Category Archives: bitcoin

Auto Added by WPeMatico

Trending Bitcoin News and Market Sentiment, Weekly Edition, 6th November 2020: Bitcoin Poised to Break $16,000 as 2020 Highs Lead to Crypto Buzzing

bitcoin

  • As Trump and Biden stand off on razor’s edge over the 2020 US Presidential Elections, Bitcoin soars to break new highs for the year, setting off a crypto rally
  • Bitcoin fundamentals continue to strengthen while congestion eases off

The world may have had its eyes glued on television sets and Twitter for the latest updates on the US Presidential Elections, with candidates Donald Trump and Joe Biden set to end this campaign as the closest one in recent memory. Currently, Biden stands 6 electoral votes away from claiming victory, with Nevada providing that precise number of votes where the Democratic candidate is leading, with Associated Press currently projecting a victory for him there.

Trump has not given up of course, and his campaign team is already launching legal lawsuits to challenge the voting results and ballot count in several states, but however this ends, it will be the won by the tightest of margins, with the popular vote also intensely close as a country divided by social issues and the coronavirus battles for its political future.

Meanwhile, a Bitcoin rally that sparked over the weekend looks to continue strongly, when a stockmarket rally on Tuesday seemed to take heart in the equal division of political power in the US, prodding Bitcoin into high gear. Since then, it has only broken through the USD 14,000 resistance, setting new highs for the year and threatening on Friday to burst through new USD 16,000 levels last seen in 2017.

The rest of crypto market is taking the cue from Bitcoin, with Ethereum currently trading strongly above USD 440 to eat up orders at USD 420 onwards, and is set to also break its own 2020 high, with many altcoins now enjoying the same benefits. With Friday closing in Europe, price is now USD 15,500 for Bitcoin (CoinDesk) with even Ripple keeping hold of 25 cents.

But are we in a state of FOMO yet? The buzz is certainly there, but apparently, retail investors are not quite rushing in queue to buy Bitcoin just yet, at least, not according to Google, which says that the global search query for “bitcoin price” is only at a value of 10 out of a possible 100. A far cry from the 93 value recorded in December 2017 when Bitcoin last reached these levels. In May this year, when Bitcoin halving reduced the Bitcoin rewards to miners by 50%, the value was almost double today’s at 19, suggesting that individuals might still not yet be occupied with the rise in Bitcoin price.

This does seem at odds with the analysis of others who say that FOMO is coming, though, with the likes of Cointelegraph saying that we haven’t seen these levels since the bull run of 2017. They point to indicators like the Fear and Greed Index which, according to data now is in the extreme greed zone of 90, last seen in June 2019 when the world’s most famous digital asset ploughed through all the stops to fall short at USD 14,000.

Not everyone is saying to buy Bitcoin now of course, with crypto influencers like Mike Novogratz saying that we shouldn’t follow our emotions. He warned:

“The hardest thing to do in a bull market is to sit. My pal Paul Jones calls it the ‘pain of the gain.’ This is a $BTC bull market. Your job is to sit on your hands and lock away your phone.”

But can people really withstand the pain of the gain? Only time can tell, of course, but meanwhile, Bitcoin fundamentals appear strong, with Bitcoin network still processing at high hash rates, at the same time easing out the network congestion that last week pushed Bitcoin to the highest fees it had seen in years.

Although mining difficulty witnesses only its second-largest dip in history three days ago, this was just down from last week’s all-time difficulty high and since then, we are witnessing the SHA256 hashrate increasing a lot once more, spiking to 114 EH/s.

Following Tuesday’s difficulty drop, BTC’s hashrate has increased a great deal, spiking to 114 EH/s soon after.

Be safe, trade safe, and hold on to those sats!

 

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Trending Bitcoin News and Market Sentiment, Weekly Edition, 6th November 2020: Bitcoin Poised to Break $16,000 as 2020 Highs Lead to Crypto Buzzing appeared first on BitcoinNews.com.

Place Bets on the Upcoming US Presidential Election on 1xBit

Bitcoin Press Release: With the US presidential election taking place on November 3rd, 2020 industry-leading betting site 1xBit is giving the world the chance to bet on the outcome, and win big. 

November 2nd 2020, Limassol, Cyprus – With the U.S presidential election just around the corner, the pressure is mounting on both candidates, sitting president Donald Trump and former Vice President Joe Biden. 

Americans (and the world) consider this to be a particularly important election which will determine how the country will fare for the next four years in the face of COVID-19, which has already severely affected the U.S economy in this year. 

Some polls have been conducted ahead of the coming election, and some reports say that Biden is ahead of Trump, albeit marginally. For instance, according to a BBC report, Biden scored 51% of the votes in one of the polls, while Trump got 42%. 

However if the 2016 election is any guide, polls must be taken with a pinch of salt, and anything can happen in this race. The two candidates are weighed based on their strengths and weaknesses. Trump is also weighed based on his performance in the last four years.

 

Pros and Cons of the Candidates

For the prospective gambler each candidate can be seen to have their own individual pros and cons. Trump voters would argue that their candidate possesses charisma and strong character, but those against Trump could question his handling of the COVID-19 pandemic and raise the issue of increasing national racial unrest since his appointment in 2016. 

Those looking to bet on Joe Biden could argue that he possesses a vast experience in politics, has integrity, and is more compassionate than his counterpart. On the other hand Trump believers would argue that Biden is questionable with expressing his thoughts with clarity, as seen during the presidential debates. Regardless of political views, both candidates are in with a good chance at victory and this one could go down to the wire. 

 

Ongoing Polls and Forecasts

So far, Biden is maintaining the lead in the national presidential polls, which shows that he holds a slender lead across those who have already voted. Biden is also winning in the battleground states, where a large turnout of early voters was recorded. More than 64 million people have already cast their votes ahead of the election, as they vote in a similar manner across states. Currently Biden looks to emerge as the preferred candidate in the national elections.

 

Bet on Politics with 1xBit

These elections resonated stunningly not only in American society, but also throughout the world.  Measuring the success of a candidate by his popularity in betting is common practice in modern politics, and therefore highly regarded crypto betting platform 1xBit is offering everyone to check out their competitive odds, and take part in this massively important race! 

New users get a welcome bonus of up to 7 BTC on sign-up, (which takes only a few minutes) and use more than 20 cryptocurrencies to bet. Anyone can place bets anonymously without revealing any personal details, and winnings can easily be withdrawn to a personal wallet without paying any fee.

As the U.S presidential election day draws closer, anyone can benefit from betting on the outcome on 1xBit. Several bonuses and incentives now await new and existing gamblers on their candidate pick. 

 

For more information about 1xBit, please visithttps://1xbit.com/

Check out the official 1xBit blog for the latest articleshttps://1xbit.com/blog/

 

Media Contact Details

Contact name: Anastasia Semenova

Email: [email protected]

1xBit is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

The post Place Bets on the Upcoming US Presidential Election on 1xBit appeared first on BitcoinNews.com.

Trending Bitcoin News and Market Sentiment, Weekly Edition October 30th, 2020: Crypto Swings But Bitcoin Above $13,000, More States Adopt Crypto, Blockchain

bitcoin

  • Bitcoin and crypto markets faced a volatile week but Bitcoin manages to stay above USD 13,000
  • Iran and Cambodia make the news as more governments adopt crypto and blockchain

What a week it has been for Bitcoin! After surfing to new highs in price for 2020, Bitcoin almost broke the USD 14,000 resistance but faced at least two sell-off dips that took it temporarily below USD 13,000, before recovering by the weekend’s close to stay alive above USD 13,000.

The rest of crypto has not fared as well, with Ethereum failing to hold levels above USD 400 and continuing most of Friday struggling to stay afloat past USD 390. Nevertheless, even amid Defi slowdown and Bitcoin network reaching its highest level of congestion since 2017, the mood remains buoyant that crypto markets could hold on and prepare for a fresh rally in the closing months of the year.

On the latter fundamentals, the Bitcoin network is currently experiencing high levels of transaction congestion, with the mean fee per transaction right now reaching about USD 11 (just under 0.009 BTC) according to data analytics firm Glassnode. This is an almost five-fold increase over the past two weeks, accompanying a price jump from USD 11,100 to USD 13,900 or thereabouts.

London broker Bequant told CoinDesk:

“Bitcoin mempool is back in focus in the wake of rising transaction volumes, causing congestion in the network and consequently driving fees higher.”

Basically, this just means that because the transaction queue has become so long, people are paying more to miners so that their transactions are prioritized before others, leading to a fee war that forces people to outbid each other in an attempt to get selected to enter the next block found — which is how Bitcoin transactions are confirmed.

Bitcoiners will be quite pleased, however, as the last time this happened was in 2017 when Bitcoin hit its current all-time high close to USD 20,000 and historically, price rallies do lead to network congestion. Miners dropping out of the network are currently to blame, as hashrate has slid over the same period. Over the last week, the 7-day moving average of Bitcoin’s hashrate has lost about 20% of its hashrate or 26 exahashes per second (EH/s) to 120 EH/s.

All the same, more good news all around for crypto and blockchain as the Iranian central bank makes amendments to national law to allow for Bitcoin, as the cash-strapped Central Bank of Iran looks to alternative currencies to help imports.

The Iran Daily, citing The Islamic Republic News Agency (IRNA), reports that the national cabinet has amended recent legislation on digital assets that now makes it legal for cryptocurrency to be used as a payment for import funding. This doesn’t mean a free for all, as it only means that Bitcoin must still be legally mined and can only be exchanged to fund external imports but it has allowed for Bitcoin miners to directly supply the central bank an authorized limit of Bitcoin, based on how much subsidized electricity the miner uses alongside further guidelines supplied by the Iranian Ministry of Energy.

Bitcoin mining is legal as of 2019 but it is heavily regulated in Iran due to the cheap cost of subsidized energy but the same report suggests that Bitcoin could help Iran circumvent sanctions that restrict the country’s access to the US dollar.

In Southeast Asia, Cambodia has also announced the Bakong, which will be its national blockchain-based platform for digital money transactions. According to local media Dap-News, it is “a payment and money transfer service through banks or microfinance institutions” that an initiative of the National Bank of Cambodia has established under a collaboration with several other national entities.

Cambodian financier PRASAC first invested in Bakong last year in October, before the central bank set a launch as a closed circuit enterprise. The report quoted PRASAC executive vice president Sony Say:

“Bakong is a new and modern payment tool that allows customers to make interbank transactions and bill payments easily, quickly, securely and free of charge.”

Mass adoption full steam ahead, it would seem!

 

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Trending Bitcoin News and Market Sentiment, Weekly Edition October 30th, 2020: Crypto Swings But Bitcoin Above $13,000, More States Adopt Crypto, Blockchain appeared first on BitcoinNews.com.

1xBit Launches New Live Halloween Casino Tournament ‘Witching Hour’

30th October 2020, Limassol, Cyprus – Can you hear it? Is that a wolf howling? A witch’s laughter? Oh, it’s an omen that brings fright, fun, and a new terrific tournament, Witching Hour! As the Halloween season approaches, the well-known crypto casino 1xBit brings users a top gambling game to fit the spirit of the season and make Halloween fantasies become a reality.

Be Careful, Dark Forces Are Round the Corner

The witching hour is the time of night when unnatural forces become most powerful, and our world is filled with spirits… Spirits of Gambling! This year’s Halloween will not just be as usual with the new live casino tournament, which is designed for this time when the fans of gambling can do so during the coming Halloween.

This is a game particularly suited for those who are fascinated by Halloween and the creepy and scary feeling that comes with it. Do you want to spend Halloween alone at home without going out and still have the full Halloween experience? This tournament brings all of the above into reality with the creepy feelings of the Witching Hour.

Young, adorable witches wait for the players at the tables from Ezugi, and playing any table game from this provider can bring generous prizes – the winner of the tournament will get 500 mBTC. 

The event starts on October 30, 2020, at 00:00 GMT and will await players with the best rewards and thrilling emotions, so they can enjoy the fun of the season. 

This includes variable amounts of BTC for different places, as follows:

  • 1 place – 500 mBTC;
  • 2 place – 250 mBTC;
  • 3 place – 100 mBTC;
  • 4 place – 50 mBTC;
  • 5-6 places – 20 mBTC;
  • 7-10 places – 15 mBTC.

There are several benefits of taking part in tournaments on 1xBit, the leading crypto casino. First, you get a welcome bonus of up to 7 BTC if you are signing up on the website for the first time. The crypto wallet on your account will support over 25 cryptocurrencies, so you have many options to work with. What’s more? The casino is completely anonymous, which means your identity is not revealed to anyone.

There are over 100 game providers with more than 5,000 slots on 1xBit so that you can play many more games if you wish to get as many rewards as possible with live dealers also available. These are in addition to several other benefits and incentives, which the platform provides for players, such as easy and free withdrawal of rewards.

The Witching Hour is Upon Us 

The Witching Hour live casino tournament is perfect for online gamblers looking to get into the spirit of Halloween, take advantage of a generous 100% welcome bonus, and be in the running for some huge crypto prizes

 

For more information about 1xBit, please visithttps://1xbit.com/

Check out the official 1xBit blog for the latest articleshttps://1xbit.com/blog/

 

Media Contact Details

Contact name: Anastasia Semenova

Email: [email protected]

1xBit is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

The post 1xBit Launches New Live Halloween Casino Tournament ‘Witching Hour’ appeared first on BitcoinNews.com.

Trending Bitcoin News and Market Sentiment, Weekly Edition, 24th October 2020: Bitcoin Extends Rally Above 2020 Highs as PayPal Becomes Latest Crypto Embracer, Bahamas CBDC

bitcoin

  • Bitcoin records a new high above USD 13,000 for the year, stirring hopes of a bullish end to the year
  • PayPal finally allows buying of Bitcoin within its platform, fueling an extended rally for crypto
  • Bahamas launches the first CBDC

What a week it has been! After last week’s stimulus talks and MicroStrategy investment into Bitcoin, yet another old name in money has stepped forward to proclaim its love for Bitcoin in the shape of payment processor PayPal.

For weeks, Bitcoin traders and investors have been so enamored with increasing Bitcoin fundamentals, with adoption in terms of wallet numbers ever on the rise, and hash rate continuing to creep up with all time highs, even as price seemed to be in a sideways motion.

But Monday seemed to have really stirred a beast, with Bitcoin smashin the USD 12,000 levels and not relenting until it stepped up towards and past USD 13,000 on Wednesday. The rest of crypto were not immediately on board, with the likes of ETH actually losing ground on Monday, but by Wednesday had shaken off inhibitions and powered past USD 400 where it hasn’t looked back, and neither has much of the rest of crypto.

Political economists will point to the seemingly unshakeable feeling in the US, where, just weeks away from the next Presidential elections, the Democrats seem to be gaining in power — leading to a lot of sentiment that believes more economic relief is coming in the form fiscal stimulus (read that as money printers go ‘brrr’).

Stock markets in the early week actually did drop off some numbers but Bitcoin moving in the opposite direction also seemed to lend some hope to Bitcon purists that the digital asset had indeed decoupled from traditional markets.

Perhaps what really moved the markets though, was the announcement that UK public listed fintech company Mode had announced a Bitcoin investment — 10% of their total cash, apparently. Their own stocks jumped 9% on the news, but American payment company PayPal took over and hogged the limelight with their own announcement, making good on earlier rumors that it would support trading of crypto on its own platform.

The PayPal announcement was like a shot of adrenaline, pumping Bitcoin prices by 10% in a single day. The prospect of millions of existing users already on PayPal for years all over the world, who will now be able to buy Bitcoin, Ethereum, Litecoin and Bitcoin Cash next year, strangely enough, pushed Bitcoin’s market capitalization to exceed that of PayPal itself!

The bullish news led to Galaxy Digital CEO and multi-millionaire Mike Novogratz gushing all over the news on CNBC Squawk Box. He stated:

“I think that’s, in some ways, the shot heard around the world on Wall Street,” Novogratz said in an Oct. 23 interview about PayPal’s recent news. “PayPal has 346 million accounts,” he said, adding: “They’re the 30th biggest bank in the U.S. in deposits and all of a sudden every financial institution says, ‘Wait a minute, what am I doing?’”

Meanwhile, the talks surround central bank digital currencies (CBDC) has not abated but one small jurisdiction, the Bahamas, has gone on ahead and pushed out its own CBDC. Dubbed the ‘Sand Dollar’, the Central Bank of Bahamas announced that the new currency is now available nationwide. Bearing the motto “inclusive, convenient, secure”, the new project seems to begin with an initial rollout phase that will involve players from the private sector — banks and credit unions preparing for personal and enterprise wallets supporting the Sand Dollar for compliance procedured.

These wallets are said to be mobile-first, and are secured by multi-factor authentication on a smartphone. Well, we wish Bahamas good luck, and at least hope the Sand Dollar won’t go the unfortunate way of Venezuela’s Petro.

 

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Trending Bitcoin News and Market Sentiment, Weekly Edition, 24th October 2020: Bitcoin Extends Rally Above 2020 Highs as PayPal Becomes Latest Crypto Embracer, Bahamas CBDC appeared first on BitcoinNews.com.

Trending Bitcoin News and Market Sentiment, Weekly Edition, 17th October, 2020: $1.7T Global Economy Boost from Blockchain, Nigeria National Adoption, 100 Italian Banks on Blockchain

bitcoin

  • PwC estimates that the blockchain industry will provide a USD 1.7 trillion boost by 2030
  • Nigeria preps move for national blockchain adoption
  • 100 Italian banks are already on blockchain

As Bitcoin and Ether shrug off the early week malaise, and take new aims at making new records after breaking 2-month highs, we see plenty of positive news for the overall blockchain industry that will make proponents smile, and Bitcoin critics wonder if they’re taking 2020 the wrong way.

First, we see a new report from a Big Four auditor, PricewaterhouseCoopers (PwC), who says that blockchain derived economic gains will boost the global economy over the next decade to the tune of USD 1.7 trillion, with the Asian continent enjoying the most economic benefit.

In fact, by 2025, economists at the famed auditing firm believe that a tipping point could be observed by mainstream adoption as blockchain apps contribute to over 1% of the world’s total GDP. China, followed by India and Japan, are also seen as the drivers of mass adoption, with the world’s second largest economy standing to gain a net benefit of USD 440 billion, in front of the US with USd 407 billion.

Europe will generally see the same benefits as Japan and India, with Germany, France and the United Kingdom each set to gain about USD 50 billion.

Product tracking and tracing is where the big bucks are, with just shy of USD 1 trillion set to be generated by that sector alone. Financial services and payments make up USD 433 billion, identity security and credentials make USD 224 billion, contracts and dispute resolution will generate USD 73 billion, while customer engagement and reward programs contribute the remainder of USD 54 billion.

Identify and credential management will benefit three sectors the most with some USD 574 billion more of value generated in public administration, education and health care. According to global blockchain leader at PwC Steve Davies, the global pandemic has, in fact, accelerated adoption:

“Serious activity around blockchain is cutting through every industry across the globe right now.”

While the big economies have been named, developing ones are also looking to prep themselves for blockchain adoption. Nigeria, for example, is reportedly on the bring of putting forth a “Digital Nigeria” plan that will see a nationwide adoption of blockchain and crypto.

A draft of the strategy framework was published by Technology Times, which names the nation’s Federatl Ministry of Communications and Digital Economy as a partner with the National Information Technology Development Agency (NITDA) in this national blockchain adoption endeavor. A blockchain engineer who helped work on the draft has apparently confirmed this ‘National Blockchain Adoption Strategy’ which is an extension of current President Muhammadu Buhari’s vision of the diversification of the Nigerian economy. It is a stark contrast to the existing laws in Nigeria, which has banned the use of digital assets as money.

The political situation in Nigeria is on a knife’s edge right now, with protests ongoing against police brutality, with many calling for the dissolution of a special anti-robbery squad dubbed SARS. Buhari has been criticized for renaming SARS, instead of disbanding it, and protesting groups have been said to use Bitcoin to raise funds in an attempt to circumvent bans on these activities.

Meanwhile, banks, normally seen as the traditional foes of Bitcoin, seem to be getting on with the blockchain program, at least in Italy. There, 42 new Italian banks have joined the national banking blockchain network Spunta, bringing the total to 100 banks now using R3’s Corda solution for blockchain banking.

The Italian Banking Association (ABI) said early this week that this marked a key milestone in the Spunta group of banks who sought to increase interbank data transfer and settlement speeds in March 2020. The move had seen 55 banks joining in just two months, and now Spunta has already processed 204 million transactions, on track to surpass 350 financial transactions by the end of 2020.

Currently, interbank reconciliation is a pain as they all have to agree with each other on exactly how much every bank owes others. The process normally takes weeks to complete as the data is actually still stored on very old systems that takes literally days to spit out. But with a blockchain-based verified interbank transfer log such as that used by Spunta not dissimilar to that of Bitcoin, the same processing task can be completed within a day.

Blockchain or Bitcoin, it’s going to be one big exciting ride.

 

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Unsplash

The post Trending Bitcoin News and Market Sentiment, Weekly Edition, 17th October, 2020: $1.7T Global Economy Boost from Blockchain, Nigeria National Adoption, 100 Italian Banks on Blockchain appeared first on BitcoinNews.com.

Trending Bitcoin News and Market Sentiment, Weekly Edition October 10th, 2020: Bitcoin Brushes Past $11,000 as Twitter CEO’s $50M Bitcoin Buy Follows Positive Comments on Blockchain

bitcoin

  • Bitcoin pushes past USD 11,000 on the back of comments made by Jack Dorsey about decentralizing Twitter
  • Dorsey’s Square also purchased USD 50 million of Bitcoin, the latest of corporate Bitcoin buys.

After a slump in the early week, Bitcoin now trades into the weekend having finally broken past USD 11,000 again.

Bitcoin markets took a slight dip earlier in the week when Donald Trump made an announcement that said he would delay further stimulus measures for the United States until after the November elections, dampening spirits and leading to stock markets sell offs, that then translated into a dumping on crypto assets, as Ethereum took a dive down to below USD 330 and Bitcoin tested support levels below USD 10,500.

However, Twitter and Square CEO Jack Dorsey brought back the entire crypto market into a rally yesterday when he made a USD 50 million investment into Bitcoin, as futures demands also took a big uptake.

Dorsey is a known Bitcoiner of course, so his move will not have come as a surprise to many, given that his own Square app is one of the most popular way for Americans to get into crypto and Bitcoin. However, the certainty with which he plumped USD 50 million down will surely have raised a lot of hopes and expectations from short and medium term speculators that there is more yet to come, and that even big money had hardly lost their interest in cryptocurrency.

Further, it was only last week where Dorsey was at the Oslo Freedom Forum 2020 when he insisted that Bitcoin and blockchain will help to shape the future of Twitter through a decentralized internet standard. He said:

“A lot of our value in the past was around content hosting. So we would host the tweets, the images, and videos… Blockchain and bitcoin point to a future, and point to a world, where content exists forever, where it’s permanent, where it doesn’t go away, where it exists forever on every single node that’s connected to it.”

He has already put together a team that will hire an initial five members to work as BlueSky, building such a protocol to get Twitter to transition to a decentralized platform.

Commentators viewing this “trusted system in a distrusted environment” will remember that it was only three months ago when a massive hack occurred on Twitter’s platform, in which hackers managed to hijack dozens of high-profile accounts in an effort to scam followers. Dorsey admitted:

“I fundamentally believe that security is something that can never be perfected. It’s a constant race. It’s a constant push to be ten steps ahead of hackers.”

Most of the internet is already on his side, and his Twitter accounts are filled with hundreds of responses, the majority of which are positive. It appears that he will have many who will support his revolutionary conceptualization of open and decentralized social media — but whether or not this will seek to fully transform Twitter as a mere content hoster to that of open access proponent remains to be seen.

But sentiment is certainly on the rise after Dorsey’s big move on Bitcoin. Binance CEO Changpeng Zhao himself now put a teasing question out asking “Who’s going to be the 3rd public company to hold #bitcoin in treasury?”

Public comments have thrown out all kinds of names from Tesla to Berkshire Hathaway (belonging to anti-Bitcoiner Warren Buffett) but he followed on later than assuming Dorsey had to also get buy in from his board, suggested that the Twitter CEO would have had to educate them first.

Quantum Economics founder Mati Greenspan wrote to his subscribers yesterday: “It’s a bit surreal to see gigantic corporate entities now going knee-deep in bitcoin.” 

Apparently, a spreadsheet has now emerged online at BitcoinTreasuries that looks like it will help to track purchases of Bitcoin by corporations. MicroStrategy is top dog right now with over 38,000 Bitcoins worth some USD 425 million but Cypherpunk Holdings seems to be not far behind in fifth place with 263 Bitcoins worth USD 2.7 million.

Will this trigger a wave of corporate Bitcoin purchases? Time will certainly tell.

 

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Trending Bitcoin News and Market Sentiment, Weekly Edition October 10th, 2020: Bitcoin Brushes Past $11,000 as Twitter CEO’s $50M Bitcoin Buy Follows Positive Comments on Blockchain appeared first on BitcoinNews.com.

Trending Bitcoin News and Market Sentiment, Weekly Edition, 2nd October, 2020: US Regulators Win String of Victories, Bitcoin’s Longest Stay Above $10,000

bitcoin

  • Bitcoin prices take a slight hit after a string of SEC and US regulatory body victories against crypto this week, but losses are limited
  • Bitcoin records its longest streak staying above USD 10,000 as the psychological support level holds

Bitcoin took a slight shudder today to drop some percentage points, trading as low as USD 10,300 on Friday before settling higher around USD 10,500 by North American waking time today, and most analysts will blame a series of perceived victories against crypto companies by US regulators.

It all started off when the US Securities and Exchange Commission (SEC) found itself on the winning side against tech company Kik when a US court ruled in favor of the regulator’s motion for summary judgment in its now three-year legal dispute against Kik and its USD 100 million initial coin offering (ICO).

The opinion by US Judge Hellerstein noted that “[t]he US Securities and Exchange Commission (“SEC” or “Plaintiff’) filed this action against Kik Interactive Inc. (“Kik” or “Defendant”), and alleges that Kik’s unregistered offering of digital tokens was in violation of Section 5 of the Securities Act. The parties cross-moved for summary judgment. He went on to say:

“As detailed further herein, I hold that undisputed facts show Kik offered and sold securities without a registration statement or exemption from registration, in violation of Section 5. Therefore, the SEC’s motion for summary judgment is granted, and Kik’s motion for summary judgment is denied.”

Both parties to the dispute had in July submitted their arguments to the court for their respective motions for summary judgment during a virtual court hearing. The SEC had actually sued Kik in July 2019, alleging that the crypto firm “sold the tokens to U.S. investors without registering their offer and sale as required by the US securities laws”, a claim that Kik fought back.

Now the ruling has been made, both parties are now to submit a joint proposal for “judgment for injunctive and monetary relief” by 20 October 2020. Failing that, they are asked to “note their differences in a single document, supported by separate statements in a single letter, to be submitted by the same date”.

And yesterday, the world’s largest Bitcoin derivatives platform, BitMex, was also charged by the Federal authorities for allegedly failing to prevent money laundering and offering American customers illicit derivative trading services for crypto.

CEO Arthur Hayes, along with Ben Delo, and Samuel Reed, plus its first employee Gregory Dwyer, were charged with violating the Bank Secrecy Act and conspiracy to violate the act by “willfully failing to establish, implement, and maintain an adequate anti-money laundering (“AML”) program”. According to the statement by the United States Office of Southern District of New York, they have arrested Reed while Hayes, Delo and Dwyer remain at large. Each charge carries a maximum penalty of five years in prison.

Hayes, a resident of Hong Kong but born in the US, was an equities and derivatives trader for Citi and Deutsche Bank prior to operating BitMex in 2014. Acting Manhattan US Attorney Audrey Strauss said:

“…these defendants flouted that obligation and undertook to operate a purportedly ‘off-shore’ crypto exchange while willfully failing to implement and maintain even basic anti-money laundering policies.”

FBI Assistant Director William F Sweeney Jr added:

“One defendant went as far as to brag the company incorporated in a jurisdiction outside the US because bribing regulators in that jurisdiction cost just ‘a coconut’.”

Not all is bad news, though, as Bitcoin has not actually lost a lot after both items of news. In fact, it is currently at a record-setting longest streak in terms of days spent above the psychological price barrier of USD 10,000.

As of today, Bitcoin has now spent 68 consecutive days closing above USD 10,000 when using data aggregated by Messari. This does not actually mean it never fell below that price, as it appeared to have done briefly for 2 days in September, but it has always managed to claw back gains and close above USD 10,000.

The record was actually broken on Sunday, beating the old record of 62 consecutive days that ran from 1 December 2017 during the all-time high reign of Bitcoin. Many traders will see this recent development as a sign of strength, and the ability of Bitcoin to stay in a range between USD 10,000 and USD 12,500 over these two months will only instill more confidence in the narrative that Bitcoin will lose its volatility factor soon.

 

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Trending Bitcoin News and Market Sentiment, Weekly Edition, 2nd October, 2020: US Regulators Win String of Victories, Bitcoin’s Longest Stay Above $10,000 appeared first on BitcoinNews.com.

Cryptocurrency Portfolio Manager from CryptoView | One Interface, all Major Exchanges

28th September 2020, Sofia, Bulgaria– As the world of cryptocurrencies evolves at a rapid pace, so does the sector of cryptocurrency portfolio management services. The need for secure and easy-to-use cryptocurrency trading tools gave birth to CryptoView – a cryptocurrency portfolio manager and tracker, designed to be an all-in-one solution for managing multiple exchange accounts and wallets.

CryptoView enables users to quickly jump from the hassle of switching between several portfolios, exchanges or wallets to the reliability of using a single interface to track all balances, and simultaneously manage trades on multiple exchanges. 

Apart from being an advanced crypto portfolio tracker, CryptoView can also act as a fully-functional trading platform, as the portfolio management software is connected to the world’s leading exchanges like Binance, Bitfinex, Bitmex, Bitstamp, Bittrex, Cexio, Coinbase, CoinbasePro, CoinEx, HitBtc, Huobi, Kraken, KuCoin, OKEx, and Poloniex

Multi-charting interface

One of the core strengths of CryptoView is the fully-customizable user interface, which allows users to reorder almost every aspect of their workspace. The team behind CryptoView has developed one of the most advanced multi-charting interfaces, capable of displaying up to 9 charts per monitor, on up to 5 monitors. There are more than 25 grid configurations and 5 screen presets

Those who use multi-monitor setups can use the “screens” option to save a preset configuration for each monitor with a specific grid layout and trading pairs. Each preset can be loaded on a specific monitor with just one click, without having to set your workspace every time.  

CryptoView has integrated TradingView™ charts which offer 85+ trading tools and over 75 drawing tools for both novice and advanced traders. 

Portfolio Balance Manager

The crypto portfolio manager gives users a detailed breakdown of asset balances aggregated from all connected exchanges, wallets, and even cold storage. The balance table also gives additional information about current rates, price changes, and trends for each cryptocurrency. Cold storage entries are inserted manually by creating an entry of the balance in each cold wallet.

Performance Analytics & Multi-Trading

Another great tool is the CryptoView portfolio histogram which shows portfolio statistics. Each day CryptoView takes a snapshot of all portfolio holdings and plots them into a detailed histogram. There are also asset/portfolio distribution pie charts. Those who prefer to work with raw data can export to both XML and CSV file formats.

The all-in-one multi-exchange trading platform gives users the ability to place orders such as ‘limit, ’“market”, ‘stop-limit’ and ‘stop-market’ simultaneously on each connected exchange. In addition, each trading pair has a trading history, orderbook, market depth and last trades panels.

Data Integrations

Among the various crypto trading tools integrated in the platform, there is a built-in multi-source crypto news aggregator (20+ top news sources), events calendar feed from CoinMarketCal, direct data feed from CoinMarketCap and other tools such as SMS price alerts and automatic email balance reports.  

Easy Signup and Subscription

Sign-up takes no longer than a couple of minutes and users are given a 30-day free fully-functional trial. Subscription plans range from $29 to $21/month depending on the subscription package. 

Fund Managers 

The all-in-one cryptocurrency portfolio manager is also well suited for fund managers who can take advantage of the ‘multi-portfolio’ and ‘portfolio sharing’ functions. 

Each account can create and manage up to 5 separate crypto portfolios and connect different exchanges or wallets to each one. This allows users to either split their portfolio into separate smaller portfolios or manage separate portfolios for clients or friends. 

Users are also able to share the balance table and performance histogram for each portfolio with a “view only” link. This allows clients or partners to monitor the performance of a shared portfolio without being able to directly interact and use the account. 

Security

Security at CryptoView is taken seriously, as the platform runs on a cloud-based architecture with encrypted connections, strong API key encryption, DoS protection, 2FA (Two Factor Authentication) as well as all industry general safety standards. To protect users from illicit activities, withdrawal or any fund transfers are limited only to the exchange’s interface.

Affiliate and Referral programs

Apart from trading and portfolio management, CryptoView also offers an affiliate program, from which you can earn $20 in Bitcoin for every paid subscriber that comes through your affiliate link. There is also a referral program which gives 2 free months for every new referred customer who purchased a subscription after the free trial period. 

CryptoView, One Interface, No Limitations

CryptoView is perfectly suited for both novice and advanced traders, providing a strong list of the best cryptocurrency trading tools required to efficiently manage a crypto portfolio. CryptoView takes advantage of the booming local IT sector, which produces some of the best developers and designers in Europe.

 

For more information about CryptoView, please visithttps://www.cryptoview.com/

Join the affiliate program and start earning todayhttps://www.cryptoview.com/affiliate/

Follow CryptoView on Twitterhttps://twitter.com/CryptoViewCom

Find CryptoView on Facebookhttps://www.facebook.com/CryptoViewCom/

 

Media Contact Details

Contact name: CryptoView Marketing Team

Email: [email protected]

 

CryptoView is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews


The post Cryptocurrency Portfolio Manager from CryptoView | One Interface, all Major Exchanges appeared first on BitcoinNews.com.

Trending Bitcoin News and Market Sentiment, Weekly Edition, 26th September 2020: Bitcoin Traditional Asset Decoupling as MicroStrategy Adopts Bitcoin Standard,

Bitcoin

  • Bitcoin is about to stop its pattern of correlation with traditional assets after a three year crypto winter, according to some analysts.
  • MicroStrategy’s USD 425 million Bitcoin purchase isn’t a hedge. It’s a bet on the Bitcoin standard.

Bitcoin and crypto finished the week on a high, after initially struggling to make any headway since the last weekend but finally finishing on Friday about 5% up over the week, despite earlier worries of increased volatility in the markets with a record-setting day for Bitcoin options expiry.

And now, famed crypto statistician Willy Woo has boldly declared that Bitcoin as its own class of asset may very well be on the verge of decoupling from traditional ones. This, he says, is because of the breakdown of a key gold relationship out of a long-term downtrend perceived over the last three years.

He also believes that other strong fundamentals back this up, for example, the fact that user adoption in Bitcoin itself has also broken all time highs. And in this sense, Woo believes that Bitcoin has proven itself, much like a successful startup company would, in attracting new interest and then forging its own future path later on. He uses the classic S-curve pattern that shows how startups mainly grow, and that this would truly appeal to investors looking to further hedge their portfolios against other assets. He wrote:

“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.”

He now claims that Bitcoin’s correlation with traditional assets on a macro level will very soon be upon us, and, there are several other key Bitcoin fundamentals that are also solidifying to support this theory. For example, if we look at network hash rate and difficulty, they are both currently at record levels, further proving just how competitive Bitcoin has been and how miners continue to see long-term appreciation gains.

And so far, Woo has been right on the nail with how Bitcoin is breaking away from traditional assets. If we take a look at the US dollar currency index (DXY), we can find further evidence on charts that this decoupling could be underway as we speak.

This is happening now in Bitcoin’s price ratio versus gold, which has always been in a downtrend since the all-time highs achieved December 2017, almost three years ago. And two months ago in July, this broke to the upside when the pair reclaimed USD 12,000. Further stress tests of this trendline so far look good and seem to confirm this new support, resulting to an upside bounce.

Crypto hedge fund Ikigai’s Travis Kling has also been another voice to add to this observation, and he believes that the weekly chart performance over the past three years is definitely one to watch out for.

Meanwhile, MicroStrategy’s wave-making moves in the industry continues to spread chatter all over the Internet, with the Bitcoin adopter concluding that Bitcoin is the most non-toxic currency and that it genuinely wanted to adopt a “Bitcoin standard”. CEO Michael Saylor said this during a spot on RT host Max Keiser’s Keiser Report TV show on Thursday.

MicroStrategy made a lot of heads turn when it decided this year to buy USD 425 million worth of Bitcoin but the company insists that the purchase had nothing to do with it hedging, and instead is a display of faith that they’re going all in on Bitcoin. It claims that there is a currency war going on right now and they were simply picking the least toxic one:

“What we have is a war on currency, and not a war to make the US currency weaker than the euro; the war on currency is anybody holding currency is getting attacked. And so now we’re starting to realize that currency is being made toxic by the political… financial policies of the central banks, you kind of have to run away from that currency to something that’s not toxic, and I think that Bitcoin is that non-toxic currency.”

The MicroStrategy CEO also now says that swapping cash for Bitcoin is only logical since assets that were strong in scarcity were actually inflating by about 25% this year, and will continue to do so about 10% every year after. Betting on cash now is likened to betting on a melting ice cube.

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Trending Bitcoin News and Market Sentiment, Weekly Edition, 26th September 2020: Bitcoin Traditional Asset Decoupling as MicroStrategy Adopts Bitcoin Standard, appeared first on BitcoinNews.com.