Bitcoin started a downside correction from the $9,780 swing high against the US Dollar. BTC found support near $9,600 and it is currently gaining bullish momentum for a fresh rally. Bitcoin is trading nicely above the $9,500 support zone and the 100 hourly simple moving average. A short-term downside correction seems to be over near…
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After holding in the low-$9,000s, Bitcoin finally saw a breakout recently. The cryptocurrency liquidated $15 million worth of BitMEX short contracts as it shot as high as $9,800 during Monday’s trading session. This was the highest BTC had traded in 10 days. Bitcoin’s strength came on a swath of positive news. Firstly, while the S&P…
DetailsThroughout 2017 and 2018, many altcoin-advocates pointed to Bitcoin’s lack of transactional speed as a reason why it would be usurped by other smaller alternatives. “Speed” naturally became a selling point of many altcoins. That being said, this was not enough to generate any type of investor interest or extreme utilization. One prominent Bitcoin investor…
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The narrative around decentralized finance (“DeFi”) has strengthened this year. While Ethereum is up nearly 90% since the beginning of 2020, some DeFi tokens, including Aave (LEND), have skyrocketed over 1,000%. Investors’ interest seems to be shifting towards this market sector. Yet in the long-term Ethereum will benefit the most, according to Skew. The crypto…
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Bitcoin’s price action has been incredibly lackluster in recent times. Its consolidation channel was at risk of breaking yesterday, buy sellers ardently defended against BTC shattering the resistance it has in the upper-$9,000 region. It does appear that the coming three days could be some of the most volatile the benchmark digital asset has seen…
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There has been a boom in demand for Ethereum in recent times, with much of this stemming from the explosive growth of the DeFi sector. Although this demand has yet to result in any type of bullish price action, it does appear that its growing utility is bolstering its macro outlook. That being said, the…
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China’s Blockchain Service Network (BSN) has announced the use of Chainlink oracles. With this, the BSN is allowing enable government and enterprise data to flow across its IRITA interchain service hub. BSN earlier tweeted its excitement over the news. The network said this represents a major boost in terms of the network’s ability to integrate…
DetailsThe United States is in turmoil, and the dollar is weakening slowly, but steadily. But an economist is warning that the decline may soon kick into warp speed. If it does, what might that mean for Bitcoin? Warp Speed Dollar Decline Could Lead Bitcoin To Take The Throne The United States has long enjoyed its…
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Ethereum, the second-ranked cryptocurrency by market cap’s most important use cases, continues to spike. As these metrics breakout and surge, the smart-contract focused altcoin may be ready to explode. Ethereum Finds New Use Case After ICO Fallout The initial coin offering boom of 2017 helped bring Ethereum to an all-time high of $1,400 per ETH…
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An over 300 million active register accounts on PayPal highlights just how important digital scarcity is to Bitcoin’s value. The enormous installed userbase suddenly having access to cryptocurrencies could be a major boost to adoption. We’ve done the math to see how the numbers add up and the type of impact that is possible. PayPal…
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