Last week, after a devastating move that shook the market violently up and down for a 7% move in just a few short minutes, bitcoin saw a major sign of strength as it proceeded to have a slow, but steady markup where it managed to establish a local high in the $6,800s:Figure 1: BTC-USD, Hourly Candles, Shakeout Prior to MarkupThis shakeout forced the market to temporarily establish a new monthly low in what could be argued to be a stop-hunt prior to the move to the $6,800s. Sitting atop its most recent rally is what appears to be a reaccumulation trading range shown below:Figure 2: BTC-USD, 15-Minute Candles, Reaccumulation Trading RangeWhile it’s still early to tell, the current consolidation has some of the hallmarks of a classic reaccumulation trading range that, if realized, will likely lead to a continuation to the upside. Currently, the market is rebounding from what appears to be a “spring” or a “shakeout” — an effort to create liquidity for large players. Part of the alleged shakeout includes testing prior resistance to see if it can properly hold as support. And, as you can see below, the spring tested the previous high and is currently holding support — a good sign for the bulls:Figure 3: BTC-USD, Hourly Candles, Spring Testing Resistance Turned SupportSo where does that leave us? While it is pure speculation at this point, if we see a strong round of buying, the first immediate test would take...
BofA’s new patent proposes a system managing communications data from Internet-connected devices
A digital nomad and crypto enthusiast G. John Cole explains how cryptohackers can siphon the power of your devices, and shares core principals of effective protection. The post How to Protect Your Devices from Crypto-miners appeared first on CoinSpeaker.
While the cryptocurrency markets are sitting well off their year-to-date lows, and Bitcoin is showing increasing stability with major support at $6,000, a Cboe options expert is now claiming that the markets may have yet to hit rock bottom, based on how this rally ultimately ends. As market sentiment is near its all-time low, the...The post Cboe Analyst: Bitcoin Prices Likely Haven’t Hit Rock Bottom Yet appeared first on NewsBTC.
Bitmain has announced a sponsorship deal with a Texan NBA team, the Houston Rockets, as well as promising to invest $500 million in the state’s economy. In yet another example of how the cryptocurrency industry is winning at sports, AntPool, which is run by Bitmain Technologies, will soon be stepping onto the basketball court. South...The post Bitmain to Sponsor NBA Team and Invest $500 Million into Texas Economy appeared first on Live Bitcoin News.
The newest platform that seeks to merge social media and blockchain technology is here! The project is called DMUNITY, a decentralized social media platform built on top of the Ethereum blockchain. The concept is very similar to what exists on platforms like Reddit today, in which users are able to post content on virtually any […]DMUNITY – the Social Platform Where You Can Post and Earn ETH was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
Artist Trevor Jones will showcase crypto-themed, augmented reality artwork at the Dundas Street Gallery in Scotland’s capital.
Following an earlier report by researchers from the University of Texas alleging that stablecoin Tether (USDT) issues new tokens to manipulate the bitcoin price, a new report has emerged debunking this theory.Written by Dr. Wang Chun Wei of the University of Queensland Business School, the report states that, contrary to the conclusion of the earlier study by John Griffin and Amin Shams, the effect of Tether is statistically insignificant as far as bitcoin pricing is concerned. Lack of Supporting EvidenceAccording to Wei's report, which uses VAR analysis — a model used to discover meaningful relationships between variables over a period — no evidence was found to suggest the influence of tether in bitcoin’s record-breaking price spike in December 2017. Wei concludes that Tether does not have the market heft required to shift bitcoin one way or the other. Explaining this in detail the report says:“We find no empirical evidence supporting the notion that Tether grants cause subsequent Bitcoin returns to rise on a daily basis. In fact, when we examine the Bitcoin return equation of our VAR model, none of the lagged variables, impacts Bitcoin returns. This suggests Bitcoin returns are showing greater signs of market efficiency than previously studied on older datasets.”Fresh Grants and Heightened Trading VolumesThe report established a positive correlation between USDT issuances and heightened bitcoin tradi...
Bitcoin on Monday depreciated more than 2 percent against the US Dollar from its bear flag top from Saturday. The BTC/USD kickstarted Asian trading session by consolidating sideways near-term between 6688-low and 6722-high. The pair in the absence of upside sentiment started losing positions to shorts. As a result, it fell as low as 6580-fiatThe post Bitcoin Price Intraday Analysis: BTC/USD Reverses from Bear Flag Top appeared first on CCN
The digital asset trading platform, which invested $ 10 million on purchasing the unusual overseas domain name, IX.com, officially announced to launch. As the world's first exchange with BTC as platform token, in which one can get multiple high returns by the quantity of BTC he holds.Through half a year's endeavor, the founding team and early employees of IX try their best to build the corporate into international platform with strong industry impact. IX owns its unique three major technological innovations and five major operational characteristics. And it begins to open digital asset market from today.The post PR: IX Launches Exchange with BTC as Platform Token appeared first on Bitcoin News.