Please share if you find this article interesting. Bitcoin Breaking $10,500 Will Set the Stage for a Massive Reversal: Here’s Why Bitcoin has been on an impressive rally over the past two months.From the $3,700 lows seen on March 13th, the asset has rallied over 150%. This 150% performance means BTC has outperformed basically any other multi-billion-dollar asset over the same time period.This strong surge to fresh highs hasn’t convinced everyone that Bitcoin is in a bull market though.Analyst “PlanB,” for instance, recently noted that Bitcoin is not yet in bull market territory as per the weekly relative strength index.Chart from “PlanB”The relative strength index (RSI) is described by Investopedia as “a momentum indicator used in technical analysis that measures the magnitude of
Please share if you find this article interesting. Coinbase Now Supports Tezos Staking Rewards for UK and Some EU Users Major cryptocurrency exchange Coinbase is rolling out Tezos (XTZ) staking rewards for users in the United Kingdom and three European countries. In an announcement on May 28, the exchange revealed that users in the U.K., France, Spain and the Netherlands are now eligible to earn interest on their XTZ holdings for depositing and holding the token on the exchange. According to Coinbase, since this feature was launched in the United States back in November, users have earned over $2 million in XTZ staking rewards. What is staking? In blockchains that use a Proof-of-Stake system, staking enables network participants to earn a form of “interest” on their holdings, as
Please share if you find this article interesting. Reddcoin (RDD) Nears PoSV v2 Activation, Clearing Way for Explosive Developments | Press release Bitcoin News Albuquerque, NM – May 29, 2020 – Feisty underdog and first generation cryptocurrency Reddcoin (RDD) launched the PoSV v2 consensus algorithm activation process on Christmas Eve 2019 enhancing all facets of support of the native lightning-quick blockchain to a self-funding independent model. That work has culminated in recent days and will be activating shortly, marking a transition for the never-say-die Reddcoin (RDD) development team and the project as a whole. Reddcoin is a uniquely community-driven and user-focused decentralized cryptocurrency established in 2014 and running seamlessly for six years. A member of
Please share if you find this article interesting. Ethereum Rallies Above $220 And Likely To Continue Higher To $240 Ethereum is up more than 8% and it broke the key $215 resistance zone against the US Dollar. ETH price is trading nicely above $220 and it could continue to rise above $230.Ethereum is showing a lot of positive signs and it rallied above $215 and $220.The price is likely to continue higher towards the $230 and $240 levels.There is a connecting bullish trend line forming with support near $212 on the hourly chart of ETH/USD (data feed via Kraken).The pair remains well supported on dips near $215 and $212 in the near term.Ethereum Price SurgingEthereum price remained in a strong uptrend above the $205 level and it gained pace above the $210 barrier. ETH price managed...
Please share if you find this article interesting. Bitcoin 896-Day ‘Accumulation’ Will Now Spark $100K Bull Run — Analyst Bitcoin (BTC) has spent almost 900 days correcting from its $20,000 all-time highs — but its trip to $100,000 is about to start. That is the opinion of popular social media trader and analyst Positive Crypto, who on May 29 declared that the largest cryptocurrency’s 896-day climbdown would soon be over. BTC price to break “consolidation structure” According to an accompanying chart, the time since December 2017 has been “one massive accumulation phase,” during which investors repositioned themselves and bought in. This “consolidation structure,” as Positive Crypto calls it, is now ripe for disintegration, to give way to a new bull run which will obliterate the
Please share if you find this article interesting. Canadian University Adds Two Blockchain Programs to Meet Job Demands Canada’s York University School of Continuing Studies today announced two new university-level continuing blockchain programs — the part-time Certificate in Blockchain Development and the full-time Post-Graduate Certificate in Back-End and Blockchain Development. The university said their new courses aim to meet the rising demand for blockchain developer roles in Canada, especially in the Greater Toronto Area, where it has risen by 374% in the last two years. Helping people upskill and reenter the workforce The two courses, which are scheduled to start this September, will help students upskill and build a portfolio in the blockchain field so they can secure rol
Please share if you find this article interesting. Messari: XRP Inflation Rate Five Times Higher Than Bitcoin’s Data from research firm Messari indicates that Ripple’s circulating supply (XRP) inflation rate is coming up to 20% for the latest financial year. Highest among the large-cap crypto assets, it is five times that of Bitcoin’s (BTC). Inflation vs. price Messari researcher Florent Moulin shared the information on Twitter stating that Bitcoin is up 20% since last year, but in contrast, XRP is down 47% —- alluding to some correlation between their price and circulating supply inflation rates. Moulin also compared how much of the max supply is in circulation, stating that Ripple has only 30% of their max supply released, while Bitcoin has already released 87.5%. Kyle Samani o
Please share if you find this article interesting. Bitcoin Shrugs Off Goldman Sachs’ Criticism With Price Spike Crypto traders aren’t taking advice from Goldman Sachs — with Bitcoin up by more than 8% since the investment bank slammed BTC in an investors call. Bitcoin has increased from the $8,800 mark to $9530, with the $10,000 barrier in sight According to crypto derivatives tracker Skew.com, the price rise has seen approximately $40 million in BitMEX shorts liquidated over the last 36 hours, with trading sitting above the BTC spot price indicating confidence in a longer rally. The 24 hour trading volume has stayed constant over the last week. The rise may be related to recent news from another financial institution: Grayscale. Analysis of the Grayscale Bitcoin Trust reported y
Please share if you find this article interesting. Grayscale Bitcoin Trust Buys Over 1.5 Times Total BTC Mined Since Halving | News Bitcoin News Grayscale Investments has purchased more than 1.5 times the number of bitcoins mined since the third Bitcoin halving for its bitcoin trust. This indicates that there is a strong institutional demand for the cryptocurrency, which is expected to grow significantly post the coronavirus crisis. GBTC Buys 1.5 Times the Amount of Bitcoin Mined After Halving Grayscale Bitcoin Trust (GBTC) has been racking up the number of BTC it has purchased since the third Bitcoin halving. Between May 12 and May 18, the week following the halving, Grayscale Bitcoin Trust acquired 12,021.15320371 bitcoins representing $112,336,936, according to Grayscale...
Please share if you find this article interesting. Bitcoin Breaks Key Hurdle: Here’s Why It Could Revisit $10,000 Bitcoin is up more than 4% and it broke the key $9,500 resistance zone against the US Dollar. BTC price is currently correcting lower, but dips remain supported near $9,350.Bitcoin gained traction above the $9,300 and $9,500 resistance levels.The price traded as high as $9,624 and it is currently correcting lower.There is a major ascending channel forming with support near $9,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair could correct further, but dips are likely to remain supported near $9,350 and $9,300.Bitcoin Price Turns GreenYesterday, we discussed the Bitcoin PriceThe channel support is close to the 50% Fib retracement level of the