Friday, August 14Your Daily Bitcoin & Altcoin News Portal

Author: Wealthy Miner

What Does The Dollar’s Do Or Die Moment Say About Bitcoin?

What Does The Dollar’s Do Or Die Moment Say About Bitcoin?

PRICE ANALYSIS
Please share if you find this article interesting. What Does The Dollar’s Do Or Die Moment Say About Bitcoin? The dollar has been on a steady decline since the pandemic first struck. Weakness in the global reserve currency has allowed gold, Bitcoin, and other assets to shine. However, either a major rebound is beginning, or the dollar is about to experience another massive drop. The asset is clearly at a ‘do or die’ moment, but how will further downside in the dollar impact the leading cryptocurrency? The Dollar’s Ongoing Demise and Fall From Global Reserve Grace The dollar is the most dominant force in the finance world, but when you’re on top, everyone wants to see you fall. Recently, the dollar has been declining, allowing competing assets and currencies like Bitcoin, gold, an
China Expands Digital Yuan Trials to Beijing and Neighboring Provinces

China Expands Digital Yuan Trials to Beijing and Neighboring Provinces

BITCOIN
Please share if you find this article interesting. China Expands Digital Yuan Trials to Beijing and Neighboring Provinces China’s Commerce Ministry announced today that it will expand the trials of the nation’s central bank digital currency (CBDC) to include Beijing, as well as Tianjin and Hebei provinces. According to an Aug. 14 report by the Wall Street Journal, there is not yet a set time when the expanded pilot program of the Chinese CBDC will begin. Still, the nation’s Ministry of Commerce announced that the policy framework should be complete by the end of 2020. As Cointelegraph reported earlier this week, the expanded pilot will also include the Hong Kong Greater Bay area — consisting of nine cities including Guangzhou, Shenzhen, as well as Hong Kong, and Macau. A Chinese
Friday Pullback? Biggest Bitcoin Mining Pool Sends 800 BTC to Binance

Friday Pullback? Biggest Bitcoin Mining Pool Sends 800 BTC to Binance

BITCOIN
Please share if you find this article interesting. Friday Pullback? Biggest Bitcoin Mining Pool Sends 800 BTC to Binance Bitcoin (BTC) may have recovered to $11,700 but miners could soon spark a price plunge, data warns. In an update on Aug. 14, on-chain monitoring resource CryptoQuant identified a spike in mining pool outflows.  BTC price: CryptoQuant expects “little pullback” Aftering remaining stable this month, mining pool outflows have begun to grow, with 802 BTC in aggregated flows recorded by CryptoQuant on Friday. Describing the event as “unusual” in an automated alert, CryptoQuant noted that if the Bitcoin leaving pools was being sent to an exchange, selling pressure could quickly mount, pushing down price. Alternatively, an over-the-counter transaction popular in China,
Boston’s Federal Reserve Bank and MIT to Tackle Digital Currency Research

Boston’s Federal Reserve Bank and MIT to Tackle Digital Currency Research

BITCOIN
Please share if you find this article interesting. Boston’s Federal Reserve Bank and MIT to Tackle Digital Currency Research The Federal Reserve Bank of Boston has entered into a partnership with the Massachusetts Institute of Technology to better understand the concept of digital currencies. The bank will work with MIT researchers on a multiyear project to develop and test the use cases of a “hypothetical” central bank digital currency (CBDC), said Fed Governor Lael Brainard during her speech at the Federal Reserve Bank of San Francisco. She said that digital currencies bring both opportunities and threats related to privacy, illicit activity and financial stability, and the Reserve must clearly understand both aspects of it as they proceed towards the creation of a CBDC. The re
Ripple CEO Fires Back at NYT Reporter, ‘Ripple Has No Plans to Reset Our Strategy’

Ripple CEO Fires Back at NYT Reporter, ‘Ripple Has No Plans to Reset Our Strategy’

BITCOIN
Please share if you find this article interesting. Ripple CEO Fires Back at NYT Reporter, 'Ripple Has No Plans to Reset Our Strategy' Ripple (XRP) CEO Brad Garlinghouse has responded to criticism from New York Times technology reporter Nathaniel Popper after news surfaced that Santander Bank is still hesitant to use the company’s native token XRP. Popper took aim at Garlinghouse, citing statements by the CEO in January 2018 around banks “planning to use [the] XRP token in the near future.” He went on to say that “people used their savings to invest in XRP based on the forward looking projections that Brad Garlinghouse gave,” adding: “If investors put their money into XRP on the day @BradGarlinghouse talked about the banks planning to use XRP — and held it to today — they would h
Coinbase to Offer Bitcoin-Based Cash Loans of up to $20,000 Across 17 US States | Finance Bitcoin News

Coinbase to Offer Bitcoin-Based Cash Loans of up to $20,000 Across 17 US States | Finance Bitcoin News

BITCOIN
Please share if you find this article interesting. Coinbase to Offer Bitcoin-Based Cash Loans of up to $20,000 Across 17 US States | Finance Bitcoin News U.S. crypto exchange Coinbase will start offering bitcoin-backed cash loans to select customers as early as next month. Investors can borrow up to 30% of the bitcoin they hold on the exchange, or a maximum $20,000, it said. In a blog post on August 13, Coinbase unveiled its new crypto lending business, which places it into competition with the likes of Nexo and Blockfi. The service charges an annualized interest rate of 8% for borrows that are one year or less. Coinbase said interested customers can get cash in their accounts in two to three days with just a few taps. It intends that the lending process becomes as less cumbers...
Blockchain Investments Fell 63% Due to Pandemic

Blockchain Investments Fell 63% Due to Pandemic

BITCOIN
Please share if you find this article interesting. Blockchain Investments Fell 63% Due to Pandemic Professional services firm KPMG has published a report predicting that blockchain will be one of five emerging technology sectors to see increased investment from enterprises over the next 12 months. Titled Enterprise Reboot, the report was compiled by KPMG International and HFS Research. It draws on a survey of 900 executives from organisations on the Forbes’ Global 2000 list of the largest public companies with more than $1 billion in annual revenue. While it found investment in blockchain fell by 63% due to the pandemic, the report predicts that the sector, along with artificial intelligence (AI), cloud, 5G, and process automation technologies, will see increased investment as ma
Four of the Top Five South Korean Banks to Offer Crypto Services

Four of the Top Five South Korean Banks to Offer Crypto Services

BITCOIN
Please share if you find this article interesting. Four of the Top Five South Korean Banks to Offer Crypto Services South Korea’s Woori and Shinhan banks have just announced their intention to introduce “crypto-asset services”. That means that four of the country’s top five banks, holding a combined value of more than $1.2 trillion in assets, are now poised to introduce crypto services. Each of the banks aims to hold and manage cryptocurrencies for clients. Both Shinhan and Woori announced their plans in direct response to the amended Special Financial Transactions Information Act which will change legislation around crypto assets, coming into force next year. Shinhan bank previously announced plans for crypto storage in 2017, but these plans were thwarted by the government in Ja
Is Chainlink Poised for a Sell Off After Reaching New ATH?

Is Chainlink Poised for a Sell Off After Reaching New ATH?

BITCOIN
Please share if you find this article interesting. Is Chainlink Poised for a Sell Off After Reaching New ATH? Chainlink rallied another 4% today, maintaining its place as the fifth largest crypto asset by market cap — but are investors starting to become skittish?  According to on-chain analytics resource Santiment, Chainlink (LINK) investors may be “becoming increasingly uncertain in its prolonged rally.” Santiment reported that though there weren’t “many bearish indicators or signs of an impending top” for LINK as of last week, that may no longer be the case. The number of LINK deposits into crypto exchanges reached an all-time high (ATH) of 8.2 million, the same day the token reached an ATH price of roughly $15. LINK holders may be moving their tokens to exchanges to take prof
$12K Bitcoin Price in Sight as Retail, Institutional Traders Turn ‘Greedy’

$12K Bitcoin Price in Sight as Retail, Institutional Traders Turn ‘Greedy’

BITCOIN
Please share if you find this article interesting. $12K Bitcoin Price in Sight as Retail, Institutional Traders Turn ‘Greedy’ After recovering 6.3% from a drop to $11,200 on Aug. 11, Bitcoin (BTC) price appears to be gearing up for a third run on the $12K mark.  This comes after a week of bullish news which included Nasdaq-listed investment firm MicroStrategy purchasing 21,454 BTC as protection against the weakening U.S. dollar, Coinbase exchange offering Bitcoin-backed loans, and the revelation that BlackRock and Vanguard are major holders of MicroStrategy shares. Cryptocurrency daily market performance snapshot. Source: Coin360 The increasingly bullish sentiment extends across the entire crypto sector and proof of this comes from altcoins like Tezos (XTZ) and Chainlink (LINK)