Day: June 17, 2020

This Bullish Continuation Pattern Suggests Bitcoin Is Gearing For Another Lift-Off

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Bitcoin climbed higher above $9,500, but it struggled to clear $9,600 against the US Dollar. BTC is now correcting gains and it seems like there is a bullish flag forming with resistance at $9,450. Bitcoin is currently correcting lower from the $9,595 swing high. The price is trading well below the $9,500 pivot level and testing the 100 hourly simple moving average. There is a bullish flag pattern is likely forming with current resistance near $9,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

Crypto Paradise or Digital Shakedown?

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Cryptocurrencies are reportedly playing a role — for good and ill — in Seattle’s Capitol Hill Autonomous Zone, an area established in support of the African-American community by protesters against aggressive policing.  A project called JamaiCoin claims that six businesses are experimenting with its cryptocurrency as a protest against the US dollar, while separately another business owner claims he’s being extorted for $500 of ‘protection money’ in Bitcoin (BTC). The CHAZ, AKA Capitol Hill Occupied Protest (CHOP), was formed on June 8 by Seattle residents protesting the police murder of…

CoinShares, Ledger and Nomura Release Long-Awaited Custody Platform

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Global investment bank Nomura, digital asset manager CoinShares, and hardware wallet manufacturer Ledger, have finally launched their institutional-grade custody platform Komainu to the wider market. They’re billing Komainu as the first hybrid institutional-grade custody platform that can seamlessly integrate with legacy financial technology. CoinShares first examined existing custody products before deciding to develop their own solution in order to meet their security & business requirements back in 2018. The platform, under the leadership of CoinShares CEO, Jean-Marie Mognetti, is aimed at institutional players and will be regulated by the Jersey…

Singapore Carpooling App Ryde Launches Wallet for BTC Payments

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Singaporean carpooling app Ryde announced the launch of its own cryptocurrency wallet which will facilitate Bitcoin (BTC) payments for its service. In an announcement shared with Cointelegraph on June 17, Ryde claims to be the first and only ride-hailing application to incorporate Bitcoin payments into its ecosystem. The firm’s customers will be able to use Bitcoin to pay their rides starting on June 22. Other cryptocurrencies will follow Ryde’s wallet, RydePay, will allow its users to convert Bitcoin into Ryde coins to top up their balance and pay for their…

Bitcoin Broker River Financial Announces $5.7M Seed Round

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San Francisco-based Bitcoin financial services company River Financial announced it had raised $5.7 million in a new seed funding round. In an update posted to the company website on June 17, River Financial stated it had received a $5.7 million investment in a seed round led by Polychain Capital. Slow Ventures, Castle Island Ventures, DG Lab Fund, Cygni Capital, Pfeffer Capital, IDEO CoLab Ventures, and Square Crypto’s Steve Lee also participated as angel investors. According to River founder and CEO Alex Leishman, the investment will be used to build a…

A “Massive” Bitcoin Move Is Pending: Here’s What Analysts Expect Is Next

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Bitcoin has been stuck in a tight consolidation pattern over the past six to eight weeks. Prices have barely deviated from a relatively tight $2,000 range, with each attempt at breaking out failing dramatically as millions of dollars worth of leveraged positions are liquidated. Yet at long last, a big move is coming, an analyst has said. Related Reading: Buying Bitcoin at $8k or $9k Won’t Matter in 2 Years: Fund Manager Explains He shared the chart below, arguing that his use of a “time-based Fibonacci extension” found that a move…

BTC Investors Bullish Even as Bitcoin Price Is Below $10K — On-Chain Data

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Since recovering from this week’s drop to $8,900, Bitcoin (BTC) price has struggled to gain above $9,600 and this level needs to flip from resistance to support before further upside can occur.  The largest digital-asset on CoinMarketCap has been gradually decoupling from stocks but some short-term correlation to traditional markets remains. This was observed on June 15 when BTC dropped below the $9,000 mark amid some heavy losses in the futures stock market. Some investors and analysts worry that Bitcoin’s correlation to the stock market may break the use case…

Zoom Will Offer End-to-End Encryption to All Users

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On June 17, the popular video conference app, Zoom, officially announced that end-to-end encryption, or E2EE, has finally arrived for their software. It will be provided to both free and paid users, so long as their account has passed the company’s verification process. According to the announcement, during the beta phase that will start from July, users should verify their phone numbers via a text message. The aim of this step is to prevent the mass creation of abusive accounts. Zoom commented: “We are confident that by implementing risk-based authentication,…

77% Of Bitcoin Volume Is Generated by Boomers For This Bitcoin Broker

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The demand from baby boomers is generating most of the growth for San Franciscan Bitcoin (BTC) broker, River Financial. Paul Tudor Jones effect Most surveys conclude that younger generations are more reciprocal to Bitcoin, making this data seem counterintuitive. The company’s co-founder and CEO, Alex Leishman, told Bloomberg that Bitcoin is becoming more mainstream and many investors are following in the footsteps of Paul Tudor Jones. Older generations have all the money Many analysts have noted this year that the institutional interest in Bitcoin is on the rise, with Grayscale…

Binance CEO CZ Explains Why He Disabled Twitter Comments

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Known for his social media-involved leadership of crypto exchange giant Binance, CEO Changpeng Zhao, or CZ, said he disabled Twitter comments on his posts to weed out the scammers.  “To better respond and engage,” CZ told Cointelegraph he partially disabled the ability for the public to comment on his tweets. “This is a new feature from Twitter,” CZ said on June 11. “It seems it’s only rolled out to a small percentage of people.” Social media holds crucial in crypto As an industry based primarily on digital technologies, much of the…

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