How does Bitcoin’s positive online sentiment affect the market outlook? Data suggests that holders are suddenly becoming more active.

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, show that the Bitcoin Age Consumed experienced a large uptick with the recent price increase — a sign that tokens previously dormant are on the move. 

The Bitcoin Age Consumed metric is found by multiplying the amount of tokens changing addresses on a certain date by the time since they last moved. It is an indicator of volatility, which often precedes a directional price shift. Over 79,955 BTC that were dormant for at least a year changed addresses on Friday, Oct. 23, pointing t ... Read more »

Category: News | Views: 62 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

Russian banks tap Bitcoin services abroad while the government at home sees no future for private cryptos.

Major private-owned Russian bank Gazprombank has received regulatory approval to launch cryptocurrency custody services through its Swiss subsidiary.

According to an official announcement on Oct. 29, the bank scored approval from the country's financial regulator, the Swiss Financial Market Supervisory Authority, to offer crypto custody and trading services to its institutional and corporate clients.

Offerings will initially be restricted to a select group of customers with Bitcoin (BTC) as the only supported cryptocurrency. Gazprombank plans to gradually expand the offering to include additional cryptocurrenc ... Read more »

Category: News | Views: 64 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

If Bitcoin can stay above $10,000 by the day of the U.S. elections, history suggests that $100,000 is next.

Bitcoin (BTC) has spent nearly 100 days above $10,000 — and if history repeats itself, further price gains could be astronomical.

As noted by various social media users this week, as of Oct. 30, Bitcoin was just five days away from trading above $10,000 for 100 days.

BTC price closes in on 100 days at $10,000

According to data from analytics firm CoinMetrics compiled by Twitter user Julio Moreno, after trading above certain price points specifically for 100 days, Bitcoin subsequently gained by an order of magnitude ... Read more »

Category: News | Views: 79 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

The price of Bitcoin abruptly dropped 4% from the day’s peak as the uncertainty in the stock market intensified.

The price of Bitcoin (BTC) abruptly dropped 4% from the day’s peak on Oct. 30 as the uncertainty in the stock market intensified. With five days left to the U.S. presidential election, Bank of America, or BofA, suggested a 20% drop is possible.

The Dow Jones Industrial Average declined 7.55% since Oct. 12. Tech-heavy stock indices performed slightly better in the same three weeks as the Nasdaq dropped 5.8%.

While the correlation between Bitcoin and stocks has declined in recent weeks, the slump of risk-on assets could negatively affect cryptocurrencies.

... Read more »

Category: News | Views: 66 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

Yearn.finance (YFI) has undergone a strong retracement over the past few weeks and months despite fundamental strength in DeFi. The price of the leading Ethereum-based coin has crashed from its $44,000 all-time high set at the end of August to $10,200 now. This means that the asset has slid over 76% from its all-time high.

This is not the worst performance a DeFi coin has seen. A number of other tokens pertaining to this space have slid even further than 76%, but Yearn.finance’s decline has been the one garnering the most attention.

Here’s what analysts think comes next for the coin in the face of such a strong move lower.

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

Category: News | Views: 47 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

The price of bitcoin jumped above the $11k threshold on Saturday morning and into the afternoon, after hovering above the $10,900 range the day prior. The entire crypto-economy of 7,600+ coins has gained 2.29% during the last 24 hours touching $344 billion.

Bitcoin (BTC) markets have surpassed key levels above the $11k mark on Saturday, as the cryptocurrency has seen close to $4 billion in global trade volume. A number of people are watching the current price range and believe the $11,000 region is a key zone to watch. One trader explains that BTC has a number of price hurdles ahead to remain bullish in the short term.

... Read more »

Category: News | Views: 61 | Added by: 4zvezda | Date: 30.10.2020 | Comments (0)

A splendid beginning for Yearn Finance in the third quarter is coming to an end with a brutal sell-off.

The yield farming aggregator suffered a major blow this week as its governance token, YFI, plunged by 39 percent. In the last 24 hours alone, the cryptocurrency experienced a 10.35 percent price decline, a move that also saw it taking a brief dip below $10,000 – towards $9,600 – before recovering back above the five-figure valuation.

But that did not take YFI out of its long-term downtrend. After topping out at $44,026 on September 12, the Yearn Finance token crashed by as much as 78.19 percent, hitting the low of $9,600 in just today’s session. Its move left traders guessing about whether the price would r ... Read more »

Category: News | Views: 48 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

A recent Coinmetrics report says on-chain fundamentals are hinting at bitcoin experiencing its biggest breakout yet. The report notes that bitcoin is already showing signs of this following its rise by about $1,000 in one day on October 21. The digital asset has subsequently set a new all-time high for the year.

A New Precedent

While acknowledging the difficulty in predicting bitcoin’s future value due to its notorious volatility, authors of the report insist there is a difference between previous bull runs with the current one. According to their report, “BTC has been growing in ways that we have not seen in previous bull runs.”

... Read more »

Category: News | Views: 73 | Added by: 4zvezda | Date: 30.10.2020 | Comments (0)

With a market cap now over $1.5 billion, Wrapped Bitcoin (WBTC) makes up 80% of the total BTC held on Ethereum.

Wrapped Bitcoin (WBTC) reached all-time highs today in terms of market capitalization and number of tokens.

WBTC is the most popular version of Bitcoin tokenized for use on the Ethereum network. According to the official website, there currently is a record total of 116,885 WBTC, backed by an equal number of BTC held by custodians. The market cap of WBTC now tops $1.58 billion.

This makes WBTC Ethereum’s sixth-largest token by market cap, after Crypto.com Coin (CRO), USD Coin (USDC), Chainlink (LINK), BNB (BNB), and at number one, Tether USD (USDT).

WBTC moved up the rankings in the past week to ... Read more »

Category: News | Views: 65 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

Only 8.1% of Bitcoin is held on exchanges compared to Ether where almost one-quarter of the supply sits on exchanges.

Almost one-quarter of Ethereum’s (ETH) circulating supply is held on cryptocurrency exchanges, according to analytics platform ViewBase.

The website shows that 26,768,260 ETH are on exchanges, equating to 23.6% with a value of $10.3 billion. Almost 26 million of these tokens are held by 10 centralized exchanges, with Coinbase alone sitting on 8,521,807 ETH — 7.5% of the supply.

Ether is miles ahead of Bitcoin (BTC) in terms of the percentage of tokens held on exchanges. Bitcoin has 8.1% of its circulating supply held on exchanges.

Earlier this month, Cryptocurrency statistician Willy ... Read more »

Category: News | Views: 56 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

Bitcoin price is up over 3% and it gained strength from the $13,000 support against the US Dollar. BTC is now facing a heavy resistance near the $13,650 and $13,700 levels.

Bitcoin remained well bid above the $13,000 level and it started a fresh increase.
The price broke the $13,500 resistance and settled above the 100 hourly simple moving average.
There is a connecting bullish trend line forming with support near $13,050 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair must settle above $13,650 and $13,700 to continue higher in the near term.

Bitcoin Price Starts Fresh Increase

Yesterday, we saw a sharp downside correction in bitcoin price below the $13,500 support level. B ... Read more »

Category: News | Views: 65 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

Arbismart Logo
Chainlink (LINK) started a sharp decline after forming a head and shoulders pattern (as discussed in the previous analysis). The bears are gaining strength and aiming a test of $10.20.

Chainlink token price started a fresh decline after it failed to clear the $12.50 resistance against the US dollar.
The price is now trading below $11.20 and the 100 simple moving average (4-hours).
There is a key declining channel forming with resistance near $11.80 on the 4-hours chart of the LINK/USD pair (data source from Kraken).
A head and shoulders pattern triggered a sharp decline below the $11.50 support.

Chainlink (LINK) Price Dives 10%

In my last technical analysis, we saw a potential h ... Read more »

Category: News | Views: 55 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

While bitcoin prices touched all-time 2020 highs on Tuesday, a few analysts say they are expecting only a few more hurdles to surpass the 2017 all-time high (ATH). For instance, the market analyst from Etoro, David Derhy, says to look to $20,000 instead of back at $12,000.

  • A few traders and popular cryptocurrency analysts think that bitcoin (BTC) simply needs to cross the $14k region and its lift-off from there. Tuesday’s 2020 ATH of $13,684 is just shy of last year’s ATH at $13,796 per bitcoin which was accomplished on June 26, 2019.
  • Macro strategist Raoul Pal said on Tuesday that there are only two major BTC price resistances left. “There are literally only two resistances left on ... Read more »
Views: 32 | Added by: 4zvezda | Date: 30.10.2020 | Comments (0)

Prosecutors from the Netherlands have seized 2,532 bitcoins worth $33 million after a couple was convicted of money laundering by the Rotterdam District Court. The man and his wife were sentenced to two years for illegal money transmission and the court claims the couple’s bitcoin stash was used on the deep web.

Dutch officials recently arrested and charged a man and his wife for illegal money transmission and money laundering. According to the Dutch Public Prosecution Service from the Rotterdam District Court, the two suspects laundered close to $19 million using bitcoin during the last two years. Most of the couple’s illegal earnings were stored in bitcoin and the Rotterdam police confiscated the stash.< ... Read more »

Category: News | Views: 56 | Added by: 4zvezda | Date: 30.10.2020 | Comments (0)

Adoption started slow but has ramped up with the passage of time.

With the recent influx of mainstream financial players into the blockchain space, how long will it take for corporate allocation of Bitcoin (BTC) to become the norm? Brian Estes, founder of investment firm Off The Chain Capital, thinks 10 years.

"I think in 2029, 2030, when 90% of U.S. households and people in the United States use cryptocurrency and Bitcoin, then I think it becomes a stable part of the economy, and not just the U.S. economy, but I think the world economy," Estes told Cointelegraph in an interview. 

Estes' rationale is based on an analysis of the S-curve, a common graphical image depicting the speed and process of adop ... Read more »

Category: News | Views: 65 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

Bitcoin’s decoupling from stocks began within days of its NVT price hitting an all-time high, according to Willy Woo.

Bitcoin (BTC) has started to decouple from the U.S. stock market index S&P 500 according to crypto statistician Willy Woo.

Predicting this behavior in late September, he asserted that Bitcoin will break ties with traditional markets due to an influx of new users:

“Bitcoin will decouple from traditional markets soon, but driven by its internal adoption s-curve (think startup style growth) rather than changes in perceptions as a hedging instrument by traditional investors.”

Referring to Network Value to Transaction Rati ... Read more »

Category: News | Views: 36 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

Nine celebrities have wished Bitcoin a happy twelfth birthday despite knowing very little about the cryptocurrency.

Nine celebrities with profiles on the sponsored video-sharing platform Cameo have published messages wishing Bitcoin (BTC) a happy birthday ahead of the twelfth anniversary of the publication of its whitepaper on Oct. 31.

The videos were paid for by crypto security firm Halborn, and feature Hollywood notables, musicians, and comedians including David Hasselhoff, Charlie Sheen, Carole Baskin, Charlamagne Tha God, Gilbert Gottfried, Doug Benson, Hassan Johnson, Soulja Boy, and RZA.

Most of the celebrities were reading off talking points and showcased varying levels of crypto-literacy. Charlamagne Tha God qu ... Read more »

Category: News | Views: 55 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)

With a market cap now over $1.5 billion, Wrapped Bitcoin (WBTC) makes up 80% of the total BTC held on Ethereum.

Wrapped Bitcoin (WBTC) reached all-time highs today in terms of market capitalization and number of tokens.

WBTC is the most popular version of Bitcoin tokenized for use on the Ethereum network. According to the official website, there currently is a record total of 116,885 WBTC, backed by an equal number of BTC held by custodians. The market cap of WBTC now tops $1.58 billion.

This makes WBTC Ethereum’s sixth-largest token by market cap, after Crypto.com Coin (CRO), USD Coin (USDC), Chainlink (LINK), BNB (BNB), and at number one, Tether USD (USDT).

WBTC moved up the rankings in the past week to ... Read more »

Category: News | Views: 43 | Added by: danyagames2007 | Date: 30.10.2020 | Comments (0)