Bitcoin Topside Bias Vulnerable Unless It Surges Past $9,300

Bitcoin extended its decline and spiked towards $9,100 against the US Dollar. BTC is currently recovering, but it must gain strength above $9,300 for a sustained upward move. Bitcoin spiked to the downside and traded to a new weekly low at $9,096. The price is currently trading above $9,200, but it is still facing a strong hurdle near $9,330. There is a key bearish trend line forming with resistance near $9,280 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must gain strength above the…

Testnet Results Suggest Matic Could Power Ethereum to 7,200 TPS

Blockchain scalability solution Matic claims the network can supercharge the Ethereum ecosystem, after a two-month testnet run revealed it was able to process 7,2000 transactions per second (TPS). In a July 14 blog post by Matic Network, the project reported it had stress tested its Counter Stake CS-2008 testnet, which could “reliably handle a performance level of 7,200 TPS.”  The blog stated that this performance could be extrapolated to the Matic mainnet, which employs the same architecture. According to Matic, “the network was truly decentralized,” with 122 active validators running…

‘AML Bitcoin’ Lobbyist Jack Abramoff Pleads Guilty to ICO Fraud

Notorious political lobbyist Jack Abramoff has pleaded guilty to charges of conspiring to defraud investors, conspiring to commit wire fraud, and violations of the Lobbying Disclosure Act relating to the 2018 initial coin offering (ICO) for AML BitCoin. Abramoff pleaded guilty by telephone on July 14, admitting to having defrauded millions from investors through the ICO. The plea marks the first prosecution of a lobbyist for a criminal violation of the Lobbying Disclosure Act. AML BitCoin’s founder Rowland Marcus Andrade is currently fighting criminal charges relating to the crypto offering,…

One Millionaire Really Is Giving Away Bitcoin — But Is That a Good Thing?

Millionaire philanthropist Bill Pulte has given away close to $150,000 this year in an attempt to promote the mass adoption of cryptocurrency. However, some critics are concerned that he may inadvertently be providing legitimacy to the masses of scammers who use fake giveaways to con new users out of crypto. Others believe it’s a ‘self serving’ attempt to build his public profile. Pulte has nearly 3,000,000 Twitter followers, up from the 10,000 he had in July 2019. In a July 9 post on Pulte’s Twitter account, the millionaire said he…

Former Chinese Official Says CBDC Will Pave Way for Digital Stocks

Xiao Gang, the former chair of the China Securities Regulatory Commission, says in his latest book on China capital market reforms that the development of a central bank digital currency (CBDC) will pave the way for digital stocks. Stocks and currencies are separate entities in traditional finance, however blockchain-based digital currencies blur the boundaries between the two and raise new possibilities. Xiao adds that “digital stock is the natural product of digital currency in the future.”  Before that can happen a number of challenges that need to be explored in…

70% of Crypto Twitter: Bitcoin Will Trade Above $20k by End of 2021

Since Bitcoin peaked at $20,000, investors have been asking when that high will be breached. For over two years, BTC hasn’t been even close to accomplishing that feat. A new poll by a prominent cryptocurrency analyst, however, suggests that many think Bitcoin will soon trade above its $20,000 high. Related Reading: Crypto Tidbits: TikTok’s Dogecoin Craze, Coinbase on Stock Markets, BTC Holds $9k Much of Crypto Twitter Thinks Bitcoin Will Soon Break $20,000 On July 13th, pseudonymous BTC analyst “PlanB” (@100trillionUSD on Twitter) asked his followers their thoughts about BTC’s 12-18…

Is Chainlink (LINK) a Bubble? On-Chain Data and DeFi Suggest Otherwise

On July 13 Chainlink (LINK) rallied more than 34% to reach a new all-time high at $8.48. Since then the price corrected back to the $7 range but at the time of writing the altcoin is making a renewed attempt at taking out the recent all-time high. LINK has rallied 167% in 2020 and remains one of the top performers in the crypto market but this isn’t the first time it has earned the description. In 2019, the altcoin rallied 1,481% and according to CoinMarketCap, the return-on-investment for those who…

These 4 Factors Suggest Cardano (ADA) Has Room to Rally Higher

Cardano (ADA) has been caught in the throes of an intense uptrend throughout the past several weeks. Its massive climb has primarily been rooted in the excitement surrounding the rollout of the highly anticipated Shelley mainnet upgrade, as well as some other positive news that its community has rallied behind. Although it’s uptrend has stalled as the market flashes some tempered signs of weakness, analysts are still optimistic regarding the cryptocurrency’s mid-term outlook. One respected trader is now pointing to four primary factors that seem to suggest further upside could…

Blockchain Could Help to Boost Global Jobs Creation

A report published by the World Economic Forum, or WEF, highlighted the critical role of fourth industrial revolution technologies. New technologies like blockchain could help stimulate growth by implementing “nature-positive” solutions following the COVID-19 outbreak. According to the “Future of Nature and Business” study shared with Cointelegraph, nature-friendly solutions could have the capacity to create 395 million jobs and generate $10.1 trillion in business opportunities by 2030. Inger Andersen, United Nations Under-Secretary-General and Executive Director of the UN Environment Program, commented on the matter: “As we enter into a historic…

A Hacker is Attempting to Sell a Las Vegas Hotel Database for Crypto

The MGM Resort suffered a massive data breach in 2019 that left 142 million hotel guests exposed. A hacker is now selling the stolen database for roughly $2,900. According to the information revealed by ZDNet, a dark web marketplace claims that data from 142,479,937 MGM hotel guests are on sale. Preferred payment is denominated in Bitcoin (BTC) and Monero (XMR). MGM Resorts confirmed the data breach, stating that they’re aware of the scope of this previously reported incident from 2019. No financial data was leaked However, according to the research,…