It’s been a quiet past few weeks for Bitcoin. After reaching $10,400 at the start of June, the cryptocurrency has seen a correction and now trades in the low-$9,000s. Although a bear trend has yet to form, many have stated that the rejection BTC faced at $10,400 was bearish. After all, $10,400-10,500 is the exact…
DetailsThere’s no doubt Ethereum decentralized finance (DeFi) has been a hot trend over recent weeks. Nothing shows this as well as the value of cryptocurrencies locked in With DeFi gaining steam, there have been new voices chiming in. One such voice commenting on DeFi is Ross Ulbricht, one of the earliest known Bitcoin adopters and…
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After a series of higher lows above the current support level, Bitcoin looked primed for a move higher. However, a recent drop setting a lower low on daily timeframes has potentially started a short-term downtrend. And according to a trend measuring tool, this drop may have a lot further to go. Bitcoin Sideways May Finally…
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Bitcoin’s long-held bout of sideways trading may soon be coming to an end, as the cryptocurrency is currently flashing signs of overt weakness as it hovers around the lower boundary of its long-held trading range. Analysts do believe that this sideways trading will result in a downwards movement. One technical indicator recently flashed for the…
DetailsBitcoin solves many problems, from monetary policy mishandling to acting as the first decentralized store of wealth. But could it also be a solution to Venezuela’s sanctioned and stuck-at-sea oil problem? Rather than aimlessly floating at sea, the oil could be put to much better use. Venezuela Has Over 18 Million Barrels Of Sanctioned Oil…
DetailsFormer Washington lobbyist Jack Abramoff has agreed to plead guilty in a case involving a cryptocurrency scam. How did this former filmmaker turned lobbyist end up involved in a cryptocurrency scam? And who exactly is Jack Abramoff? Former Lobbyist and Hollywood Filmmaker Involved in Cryptocurrency Scam Lobbyist Jack Abramoff has been hit with dual charges…
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Market participants are becoming overwhelmingly concerned about a 22,000 BTC transaction that was made by the perpetrators of the PlusToken Ponzi scheme. The last time the individuals behind this scam moved such a significant number of tokens were back in mid-February. During that time, roughly 12,000 BTC, worth $117 million, was transferred to an unknown…
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Ethereum’s price has been teetering just above its crucial support that exists at the lower boundary of its long-established trading range. This does appear to be an overt sign of technical weakness, although there are several reasons why some analysts still remain bullish on the cryptocurrency. One trader is noting that ETH recently broke above…
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Reports have surfaced that Grayscale Investments is buying more Bitcoin than can be mined. According to a recent 8-K filing with the SEC, in a one week period, Grayscale added 19,879 BTC to its assets under management. One block is produced every 10 minutes, post halving each block now produces 12.5 BTC. Therefore, the average…
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Bitcoin price is eyeing a breakout towards $13,000, according to Bloomberg analyst Mike McGlone. The senior commodity strategist stated that the cryptocurrency’s declining volatility is making it a digital version of gold. He also highlighted BTCUSD trading inside a bullish technical structure. Could Bitcoin price break above $10,500, a technical resistance it has repeatedly failed…
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