Tuesday, September 29Your Daily Bitcoin & Altcoin News Portal
Bitcoin Expects to Hit Yearly Highs on UBS’s Bullish Gold Call; Here’s Why

Bitcoin Expects to Hit Yearly Highs on UBS’s Bullish Gold Call; Here’s Why

PRICE ANALYSIS
Please share if you find this article interesting. Bitcoin Expects to Hit Yearly Highs on UBS’s Bullish Gold Call; Here’s Why Bitcoin is looking to resume its uptrend towards $12,500 based on its proximity with traditional rival gold. The analogy pops out of an erratic positive correlation between the two assets that have caused them to trade in tandem since March 2020. Both gold and Bitcoin receive their cues from the same set of fundamentals: the global central bank policies in response to the coronavirus pandemic. The correlation between Bitcoin and Gold since March 2020. Source: TradingView.comThe correlation between Bitcoin and Gold since March 2020. Source: TradingView.com That includes ultralow interest rates, an expanding fiscal deficit, an infinite bond-buying program
Traders discuss what’s next for Bitcoin after abrupt 3% overnight drop

Traders discuss what’s next for Bitcoin after abrupt 3% overnight drop

BITCOIN
Please share if you find this article interesting. Traders discuss what’s next for Bitcoin after abrupt 3% overnight drop The price of Bitcoin (BTC) abruptly dropped on Sep. 29 from $10,950 to $10,630 overnight, recording a 3% drop. Following the rejection at $11,000, the sentiment of traders remains mixed. Some are cautiously optimistic under the premise that BTC reclaims the $10,700 level. Technically, analysts say that the $10.7k area is a critical pivotal price point for Bitcoin in the near term. Others say that the price trend of BTC has reversed in the short term after its rejection. The intense reaction of Bitcoin to a crucial resistance level at $11,000 presents a threat of a larger pullback. Cautiously optimistic: what Bitcoin needs to do to recover According to a pseudo
Bitcoin ‘difficulty ribbon’ chart hasn’t been this bullish since March

Bitcoin ‘difficulty ribbon’ chart hasn’t been this bullish since March

BITCOIN
Please share if you find this article interesting. Bitcoin ‘difficulty ribbon’ chart hasn’t been this bullish since March Bitcoin (BTC) simply needs history to repeat itself to see significant price rises, according to two indicators now flipping bullish. On Sep. 28, on-chain monitoring resource Glassnode noted that Bitcoin’s difficulty ribbon compression had broken out of its green “buy” zone for the first time since the March coronavirus crash. Glassnode hints at “significant” BTC price increases Difficulty ribbon compression is based on difficulty ribbons, a metric devised by statistician Willy Woo as a way to gauge optimal times to buy Bitcoin. Ribbons use simple moving average values for mining difficulty, contracting as miners sell BTC to balance costs and then capitulate,
Ripple (XRP) At Risk of Sharp Decline, As Double Top Pattern Emerges

Ripple (XRP) At Risk of Sharp Decline, As Double Top Pattern Emerges

PRICE ANALYSIS
Please share if you find this article interesting. Ripple (XRP) At Risk of Sharp Decline, As Double Top Pattern Emerges Ripple spiked higher and retested the key $0.2550 resistance area against the US Dollar. XRP price failed to break $0.2550 and it is now showing bearish signs below $0.2450. Ripple failed to clear the $0.2550 resistance level and likely formed a double top against the US dollar. The price is now trading well below the $0.2450 support and the 100 simple moving average (4-hours). There is a key connecting bearish trend line forming with resistance near $0.2465 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair is likely to decline sharply if there is a close below $0.2400 and $0.2380. Ripple Price is Likely Forming a Double Top Pattern Th...
Binance CEO Says He Fully Expects DeFi to Cannibalize His Crypto Exchange

Binance CEO Says He Fully Expects DeFi to Cannibalize His Crypto Exchange

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Binance CEO Says He Fully Expects DeFi to Cannibalize His Crypto Exchange Binance CEO Changpeng “CZ” Zhao acknowledges the contradictions inherent in trying to tap into the fast-growing business of decentralized finance, or DeFi, while trying to defend his company’s reign as the world’s largest cryptocurrency exchange. The company’s new foray into DeFi, Binance Smart Chain, attempts to replicate some of the features of the Ethereum blockchain that have proven fertile for developers building decentralized, blockchain-based trading and lending applications that theoretically could one day challenge traditional lenders and Wall Street trading firms. But DeFi could also threaten big cryptocurrency exchanges like his own.   Like
Venezuela sees its first Blockstream Bitcoin satellite node

Venezuela sees its first Blockstream Bitcoin satellite node

BITCOIN
Please share if you find this article interesting. Venezuela sees its first Blockstream Bitcoin satellite node A Bitcoin services startup based in South America has just launched the first Bitcoin node connected to the Blockstream satellite network within Venezuela. According to a Sept. 25 blog post from startup Cryptobuyer, the launch of the node will keep the Bitcoin (BTC) blockchain updated for Venezuela users without being dependent on a local internet connection. Crypto training course provider AnibalCripto deployed the node while CryptoBuyer provided financial and logistical support.  “Having a 24/7 always-available digital money system independent of local internet infrastructure is now a reality,” said AnibalCripto CEO Anibal Garrido. “With this development, we are no lon
Blockchain-based fantasy soccer game Sorare signs on Paris Saint-Germain

Blockchain-based fantasy soccer game Sorare signs on Paris Saint-Germain

BITCOIN
Please share if you find this article interesting. Blockchain-based fantasy soccer game Sorare signs on Paris Saint-Germain French soccer club Paris Saint-Germain hasn’t dropped the blockchain baton just yet, with the club now set to issue player collectibles as rare tokens. PSG — which plays in the highest tier of French soccer —  had already partnered with blockchain platform Socios.com to launch its own “Fan Token Offering” in 2018.  This week, the club has become the 100th soccer club to join the Ethereum blockchain-based fantasy soccer game Sorare platform. PSG players Neymar and Kylian Mbappé, as well as club veterans like David Beckham, will be tokenized as limited edition digital player cards. The score of player cards will depend on their real-life performances in soccer
Bitcoin Miner Maker Ebang Narrows First Half Loss To $7 Million, as Covid-19 Hit Demand | Mining Bitcoin News

Bitcoin Miner Maker Ebang Narrows First Half Loss To $7 Million, as Covid-19 Hit Demand | Mining Bitcoin News

BITCOIN
Please share if you find this article interesting. Bitcoin Miner Maker Ebang Narrows First Half Loss To $7 Million, as Covid-19 Hit Demand | Mining Bitcoin News Ebang International Holdings Inc., the Chinese maker of bitcoin mining hardware, reported a net loss of $6.96 million during the first six months of this year, down from $19.07 million a year ago, as demand fell due to the coronavirus pandemic. Revenue plunged 51% to $11.04 million from $22.35 million previously, said the company in an earnings release shared with news.Bitcoin.com. For the half-year, the Nasdaq-listed Ebang sold a total 0.25 million terahash per second (TH/s) of Bitcoin hashpower. The figure represents a year-over-year decline of 86% from 1.82 million TH/s sold in the same period in 2019. Shares of Eban...
Ethereum Close Below $350 Could Spark Larger Degree Correction To $330

Ethereum Close Below $350 Could Spark Larger Degree Correction To $330

PRICE ANALYSIS
Please share if you find this article interesting. Ethereum Close Below $350 Could Spark Larger Degree Correction To $330 Ethereum tested the $370 resistance before correcting lower against the US Dollar. ETH price could start a larger decrease if it fails to stay above $350 and $348. Ethereum started a fresh decline after trading to a new weekly high near $370. The price is now trading below the $355 support and the 100 hourly simple moving average. There was a break below a major ascending channel with support near $355 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue lower if it breaks the $350 and $348 support levels. Ethereum Price is Showing Bearish Signs Ethereum extended its rise above the $365 resistance, but it failed to clear the $3...
Ethereum Close Below $350 Could Spark Larger Degree Correction To $330

Ethereum Close Below $350 Could Spark Larger Degree Correction To $330

PRICE ANALYSIS
Please share if you find this article interesting. Ethereum Close Below $350 Could Spark Larger Degree Correction To $330 Ethereum tested the $370 resistance before correcting lower against the US Dollar. ETH price could start a larger decrease if it fails to stay above $350 and $348. Ethereum started a fresh decline after trading to a new weekly high near $370. The price is now trading below the $355 support and the 100 hourly simple moving average. There was a break below a major ascending channel with support near $355 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue lower if it breaks the $350 and $348 support levels. Ethereum Price is Showing Bearish Signs Ethereum extended its rise above the $365 resistance, but it failed to clear the $3...