3 Key Reasons Why Bitcoin Price Could Surge Above $9,500

Bitcoin is trading nicely above the $9,300 and $9,220 support levels against the US Dollar. BTC is likely to continue higher towards $9,500 and $9,800 as long as it is above $9,220. Bitcoin is forming a strong support base above the $9,220 support zone. The price is currently trading above the $9,300 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $9,370 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue…

Anthony Pompliano Continues Push for Pension Fund Crypto Allocation

As pension funds struggle with their funding, Morgan Creek Digital co-founder Anthony Pompliano continues to press them into adding more Bitcoin into their portfolios.  In a letter to investors, Pompliano said pension funds like the California Public Employees’ Retirement System (CalPERS) will do well to invest in Bitcoin instead of increasing their allocations of illiquid assets. “It is as clear as possible — adding an allocation to Bitcoin would increase the risk-adjusted returns for a public pension fund,” said Pompliano.  He suggests pension funds allocate between 1-5% of their portfolios…

OmiseGO’s Parent Company SYNQA Raised $80 Million in Series C

SYNQA, the parent company of OmiseGo formerly known as Omise Holdings, raised $80 million in a fundraising round for new cashless payment ventures. In a June 22 announcement, Thailand-based fintech company SYNQA stated it had raised $80 million in a Series C funding round led by Siam Commercial Bank subsidiary SCB 10X and the Asia-based venture capital group SPARX. Other investors included the Japan-based Toyota Financial Services Corporation, Sumitomo Mitsui Banking Corporation, SMBC Venture Capital, and the Aioi Nissay Dowa Insurance Corporation. According to a press release from SYNQA shared…

$10M Investment From Tether Won’t Change Celsius’ Mission of Sharing

Tether (USDT) makes a $10 million equity investment in the crypto lending platform Celsius Network (CEL) at a $120 million pre-money valuation, bringing the post-money valuation to $150 million.  The company has raised $30 million in its first equity round. In 2018, Celsius completed a $50 million ICO. Celsius CEO Alex Mashinsky told Cointelgraph that his company has continued its policy of not fundraising from venture capital.  Investors will have no say Mashinsky also pointed out that the equity sold in this round does not come with voting rights. This…

There’s a $10+ Million Sell Wall At $9,400 Preventing a Bitcoin Rally

For the umpteenth day in a row, Bitcoin has stalled in the low-$9,000s. Bulls and bears have found themselves at an impasse, with neither side forming a trend as there is also indecision in the equity market. Bears may soon take the high ground as a trader has noted that Bitcoin is approaching a multi-million-dollar sell wall poised to slow and maybe even stop any rally. Related Reading: Ethereum Could Soon “Rally Hard” as DeFi Hits Escape Velocity: Fund Manager There’s a Big Bitcoin Sell Wall Preventing A Rally According to…

3 Things to Know About BTC Futures and Crypto Exchange Liquidation Engines

Most traders fail to understand how Bitcoin (BTC) derivatives exchanges handle their risk. There is a consensus that the winners get paid by the losing parties, but it is not as simple as it seems. Insurance funds were initially designed to protect clients positions during excessive volatile periods. Nonetheless, some exchanges such as BitMEX display a relatively steady insurance fund hoarding despite significant hourly price swings of 10% or higher. BitMEX insurance fund vs. Bitcoin. Source: cointrader.pro The above chart shows that the BitMEX insurance fund (orange line in BTC…

If Bitcoin Traders Short Here, They Have “Terrible Odds” Of Making Money: Analyst

Bitcoin’s consolidation over the past few weeks hasn’t been seen as bullish by everyone. Case in point: institutional traders on the CME are currently net short on BTC futures. Yet, a trader says that those shorting have “terrible odds” of making money. Related Reading: Ethereum Could Soon “Rally Hard” as DeFi Hits Escape Velocity: Fund Manager Bitcoin Is Historically Unlikely to Drop From Here According to an analyst, Bitcoin has a historically low chance of dropping from the $9,000 consolidation. He shared the chart below on June 21st to illustrate this…

Cyprus Hospital Ready to Store COVID-19 Test Results on Blockchain

Blockchain tracking platform VeChain announced on Twitter on June 20 that its blockchain-based medical data management platform co-developed with digital healthcare solution firm I-Dante has gone live and will store COVID-19 testing results. The platform, dubbed E-NewHealthLife, was deployed in the Mediterranean Hospital in the Republic of Cyprus. Cyprus citizens who go to the hospital’s COVID-19 laboratory to undergo real-time diagnostic and antibodies testing, will have their medical and test records on the blockchain. The records will be encrypted, hashed and uploaded onto the VeChainThor Blockchain. The results will also…

Bitcoin’s Battle, Robinhood Tragedy, $2.1B Black Hole: Hodler’s Digest, June 15–21

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Should Bitcoin traders stay bullish if BTC price corrects to $7,700? Bitcoin is at a pivotal point — and the next few weeks are likely to be critical in establishing a medium-term price trend. The resistance zones are still clear: $10,100 to $10,500. According to…

CME Futures: Institutions Are Still Short on Bitcoin as Price Stalls in $9ks

Bitcoin has found itself stuck in the $9,000s for weeks on end. Save for a few flashes of volatility, the cryptocurrency has traded within 10% of $9,000 for nearly two months now. Historical odds say that BTC has an extremely high chance of breaking out of this consolidation, but market data shows that institutions are betting on the downside. Related Reading: Ethereum Could Soon “Rally Hard” as DeFi Hits Escape Velocity: Fund Manager Institutional Traders Are Short on Bitcoin Via CME’s Futures According to the chart below shared by data…