Crypto Fact

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 ...

The cryptocurrency markets saw rapid growth in May with quite a few outshining the largest by market capitalization, bitcoin. The leading cryptocurrency drew most of the attention, rising 67 percent from $5,265 on May 1st to $8,900 by month’s end. A considerable amount of the gains happened in the  lead up to  the New York Blockchain event, that took place during the second week of May. For instance, sharp rallies in bitcoin’s price on May 11 and May 13 pushed its price tag above $7,000 and then $8,000 for the first time in over a year. Despite logging its best monthly gain since 2017 however, BTC ranks tenth on the list of May’s best-performing cryptocurrencies, according to  Messari.io  data.   Names like Chainlink (LINK), Dent (DENT), bitcoin SV (BSV), Holochain (HOT) and bitcoin gold (BTG) took a clear lead, each rising between 65 and 256 percent against their respective trading pairs with the U.S dollar. The total capitalization of the broa...

      Iran’s   plan to battle international sanctions through the use of a   state-sponsored   cryptocurrency   has been brewing for over a year now. It’s been a viable and exciting option for a country that had been cut off from the global economic community up until 2015 and again in 2017, following a short reprieve after agreeing to dial down its nuclear energy program. Despite all of this, Iran is still grappling with international pressures, including a ban on the  acquisition  of United States dollars in the country. American regulators are also looking to  block the use  of cryptocurrency as an alternate means for trade in Iran. A changing stance toward crypto and blockchain     Iran has slowly changed its attitude toward cryptocurrencies over the past few years for a number of reasons. Up until the beginning of 2017 the trade and use of cryptocurrency was of little to no concern to the regul...

    One of the most incredible fallouts from out of the trade war between the United States and China has been the way in which Chinese tech giant Huawei has found itself pushed into a corner. The US had accused that the company’s telecom equipment is used for spying by the Chinese state and eventually banned it from the country. However, this week, the whole thing escalated to a whole new level altogether as the US authorities put it on a blacklist by way of which no American company would be permitted to do business with it in any way, shape or form. Needless to say, it has come as a crippling blow for the company as companies like Google, Intel, and Qualcomm walked away immediately. However, in a new development, Japanese electronics conglomerate Panasonic has decided to do business with Huawei as well, and that comes as a particularly hard pill to swallow for the company. Additionally, as many as four mobile phone carriers in Japan and one in the United Kingdom had...

outh Korean electronics giant Samsung is planning to bring cryptocurrency and blockchain features to more phones across its Galaxy range. Citing a press release from Samsung, Business Korea  reported  Tuesday that the firm would make its digital wallet app available even on lower-cost models and will further expand the crypto features to more jurisdictions. Chae Won-cheol, senior managing director of the product strategy team at Samsung Electronics’ wireless business division, said:     “We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions. We will also expand our service target countries after Korea, the United States and Canada.”    The Samsung Blockchain Wallet is  currently only available  on Samsung’s recently launched flagship phone range, the Galaxy S10. The S10 additionally comes with blockchain features such as digital signing and decentralized apps...

Bitcoin maximalism will cannibalize every other cryptocurrency within two years, according to an investment fund.   BITCOIN PRICE WILL RAGE TO $100,000 Heisenberg also took the opportunity to double down on its optimistic bitcoin price target of $100,00. Keiser says the bullish surge to $100k will be driven by a supply shock. Bitcoin’s capped supply of 21 million will inevitably trigger a gold rush as supply diminishes.  “EVERYTHING EXCEPT BTC WILL DIE OFF” The fund, which has financed some of the biggest crypto startups included Kraken, Bitfinex, and ShapeShift, predicts there’s no future altcoins. Ethereum, XRP, and this year’s best-performing alt-coin BNB, it says, will be rejected by the market. Heisenberg founders Max Keiser and Stacey Herbert claim their  bitcoin maximalism  is a long-held philosophy. Now, that concept will be the sole driving force behind their investment decisions.  BITCOIN DOMINANCE? NOT EVERYONE AGREES Heisenb...