It’s starting to appear that Bitcoin traders are a bit too bullish for their own liking.

The leading cryptocurrency has exploded higher in the past two days, rallying from the weekly lows of $13,300 to highs near $16,000. This rally comes as the U.S. dollar has plunged lower on expectations that Joe Biden will be taking the White House in the presidential election.

Bitcoin may head higher if the U.S. dollar moves lower, but futures market data shows that the rally is quickly becoming untenable. Namely, the funding rates of futures markets have finally begun to tick higher after the spot-market-led rally.

Bitcoin could rapidly correct to the downside if longs get overleveraged and get liquidated on a move lower. I ... Read more »

Category: News | Views: 38 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

Ethereum strongly underperformed Bitcoin during BTC’s move to $16,000. In fact, for most of the rally from $13,000 to $16,000, ETH was trading for $380-400, failing to break higher.

But after BTC has begun to consolidate, ETH has finally started to break higher. Ethereum currently trades for $440, up 10% in the past 24 hours alone.

Analysts see this reversal as notable due to the fact that it comes at an important support level for the ETH/BTC trading pair.

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

Ethereum’s Bounce Is One of Importance, Market Analysis Shows

As noted by a prominent crypto-asset analyst ... Read more »

Category: News | Views: 29 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

Bitcoin on-chain analyst Willy Woo sees three reasons why a blow-off top is unlikely to happen anytime soon for BTC price.

Despite Bitcoin's (BTC) steep rally in November, the price is consolidating above $15,000 as on-chain analyst, Willy Woo says a blow-off top is unlikely for three main reasons.

The three factors are the growing outflow of funds from exchanges, increase in “HODLers,” and data showing that investors already took profit.

Bitcoin is moving from exchanges to individual wallets

According to the data from Glassnode, a large amount of Bitcoin has been moving out of centralized exchanges in late October.

Woo says this metric is optimistic because it shows investors are tran ... Read more »

Category: News | Views: 34 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

This December the cryptocurrency community may see the first introductory phase of the highly anticipated Ethereum 2.0 consensus change. On Wednesday, the Ethereum Foundation published ETH 2.0 specifications explaining how the genesis phase will be invoked. Moreover, on November 5, Ethereum’s cofounder Vitalik Buterin sent 3,200 ETH to the genesis phase deposit contract in order to begin staking after the shift.

For quite some time now, the ETH 2.0 transition was postponed and it seems the first phase is set to begin on or around December 1, 2020. The first stage of ETH 2.0 is often referred to as “phase 0” and Ethereum developers claim the transition will reduce energy consumption. The blockchain wi ... Read more »

Category: News | Views: 35 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

The Switzerland-based bank Sygnum has announced this week that the fintech firm is now storing digital assets with the company Taurus Group. On Friday, the bank also revealed that the FINMA-approved firm’s clientele can purchase and stake XTZ by leveraging the Tezos network.

Earlier this year, news.Bitcoin.com reported on a number of Switzerland-based fintech services like Sygnum, Arab Bank Switzerland, Falcon, Maerki Baumann, SEBA Bank, and others obtaining banking licenses from the country’s Financial Market Supervisory Authority (FINMA). In January, the Swiss bank Julius Baer started offering digital currency services alongside SEBA bank. In August, the firm Basler Kantonalbank (BKB) revealed it’s ... Read more »

Category: News | Views: 35 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

Bitcoin’s bull flag will determine whether bears push the price to $14K or if bulls finally take the $16K mark.

Bitcoin price (BTC) appears to be taking a short breather after reaching a new 2020 high at $15,960 on Nov. 5.

The 1-hour and 4-hour timeframe show the price compressing within a flag and throughout the majority of the trading day, the $15,500 level has held as support. $15,750 is the level Bitcoin needs to break in order to pursue another stab at $16,000. 

... Read more »

Category: News | Views: 30 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

Yearn.finance (YFI) has gone parabolic as a massive short squeeze has taken place. The coin is up over 100% in the span of 36 hours, after falling as low as $7,500 on Thursday morning.

YFI currently trades for $16,200 on leading futures exchanges, though it peaked as high as $18,000 just minutes ago. YFI’s rally has allowed the cryptocurrency to reclaim its seat as one of the largest 50 cryptocurrencies by market capitalization.

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

Yearn.finance (YFI) Erupts Higher

While YFI is exploding higher, the coin is not yet overextended as per futures data. The funding rate of the YFI fut ... Read more »

Category: News | Views: 29 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

This week, Bitcoin nearly touched $16,000, leaving very few days remaining where buying BTC would have been unprofitable. In fact, the number has now dwindled down to just around a month left, and in no time at all, there could be no days left where buying the cryptocurrency was a bad decision.

Bitcoin Has Been Profitable Over 99% Of History, Only 33 Days Remain Unprofitable

Bitcoin price has now set a higher high over the 2019 peak, and the only remaining high to take out that’s left is the all-time high at $20,000. With the momentum the cryptocurrency currently has, the target could be taken out any day now.

The number of days left where buying BTC turned out to be unprofitable, is dwindling by the day now th ... Read more »

Category: News | Views: 32 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

Altcoins have been rocketing higher today as Bitcoin consolidates. This is the first time that altcoins have shown any signs of following in Bitcoin’s footsteps, as the benchmark cryptocurrency has been sucking all the oxygen out of the market over the past few days.

Today’s altcoin market rally was likely spurred by Ethereum catching an impulse wave that sent it rocketing higher.

Following a prolonged period of sideways trading, ETH was finally able to gain momentum a couple of days ago when news regarding the imminent release of the 2.0 network upgrade broke.

This news sent its price from $380 to $410, where it stalled and consolidated for a day or so before gaining any momentum. Meanwhile, Bitcoin rocket ... Read more »

Category: News | Views: 39 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

It’s starting to appear that Bitcoin traders are a bit too bullish for their own liking.

The leading cryptocurrency has exploded higher in the past two days, rallying from the weekly lows of $13,300 to highs near $16,000. This rally comes as the U.S. dollar has plunged lower on expectations that Joe Biden will be taking the White House in the presidential election.

Bitcoin may head higher if the U.S. dollar moves lower, but futures market data shows that the rally is quickly becoming untenable. Namely, the funding rates of futures markets have finally begun to tick higher after the spot-market-led rally.

Bitcoin could rapidly correct to the downside if longs get overleveraged and get liquidated on a move lower. I ... Read more »

Category: News | Views: 40 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

With the election taking all the air out of the room, we look at what new appointments at the DoJ could mean.

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. 

Editor's note

Are you over the election? I’m over the election. But you can bet that as soon as I finish writing this week’s Law Decoded, I will compulsively check up on what’s happening in Georgia and Pennsylvania. And it seems that I’m not alone.

Despite the election highjacking the entire news cycle, crypto has not been completely left in the corner. Likely most notable, Bitcoin is hitting highs it hasn’t seen since January 2018. Given ... Read more »

Category: News | Views: 34 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

After weeks of little information, digital asset withdrawals remain closed on crypto exchange OKEx while the entity denies rumors of arrest of leader.

After closing digital asset withdrawals in mid-October, Malta-based crypto exchange OKEx still remains tight-lipped about an unspecified on-going investigation. OKEx claims detainment chatter as simply rumors, although customers are still left without withdrawal access on the exchange, even after three weeks, hearing no palatable details around the scene. 

"Claims that a concerned party related to OKEx is under criminal detention have been refuted — we can confirm that these are rumors," OKEx said in a public update today.

Cointelegraph reached out t ... Read more »

Category: News | Views: 31 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)

Everyday investors in the Netherlands can now invest in crypto, thanks to company's new registration.

Crypto exchange BLOX received the go-ahead to operate in the Netherlands, making it the first platform to do so since the country implemented the European Union's 5th Anti-Money Laundering Directive, or AMLD5.

"BLOX is the first consumer-focused cryptocurrency company that will be included in the registry of the Dutch Central Bank," the company said in a blog announcement today. "This registration is mandatory in the Netherlands for every company that allows its users to buy, sell, trade and hold cryptocurrencies."

Netherlands-based crypto services provider AMDAX BV made headlines in October ... Read more »

Category: News | Views: 42 | Added by: danyagames2007 | Date: 07.11.2020 | Comments (0)