for five straight months from February to June – its longest winning streak since August 2017. Gold, however, registered losses in February, March and April. The yellow metal did inch higher by 1.7 and 7.9 percent in May and June, respectively, although gains were meager compared to bitcoin’s 62 percent and 25.89 percent rise in the same months. While BTC outshone gold by big margins in the five months to June, the tide turned in favor of the yellow metal in the third quarter. Bitcoin fell by 6, 4 and 13.5 percent in July, August and September, respectively....

   The global crypto community is suddenly full of nice things to say about Xi Jinping, the Chinese president who almost epitomizes the notion of   centralized power . Last Thursday (Oct. 24), Xi delivered  a speech  about the importance of blockchain and the need to accelerate the development of the technology in China in a wide range of sectors, during a “study session” for some of the Chinese Communist Party’s most senior members. Xi added that as governments worldwide have stepped up their efforts in developing blockchain, China should follow suit and allow the country to have greater say in forming global standards for the technology, according to  a transcript  (link in Chinese) published by state news outlet Xinhua. Xi’s proclamations came despite his government’s  ban on crypto currencies   that has been effect since 2017, out of fears that the speculation of the digital currencies would cause chaos in its financial markets....

Since September 30, 2019, two major blockchain networks received major announcements from U.S. regulators. On September 30, 2019, a company called Block.one paid a $24 million fine to the SEC for an unregistered securities offering. In return, the EOS cryptocurrency, a native token of the EOSIO blockchain network, can be used publicly without risk of any securities law violations. The Initial Coin Offering for EOSIO raised a reported $4 billion. Soon thereafter, on October 10, 2019, the CFTC declared Ethereum was a commodity, solidifying certainty that it was not a security.       What is more interesting is that EOS opened an office in Arlington, Virginia, right next to Washington D.C., with numerous politicians including the Virginia Governor at the opening of the office and with Block.one indicating the potential of up to 200 blockchain jobs. As I reported earlier this week, Ripple just opened up a major political and regulatory affairs office in D.C....

  Bitcoin prices shot up 12 percent Friday, climbing off a five-month low touched earlier this week, after Chinese President Xi Jinping said his countrymen should “ seize the opportunity ” afforded by blockchain technology. Although China’s central bank ordered mainland-based coin exchanges to close in 2017, Xi’s comments in support of enterprise blockchain, which share the distributed-ledger technology underpinning bitcoin, is good for sentiment around the crypto industry, said Mati Greenspan, senior market analyst at exchange eToro. And that in turn could be boosting sentiment toward bitcoin, the original blockchain-based digital asset invented a decade ago, Greenspan said. “It’s bullish for the entire crypto industry, in general, when you have the leader of one of the world’s largest economies coming to embrace blockchain technology like this,” Greenspan said in a phone interview from Tel Aviv. “Bitcoin, as we know, is a central player in the blockchain indu...

Bitcoin and cryptocurrency exchanges mostly make money from the fees they charge to users making trades ( though that's beginning to change ). When trade volumes are low, bitcoin exchanges get into trouble–and right now they're pretty low. Combined with the recent slump in the bitcoin price , which  has dragged on the wider market , the nascent cryptocurrency industry could be headed for a perfect storm.  Bitcoin trading volume among the top ten biggest bitcoin and crypto exchanges has fallen to under $200 million a day, according to bitcoin and crypto data company Messari, down 20-fold from a peak of $4 billion per day just a few months ago. "Across all crypto venues, volumes are dismal," eToro's senior market analyst Mati Greenspan wrote in  a Twitter thread , sparking industry concern.

    Bitcoin has plunged more than 30% since hitting a year-to-date high. That fact is clear, but explaining why the world’s largest digital currency has lost momentum in the second half of the year is anything but. Some, like JPMorgan Chase & Co. have pointed to Intercontinental Exchange Inc.’s  new futures contracts  and an unwinding of long positions as likely culprits for the nosedive. Others have pointed to a buildup of technical bearish signals  as setting off its summer swoon. Indexica , an alternative data provider, has a different take. According to their predictive index built on data from Aug. 1 through Oct. 1, Bitcoin’s fall has less to do with the currency itself and more to do with a growing cryptocurrency ecosystem.    According to their latest findings, Bitcoin’s price moves are being driven by competing digital currencies and new blockchain technologies. Indexica’s study showed talk around Mastercard’s partnership...

Could Bitcoin Hit $50,000? In Wild World of Crypto Options, Some Say Yes

View BTC risks falling below $8,000 in the short-term, having created a doji candle last week. Below $8,000, the focus would shift to the 30-day moving average, currently at $7,643, which has a penchant for reversing price pullbacks. The outlook as per the daily chart would turn bearish if the price sees a UTC close below the 30-day MA. The long-term outlook will remain bullish as long as the price is trading above May’s low of $5,263. The case for a short-term correction would weaken if bitcoin bounces from the bullish 5-week moving average, currently at $8,220, and ends up clearing today’s high of $8,746. Bitcoin (BTC) could revisit sub-$8,000 levels in the short-term, as a longer-duration chart is flashing signs of bullish exhaustion for the first time this year. The world’s top cryptocurrency by market capitalization witnessed solid two-way business last week. Prices rose to fresh 12-month highs near $9,100 only to fall back all the way to $8,000 before registering a ...