Monday, July 23Your Daily Bitcoin & Altcoin News Portal

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Decentralized Exchanges Aren’t Living Up to Their Name – And Data Proves It

Decentralized Exchanges Aren’t Living Up to Their Name – And Data Proves It

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Decentralized Exchanges Aren't Living Up to Their Name – And Data Proves It Some say a "decentralized exchange" is an oxymoron. Perhaps not, but for now it's not much more than an aspiration. Over the past year, dozens of cryptocurrency trading platforms have marketed themselves as decentralized exchanges. While models vary, the term implies they allow users to trade on a peer-to-peer basis, and more importantly, without using a platform operated by a single entity. The main selling point is that unlike today's better-known crypto trading platforms (think Coinbase, Kraken or Binance), a decentralized exchange shouldn't require traders to store their money with a third party that can be hacked. Yet while "DEX" has been a hot buzzw
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Bitcoin Price Hits Two-Month High as Dominance Rate Spikes

Bitcoin Price Hits Two-Month High as Dominance Rate Spikes

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Please share if you find this article interesting. Bitcoin Price Hits Two-Month High as Dominance Rate Spikes Bitcoin's (BTC) price clocked a two-month high of $7,820 today and looks set to extend gains further, a key cryptomarket gauge indicates. CoinMarketCap's bitcoin dominance rate, an indicator that tracks the percent of the total cryptocurrency market capitalization contributed by the leading cryptocurrency, rose to 46 percent today — the highest level since December 20, adding credence to BTC's 20 percent rally seen in the last seven days. To start with, a rise in the BTC dominance rate essentially means the premiere cryptocurrency is more in demand compared to the alternative cryptocurrencies. The above chart shows: The BTC dominance rate has increased from 40.5 percent
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Bitcoin’s Price Sets Sights on $8K After Sunday Sell-off

Bitcoin’s Price Sets Sights on $8K After Sunday Sell-off

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin's Price Sets Sights on $8K After Sunday Sell-off Bitcoin's price continues to hold ground amid a market sell-off, with growing momentum building to take out its next target of $8,000. The world's largest cryptocurrency by market capitalization fell 3 percent over the weekend, hitting $7,333, according to Bitfinex data, after a quick sell-off from investors dragged down market prices. As it turns out, bitcoin is slowly regaining and consolidating its losses to stand at $7,637.38 as of press time. The crypto shows strong signs of a steady recovery to retest the upper resistances found at $7,575 and $7,694 (the market's previous close and the previous high). The previous exponential moving average (EMA) bull cross, last se...
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Mastercard Had An Outage, So Crypto Had a Field Day

Mastercard Had An Outage, So Crypto Had a Field Day

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Please share if you find this article interesting. Mastercard Had An Outage, So Crypto Had a Field Day Payments giant Mastercard suffered a severe outage last week that led to a hold-up in transactions. As reported on July 12 by the Financial Times, it had a global impact, sparking a round of complaints from the payment firm's customer base. As might be expected, those affected quickly took to social media to voice their frustration with the credit card giant, which eventually was able to resolve the situation and resume service for its customers. In most cases, that would have been the end of the story. This time, however, Crypto Twitter took notice, and that made all the difference for what was likely a hectic day for the credit card giant's press team. In fact, the company's
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Crypto Trading 101: Stochastic Oscillators and Price Momentum

Crypto Trading 101: Stochastic Oscillators and Price Momentum

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Crypto Trading 101: Stochastic Oscillators and Price Momentum You may have heard of a lagging or leading indicator before. Maybe your friends have tossed around terms like bullish or bearish divergences, oversold or overbought conditions and what signals you should use to enter or exit the market. While there are many tools that can assist with this, one often overlooked indicator is called the stochastic oscillator. Nothing unique to the world of blockchain, the stochastic is a momentum indicator that compares the closing price of the asset with its high-low range over a certain period of time, it's a handy tool. Even better, it works no matter the volatility, even in the fast-moving market for cryptocurrencies. First, the parti...
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Crypto Trading 101: Bull and Bear Flags (And What They Mean for Price)

Crypto Trading 101: Bull and Bear Flags (And What They Mean for Price)

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Crypto Trading 101: Bull and Bear Flags (And What They Mean for Price) When it comes to making big money in trading, the trend is your friend. But spotting the trend when it is in the nascent stage is challenging, and running along with it right up to the top is an even bigger challenge. That's because asset prices rarely see a 90-degree rally or collapse. More often than not, trends (bullish/bearish) will pause briefly to allow traders or investors who missed the initial move (higher or lower) to join the bandwagon. If the participation increases, the asset price extends the bull or bear run, or else a trend reversal may occur. Continuation patterns A trader can spot trend extensions with the help of bullish or bearish continuat
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$8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls

$8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls

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Please share if you find this article interesting. $8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls $8,000? It's not out of the question. With no price pullback happening in the wake of Tuesday's sudden surge, the technical charts indicate bitcoin could soon close in on this key psychological benchmark. First, an expected pullback was not without merit (the charts were looking overextended on Tuesday when the 4-hour RSI reached its highest level since 2016), but since Wednesday, the world's largest cryptocurrency has largely consolidated gains in a narrow range between $7,246 and $7,588. As the trading range tightens and the technical indicators regain composure, the probability of bullish continuation increases. At press time, the CoinDesk Bitcoin Price Index shows bitcoi
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Congressman’s Call for Crypto Ban Sparks Social Uproar

Congressman’s Call for Crypto Ban Sparks Social Uproar

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Please share if you find this article interesting. Congressman's Call for Crypto Ban Sparks Social Uproar In the span of a few hours, it became Crypto Twitter vs U.S. Representative Brad Sherman. On Wednesday, Congress hosted a pair of back-to-back hearings on the topic of cryptocurrencies (read CoinDesk's coverage here and here), which notably saw Rep. Sherman – no stranger to controversy among crypto circles – call for a blanket ban on "buying or mining cryptocurrencies." And while Sherman is just one lawmaker among more than 400, social media observers quickly turned their sights on the California Democrat. For example, Sherman was accused of bias because his largest donor this past election cycle is a credit card payments firm based in Los Angeles (where his district, Califor
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Bitcoin Price Prepares to Test $8K After Bull Breather

Bitcoin Price Prepares to Test $8K After Bull Breather

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Please share if you find this article interesting. Bitcoin Price Prepares to Test $8K After Bull Breather Bitcoin's (BTC) refresher pause has likely set the tone for the next leg higher in prices. The leading cryptocurrency has spent a better part of the last 15 hours trading the $7,240–$7,440 trading range, having clocked a 40-day high of $7,588 at 18:00 UTC yesterday. Moreover, BTC was looking overbought at multi-week highs, hence a minor correction was expected. More importantly, the price pullback and the subsequent consolidation, when viewed against the backdrop of the high volume inverse head-and-shoulders breakout, indicates that BTC has likely gathered steam for a more sustainable rally towards $8,000. At press time, BTC is changing hands at $7,400 on Bitfinex – up 0.20
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Bitcoin Trading Volume Is Up 100% From Its Recent Low

Bitcoin Trading Volume Is Up 100% From Its Recent Low

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Please share if you find this article interesting. Bitcoin Trading Volume Is Up 100% From Its Recent Low With Tuesday's dramatic $600 bitcoin rally came a sharp rise in trading volume, more specifically a 100 percent increase from its 7-month volume low set just four days ago. As of Monday, bitcoin's 24-hour trading volume had fallen to $2.92 billion, a level last seen on November 7. However, as price volatility tends to follow dramatic volume lows, bitcoin's breakout yesterday was no exception to the rule: 24-hour trading volume reached $5.9 billion. All in all, this marked a 103.7 percent increase from the 36-week low set this past Saturday. On some exchanges, volumes even set records. A popular high-leverage trading cryptocurrency exchange, Bitmex, experienced its highest bit...