Bitcoin whale clusters show major resistance levels are at $10,570 and $11,288, raising the chances of a major sell-off.

According to Whalemap, an on-chain analysis firm that focuses on Bitcoin (BTC) whale activity, short-term clusters are present at $10,570.

Whale clusters form when whales accumulate Bitcoin and do not move the BTC. Areas that have large amounts of unspent BTC become an area of interest, typically a resistance level. Analysts at Whalemap explain:

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Views: 6 | Added by: legokykondra | Date: 14.09.2020 | Comments (0)

Check out this week’s Bad Crypto podcast.

It’s been a tough week for Bitcoin. The price has fallen more than 8 percent and dipped below $10,000 on three consecutive days. Analyst Willy Woo, though, thinks it’s all looking good. He believes that on-chain indicators, such as the NVT ratio, suggest a bullish outlook, while Su Zhu of Three Arrows Capital believes that a surge to $100,000 is more likely than a fall to $5,000.

The son of gold investor and Bitcoin critic Peter Schiff is convinced. The 18-year-old college freshman just bought some more Bitcoin, against his father’s advice. Asked whether they want to follow the student who’s never had a job or the 30-year investment professional, Twitter p ... Read more »

Views: 7 | Added by: legokykondra | Date: 14.09.2020 | Comments (0)

The price of Bitcoin fell by 3% as on-chain data shows miners are starting to sell BTC on exchanges once again.

The price of Bitcoin (BTC) dropped from $10,580 to as low as $10,258 on Coinbase on Sep. 13. The 3% fall within nine hours comes after on-chain data hinted at a potential miner sell-off.

Miners continue to apply high selling pressure on Bitcoin

Throughout the past week, on-chain analysts have said that miners have been selling relatively larger amounts of BTC.

Miners are one of the two unmatched sources of selling pressure in the cryptocurrency market besides exchanges. Consequently, when miners move their mined BTC, it can cause immense selling pressure to build.  ... Read more »

Views: 7 | Added by: legokykondra | Date: 14.09.2020 | Comments (0)

MicroStrategy has outperformed Nasdaq since buying BTC. Now it's doubling down.

MicroStrategy’s board of directors elected to make Bitcoin (BTC) the company’s primary reserve asset. The SEC disclosure stated that this may lead to the future expansion of the company's cryptocurrency holdings beyond the original purchase of 21,454 BTC, equivalent to $250 million:

“Bitcoin serving as the primary treasury reserve asset on an ongoing basis, subject to market conditions and anticipated needs of the business for Cash Assets, including future potential share repurchase activity. As a result of this new Policy, the Company’s holdings of bitcoin may increase beyond the $250 million in ... Read more »

Views: 7 | Added by: legokykondra | Date: 14.09.2020 | Comments (0)

Time for hardware wallet devices to make a difference.

Jameson Lopp, co-founder and CTO of Casa, a crypto custody firm has released a test result report on Bitcoin multi-signature hardware signing performance on the Casa blog on Sep. 13. 

The result shows that hardware crypto wallet devices can handle small, simple transactions well. However, they have trouble performing once the transaction becomes complicated. Casa is said to be built upon geographically distributed multisig, dedicated hardware devices to secure keys, designed user experience, and client services.

Lopp pointed out that while the company has no control over the hardware devices, the goal is to support any device at the end of the day. Thus, he de ... Read more »

Views: 7 | Added by: legokykondra | Date: 14.09.2020 | Comments (0)