Bitcoin Overbought Above $12K But Analysts Understate Drop Fears

Bitcoin rose above $12,000 on Wednesday for the first time since August 2020 but signaled an imminent price correction as it entered a so-called “overbought” area. The readings on Bitcoin’s 14-day Relative Strength Index pushed above 70, a level above which an asset’s bullish trend is considered overstretched. While that does not signify a price crash, it certainly indicates that the crypto may undergo consolidation or a minor retracement at best. The last three RSI […]

Charted: Cardano (ADA) Needs To Clear $0.11 For Hopes of a Fresh Rally

Cardano’s price is holding the $0.1000 support level and recovering higher. However, ADA must surpass $0.1085 and $0.1100 to start a fresh rally in the near term. ADA is facing a strong resistance near $0.1065 and $0.1085 against the US dollar. The price is trading nicely above the $0.1000 support and the 100 simple moving […]

BlockShow returns as partner to Singapore central bank’s fintech event

BlockShow has partnered with the Monetary Authority of Singapore to curate blockchain discussions for its five-day fintech conference. BlockShow, one of the largest blockchain events in the blockchain and crypto industry, will curate discussions around blockchain and cryptocurrency for a five-day online event hosted by the Monetary Authority of Singapore. The event runs from Dec. 7–12 and the attendees will have 24-hour online access to the conferences.As a “Knowledge Partner” of the Singapore FinTech Festival (SFF) 2020, BlockShow will bring some of the best blockchain leaders to discuss....

17M Chinese tourists verify health using blockchain to visit Macau

Interoperability between Macau’s blockchain-powered medical data system and mainland Chinese health codes allowed tourism between the jurisdictions to recommence. Chinese non-profit blockchain consortium FISCO BCOS, reports that blockchain-based health records have successfully enabled China to resume mainland tourism to Macau.From May, Macau’s blockchain-powered medical data system has recognized the ID codes of the Guangdong health system of the mainland, allowing mainland Chinese tourists to verify their health status using the DLT-powered system when entering the autonomous region.To....

TA: Ethereum Prints Bullish Technical Pattern, Why It Could Rally Past $385

Ethereum is gaining bullish momentum above $375 against the US Dollar. ETH price is showing positive signs and it might even climb above the $385 resistance. Ethereum started a fresh upward move after forming a support base near $368. The price is now trading well above the $375 level and the 100 hourly simple moving […]

Bitcoin Crosses $12K as Pelosi and Mnuchin Near Stimulus Deal

Bitcoin rose on renewed optimism for the second coronavirus stimulus package, while the US dollar plunged. House Speaker Nanci Pelosi said a bill for the compromised aid is on the way after confirming a fruitful, 45-minute telephonic conversation with Treasury Secretary Steven Mnuchin. Simultaneously, Senator Mitch McConnell, the majority leader, warned his lot not to negotiate a pre-election deal, stating the US cannot stomach another huge federal package. In April, Congress had approved a $2 […]

European Commission Opposes Crypto Fraud Compensation Fund: Victims Say Commi...

The European Commission (EC) is opposing the creation of the crypto crime victim superfund to be financed with $0.0001 per dollar on all cryptocurrency transactions occurring within the EU. The Commission says that it does not have the competence to set up and administer such a fund. It also argues that most crypto crimes occur outside the EU jurisdiction. EC Says It Lacks the Needed Competencies The EC made the remarks in response to a petition lodged with the European Union Parliament (EUP) by a consortium of crypto fraud victims. In their petition, the victims insist that the EC, which....

DeFi deja vu as another stealth Andre Cronje project launches

Over-exuberant investors have once again realized losses after rushing to trade the native token of Andre Cronje’s latest DeFi experiment. Yearn Finance creator Andre Cronje quietly published his third protocol to GitHub since August on October 19, dubbed Keep3r Network. Despite the lack of a formal launch announcement, and Keep3r’s documentation stating the protocol is in beta, over-exuberant investors once again rushed to invest into the project — many of whom have already incurred losses.Keep3r is a decentralized gig-style marketplace for technical jobs powered by its native token KPR.....

Nine Chilean cargo shipping companies approved to develop joint blockchain pl...

It could become the first of its kind blockchain maritime cargo platform in the region Chile's National Economic Prosecutor's Office, or FNE, has granted approval to nine national freight maritime cargo companies to establish a joint venture to develop a blockchain platform, the first of its kind in the region.According to MundoMaritimo.cl, the platform will be named Global Shipping Business Network, or GSBN. It aims to handle all the processes related to maritime cargo such as document issuance and cargo clearance, among other services.The solution is also expected to be offered to other....

Bitcoin average transaction value increases 500% since July

The average Bitcoin transaction is now worth more than $150,000. The average value of Bitcoin (BTC) transactions has increased dramatically since July this year. The average transaction value was sitting at approximately $25,000 per transaction four months ago, but posted a yearly high on Oct 20 at $151,000 per transfer — representing an increase of more than 500%.Average Bitcoin transaction value. Source: BitInfoChartsThe latest spike, as shown by crypto analytics platform BitInfoCharts’ data, saw the average value of a transaction increase almost $50,000, up from $105,000, in the last 48....

TA: Bitcoin Smashes Heavy Resistance at $12K And Its Likely To Continue Higher

Bitcoin price is up over 2% and it broke the $11,800 and $12,000 resistance levels against the US Dollar. BTC is now trading above $12,000, with high chances of more upsides. Bitcoin remained in a positive zone and it cleared the $11,800 and $12,000 resistance levels. The price is currently testing the $12,150 zone and […]

Peer-to-peer NFT sales surge as average purchase price increases 7X

The total lifetime NFT volume on the Ethereum blockchain alone has exceeded $120 million. Non-fungible tokens and digital collectibles have been selling like hotcakes over the past couple of months as volumes on peer-to-peer marketplaces surge.From NFTs representing NBA finals moments to crypto industry character cards, the total lifetime NFT volume on the Ethereum blockchain alone has exceeded $120 million, according to crypto research firm Messari.Messari’s research tracked the demand for NFTs, which includes digital art, collectibles and in-game items, over the third quarter. It found....

Kraken-Owned CryptoWatch Launches Crypto Trading Terminal

The Kraken-owned Bitcoin and crypto-asset trading data provider and trade execution platform Cryptowatch just released a desktop client for expert and institutional investors in the industry. Cryptowatch is a modular trading terminal where users can track cryptocurrency market trends in an in-depth manner. For six years, the product had a webpage, but no formal desktop […]

Mainstream DeFi is ‘inevitable’: US currency comptroller

The U.S acting comptroller of the currency believes the role banks play in society will soon be transformed by crypto assets and DeFi. The U.S acting comptroller of the currency, Brian Brooks, predicts th decentralized finance (DeFi) will render many of the financial services offered by banks obsolete, just as email disrupted the postal service.In an interview during DC Fintech Week on Oct. 19, Brooks predicted a not-too-distant future in which distributed ledger technologies (DLT) mediate financial services, making the legacy banking sector’s historic role as “central ledger-keeper”....

Bitcoin’s Rally to $12,000 Driven by Spot Buyers; Futures Remain Short-Biased

Bitcoin is currently approaching the critical $12,000 resistance level that analysts and investors have been closely watching throughout the past few days and weeks. Its rally up to this level has come about throughout the past 24-hours, without any significant catalyst. One interesting trend that has coincided with this upswing is a selloff amongst altcoins. […]

Futures Traders Aren’t as Bullish This Time Around as Bitcoin Price Revisits ...

Futures funding stayed flat or turned negative despite bitcoin's rally to $12,000.

Hotel Bitcoin ATMs on the Rise With Addition of Swiss Hotel Dolder Grand

The number of hotels with a bitcoin ATM on-site is growing in Switzerland. The latest announcement came from The Dolder Grand, a luxury hotel and spa in Zurich, which recently installed a crypto ATM supporting four cryptocurrencies. Bitcoin ATMs Gaining Popularity in Hotels The Dolder Grand announced Monday that a cryptocurrency ATM has been installed at the hotel for guests to buy and sell cryptocurrencies on-site. The announcement states: As of now, guests of the Zurich Hotel Dolder Grand can buy and sell cryptocurrencies on site – conveniently at the crypto ATM. This is made....

The Bahamas launches world’s first CBDC, the ‘Sand Dollar’

This makes The Bahamas one of the first countries in the world to officially launch a CBDC beyond a pilot program. The Central Bank of the Bahamas has announced the country’s “Sand Dollar” — a state-backed virtual currency — is now available nationwide.According to an Oct. 20 Facebook post from Project Sand Dollar, the central bank digital currency (CBDC) became available to all 393,000 residents of The Bahamas from roughly 10:00 PM UTC. This makes The Bahamas the first country in the world to officially roll out a CBDC. China is currently testing a pilot program for its digital yuan with....

BitMEX Accelerates Mandatory ID Verification After Charges of Lax Anti-Money ...

The exchange moved deadline for identity verification from Feb. 2021 to Nov. 2020

On-Chain Ethereum Trends Favor Bulls Despite 5% Drop From Local Highs

Santiment, a blockchain analytics firm, recently shared that Ethereum’s NVT is still “bullish” The NVT is the network value to transaction ratio, which is seen as a price-to-earnings ratio for blockchain networks. Data also shows that investors are accumulating ETH en-masse, with coins leaving exchanges at a rapid clip. Ethereum On-Chain Trends Still Favoring Bulls Ethereum has undergone a strong drop from its weekly highs around $385. The coin fell under $370 on Tuesday morning […]

Peter Schiff’s Alleged Tax Evading Bank Was Targeted By Bitcoin Ransomware

Peter Schiff is one of Bitcoin’s biggest naysayers. The well-known gold bug recently had his dirty laundry aired out for all to see, as part of an alleged tax evasion case involving his Euro Pacific Bank. As part of an exposé, it was revealed that Schiff’s offshore bank was once the target of Bitcoin ransomware, […]

Top DeFi Coins Crater 15% Despite Bitcoin Passing $12,000

It’s been a tough past few days for the DeFi market. Top decentralized finance coins have surprised most of their holders, actually dumping despite a relatively strong performance by Bitcoin. In the past three days, BTC has gained over 5%, surging from $11,300 to $12,000 at the recent highs. Altcoins are not partaking in strong […]

Bitcoin price rally to $12K is meaningless until bulls flip it to support

Bitcoin price is near $12K again but this level may cause more harm than good if bulls fail to flip it to support. On Tuesday Bitcoin (BTC) bulls mustered enough strength to push BTC price slightly above the $12K mark, a level not seen since Sept. 1. Cryptocurrency daily market performance snapshot. Source: Coin360The move occurred after Monday’s (Oct. 19) high volume surge to $11,822 was followed by continued buying into Tuesday, providing enough momentum for bulls to push above the ascending channel to $12,038. BTC futures volume by exchange. Source: Digital Assets DataThe rally to $12K....

Bitcoin Reaches Multiple Key Resistance Levels; Will They Spark a Selloff?

Bitcoin’s price has reached multiple key levels as a result of its latest push higher This rally came about rather unexpectedly overnight and drove many altcoins to see immense losses This is one of the rare days where Bitcoin is trading up significantly while altcoins all reel lower It remains unclear as to whether or not this will be the new norm for the next few weeks or if today’s price action is simply a […]

This Technical Pattern Suggests Yearn.finance’s YFI Could Plunge to Sub-$7,000

Yearn.finance’s price action has been far from bullish over the past few weeks, with bears aggressively selling into each price pump as buyers continue struggling to gain any traction. There are many different factors behind this descent, including a downturn seen across the aggregated DeFi space, a fractured community, and founder risk that is growing […]

Brazil is prepping an IPO for its state-run digital bank

Brazilian Minister defends IPO of federal digital bank created to aid population during pandemic Brazil's Minister of Economy, Paulo Guedes, said during an online event this Tuesday that Brazil "is about to" join the Organization for Economic Cooperation and Development (OECD) and that the Brazilian government has plans to launch a public offering of shares (IPO) for the newly-created digital bank of Caixa Econômica Federal.Caixa Econômica Federal created a digital bank during the pandemic to help the government send financial aid to around 64 million Brazilians. Guedes’ comments came....

Bitcoin Proponents Bemoan Joe Biden’s Proposed Capital Gains Hike

The U.S. presidential election is only 14 days away, and a number of bitcoin proponents have been discussing the capital gains tax implications Joe Biden plans to invoke if he wins the American presidency. According to Biden’s plan, capital gains will be raised from 21% to 39.6% for certain income brackets. Two weeks ago, the current U.S. president, Donald Trump, floated the idea of cutting long-term capital gains cut down to 15%. In just two weeks, the U.S. may see a new president or it may get another four years of Donald Trump if the incumbent wins the election. This week a number....

Chainlink is Positioned to See a Major Push Higher Despite Today’s Selloff

Chainlink’s price action as of late has been rather lackluster, primarily consisting of accumulation and consolidation as it trades between $10.00 and $11.00. This sideways trading has done little to offer investors any serious insights into its near-term outlook, but it is important to note that it is now moving in close tandem with the […]

Market Wrap: Bitcoin Tests $12K; Ethereum Fees Fall to 3-Month Low

Bitcoin’s price passed $12,000 while Ethereum fees dipped.

Who Was Crypto’s Most Influential in 2020? Vote Now

CoinDesk's Most Influential list highlights those who helped advance the crypto and blockchain industries, in spite of this year's tragedies.

OKEx users express frustration over suspended withdrawals

“It's a bit weird one of the biggest exchanges in the world isn't letting us withdraw money for so long,” said one crypto Twitter user. Major exchange OKEx suspended crypto withdrawals on Oct. 16. With little information coming from the firm or its CEO Jay Hao in the time since, users have begun demanding answers via Twitter.In an Oct. 20 tweet from Hao, the CEO stated that there had been “no on-chain out-flow” since the exchange announced it had “temporarily suspended” withdrawals on Friday. “Your assets are safe,” said Hao. “We'll do our best to resume withdrawals ASAP.”The exchange....

Analysts Think Ethereum’s Bull Trend is “Just Getting Started” Despite Selloff

Ethereum has plunged today despite the strength seen by Bitcoin ETH’s ongoing descent has sent shockwaves throughout the market, creating a tailwind that has adversely impacted most other altcoins This intense selling pressure isn’t showing any signs of letting up today, but it is important to note that there’s still a chance that an upside movement is brewing One analyst is pointing to ETH’s Renko chart with a Guppy indicator, noting that it appears to […]

Much Ow! Dogecoin Sets New All-Time Low Against Bitcoin On Binance

Dogecoin, a cryptocurrency based on the Shibu Inu meme and often an important health indicator of the altcoin market, has just set a new all-time low against Bitcoin on Binance. What does this potentially say about altcoins in general, and will Dogecoin investors experience much “ow” instead of “wow” when Dogecoin tanks further against BTC? […]

US House Speaker ‘Optimistic’ About Reaching a Stimulus Pact: Reports

Nancy Pelosi said she was “optimistic” after the administration made concessions on coronavirus testing and tracing ahead of a Tuesday evening deadline

In China, most blockchain R&D funds are going toward this segment

China's growing interest in blockchain technology spreads to publicly traded companies. A report published by Securities Daily explained how China's publicly-listed companies spend the millions they have allocated toward blockchain R&D. The study surveyed 23 companies in China who began working with blockchain back in 2016. Figures suggest that companies allocate an average 20% of their annual revenues toward such purposes. The majority of these funds are spent to further government-related solutions.The report highlighted that Yuanguang Software, an enterprise software provider, have....

The Rush To Own India’s Bitcoin Market Is Back On

While the volume and scale may not be huge by current industry standards, venture capital inflows into Indian Bitcoin companies have been hard not to notice this year. Long considered an obviously ripe market for Bitcoin adoption, the regulatory and banking establishments in India have, at times, hamstrung growth of a local commercial Bitcoin ecosystem, leading to frustration for companies building and gaining traction for their services as well as for outside capital looking to take advantage of a brimming opportunity.   But the main shackles hindering this growth came off in....

Study finds CME drives Bitcoin price, but it excludes stablecoin volumes

Data from Wilshire Phoenix suggests BTC price formation is driven by CME Bitcoin futures but would this dynamic differ if stablecoin volumes were also included? On Oct. 14, Wilshire Phoenix investment firm released its Efficient Price Discovery report, which detailed how CME Bitcoin (BTC) futures impact Bitcoin price discovery.The firm concluded that "CME Bitcoin futures contribute more to price discovery than its related spot markets." And the researchers also suggested that:"CME Bitcoin futures have grown to become significant, this is not only demonstrated through trading volume and....

How Strong Is Bitcoin’s Push Above $12,000?

Who has the most recent bitcoin move right, the bulls or the bears?

Kraken’s Cryptowatch ships desktop trading terminal for expert traders

One desktop app, many exchanges. The Cryptowatch platform, a subsidiary of the Kraken exchange, announced on Tuesday the release of its desktop-based trading app.Cryptowatch is a trading terminal that aims to group most market data and exchanges under one roof. Traders using the platform are able to connect their accounts across many popular exchanges and place orders on all of them through a single interface.Up until now, the platform could only be accessed through a web browser. The launch of Cryptowatch Desktop, an application for Windows, MacOS and Linux, aims to provide a similar....

With COMP Below $100, a Look Back at the ‘DeFi Summer’ It Sparked

Compound's governance token, COMP, fell below $100 early Tuesday. The DeFi token kicked off the yield farming craze way back in June.

Bitcoin Explodes Towards $12,000 as Altcoins Plunge; What Analysts are Saying

Bitcoin has been sucking the air out of altcoins for the past few hours, with its price rallying significantly as Ethereum and other altcoins all sell-off This rally has sent it up towards $12,000, which mark fresh highs since its decline from its $12,400 yearly highs first began It does appear that bulls are currently setting their sights on a move past $12,000 Unlike Bitcoin’s previous rally – which came about in tandem with that […]

Bitcoin Price Breaches $12K for First Time Since August

Bitcoin prices had to overcome a large number of sell orders to break above $12,000.

Breakout or fakeout? Top traders react to Bitcoin price rally to $12K

Bitcoin price rallied to $12,000 but traders are unsure whether the move is a breakout or a fakeout. Within the past few hours, Bitcoin (BTC) price rose to $11,988 before pulling back to hover around the $11,900 level. The price is on the cusp of breaking above $12,000, and some analysts have suggested that the dominant cryptocurrency is in the process of decoupling from the rest of the market, including U.S. equities.The general sentiment around Bitcoin among analysts and traders remains positive and multiple on-chain analysts say that Bitcoin has been behaving like a safe-haven asset.....

Kik, SEC Propose $5M Settlement Over $100M ICO, Ending Yearlong Battle

Kik will pay $5 million in penalties as part of a proposed settlement with the SEC, which sued the messaging app last year.

Institutions Long and Hedge Funds Short: Bitcoin Options Traders Prep for ‘Bi...

Trends in bitcoin options markets are making it difficult for financial analysts to pinpoint BTC’s next move. Data from CME’s recently published trader report shows that institutional investors are capturing a larger number of bitcoin long contracts, while hedge funds are showing an all-time high for bitcoin short contracts. On Tuesday, the price of bitcoin (BTC) has been attempting to capture the $12k price zone and a number of people are focused on the crypto assets’ next moves. While a number of crypto traders are extremely bullish some people believe that digital....

‘Garbage’ Market Data Is Holding Bitcoin Back: MicroStrategy CEO

Saylor said the bitcoin market needs high quality data in an interview Tuesday.

Crushing Bitcoin Dominance Could Decimate Altcoins Through Q1 2021

The DeFi boom and an explosion of ROI across altcoins helped bring bullish sentiment back to crypto, and it helped push Bitcoin above $10,000 and hold the key level for the longest stretch ever. But while altcoins had regained some lost ground against the most dominant cryptocurrency, BTC dominance has potentially reversed, and if closes […]

Blockchain Bites: Bitcoin and the BSA, Signature Deposit Growth, Darknet Cryp...

Here's all the news people are talking about in crypto today.

Analyst: Bitcoin’s Dominance to Peak in December, Sparking Altcoin Buying Frenzy

Bitcoin has seen a massive upswing over the past couple of days that brought a firm end to its consolidation phase and is now allowing it to confront its key resistance around $12,000. This level has been holding strong as resistance, and throughout the year, any break above this level was met with heavy selling […]

Bitcoin Shoots Towards $12,000 as Capital Flows Back Into BTC

Bitcoin bulls are back after weeks of consolidation. The leading cryptocurrency thrust higher towards $12,000 on Tuesday morning. The coin now trades just shy of that crucial price resistance at $11,970. The cryptocurrency is expected to move higher in the days ahead as macro trends favor Bitcoin bulls. Bitcoin’s rally comes as altcoins have suffered […]