Numerous cryptocurrencies remain in a phase of range bound price action but Bitcoin appears to be gearing up for a sharp move soon Author: Cointelegraph By Rakesh Upadhyay Source link
The US central bank’s effort to expand its balance sheet through a pseudo-quantitative easing program could prompt bitcoin to pursue its next bull run. Since October, the Federal Reserve has been buying $60 billion worth of T-bills every month. Moreover, the organization is purchasing another $20 billion in MBS and TSY maturity investments, alongside tens of billions in overnight repos. That has led the Fed’s balance sheet to explode by over $400 billion in about four months. But that is still not quantitative easing (QE), according to an assertive Fed…
On today’s holiday episode of Markets Daily, we celebrate the new year with a classic song from the early days of bitcoin, written and performed by my good friend John Barrett. “Ode to Satoshi” may be purchased from CD-Baby or streamed on YouTube. Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Author: Adam B. Levine…
In recent months, the race for the development of a central bank digital currency is gaining pace. The last signal was launched by Chinese President Xi Jinping, who publicly stated the need to invest public resources in blockchain, slated to be the core technology of the future. The euphoria of the Chinese market following the presidential declaration induced Mark Zuckerberg — who had been encountering considerable resistance from Western authorities since the beginning of the Libra project — to raise the alarm on an alleged Chinese overtaking of digital currency…
China has formally implemented a law governing cryptographic password management as part of its pre-release plans for its central bank digital currency (CBDC). As English-language news media outlet China Money Network reported on Jan. 1, the latest regulations have become legally binding following their unveiling in October last year. Crypto security paves way for CBDC As Cointelegraph reported, the Standing Committee of the 13th National People’s Congress in China passed the crypto law on Oct. 26. It divides passwords at large into three distinct categories — passwords, common passwords, and…
Ripple, the blockchain payment network notionally tied to altcoin XRP, has begun 2020 by releasing funds from its escrow worth $192 million. Data scanned from the XRP blockchain by monitoring resource Whale Alert caught the latest consignment of XRP tokens, which forms one installment of a pre-planned release schedule Ripple began in 2017. Ripple continues 55-month escrow schedule In a blog post at the time, officials explained that they would lock up 55 billion XRP, releasing funds each month over 55 months. The reason, they said, was to incentivize investors…
Bitcoin (BTC) easily succeeds over other cryptocurrencies in multiple key areas, which all but guarantee its future as the standard, noted academic Konrad S. Graf has concluded. In the second installment of a two-part interview with Eurasia Review published Jan. 1, Graf highlighted a plethora of “competitive advantages” inherent to Bitcoin. Graf has sought to gain exposure for Bitcoin through academic essays, which expand beyond its mechanism of action to situate it within the broader economic system. Scarcity Bitcoin wins out over other forms of money — including other cryptocurrencies…
Bitcoin closed 2019’s final fiscal quarter in losses. The benchmark cryptocurrency is down by circa 21.5 percent on a quarter-to-date basis. The move downhill has extended its half-yearly losses to 33.35 percent. Bitcoin in a deep downtrend since July 2019 | Source: TradingView.com Nevertheless, exponential gains during the first two quarters have kept bitcoin inside positive territory. From January 1 until the time of this writing, the cryptocurrency has gone up by more than 95 percent. The long-term performance is keeping the market’s interest in the asset alive. Part of…
Bitcoin (BTC) traded broadly sideways on the first day of the 2020s as consensus swirled ever stronger around a Q1 breakout. Cryptocurrency market daily overview. Source: Coin360 BTC in line for uninspiring January Data from Coin360 and Cointelegraph Markets showed Bitcoin making a decisively calm start to its third decade, with volatility staying away from markets into Wednesday. At press time, BTC/USD traded at just under $7,200, cementing a week in a narrow corridor between $7,090 and $7,495. Bitcoin 7-day price chart. Source: Coin360 The slow yet choppy conditions follow…
Bitcoin price is slowly declining and recently tested $7,100 against the US Dollar. The price is currently recovering, but likely to face hurdles near $7,280 and $7,320. There was a break above a major bearish trend line with resistance near $7,185 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might slide further towards $7,000 unless there is a break above the $7,320 resistance. Bitcoin price is struggling to hold key supports against the US Dollar. BTC remains at a risk of more downsides towards…