These Factors Show Bitcoin Could Soon Explode Above $10,000

Bitcoin is recovering and showing positive signs above the $9,700 level against the US Dollar. BTC price is likely to accelerate higher above $10,000 as long as it is above the 100 hourly SMA. Bitcoin is correcting higher and it recently cleared the $9,740 resistance zone. The price even broke the $9,800 level and it traded as high as $9,884. There is a bullish continuation pattern forming with resistance near $9,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could surge above $9,880 and…

‘Bitcoin and Black America’ Author: Protest by Buying BTC

Bitcoin & Black America author Isaiah Jackson says that people invoking Bitcoin during the protests over the police killing of George Floyd have identified the “real enemy” — a legacy financial system that shuts out African Americans.  Jackson spoke to Cointelegraph on June 4, saying he welcomed pictures on social media of protesters holding up signs promoting the cryptocurrency. He said the result of black people being shut out of the economic system was tragedy. “When the economic system is broken … no matter how hard you try, you get…

Bitcoin Rallied 300% Last Time This Signal Appeared. It Just Happened Again

After rallying as high as $10,400 earlier this week, Bitcoin plunged by nearly $2,000 in 24 hours on BitMEX. It was a move that liquidated over one hundred million worth of derivatives positions. Analysts were quick to respond to the move with expectations of downside in the crypto market. One trader shared that BTC’s price action is suggestive of a return to the $6,000s or $7,000s. Others echoed this. But according to a macro indicator last seen at the start of 2019’s bull run, bulls remain in control of the…

New Head of US Regulator and Former Coinbase Lawyer Invites Banks and Crypto to Collaborate

In a June 4 announcement, the Office of the Comptroller of the Currency (OCC) is looking for banks and crypto firms to weigh in on how the two can interact.  Crypto meets banks The Advanced Notice of Proposed Rulemaking asks banks and industry leaders to respond to a number of questions — notably: “What activities related to cryptocurrencies or cryptoassets are financial services companies or bank customers engaged in and what are the barriers or obstacles to further adoption of crypto-related activities in the banking industry?” Speaking to Cointelegraph, Acting…

‘Satoshi won’t use his coins ever’

The researcher who identified 1.1 million Bitcoins (BTC) that Satoshi Nakamoto mined, said that his research makes him believe that Satoshi was altruistic and will never spend his coins. Sergio Demian Lerner, the designer of the second layer Bitcoin protocol RSK and renowned crypto researchers in the Reddit AMA said that it took him three years to discover privacy flaws in the Bitcoin code that led to the discovery of the Patoshi pattern.  Respects Satoshi’s privacy The Patoshi pattern describes a miner who used a slightly different mining algorithm and…

Revolut Reportedly Fires Dozens of Employees for Coronavirus Cost-Saving Reasons

In an effort to trim expenses, European fintech outfit Revolut has allegedly urged employees to leave, according to staff interviewed by Wired. “Some of the employees allegedly pressured to leave have been left stranded in a foreign country without a job or health insurance in the middle of a pandemic,” describes author Emiliano Mellino, collecting stories from multiple Revolut employees. The company reportedly staffed a great number of employees at multiple locations around the world — Krakow, Poland in particular. The Wired report also notes: “While the Polish government has…

Coronavirus Lockdown Boosts Bitcoin Trading in Russia

On June 4, a new study performed by a number of Russia-based crypto exchanges revealed a significant rise in Bitcoin (BTC) trading across Russia since March amid the COVID-19 lockdown. As RBC reports, representatives from the Russian offices of exchanges like Binance, Garantex, and EXMO, highlighted the growth in the number of users in Russia. This number is relative to the increase in trading volumes from March until June. Boost in registrations from Russia users Gleb Kostarev, head of the representative office of Binance in Russia, explained that the number…

Fed Chair Teases Use of Ethereum-Based Interest Reference Rates

In a May 28 letter to Senator Tom Cotton (R-AR), Jerome Powell, Chairman of the U.S. Federal Reserve, described an interest reference rate based on the Ethereum blockchain, called Ameribor, as effective for some, but not all.  Ameribor is a tool from American Financial Exchange (AFX) that uses the Ethereum blockchain to track interbank lending by minting ERC-721 tokens for each repayment.  The Fed Chair responds on overall interest reference rates  After a Banking, Housing and Urban Affairs Committee hearing in February, U.S. Senator Cotton sent questions over to Chairman Powell.…

Both NXT and Algorand Claim to Have Developed First Proof-of-Stake Chain

Cryptocurrency Algorand (ALGO) claims in its promotional materials to be the first proof-of-stake, or PoS, blockchain, but NXT lead developer Lior Yaffe claimed that his project was first. In a June 3 tweet, Yaffe accused Algorand’s of misleading the cryptocurrency community for marketing purposes, by falsely claiming to be the first PoS blockchain. He wrote: “The algorand marketing machine has misleadingly crowned themselves as the “First Pure Proof of Stake Blockchain.” A bold statement considering that NXT is the first project to introduce a working PoS blockchain after Peercoin pioneered…

Ethereum Community Debates Raising the Block Size Limit, Once Again

Continuing congestion on the Ethereum (ETH) network has led some developers and community members to call for increasing the gas limit, which defines its transaction throughput. Data from Etherscan shows that the average gas price rose more than three-fold since early May, with an average of about 30 Gwei in the last few days.   Source: Etherscan.io According to EthGasStation, this results in an average of a $0.16 fee to send a simple ETH transaction, which uses the least gas possible. ERC-20 token transfers and smart contract calls can cost…