Bitcoin Could Soon Fall to the $7,000s as Price Loses Pivotal Support

Despite volatility in global stock markets, Bitcoin has remained relatively stagnant over recent days. Case in point: FTX’s BVOL token, which tracks volatility, is reaching all-time lows. Further corroborating this, the Bitcoin Bollinger Bands are at lows not seen since November 2018, just days before the 50% crash to the $3,000s. Yet technicals show that the asset may be primed to see a correction to the $7,000s. Related Reading: PSA: There’s A Crypto Scam on Youtube Misappropriating Cardano Content Bearish Ichimoku Cloud Analyses Predict Bitcoin Will Soon Plunge Bitcoin may be…

BTC Options Traders Are Not Betting on a Short-Term Bitcoin Price Drop

Bitcoin’s (BTC) consistent failure to break the $9,400 level over the past three weeks has led to some analysts becoming skeptical about the chance of a positive breakout.  Although the $9,000 support has been holding strong for the past 50 days, any slightly negative indicator tends to get more attention from media and pundits.  Recently, crypto media has focused on Bitcoin’s 25 % skew as proof that options traders are turning bearish in the short-term, but in reality there’s more to it than just interpreting signals from one data point. …

How Lengthening Bitcoin Cycles Conflict With Halving Driven Supply Theories

Bitcoin is at a critical junction. A breakout into a new bull market here backs up the stock-to-flow theory and other halving and supply-driven expectations. Others believe in lengthening cycles between each major peak as adoption takes place and volatility decreases. However, the lengthening cycle theory coming true would essentially put an end to just about all halving-based theories instantly. Here’s why. Cryptocurrency Adoption Curve Could Lead To Longer Market Cycles The leading cryptocurrency by market cap has been consolidating below resistance for months now. The sideways trading range has…

Stellar (XLM) Leaves XRP in the Dust with Latest Rally; Will It Last?

Stellar (XLM) has been caught within the throes of an intense uptrend throughout the past few days, and the cryptocurrency’s momentum isn’t showing any signs of slowing down. This has allowed it to significantly outperform XRP – which is widely considered to be one of its main competitors. Analysts are now noting that this ongoing XLM uptrend is being driven in part by mounting hype from investors, as one indicator suggests that its social volume has seen a tremendous rise in recent weeks. As for whether or not it will…

Cryptocurrency Exchange OKEx Lists Polkadot’s DOT Token

OKEx has listed the native token of Polkadot (DOT) on its trading platform. According to an announcement shared with Cointelegraph on July 17, DOT spot trading against Tether’s USDT stablecoin on OKEx started at 8:00 AM UTC today. As Cointelegraph recently reported, Pokadot’s technology allows developers to spin up a new blockchain within one hour. Per the announcement, DOT deposits and withdrawals aren’t supported yet, and the tokens can currently only be obtained by claiming them on the mainnet from Ethereum’s blockchain. OKEx also recently published a detailed guide on…

Grayscale Hasn’t Bought A Single Bitcoin in Over 3 Weeks

Given the rate at which Grayscale usually buys Bitcoin, it seems like the cryptocurrency fund management company was trying to buy every single Bitcoin in existence. But this pattern ground to a halt more than three weeks ago and hasn’t picked up again since. Grayscale Bitcoin Trust Fund (GBTC) would typically file a Form 8-K with the Securities and Exchange Commission (SEC) on a weekly basis, declaring its latest Bitcoin acquisitions. But the last time such a report was filed was June 25, when the company disclosed the purchase of…

Grayscale Says Bitcoin ETF Only a Matter of Time

The crypto market may finally see a Bitcoin ETF approval, although regulators need more time.  “We think a Bitcoin ETF is a matter of when, not a matter of if,” Grayscale Investments managing director, Michael Sonnenshein, told Morgan Creek Digital co-founder Anthony Pompliano in a July 15 interview. “The regulators have done a fantastic job of staying ahead of the curve on the digital currency asset class as a whole,” he added.  The crypto space moves fast Explaining the speed at which the global digital crypto world moves, Sonnenshein described…

This Technical Pattern Could Send Ethereum to New Yearly Highs

Ethereum has been closely tracking Bitcoin’s price action throughout the past several days and weeks. This has made it exposed to some near-term downside, as BTC is currently sitting just a hair above the lower boundary of its long-held trading range between $9,000 and $10,000. It appears that ETH has been forming a bullish technical formation throughout the past several weeks, which could bolster its mid-term outlook. The same pattern was formed in early-May when it was trading within the lower-$200 region. If this pattern results in a similar rally,…

Russian Cybercrime Surged 25x in 5 Years, Says Local AG

Igor Krasnov, Russia’s new Attorney General, says that cybercrime in Russia has surged 25 times over the past five years. Krasnov made the statement during a recent meeting devoted to fighting cybercrime in Russia, according to an official statement on July 17. Only 25% of cybercrime in Russia gets solved At the event, Krasnov outlined that there have already been 225,000 cases in the first half of 2020, a 92% increase in the same timeframe from 2019. The total number of Russian cases for all of last year was just…

Pushing the Legal Limits, July 10–17

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note New developments in crypto this week are challenging a number of critical boundaries of legal authority. We are, consequently, looking at several cases that promise to set new lines for government reach and overreach. Cassius lamented Caesar bestriding the narrow world like a colossus. While nothing on the docket today is going to be as dramatic as the death of the Roman Republic, we did actually see a pretty…