Data suggests that fresh capital has prompted BTC’s latest price pump to above $12,000. In other words, it wasn’t a money relocation from altcoins to Bitcoin.

Bitcoin is enjoying several consecutive bullish days, resulting in a break above $12,000. The movement may surprise some. A few days ago, news broke that the popular cryptocurrency exchange OKEx had suspended withdrawals after reports emerged that its founder was taken away by the police.

In early October, the owners of another large platform, namely BitMEX, were charged by the US CFTC with illegally operating a derivatives exchange.

Similar developments typically lead to adverse consequences for the cryptocurrency market. Although Bitcoin’s price indeed dipped briefly, the asset recovered swiftly. Moreover, it actually started accelerating.

On October 2nd, when the BitMEX news came out, BTC slumped to $10,400. With its price set above $12,200, this re ... Read more »

Category: Analytics | Views: 19 | Added by: 4zvezda | Date: 21.10.2020 | Comments (0)

Bitcoin's hot streak is proving an irresistible prospect for Wall Street investors while stocks and shares slip and slide.

In brief

  • AAX continues its record-breaking run above $10,000.
  • Institutional investors continue to flock to the cryptocurrency as a hedge against rocky stock markets.
  • Euro stocks slide as further lockdowns seem increasingly likely.

Just yesterday the Decrypt Market Watch was talking about Bitcoin’s stellar performance, especially when compared to stocks and shares. Today its run of good fortune continues, shooting past the $12,000 mark for the third time in 2020. 

While you may be thinking, “so what, it’s done this ... Read more »

Category: News | Views: 50 | Added by: 4zvezda | Date: 21.10.2020 | Comments (0)

Bitcoin leaving macro assets behind will be the “biggest story in crypto” if it continues, but there’s more to be bullish about, says Cole Garner.
 

Bitcoin (BTC) abandoning correlation with traditional markets will be its “biggest story” if it continues, one popular analyst says.

In a series of tweets on Oct. 21, Cole Garner highlighted Bitcoin’s market decoupling among bullish price factors.

Garner: Decoupling will be crypto’s “biggest story”

 Garner retweeted a chart of Bitcoin, gold, the S&P 500 and Ether (ETH), which shows Bitcoin striking out on its own, delivering positive returns while other assets floundered.

The chart ... Read more »

Category: News | Views: 47 | Added by: danyagames2007 | Date: 21.10.2020 | Comments (0)

The number of hotels with a bitcoin ATM on-site is growing in Switzerland. The latest announcement came from The Dolder Grand, a luxury hotel and spa in Zurich, which recently installed a crypto ATM supporting four cryptocurrencies.

Bitcoin ATMs Gaining Popularity in Hotels

The Dolder Grand announced Monday that a cryptocurrency ATM has been installed at the hotel for guests to buy and sell cryptocurrencies on-site. The announcement states:
 

As of now, guests of the Zurich Hotel Dolder Grand can buy and sell cryptocurrencies on site – conveniently at the crypto ATM. This is made possible by a device from the Swiss ... Read more »

Category: News | Views: 46 | Added by: danyagames2007 | Date: 21.10.2020 | Comments (0)

The U.S. presidential election is only 14 days away, and a number of bitcoin proponents have been discussing the capital gains tax implications Joe Biden plans to invoke if he wins the American presidency. According to Biden’s plan, capital gains will be raised from 21% to 39.6% for certain income brackets. Two weeks ago, the current U.S. president, Donald Trump, floated the idea of cutting long-term capital gains cut down to 15%.

In just two weeks, the U.S. may see a new president or it may get another four years of Donald Trump if the incumbent wins the election. This week a number of people have been discussing what taxes will be like in the U.S. if Joe Biden was elected president.

For instance, hip-h ... Read more »

Category: News | Views: 50 | Added by: danyagames2007 | Date: 21.10.2020 | Comments (0)

Bitcoin has seen a massive upswing over the past couple of days that brought a firm end to its consolidation phase and is now allowing it to confront its key resistance around $12,000.

This level has been holding strong as resistance, and throughout the year, any break above this level was met with heavy selling pressure that catalyzed intense selloffs.

Bitcoin has also been guiding the market over the past week, but this trend appears to be shifting – as altcoins sold-off today while BTC saw a strong and sustainable move higher.

This is quite unusual, as typically altcoins move in tandem with the rest of the market.

One explanation for this may be a trend seen while looking towards BTC’s market dom ... Read more »

Category: News | Views: 38 | Added by: danyagames2007 | Date: 21.10.2020 | Comments (0)

Peter Schiff is one of Bitcoin’s biggest naysayers. The well-known gold bug recently had his dirty laundry aired out for all to see, as part of an alleged tax evasion case involving his Euro Pacific Bank.

As part of an exposé, it was revealed that Schiff’s offshore bank was once the target of Bitcoin ransomware, and could explain his deep-rooted hatred toward the number one cryptocurrency by market cap.

Peter Schiff’s Gold-Backed Bank Was Held Ransom By Bitcoin Hackers
 

Crypto investors might know Peter Schiff due to his constant bashing of Bitcoin on Twitter. Precious metal investors might recognize the name associated with buying and selling gold.

Schiff is also well known in t ... Read more »

Category: News | Views: 40 | Added by: danyagames2007 | Date: 21.10.2020 | Comments (0)

Bitcoin is currently approaching the critical $12,000 resistance level that analysts and investors have been closely watching throughout the past few days and weeks.

Its rally up to this level has come about throughout the past 24-hours, without any significant catalyst. One interesting trend that has coincided with this upswing is a selloff amongst altcoins.

Although major altcoins like Ethereum typically rise and fall alongside Bitcoin, the benchmark cryptocurrency has been rising at altcoins’ expense over the past day.

While breaking down what has driven this Bitcoin rally, one analyst noted in a recent tweet that spot buying pressure has been backing this move higher, while the futures market generally remain ... Read more »

Category: News | Views: 41 | Added by: danyagames2007 | Date: 21.10.2020 | Comments (0)

Bitcoin price is up over 2% and it broke the $11,800 and $12,000 resistance levels against the US Dollar. BTC is now trading above $12,000, with high chances of more upsides.

Bitcoin remained in a positive zone and it cleared the $11,800 and $12,000 resistance levels.
The price is currently testing the $12,150 zone and it is well above the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $11,980 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to accelerate higher above $12,100 and $12,200 in the near term.

Bitcoin Price is Gaining Momentum

Bitcoin price gained bullish momentum after a successful close above the $11,56 ... Read more »

Category: News | Views: 48 | Added by: danyagames2007 | Date: 21.10.2020 | Comments (0)

Data from Wilshire Phoenix suggests BTC price formation is driven by CME Bitcoin futures but would this dynamic differ if stablecoin volumes were also included?

On Oct. 14, Wilshire Phoenix investment firm released its Efficient Price Discovery report, which detailed how CME Bitcoin (BTC) futures impact Bitcoin price discovery.

The firm concluded that "CME Bitcoin futures contribute more to price discovery than its related spot markets." And the researchers also suggested that:

"CME Bitcoin futures have grown to become significant, this is not only demonstrated through trading volume and open interest, but also by influence on spot price formation."
 

... Read more »

Category: News | Views: 62 | Added by: danyagames2007 | Date: 21.10.2020 | Comments (0)

It’s been a tough past few days for the DeFi market. Top decentralized finance coins have surprised most of their holders, actually dumping despite a relatively strong performance by Bitcoin.

In the past three days, BTC has gained over 5%, surging from $11,300 to $12,000 at the recent highs. Altcoins are not partaking in strong BTC price action for the first time in many months, suggesting to some commentators that a shift has taken place in how crypto investors allocate capital.

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

DeFi Coins Crash as Bitcoin Inches Higher

Related Reading: Here’s Why Ethereum’s DeFi ... Read more »

Category: News | Views: 35 | Added by: 4zvezda | Date: 21.10.2020 | Comments (0)

Blockchain can play its part in the education sector — record-keeping in 2–3 years and then adoption by the labor market?

In the post-pandemic world, individuals will need to seize ownership and control of their educational credentials — documents like degrees and transcripts — from schools, universities and governments. That notion received key support last week from the American Council on Education in a study funded by the United States Department of Education focusing on the use of blockchain in higher education.

“Blockchain, in particular, holds promise to create more efficient, durable connections between education and work,” wrote Ted Mitchell, the president of ACE, in the foreword to ... Read more »

Category: News | Views: 39 | Added by: danyagames2007 | Date: 21.10.2020 | Comments (0)

Bitcoin price is near $12K again but this level may cause more harm than good if bulls fail to flip it to support.
 

On Tuesday Bitcoin (BTC) bulls mustered enough strength to push BTC price slightly above the $12K mark, a level not seen since Sept. 1. 

Cryptocurrency daily market performance snapshot. Source: Coin360

The move occurred after Monday’s (Oct. 19) high volume surge to $11,822 was followed by continued buying into Tue ... Read more »

Category: News | Views: 41 | Added by: danyagames2007 | Date: 21.10.2020 | Comments (0)

The average Bitcoin transaction is now worth more than $150,000.

The average value of Bitcoin (BTC) transactions has increased dramatically since July this year. 

The average transaction value was sitting at approximately $25,000 per transaction four months ago, but posted a yearly high on Oct 20 at $151,000 per transfer — representing an increase of more than 500%.

Average Bitcoin transaction value. Source: BitInfoCharts

The latest ... Read more »

Category: News | Views: 38 | Added by: danyagames2007 | Date: 21.10.2020 | Comments (0)