Day: June 28, 2020

Bitcoin Is Recovering But $9,300 Could Trigger A Fresh Decline

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Bitcoin is currently correcting higher from the $8,813 swing low against the US Dollar. BTC is trading above $9,000, but it is facing many hurdles near $9,200 and $9,300. Bitcoin started an upside correction after trading to a new monthly low at $8,813. The price is recovering nicely and it is trading above the $9,000 level. There is a key bearish trend line forming with resistance near $9,260 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh decrease if it fails…

BitMEX Launching Services for Corporate Customers

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Hong Kong-based cryptocurrency derivatives exchange BitMEX is launching a new program with benefits for its corporate clients including enhanced security service, and accounting. According to a June 22 announcement on BitMEX’s support page, the exchange is launching a new program for corporate customers, BitMEX Corporate. Accounts on the crypto exchange that are not owned and operated by an individual can now ensure their BitMEX holdings are the legal property of a corporation. BitMEX said the new features were created for clients who need “different ownership structures for their accounts”, the…

Last Time This Technical Sign Flashed, Bitcoin Dumped 60%. It’s Nearly Back

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After a more than 150% rally from March’s lows, Bitcoin’s upward momentum has petered out over recent weeks. For nearly two months, the cryptocurrency has been caught in a tight range between $8,500-10,000. This has resulted in a key trend indicator halting its uptrend. According to a trader, if the indicator slides further, there’s a high chance a strong drop will ensue. Related Reading: There’s a Bitfinex “Whale” Looking to Buy Bitcoin in the High-$8,000s Bitcoin Could Drop as Trend Indicator Poises to Roll Over According to a trader, Bitcoin’s…

Ghost Coin to be Deployed as Payment for Hong Kong Vending Machines

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Ghost Coin, the proof-of-stake privacy coin led by John McAfee, can now be used in vending machines in Hong Kong Disneyland. Ghost announced on Twitter that it partnered with crypto payment system ivendPay to deploy the coin in over 60 vending machines around Hong Kong, even those in Hong Kong Disneyland.  “When we 1st launched $GHOST our vision was not only to focus on #Privacy but also on real user adoption,” Ghost said on Twitter.  The privacy coin and distributed exchange went live last week amid the ongoing controversy surrounding…

The Signal That Marked Bitcoin’s 2019 and 2020 Highs Has Yet to Flash

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There are many analysts saying that Bitcoin looks like it’s at a medium-term high. As reported by NewsBTC previously, a trader said that the cryptocurrency is trading in a textbook “distribution” pattern. Referencing the chart below, the trader said: “A couple more clues developing that lend themselves to HTF distribution. 1. Rising Demand on the verge of failing. 2. Side by side, ascent vs descent with selling the dominant pressure from volume. We break to the downside, I’m not interested in $7ks. Much lower.” Bitcoin distribution analysis shared by trader…

Massive Cyberattack on Australia Uses Cryptojacking Exploits

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The Australian Cyber Security Centre said a group of “state actors” hacked Australian networks on June 19 and one of the vulnerabilities they exploited is related to cryptojacking malware attacks.  According to the 48-page report released on June 24, the threat actors exploited four critical vulnerabilities in Telerik UI, including CVE-2019-18935, which was recently leveraged by the Blue Mockingbird malware gang to infect thousands of systems with XMRRig, a Monero (XMR) mining software. Vulnerability mostly used for cryptojacking purposes Although the advisory didn’t say if hackers could have installed cryptojacking…

Blockchain Can Provide the Right to Privacy That Everyone Deserves

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Contrary to popular belief, privacy is not for those with something to hide but with everything to lose. Authoritarian governments across the globe are increasingly using surveillance to control their citizens at the expense of personal freedoms and civil liberties. The privacy of one’s financial transactions is intricately linked to one’s personal liberty. Without privacy (and financial means), true freedom is at risk. We are rendered powerless to resist oppression. The promise of cryptocurrency is that it is uncensorable and unseizable money for the people. But Bitcoin (BTC), which was…

New Bitcoin Price Model Suggests ‘Exponential’ Bull Run in One Month

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Earlier this week on-chain analyst Willy Woo released a new price model for Bitcoin (BTC). The model identifies the start of exponential Bitcoin bull runs based on historical data. According to the model, Bitcoin may be just one month away from an official bull market. Will a BTC bull market begin in July? The price of Bitcoin was hovering around $10,000 in February before the coronavirus pandemic led to the U.S. stock market to correct sharply. At that time, analysts expected BTC to pull back as the price had also…

Innovation Grant Worth $15 Million to Encourage Asian Blockchain Startups

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Building Cities Beyond (BCB) Blockchain, a Singapore based tech solution company for smart cities, has launched an innovation grant, worth $15 million, to encourage development on its ecosystem, according to Fintech News Singapore. This innovation grant comes as the company announced partnerships with leading accelerators in Asia to incubate selected projects. Targeting Asian projects The BCB Innovation Grant is said to target up to 1,000 projects within Asia. The $15 million grant will cater to technology startups in the region, with grant participants also gaining access to BCB workshops and…

BTC, ETH, BCH, XLM, LINK

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Coronavirus cases across the globe topped 10 million today and the number of new cases in the U.S. has risen to new records in the past few days. This has put the economic revival in jeopardy as equities markets could face selling pressure. Meanwhile, safe haven assets like gold continue to perform well.  Crypto market data daily view. Source: Coin360 Earlier this week Bloomberg analyst Mike McGlone said that the drop in Bitcoin’s (BTC) volatility has resulted in tightening of the Bollinger Bands, a popular technical analysis indicator used by…

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