Bitcoin Smashes $10K: Key Reasons Why BTC Could Correct Before Fresh Increase

Bitcoin is up more than 5% and it broke the main $10,000 resistance against the US Dollar. BTC price could correct lower in the short term towards $9,950 before it starts a fresh increase. Bitcoin rallied recently and broke many key hurdles near $9,950 and $10,000 (as discussed yesterday). The price traded to a new weekly high at $10,371 and it is currently correcting lower. There is a key connecting bullish trend line forming with support near $9,740 on the hourly chart of the BTC/USD pair (data feed from Kraken).…

Western Union Makes Takeover Offer for MoneyGram

Western Union might be purchasing cross-border payments company MoneyGram. According to a June 1 article on Bloomberg, the payments giant recently made a takeover offer for MoneyGram. If successful, this would combine the two of the biggest money-transfer companies in the United States.  Ups and downs during pandemic Lockdowns and shelter-in-place orders in response to the coronavirus have closed many businesses across the U.S., including local branches of MoneyGram. The number of digital transactions have risen as people stay at home, but they accounted for just 18% of its money…

Samson Mow’s Infinite Fleet Game 2020 Launch Backed by Major Players

Prominent Bitcoin figures are working together to ensure the alpha release of Pixelmatic’s Infinite Fleet space adventure game is launched by the end of 2020. Infinite Fleet, under the leadership of Blockstream Chief Strategy Officer and Pixelmatic Chief Executive Officer (CEO) Samson Mow, is being backed by major crypto players like Litecoin (LTC) founder Charlie Lee, WhalePanda, “the father of cryptocurrency” Adam Back, former Bitfinex Chief Strategy Officer (CSO) Phil Potter, Max Keiser, and others. Some of them will even have their likenesses used for characters in the game. In-game…

Bitcoin Price Surges to $10,380 as Trump Threatens Military Crackdown

Within the last hour Bitcoin (BTC) price abruptly surged to $10,380 after spending the last month trading in a symmetrical triangle pattern. The move above the crucial $10K mark occurred as U.S. President Donald Trump mobilized local police and the National Guard to disperse masses of protestors on the White House grounds.  After a brief pullback to $10,100 bulls stepped in to provide renewed buying pressure. At the time of writing the top-ranked cryptocurrency on CoinMarketCap has broken above the long-term descending trendline ($10,250) which has been in place since…

Bitcoin Erupts Past $10,000 After Consolidation: $90 Million Liquidated on BitMEX

Bitcoin has finally done it. Minutes ago, the asset rocketed past $10,000 for the first time in weeks, reaching as high as $10,250 in a massive surge upward. This was a more than 7% jump from where the cryptocurrency was trading prior to the move. Traders were largely unaware that this move was going to happen. As a result, data from Skew.com shows that more than $80 million worth of short positions were liquidated on BitMEX alone. These shorts were liquidated within the span of an hour, and these numbers…

Satoshi Nakamoto Had Outside Cryptography Help, Says Early Bitcoin Dev

According to an early Bitcoin (BTC) developer, Satoshi Nakamoto sought help from outside cryptographers prior to launching Bitcoin. Laszlo Hanyecz, who worked closely with Satsohi in 2010, told Cointelegraph that he was befuddled by Satoshi’s choice of the elliptic curve secp256k1. The use of this curve, at the time, was unusual. National Institute of Standards and Technology (NIST) curves were much more common. Many Bitcoin enthusiasts over the years have been speculating as to whether this is luck or genius, as the curve chosen by Satoshi is more efficient and…

Mining Hardware Maker Canaan Looks to Issue $12.4M in Stock to Employees

Cryptocurrency mining application specific integrated circuit (ASIC) producer Canaan filed with the U.S. Securities and Exchange Commission (SEC) to issue around $12.4 million worth of shares to its employees. According to the S-8 form, filed with the SEC on May 27, Canaan is looking to issue nearly $12.4 million of class A ordinary shares with a maximum offering price of $0.24 per share. As Cointelegraph reported in late November 2019, Canaan raised $90 million by selling 10,000,000 shares for $9 each in its initial public offering (IPO). According to Google…

Ledger CTO Explains Why Smartphones Won’t Ever Be Fully Safe for Using Crypto

Cointelegraph interviewed the CTO of Ledger, Charles Guillemet, to learn more about the best practices in securing cryptocurrencies for average users. Ledger is a major producer of hardware wallets, which store cryptocurrency seeds on a dedicated device. As Guillemet explained, hardware wallets protect against possible malware on the user’s computer or mobile device. Both storage and transaction signing are performed on the wallet, which makes sure that the seed is never seen by the device it’s connected to. Ledger uses a chip based on Secure Element technology, which he says…

Protestors Invoke Bitcoin in the Wake of George Floyd’s Death

The United States is witnessing its biggest protests in years following the death of George Floyd at the hands of a police officer in Minneapolis. Some compare it to those after the murder of Martin Luther King Jr. in 1968. The community crypto has chimed in on the situation. Crypto sphere personalities like Binance’s CEO Changpang Zhao reacted via Twitter after six days of massive protests: “#Bitcoin is the peaceful protest” Ripple’s CEO Brad Garlinghouse also reacted via Twitter to the protests, stating that he stands in solidarity “with all…