Bitcoin Daily Chart Indicates Crucial Bullish Breakout Towards $10,000

Bitcoin is rising steadily and it recently broke the $9,400 resistance against the US Dollar. BTC’s daily chart suggests that the bulls are likely aiming a larger rally towards $10,000. Bitcoin formed a strong support base near $9,000 and recently started a fresh increase. The price is currently trading well above the $9,200 support and the 100-day simple moving average. There was a break above a crucial bearish trend line with resistance near $9,350 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair could correct…

Former Facebook Counsel Joins Coinbase as Chief Legal Officer

Paul Grewal, a former US magistrate judge in California and Deputy General Counsel for Facebook, is joining crypto exchange Coinbase’s legal team. In a July 8 announcement on the Coinbase blog, the crypto exchange said the addition of Grewal will help “pave the way for the next phase of crypto awareness and adoption.” The new Chief Legal Officer will also lead the legal team as Coinbase partners with financial services regulators, and develops and releases new products and services. According to Coinbase, Grewal oversaw more than a thousand cases during…

Mass Adoption Depends on Bridging Digital Divide

The World Economic Forum’s head of blockchain and data policy, Sheila Warren, says that people who have turned away, or been excluded, from traditional financial systems are the ones most likely to drive mass adoption.  Warren spoke at the Unitize conference on July 8 on the path to mass adoption with moderator Shira Frank. She said bridging the digital divide is the key to making blockchain mainstream.  Screen capture from Unitize According to Warren, many powerful financial institutions aren’t really benefitting society so much as serving a “small section” of…

Prosecutors Expect Guilty Plea From Alleged $7m Crypto Fraudster

Jon Barry Thompson, the accused operator of a fraudulent crypto escrow service that defrauded $7 million from two customers, is expected to enter a guilty plea — with prosecutors aiming to finalize proceedings in September. “The parties expect to reach a disposition of this matter and respectfully request that the court set a control date in September 2020 for the entry of that disposition,” the prosecution wrote in a letter submitted to the court. In April, Thompson’s counsel, Peggy Cross-Goldenberg, indicated that both sides had made “substantial progress” towards disposition.…

Bitso Hits 1M Users as Crypto Adoption Spikes in Latin America

Bitso, one of the biggest cryptocurrency exchanges in Latin America, has hit 1 million users prior to its upcoming launch in Brazil. Santiago Alvarado, director of cross-border payments at Bitso, discussed the latest developments in leveraging crypto for cross-border payments in Latin America during a Unitize panel on July 8. The discussion was joined by Ripple’s director of product Craig DeWitt and Prysm Group’s Reed Cataldo. Bitso tops Argentinian market after launching in February During the panel, Alvarado revealed that Bitso reached a major milestone by hitting a one million…

If Crypto Traders Abandoned Litecoin Why Are Investors Hoarding LTC?

Price wise, Litecoin (LTC) has had a pretty rough year and currently the altcoin is down 51% over the past twelve months. The lack of GitHub activity and planned protocol upgrades have Litecoin co-founder Charlie Lee to admit 2019 saw a historic low in the number of developers working on Litecoin Core, the software behind network nodes. The beginning of 2020 was no different and Charlie Lee asked for voluntary LTC miner donations to help boost development funding. Uncertainties regarding Litecoin’s future have caused investors to lose interest in the…

These Five Technical Signs Show Bitcoin Is on the Verge of Testing $10,500

Bitcoin has continued to push higher after a weekend dip. As of this article’s writing, the leading cryptocurrency trades for $9,450, a few basis points below the local high of $9,480. The cryptocurrency is still waiting to surmount the crucial $9,500 level. Yet, analysts say that there’s a rapidly forming Bitcoin bull case. Related Reading: Economist Steve Hanke: Bitcoin Is Not a Currency, It’s a “Speculative Asset” Bitcoin’s Technical Outlook Is Starting to Favor Bulls Until it breaks above $10,500 or below $8,500, Bitcoin is stuck in a macro consolidation.…

Why Bitcoin Risks a 40% Correction After its Retest of Bollinger Band Mid-Line

Bitcoin price is at a critical moment in its market cycle. And although it’s been said dozens of times before, the next move could choose the trend direction for months to come. At this very moment, the asset is testing a level that in the past, rejection has caused a 40% drop on average. Will the first-ever cryptocurrency make it though the key resistance, or will another 40% collapse follow? Bollinger Bands May Hold the Key To Bitcoin Bull Run Bitcoin price has been trading sideways for months now, reaching…

China’s CBDC Project to Collaborate With More Domestic Enterprises

Development of China’s central bank digital currency, or CBDC, continues to show signs of progress. On July 8, a major domestic e-commerce platform and a video sharing site both joined the CBDC project, according to local news.  Companies Meituan and Bilibilibili have apparently both begun to cooperate with a number of banks involved in the digital Yuan project. Meituan is a major service platform with over 240 million consumers and five million local merchants, and Bilibilibili is known as China’s largest video sharing website. In addition, Chinese multinational tech group,…

Exchanges Could Fight Hackers By Renting Mining Power

Speaking at Unitize virtual event, Coin Metrics researcher Lucas Nuzzi suggested that one way for exchanges to fight back against the hackers is by renting mining power from online marketplaces. 6 confirmations ticking countdown Nuzzi conjectured that an exchange which has been hacked could rent enough hashpower through an online marketplace to force a favorable network reorganization: “So it is essentially a technique to try and reorg yourself by renting mining power and doing that work where if you’re an exchange and you’ve been hacked, within those six work confirmations…