Crypto News

July 2020

Bitcoin Held by Exchanges Drops to 2019 Bull-Run Levels, Demand Rising

2020-07-30T09:33:00+00:00 July 30th, 2020|Crypto News|

As July comes to a close, the amount of Bitcoin (BTC) held by major cryptocurrency exchanges has reached its lowest level since late May 2019. At that time, Bitcoin’s price was around $8,000 before continuing toward its 2019 high of $12,967 on July 11, 2019. Roughly 10% of Bitcoin held by exchangesThe Bitcoin balance held by major exchanges has been dropping significantly since mid-March 2020 following [...]

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Can XRP Price Follow Bitcoin and Hit $0.30? Watch These Key Levels

2020-07-29T15:33:00+00:00 July 29th, 2020|Crypto News|

Altcoins got crushed in their respective BTC pairs as Bitcoin (BTC) price decided to break out of the two-month-old range and reach as high as $11,400.However, some altcoins did relatively well and a few top-10 cryptocurrencies showed strength while the price of Bitcoin was climbing. These included EOS (EOS), Litecoin (LTC) as well as XRP (XRP), which also showed strength by reaching a price level [...]

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Bulls Control Bitcoin Price Even as Funding Rates Reach Record Highs

2020-07-28T22:16:00+00:00 July 28th, 2020|Crypto News|

Bitcoin (BTC) price finally woke up and surged to a new 2020 high but as the markets surged past $10,000, some traders seem to have opened excessively leveraged long positions. This effect became more noticeable as the funding rate for perpetual contracts reached the second-highest level this year at 12.4% per month.Funding alone shouldn’t be considered a red flag, especially in short-term periods. The problem lies [...]

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The Becoming of Bitcoin: A Narrative Untainted by Illusions of Truth

2020-07-28T14:37:50+00:00 July 28th, 2020|Crypto News|

Understanding Bitcoin as something static — as some ‘thing’ with a solidified identity — is not understanding Bitcoin at all. Bitcoin is not being. Bitcoin is becoming. The perpetuation of its identity is not terminal but rather instrumental to something else. Bitcoin maintains identity so that it can serve its meaning. And, like identity, meaning is malleable and exists only in the hivemind that projects [...]

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TD9 and Exchange Inflows: Reasons for Caution as Bitcoin Hits $10,440

2020-07-27T16:05:00+00:00 July 27th, 2020|Crypto News|

The price of Bitcoin hit $10,463 on BitMEX, slightly below the previous peak in June. But two indicators are signaling a BTC cool-off: TD9 and exchange inflows.The price of Bitcoin tests a crucial resistance level. Source: Raoul PalThe TD9 is a trend-reversal indicator that is a part of the TD sequential system. It typically indicates if a rally or a correction is over-extended.Similarly, exchange inflows, [...]

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An Investment in Knowledge Pays the Best Interest: The Parlous State of Financial Education

2020-07-27T14:55:52+00:00 July 27th, 2020|Crypto News|

They say that education prepares you for later life. For many sleep-deprived teenagers staggering through the corridors on a Monday morning, this is the sole motivation to learn — the hope that upon graduation, they will be equipped with the tools and wisdom necessary to navigate the intimidating minefield of adulthood. So it is expected that the education system, from the work of individual teachers [...]

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With $10K Near, Is Bitcoin Price Ready for a Big Breakout Next Week?

2020-07-25T16:34:00+00:00 July 25th, 2020|Crypto News|

The price of Bitcoin (BTC) held the crucial support level of $9,000, after which a rally to $9,600 occurred, as anticipated in last week’s technical analysis. Nevertheless, the overall market trend for BTC price has not broken out of its range since the halving in May.The support area is $8,800-9,000, while the resistance can be found between $10,100-10,300. The volatility and volume have been decreasing [...]

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Crypto Exchange Data Shows Traders Long After Bitcoin Price Breaks $9.6K

2020-07-24T22:36:00+00:00 July 24th, 2020|Crypto News|

There are few indicators capable of accurately detecting professional traders’ sentiment on Bitcoin (BTC). To ascertain whether or not market participants are positioned in a bullish or bearish manner, analysts usually rely on technical analysis and derivatives markets, although those usually mix retail flow.  More recently some exchanges created internal metrics exclusively measuring top traders positions. Looking at exchange-provided data highlighting traders’ long-to-short positioning, one can [...]

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6 Questions for Hugo Renaudin of LGO

2020-07-24T15:18:38+00:00 July 24th, 2020|Crypto News|

Each week we ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! This week our 6 Questions go to Hugo Renaudin, CEO and co-founder at LGO Group. LGO is designed to be a fair and transparent digital asset exchange for institutional investors. Prior to this, [...]

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Ethereum Options Traders Jump the Gun as ETH Price Soars to $280

2020-07-23T22:51:00+00:00 July 23rd, 2020|Crypto News|

Since the start of the week Ether (ETH) has gained more than 17% and the gains appear to be connected to increasing stablecoin use and the rise of DeFi applications. As reported by Cointelegraph, Ethereum network usage surpassed Bitcoin’s, doubling the volume settled over the entirety of 2019.Another possibly bullish factor in the background is the Ethereum 2.0 final testnet scheduled for August 4. This appears [...]

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Journeys in Blockchain: Charlie Lee of the Litecoin Foundation

2020-07-23T15:51:35+00:00 July 23rd, 2020|Crypto News|

“It was kind of crazy to leave Google.” Charlie Lee was a software engineer for YouTube, which had become part of the world’s dominant technology company. He loved the start-up feel. “You get to work on really cool, new stuff, except that it’s a start-up that’s guaranteed to succeed.” Anything Google launches, he explains, gets millions of users on day one. The Google campus was [...]

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Is Bitcoin Price Really Influenced by the Grayscale GBTC Premium?

2020-07-22T21:02:00+00:00 July 22nd, 2020|Crypto News|

Recently the Grayscale Bitcoin Trust Fund (GBTC) premium to net asset value (NAV) reached its lowest level since November 2018. This premium shows that traders are paying more for GBTC shares than the underlying Bitcoin (BTC) quantity held by the fund.This difference is caused mostly due to retail investors inability to purchase shares directly from Grayscale Investments, whose funds are aimed exclusively for accredited investors.Currently, [...]

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Bitcoin Volatility Hits 2018 Lows but Is a Repeat 42% Drop Possible?

2020-07-21T16:12:00+00:00 July 21st, 2020|Crypto News|

At the start of this week, Bitcoin’s (BTC) volatility, or the average daily oscillation, dropped to its lowest level since November 2018 (when the infamous $6,000 support finally broke).Prior to today’s mild breakout to $9,437, the last significant move above 1% was on July 9 when the price dropped 2.1%. Generally, Bitcoin price has been trading in a tightening range for the past month so [...]

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Aligned Incentives: Accelerating Passive Crypto Adoption

2020-07-21T15:09:43+00:00 July 21st, 2020|Crypto News|

Ask any politician, parent, or social scientist: getting people to change their behavior is hard. The default setting is business as usual, carry on doing things the way we’ve always done them. And changing that takes directional applied effort — Newton wasn’t wrong. The more entrenched the original behavior, the more difficult it is to shift people out of it. And it can take a [...]

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Bitcoin Price Holds Key Support and Is on the Verge of Testing $10,000

2020-07-21T13:57:00+00:00 July 21st, 2020|Crypto News|

Recently, the price of Bitcoin (BTC) has been showing virtually zero volatility. This volatility decreased particularly as of late while Bitcoin was resting on the crucial support level of $9,000.But on July 21 Bitcoin finally made a sudden move, as expected in the latest analysis, and the price surged from $9,100 to $9,400. So is volatility back or is this just nothing more than a [...]

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Bitcoin Price Predictions by Top Analysts Are Usually Wrong — Here’s Why

2020-07-19T20:04:00+00:00 July 19th, 2020|Crypto News|

Since Bitcoin (BTC) price rallied above $19,000 in 2017, crypto analysts have issued an amazingly wide range of price predictions on the date and value of the next all-time high or low. Sometimes these predictions are rooted in deep fundamental and technical analysis, whereas other times they are simply nothing more than off-the-cuff estimates issued at whim. Options markets provide useful insights into traders' expectations, including mathematical [...]

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Will Ether Price Hit $400 if DeFi Keeps Eating Bitcoin’s Lunch?

2020-07-19T12:16:00+00:00 July 19th, 2020|Crypto News|

Not a day goes by without someone shilling something related to Decentralized Finance (DeFi). It’s being touted as being bigger than the 2017 altcoin boom, and when you look at things like the monstrous Tether market cap, the recent surge in the price of Chainlink as well as DeFi platform Celsius recently exceeding $1 billion in crypto deposits, it's clear that these are well-founded claims.  However, [...]

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Bitcoin Price Charts Suggest $9K Deadlock May Finally End Next Week

2020-07-18T15:57:00+00:00 July 18th, 2020|Crypto News|

The price of Bitcoin (BTC) has been continuing the previous week’s weakness as the support of $9,000 has been tested many times. However, the market itself is not acting bearish because altcoins such as DOGE, for example, are surging left and right. Is the market ready for a momentum shift and a big volatile move by BTC, the top-ranked cryptocurrency by market capitalization?  Crypto market daily [...]

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BTC Options Traders Are Not Betting on a Short-Term Bitcoin Price Drop

2020-07-18T00:44:00+00:00 July 18th, 2020|Crypto News|

Bitcoin’s (BTC) consistent failure to break the $9,400 level over the past three weeks has led to some analysts becoming skeptical about the chance of a positive breakout. Although the $9,000 support has been holding strong for the past 50 days, any slightly negative indicator tends to get more attention from media and pundits. Recently, crypto media has focused on Bitcoin’s 25 day skew as proof that [...]

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Forced Creativity: Why Bitcoin Thrives in Former Socialist States

2020-07-15T16:39:37+00:00 July 15th, 2020|Crypto News|

Nestled between the Julian Alps and the Adriatic Sea, in a beautiful corner of Europe often ignored by international visitors who flock to nearby Veneto or the Dalmatian Coast, is Slovenia – a nation that gained independence from the former Yugoslavia in 1991.As one of those travelers who was flocking to Venice, I accidentally stumbled into Slovenia several years ago only as a consequence of [...]

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Is Chainlink (LINK) a Bubble? On-Chain Data and DeFi Suggest Otherwise

2020-07-15T00:00:00+00:00 July 15th, 2020|Crypto News|

On July 13 Chainlink (LINK) rallied more than 34% to reach a new all-time high at $8.48. Since then the price corrected back to the $7 range but at the time of writing the altcoin is making a renewed attempt at taking out the recent all-time high.LINK has rallied 167% in 2020 and remains one of the top performers in the crypto market but this [...]

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Binance Coin Gains 17% on Bitcoin in July but Can ‘IEO Season’ Happen?

2020-07-14T17:40:00+00:00 July 14th, 2020|Crypto News|

As the price of Bitcoin (BTC) has been slowly consolidating over the past few months, altcoins have been taking the spotlight. Recently, massive moves were made by Chainlink (LINK), Zilliqa (ZIL) and Elrond (ERD) and that’s just naming a few of the more popular altcoins.The latter of the three is an IEO (Initial Exchange Offering), meaning, investors’ eyes are automatically focused on Binance Coin (BNB), [...]

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As Money Printer Goes Brrrrr, Wall St Loses Its Fear of Bitcoin

2020-07-14T15:19:30+00:00 July 14th, 2020|Crypto News|

This year will go down in infamy as one of the worst in living memory, but Wall Street veteran Jenny Q Ta says there’s been at least one bright spot — 2020 has marked a big shift in attitudes towards cryptocurrency from the Wall St. participants who once eyed the asset class with distrust.The year began with Australia burning down, and moved into a worldwide [...]

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Data Shows the ‘Cheaper Altcoins Make Higher Returns’ Myth Is Flawed

2020-07-13T20:55:00+00:00 July 13th, 2020|Crypto News|

For many investors crypto trading remains a rags-to-riches affair where inexperienced investors hope to strike it rich by buying the cheapest priced altcoins like many novice traders did in 2017.Currently, the majority of traders do not expect Bitcoin (BTC) to pump 50% or more in a single week as $18,400 seems rather infeasible. On the other hand, many of these same investors are willing to [...]

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Chainlink (LINK) Becomes the ‘Tesla’ of Cryptocurrency — What’s Next?

2020-07-13T16:19:00+00:00 July 13th, 2020|Crypto News|

As Bitcoin's (BTC) price continues to trade in a tightening range, the altcoin market has been pushing higher each week, and the most recent surge has come from Chainlink (LINK).After breaking above the $5 level, LINK's price surged nearly 100% in a matter of days and ended by making a new all-time high at $8.40. Through this massive push, LINK surpassed EOS and Crypto.com (CRO) to [...]

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