Bitcoin Rebounds Nicely, BTC Bulls Sighting Next Crucial Break

After a nasty upward move, bitcoin price corrected below $12,000 against the US Dollar. The price towards the $10,400 support and recently started a fresh increase above $11,500. There is a major contracting triangle forming with resistance near $12,300 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is likely to break to the upside above the $12,400, $12,500 and $12,800 resistance levels. Bitcoin price is showing a lot of positive signs above $11,600 against the US Dollar. BTC could continue to gain momentum once…

Billions to Trillions: Crypto Assets and the Inevitability of Digitization

Ami Ben David is founder and CEO of institutional digital securities blockchain Ownera, co-founder of SPiCE VC, previously co-founder of Securitize and investor in security token companies.  The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for the institutional market, with news and views delivered every Tuesday. Sign up here. Ten years after the invention of bitcoin, the general market is starting to realize – with a big push from Facebook – that digital money using blockchain technology is coming. Behind the scenes, the next market is already kicking into gear…

Bitcoin Rebound Facing Resistance: More Downsides On The Cards?

After correcting towards the $10,400 support, bitcoin price recovered above $11,000 against the US Dollar. The price broke the $11,800 resistance, but it faced a strong resistance near the $12,400 level. There was a break below an ascending channel with support near $11,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might decline further towards the $11,000 before it could start a fresh increase. Bitcoin price started a decent recovery above $11,800 against the US Dollar. However, BTC is struggling to settle above $12,000…

Crypto Trader Warns of 40% Bitcoin Price Drop Before Monster Bull Run

 Bitcoin was on a massive tear and the parabolic run was unstoppable as the crypto reached $13,000. It has declined since but is up on the weekly timeframe. While many long-term investors are euphoric over this juggernaut ascent, some experienced traders are starting to feel anxious. The trend reversal is so strong that a significant retracement is currently lurking. One popular day trader has a resounding argument that supports this bias. Analyst Opinion on Bitcoin Pullback A respected figure in the CryptoTwitter community named Trader X0 who boasts 13,000 Twitter…

Binance in Discussions with Facebook Over Libra Coin

According to CoinTelegraph, one of the world’s largest crypto exchanges, Binance, is in “official” talks with Facebook regarding the latter’s new Libra coin. The exchange’s strategy officer, Gin Chao, told BlockTV yesterday that the company is “very excited” about the Libra project. What we know so far, according to Chao, is that the talks “have largely focused on dealing with infrastructure.” Binance and Libra Coin While the pair’s discussions are in the early stages, it seems Binance is not holding back its desire to work with Libra “as much as…

Thank Elizabeth Warren for the Bitcoin Price Surge

 Not that long ago, economist Tyler Cowen told bitcoin to “put up or shut up.” Following the cryptocurrency’s ridiculous ascent during the first half of the year, the George Mason University professor finds himself forced to begrudgingly admit that the nascent asset is “probably here to stay.” And he says you can thank Elizabeth Warren for that. How Elizabeth Warren Is Driving the Bitcoin Price Boom The bitcoin price has roughly quadrupled since bottoming out in December 2018. | Source: TradingView Writing in a Bloomberg Opinion column, Cowen lays out…

Bitcoin Heading for Fifth Month of Gains Despite Price Correction

View Bitcoin is still on track to close with gains for the fifth straight month, despite having witnessed a double-digit technical correction in the last 36 hours. The hourly chart shows the pullback has ended and prices could revisit recent highs over the weekend. With a reward halving due in May 2020 and increased institutional participation, prices could rise further in the second half of this year. A break below the May 30 high of $9,097 would invalidate the bullish outlook as per the daily chart. While bitcoin’s price has…

Binance Talking to Facebook About Libra Listing: Reports

According to reports in the crypto press Thursday, cryptocurrency exchange Binance is talking to Facebook about getting involved in the social media giant’s upcoming Libra project. Finance Magnates says it spoke to Binance at the FinTech Junction event in Israel on Thursday, with the exchange’s CSO, Gin Chao, saying that early discussions have taken place with Facebook over a possible future listing of the libra token. Chao said that as libra will be on a private blockchain initially, it won’t need external liquidity. However, Facebook may ultimately desire a secondary market, he said, adding: “Currencies…

Irish Crypto Exchange Bitsane May Have Disappeared With Users’ Funds

Irish cryptocurrency exchange Bitsane may have done a runner with users’ funds. Forbes said Thursday that the Bitsane exchange, which offers spot trading of cryptos and gained popularity as an early provider of XRP trading, has gone offline and has deleted its social media accounts. Emails sent by Forbes bounced back, it said. Customers of the exchange are saying that they have possibly lost amounts ranging from $5,000 to $150,000 in crypto holdings. On crypto data website CoinMarketCap, Bitsane’s trading information has not been updated for over 10 days. A user that…

It’s Now Harder to Mine Bitcoin Than Ever

Bitcoin mining has become more competitive than ever. Bitcoin mining difficulty – the measure of how hard it is to earn mining rewards in the world’s largest cryptocurrency by market cap – has reached a new record high above 7.93 trillion. That’s a seven percent jump from the 7.45 trillion record set during the recent two-week adjustment cycle, which was the highest since October 2018. Bitcoin is designed to adjust its mining difficulty every 2,016 blocks (approximately 14 days), based on the amount of computing power deployed to the network. This…