This Technical Pattern Suggests Bitcoin’s $9K Deadlock Could Be Over Soon

Bitcoin is trading above the $9,150 support against the US Dollar. BTC seems to be preparing for a major increase if it succeeds in clearing the $9,200 resistance zone. Bitcoin is still struggling to settle above the $9,200 and $9,220 resistance levels. The price is currently trading above the $9,150 support and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $9,155 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to gain bullish momentum…

‘USDT Will Continue to Exist Alongside CBDCs’

Paolo Ardoino, Chief Technology Officer (CTO) of Bitfinex and Tether, says recent pushes for governments to adopt regulatory paths towards central bank digital currencies won’t adversely affect stablecoins like Tether. “In the long term, we believe that Tether will continue to exist alongside CBDCs,” the Tether CTO said to Cointelegraph, citing the token’s performance on several different blockchains including Algorand, Ethereum, EOS, Liquid Network, Omni and Tron. “Tether will remain in demand as it continues serving and unifying a variety of ecosystems.” Governments pushing for CBDCs Cointelegraph reported on July…

Grayscale Receives FINRA Approval for BCH and LTC to Trade Publicly

Crypto fund manager Grayscale Investments will make Bitcoin Cash and Litecoin available for public trading through shares of the firm’s cryptocurrency trusts. In the July 20 announcement, Grayscale said the Financial Industry Regulatory Authority (FINRA) in the United States had approved shares of the firm’s Bitcoin Cash Trust and Litecoin Trust for public trading. The two stocks will be available on OTC markets under the symbols BCHG and LTCN. Public trading for the two digital assets remains subject to full compatibility with the Depository Trust Company (DTC), the world’s largest…

The S&P 500 Is Surging Towards a New ATH: Will Bitcoin Follow?

Bitcoin is once again effectively flat. According to data from Coin Market Cap, the leading cryptocurrency has literally gained only 0.15% in the past 24 hours as of this article’s writing. BTC’s performance — or lack thereof — is even more striking when you consider that the asset has traded within the same 5% range for the past two weeks now. Yet with the stock market showing extreme strength, Bitcoin could rally. After all, a tight correlation has formed between the two markets that should lend to appreciation in the…

DeFi Token Rally Pushes Aave (LEND), (SNX) Market Cap Above Maker (MKR)

Decentralized Finance (DeFi) tokens continue to make drastic moves on the price charts, compensating for Bitcoin’s low volatility which has recently hit a three year high. Earlier today, Aave (LEND) and Synthetix Network (SNX) token briefly surpassed MakerDAO’s (MKR) token as each rallied to $0.375 and $4.09 respectively.  The ‘flippening’ was short-lived and MKR has now reclaimed its position above LEND, SNX and Compound (COMP) and currently sits at number 28 on Coinmarketcap with a market capitalization of $453 million.  The switch up likely occurred as LEND price corrected sharply…

This Model Shows Bitcoin’s Next Big Breakout is Likely to Favor Bulls

Bitcoin’s prolonged bout of sideways trading is bound to end eventually, and all the signs are suggesting that the next large trend-defining movement could take place in the coming days or weeks. This recent price action has been driven primarily by a sharp decline seen in BTC’s liquidity and trading volume – both signs of investors’ heightened interest in the altcoin market. Because of this, the cryptocurrency’s trading range has now narrowed to between $9,100 and $9,200. The last time BTC saw volatility levels this low was right before it…

Technicals Anticipate a Correction Ahead of Aave (LEND) After 1,500% Rally

The Ethereum-based peer-to-peer lending platform Aave has been in the spotlight of the cryptocurrency market after the 1,500% price increase it has enjoyed throughout the year. In July alone, LEND skyrocketed nearly 185% to reach a new yearly high of $0.38. This price level is just a few cents below its all-time high of $0.394 that was reached by the end of the 2017 ICO mania.    Aave Skyrockets 185% Throughout July 2020. (Source: TradingView) Given the substantial gains that Aave has posted, different metrics anticipate that it is reaching an…

As US Banks Running Out of Coins Bitcoin Keeps On Chugging Along

The U.S. economy is experiencing a shortage of coins. With this in mind, the Community State Bank, or CSB, of Milwaukee is offering a five percent premium to customers who turn in coins to one of its locations. Meanwhile Bitcoin (BTC) is not expected to run out of Satoshis anytime soon. CSB announcing “Crazy time”. Source:  CSB Site. COVID-19 is to blame This issue apparently stems from further complications caused by the COVID-19 pandemic. Reasons given include that the U.S. Mint reduced coinage to protect its employees, and that U.S.…

$10.9 Billion Bitcoin Stash Proves Satoshi Is Still the Biggest Whale

A recent report by blockchain tracking and analytics provider, Whale Alert, revealed that the miner known as Patoshi mined over $10.9 billion or 1,125,150 BTC during Bitcoin’s infancy in order to protect the network from a 51% attack.  Patoshi has been confirmed to be the anonymous Bitcoin creator known as Satoshi and the early blocks mined by Patoshi also include the first BTC transaction to Hall Finney, a well known developer and early Bitcoin contributor. Whale Alert was able to come to this conclusion by reviewing previous research conducted by…

Global Banks Reportedly Limit Service in Hong Kong for Political Reasons

Major international banks like Credit Suisse and HSBC are reportedly scrutinizing their Hong Kong clients amid the ongoing protests over China-backed national security law. According to a July 19 report by Reuters, global banks including Credit Suisse, HSBC, Julius Baer, and UBS are now screening their clients in Hong Kong on potential ties to the city’s pro-democracy movement. Social media spies Citing a group of anonymous people familiar with the matter, the report says that the banks are scanning clients’ records for political and government ties in order to impose…