People in Turkey are increasingly turning to bitcoin as the local currency, the Turkish lira, recently hit another record low against the dollar. Bitcoin adoption in Turkey outshines other countries in the region

Turkey Is Regional Leader in Bitcoin Adoption.

Bitcoin adoption has been increasing in Turkey as the local currency, the Turkish lira, hit another record low Thursday, reportedly touching 7.95 to the dollar. The dollar has gained about 33% against the lira so far this year and some analysts are predicting that it will soon hit 8.5. “The Turkish lira is getting smoked” and “will crash to new lows due to ‘unorthodox’ policies,” CNBC reported analysts explaining. “The lira&rsqu ... Read more »

Category: News | Views: 16 | Added by: 4zvezda | Date: 19.10.2020 | Comments (0)

The U.S. already has a “safe and active dynamic domestic payment system,” Powell argued.

The United States will not be issuing a digital dollar until the Federal Reserve resolves all questions around a potential central bank digital currency, or CBDC, according to the Fed's chairman, Jerome Powell.

Powell claimed that he is not worried about other countries having a first-mover advantage when it comes to issuing CBDCs.

Speaking at an Oct. 19 panel on cross-border payments hosted by the International Monetary Fund, Powell said:

We have not made a decision to issue a CBDC, and we think there’s a great deal of work yet to be done [...] In fact, I actu ... Read more »

Category: News | Views: 56 | Added by: danyagames2007 | Date: 19.10.2020 | Comments (0)

Dan Tapiero shared a survey from Statista that showed only 7% of Americans previously used BTC, showing Bitcoin is still in an early phase.

According to new data from Statista, only 7% of Americans have previously used Bitcoin (BTC). This means current investors in BTC are still in an early stage of growth.

Dan Tapiero, the co-founder of 10T Holdings, said Bitcoin is still at the “birth” phase of a new asset class. He wrote:

“It's still so early for Bitcoin. Still at the birth of a new global asset class.”

In the longer term, Bitcoin has significant growth potential to evolve into an established store of value, like gold. If so ... Read more »

Category: News | Views: 50 | Added by: danyagames2007 | Date: 19.10.2020 | Comments (0)

The Russian national linked to the laundering of $4 billion of Bitcoin stolen during the Mt. Gox hack is finally in court.
 

The trial of the alleged launderer of $4 billion worth of Bitcoin (BTC), Alexander Vinnik, got underway in Paris on Oct 19.

However, despite reported links to the 300,000 BTC hack of Mt. Gox in 2014, prosecutors are focusing on a €135 million ($159 million) ransomware fraud targeting French businesses and organizations between 2016 and 2018.

According to AP News, Russian national Vinnik is being charged with extortion, money laundering and criminal association after 20 victims of the "Locky" malware paid the ransom in Bitcoin through BTC-e.

Vinnik is alleged to b ... Read more »

Category: News | Views: 39 | Added by: danyagames2007 | Date: 19.10.2020 | Comments (0)

While Bitcoin has seen strong volatility on a day-to-day and week-to-week basis, it is flat on a macro scale. The crypto-asset has basically traded in the same $3,000 range for five months now. This has allowed macro volatility indicators to subside to critical historical points.

Volatility analysis by one fund manager in the space suggests that when a breakout happens, it will be explosive. He thinks it will be so explosive, in fact, that Bitcoin could hit $20,000 in three months if it attempted to break higher now.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

Next Bitcoin Breakout Likely to Be Explosive


Bitcoin’s next macro brea ... Read more »

Category: News | Views: 33 | Added by: danyagames2007 | Date: 19.10.2020 | Comments (0)

Bitcoin has been consolidating within a $1,500 range over the past seven weeks. With BTC currently pushing higher and the fundamentals aligning in favor of bulls, analysts have begun to expect a strong rally into the end of a year.

This may not take place, though, an analyst keeping an eye on options has noted. He added that with whales likely to sell into the end of the year for tax purposes, BTC may not move higher.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

Unlikely to Be a “Mega” Bitcoin Pump in Q4: Analyst

Options-focused crypto-asset analyst “Theta Seek” thinks that it is unlikely Bitcoin rallies into the end of ... Read more »

Category: News | Views: 39 | Added by: danyagames2007 | Date: 19.10.2020 | Comments (0)

Bitcoin price is slowly rising and it is now trading above $11,400 against the US Dollar. BTC is a bit hesitant, but further gains above $11,550 seems very likely.

Bitcoin is showing a few positive signs above the $11,350 and $11,400 levels.
The price is currently facing hurdles near $11,560, but it is above the 100 hourly simple moving average.
There is a key rising channel forming with support near $11,420 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to accelerate higher above $11,560 as long as it is above the $11,300 support. 

Bitcoin Price is Rising Steadily

After forming a support base above $11,300, bitcoin price started a slow and steady increase. ... Read more »

Category: News | Views: 52 | Added by: danyagames2007 | Date: 19.10.2020 | Comments (0)

Data from Glassnode shows that traders are hoarding BTC. Is a Bitcoin bull run on the horizon?

The amount of Bitcoin stored on exchanges is “continuously plummeting,” according to a new report from CoinTelegraph.

Indeed, since Crypto’s ‘Black Friday’ in March, when the price of Bitcoin swiftly fell from over $9,000 to nearly $4,000, data from Glassnode shows that the amount of Bitcoin that traders are storing in cryptocurrency exchange accounts has fallen to the tune of $2.85 billion (from 2,950,000 BTC to 2,700,000 BTC.)

... Read more »

Category: Analytics | Views: 37 | Added by: 4zvezda | Date: 19.10.2020 | Comments (0)

Despite unclear crypto regulations in the country, Russia may become the leader in sustainable crypto mining.

Last month, Chinese President Xi Jinping, declared that China has plans to become carbon neutral by 2060, calling for a “green revolution.”

If the plan is properly implemented, it could help China to finally shed its biggest-polluter status and significantly improve the global ecosystem, which could also drastically shake up the country’s eminent Bitcoin (BTC) mining industry.

The most well-known mining hub of China is the Southern province of Sichuan, which has an abundant hydroelectricity sector. However, the electricity there is especially cheap only during the wet season, which takes place ... Read more »

Category: News | Views: 42 | Added by: danyagames2007 | Date: 19.10.2020 | Comments (0)