Why Bitcoin Must Meet These Conditions If It Wants To Stay Above $20K
Bitcoin managed to break above the resistance level above $21,000 and seems poised for further gains. The cryptocurrency records its first week in the green after relentless selling pressure pushed it to a multi-year low of around $17,000. Related Reading | Why Weakening Bearish Bitcoin Momentum Could Give Bulls The Upper Hand At the time of writing, Bitcoin (BTC) trades at $21,700 with a 5% and 12% profit in the last 24 hours and 7 days respectively. Data from Material Indicators (MI) shows an increase in bid orders for BTC’s price as it moves to $22,000. The cryptocurrency records....
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Buried beneath the myriad of indistinguishable pump-and-dump altcoins, every now and then a cryptocurrency is born that truly revolutionizes the field. While this doesn't necessarily obsolete Bitcoin-the protocol can be upgraded at any time-it's important to examine these new coins in order to keep up the pace of innovation. Take Gridcoin, for example. Some background: one of the primary arguments against Bitcoin has been the wastefulness of its mining network, which consumes massive amounts of electricity. Instead of crunching arbitrary numbers, many in the community have hypothesized....
Bitcoin price is undergoing low trading volatility conditions, as investors are holding out for top-tier market catalysts this week. The moving averages are oscillating so the consolidation could carry on for the time being. A break past the $420 level could generate enough bullish momentum for a test of the channel resistance at $430. On the other hand, if the $420 area keeps gains in check, another test of support around $410-415 could take place. RSI is treading sideways, also suggesting that consolidation could stay in play. Stochastic is on the move up, which means that buyers are in....
Bitcoin proponent and Miami Mayor Francis Suarez declared his White House candidacy with conditions, vowing to exit if he failed to meet GOP thresholds. Although he asserted qualification, he was absent from the Milwaukee debate. The question remains: Will Suarez persist with his low-support campaign? On Tuesday, the public got an answer: The commander-in-chief wannabe […]
A new regulatory overhaul could put 40 out of 60 exchanges out of business in South Korea after the firms are expected to fail to meet the conditions that are being proposed by the Financial Services Commission (FSC). This action might also affect holders of locally used “kimchi” coins, that won’t be able to trade them for fiat in other exchanges. This could bring losses of more than $2.6 billion.
South Korea Exchange Options to Reduce Drastically
A regulatory overhaul might reduce drastically the number of exchanges operation in South Korea. According to FT,....
Bitcoin has been classified as a commodity in Finland after the Scandinavian country's central bank declared that it did not meet the definition of a currency. The Bank of Finland concluded that bitcoin simply doesn't meet the legal conditions required to be considered a form of electronic payment, either. Paeivi Heikkinen, head of oversight at the bank, told Bloomberg that bitcoin was more comparable to a commodity at this point. "Considering the definition of an official currency as set out in law, it's not that. It's also not a payment instrument, because the law stipulates that a....