Bitcoin Enters “Prime Short Squeeze” Territory as Analysts Target $14,000

Bitcoin and the entire crypto market are currently seeing some quiet price action. This newly established consolidation phase comes close on the heels of the recent surge that send BTC to highs of $11,400. It appears that BTC is struggling to hold above $11,000, as it has been trading beneath this crucial support level for most of the morning. Despite this not being a positive sign, it is important to keep in mind that the crucial support to watch is $10,500, and it has not yet shown any signs of…

Australian Watchdog Issues Warning on Fake Celebrity-Endorsed Crypto Ads

The Australian Securities and Investments Commission, or ASIC, is asking people to remain cautious about celebrity-endorsed Bitcoin (BTC) scam sites. According to the commission’s public warning, the Australian watchdog has received a number of reports of fraudulent crypto sites that claim to be endorsed by prominent businesses, new sites, and government agencies. Some even appear to have the endorsement of national celebrities like Waleed Aly, Mike Baird, Dick Smith, and Virginia Trioli. Crypto bot scams are active in Australia The ASIC outlined a number of examples as part of their…

Zcash Company Confirms ‘Crypto in Context’ Program as Global Effort

The Electric Coin Company, or ECC, the company overseeing privacy coin Zcash (ZEC), recently unveiled a crypto and financial educational movement called the Crypto in Context program.  “It is a global effort,” the ECC’s growth vice president, Josh Swihart, confirmed to Cointelegraph in a July 29 email. “We’ve already supported pilots for Syrian refugees in Turkey, for Arabic speakers across Europe and the Middle East, and for students in Nigeria,” he added. The movement already has sizeable players on board  In a July 29 blog post, the ECC announced the…

Despite Its Success, Ethereum Doesn’t Get Media Attention It Deserves

Ethereum’s perception in the media has been on a roller-coaster ride since its inception in 2015, but the blockchain and its native Ether (ETH) cryptocurrency are clearly still seen as being in second place behind Bitcoin (BTC). While Bitcoin rose to fame due to the notorious Silk Road darknet marketplace and its price climax of $20,000 back in 2017, Ethereum has had fewer notable interactions with the mainstream media, even though some might reference how it enabled the initial-coin-offering craze and made trading virtual cats a worthwhile pastime. Vitalik Buterin…

China Didn’t Ban Bitcoin Entirely, Says Beijing Arbitration Commission

China, one of the world’s most strict jurisdictions for cryptocurrency trading, has not completely banned Bitcoin (BTC), a local non-profit arbitration organization says. According to a July 30 report published by the Beijing Arbitration Commission (BAC), China’s prohibition of Bitcoin is more nuanced than some have suggested. Bitcoin does not constitute money in China In the report, the BAC clarified China’s legal stance on cryptocurrencies like Bitcoin and outlined major crypto-related activities that are prohibited by the government.  According to the BAC, China prohibits token funding and trading platforms from…

Five Years Later, the Ethereum DApp Ecosystem Looks Exactly as Predicted

Ethereum’s fifth anniversary from the mainnet launch is upon us, marking an important milestone in the long history of the first smart contract platform to reach significant adoption. Following the initial coin offering mania, today’s main narrative behind Ethereum is decentralized finance, an ecosystem that seeks to recreate the financial system from scratch on the blockchain. Ever since Ethereum’s founding, the application layer has been at the center of its value proposition. In a 2014 interview, Ethereum’s co-founder Vitalik Buterin illustrated that Ethereum is not just about the Ether currency,…

IOTA Signals Bull Run After Forming Its First Weekly Golden Cross

IOTA, a transaction settlement token for the Internet of Things (IoT), has surged by more than 400 percent from its March 2020 nadir. Its price rally this week led to the formation of its first Golden Cross on a weekly chart. Technically, the moving average crossover indicates a bullish continuation in the coming sessions. IOTA has just printed its first weekly golden cross. The 22nd-largest cryptocurrency saw its 20-weekly exponential moving average closing above its 50-weekly simple moving average this week for the first time since its listing. It is…

Blockchain Is Key to Future ‘Hyperconnected Economy,’ Say Researchers

According to a report by market research firm HFS Research, blockchain technology will play a decisive role in establishing the future “hyperconnected economy.” A report excerpt recently released by HFS for Big Four auditing EY suggests that “we are hurtling toward a hyperconnected economy, and blockchain will provide the way to make it happen.” Blockchain facilitates large-scale collaboration The report explains that entire ecosystems are being developed across the services offered by different organizations. The researchers claim that “no single organization owns the entire customer experience, and competitors and peers…

When Robinhood FOMO? Bitcoin Price Pulling a ‘Kodak’ Means Six Figures

Retail traders on Robinhood have been increasingly seeing “fear of missing out” or FOMO rallies around certain stocks. The latest beneficiary has been the stock price of the renowned camera manufacturer Kodak (KODK) whose stock surged from $2 to $60 in one day.  Therefore, given the current climate of economic uncertainty and “infinite QE,” if the optimism around risk-assets flows over to Bitcoin, chances of a similar rally for BTC price — as some analysts are currently predicting — certainly increase. Moreover, following the Federal Reserve’s FOMC meeting on July…

Bloomberg’s $20K Bitcoin Prediction May Come True Due to “TINA” Effect

Earlier in June, Bloomberg analysts made a bold Bitcoin price prediction, stating that the cryptocurrency could revisit its all-time high near $20,000. The forecast is now receiving further support from a worsening macroeconomic climate. Observers believe that safe-haven assets, as well as equities, could rally further into 2020 because of the TINA effect. It has been close to two months since the day Bloomberg made its boldest Bitcoin prediction. The financial services firm stated that it expects the cryptocurrency to retest its all-time high levels near $20,000. The analogy took…