Day: October 11, 2019

Mark Zuckerberg to Testify Before Congress Over Libra

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Facebook CEO Mark Zuckerberg will defend the proposed Libra cryptocurrency in a testimony before the House Financial Services Committee on October 23. The highly scrutinized proposed cryptocurrency, which is being led by Facebook (NASDAQ:FB), has come under fire from regulators on both sides of the Atlantic due to its potential threat to monetary sovereignty. Now, Zuckerberg must defend the plans before US lawmakers for a third time when he speaks at a hearing entitled “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors.” Previously, Libra had…

FC Bayern Munich Announces Digital Token to Boost Fan Engagement

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Germany’s FC Bayern Munich has become the latest football club to announce blockchain-based merchandise for fans. As reported Oct. 11, the club will partner with Stryking Entertainment to produce digital collectibles of its players. Play FC Bayern Munich past vs. present The collectibles will take the form of digital player cards with the likenesses of FC Bayern Munich players, past and present. Stryking is also creating a fantasy-league style challenge for the cards, offering a gameplay aspect to the collectibles. Fans can build virtual squads and play each other with…

Bitcoin Drops as Investors See Optimistic Signs on Trade Deal

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Bitcoin struggled to maintain gains on Friday as investors processed the possibility of an optimistic trade deal and Brexit. The benchmark cryptocurrency was trading at $8,373.96, down 2.49 percent as of 11:03 UTC. Its downside sentiment came on the back of an unbiased Thursday, wherein its opening and closing price was almost the same. The rate also remained capped under technical barriers, represented by a long-term moving average indicator in the chart below. Meanwhile, sentiments arising from the rejection of yet another Bitcoin exchange-traded fund in the US kept potential buyers…

Is Bitcoin a Safe Haven Like Gold? These Four Charts Say Not Yet

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Galen Moore is a member of the CoinDesk Research team. The following article originally appeared in Institutional Crypto by CoinDesk, a weekly newsletter focused on institutional investment in crypto assets. Sign up for free here. Investors are beginning to have a clear sense why bitcoin exists: it’s digital gold, a narrative that has emerged clearly as other assets flounder, gasping for air in the muddy water of shallow memes. Ethereum has hopped from story to disjointed story; now it’s “money” (OK). Nobody knows what Ripple, er, XRP is. If bitcoin is digital…

Bitcoin Fails at Key Price Hurdle, Risks Return to $8,000

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Bitcoin is facing further losses after the bulls failed to capitalize on price gains seen this week. The cryptocurrency’s quick pullback from a 2.5-week high of $8,830 to below $8,400 this morning has invalidated a bullish breakout on the 4-hour chart seen Wednesday, as seen below. 4-hour chart The failure to hold above the 200-day moving average (MA) at $8,654 has also weakened the bullish outlook on the daily chart and may have shifted risk in favor of a drop to $8,000 in the next 24 hours. Daily chart Bitcoin crossed the…

Bitcoin (BTC) Price Dives $500 But Holding Key Support

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Bitcoin price climbed to $8,950, but failed to continue higher against the US Dollar. The price is down around $500, but it is holding the key $8,400 and $8,350 supports. There is a major bullish trend line forming with support near $8,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could test the $8,350 support and it is likely to recover in the near term. Bitcoin price is trading with swing moves below $9,000 against the US Dollar. BTC declined sharply from $8,950, but…

Crypto Market Cap And Bitcoin Could Rally: BCH, LTC, EOS, ADA Analysis

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The total crypto market cap is holding a strong support area near the $220.0B level. Bitcoin price is consolidating above $8,500 and it could rally further in the near term. Litecoin (LTC) price must clear the $60.00 resistance area to continue higher. BCH price is facing a strong resistance near the $235 and $240 levels. EOS price is consolidating below the $3.250 and $3.300 resistance levels. Cardano (ADA) price is currently consolidating above the $0.0400 support area. The crypto market cap is showing positive signs along with bitcoin and Ethereum…

Ripple (XRP) Price Won’t Go Quietly, Risk of Bounce Grows

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Ripple price is correcting lower and is trading below the $0.2750 pivot level against the US dollar. The price is holding the $0.2700 support area, but it is facing a strong resistance. There is a key bullish trend line forming with support near $0.2700 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could extend its decline to $0.2650 before it starts a fresh increase above $0.2750. Ripple price is struggling to continue higher against the US Dollar and bitcoin. XRP price might decline towards…