Markets

El Salvador’s ground-breaking decision to adopt Bitcoin as legal tender could have an outsized impact on the global cryptocurrency market – but it’s unclear whether it will be positive or negative until we see how it works in practice.Although it was originally designed as a currency and has seen both its use and its value soar over the last decade or so, Bitcoin (and other cryptocurrencies) have largely been used more as assets than currencies to date. Aside from trading, their use has been...

At 19 years of age, Nick Sears could be one of the youngest people in the world to be making a career out of bitcoin. Two years ago, Sears built a bitcoin mining farm in Washington, and has made this farm his business ever since. He is looking away from the traditional college route and considering a future in which he devotes himself entirely to the world’s number one digital currency by market cap. Nick Sears Says “Bye” to College, “Hello” to BTC Mining Right now,...

BTC’s impressive rally from $29.3k to $42.6k has significantly improved the technicals and especially the momentum for the largest cryptocurrency. Since finding a local top at $42.6k as we reported, the 4-hour and daily conditions for BTC became extremely overbought and overextended, with an increased risk of a near-term correction. When looking at market structure, it appears BTC has exited Phase C in the Wyckoff Accumulation schematic and is now in the early parts of Phase...

Zymergen announced that CEO Josh Hoffman has stepped down and will be replaced by Jay Flatley as the acting Chief Executive Officer.Zymergen Inc (NASDAQ: ZY) stock was down as much as 73.90% during today’s pre-market. According to metrics provided by MarketWatch, ZY stock traded around $9.80 as of August 4, 2021, 6:32 a.m. EDT. The sharp nosedive has directly been attributed to a business update provided by the company.Notably, the bio-based product company announced that it expects no...

With just 24-hours left for the upcoming London hard fork, the ETH community eagerly awaits the exciting changes it will bring to the network. There’s been much hype around the arrival of the Ethereum London hard fork and now we are just one day away. The countdown tracker from Ethereum.org shows the hard fork will go live in the next 24 hours from press time. The announcement on the website reads:“The London upgrade is scheduled to go live on Ethereum in August 2021, on block 12,965,000....

RIT Capital Partners has participated in a funding round for Aspen Digital’s UK expansion plans.RIT Capital Partners, formerly known as Rothschild Investment Trust, led an $8.8 Million Series A round of funding for Hong Kong-based Aspen Digital.British peer and Investment Banker Jacob Rothschild’s company, RIT Capital Partners has been officially announced to have led the funding round for Aspen alongside New York-based technology venture firm Liberty City Ventures. The crypto investment...

Tron price started a fresh increase above the $0.0600 resistance against the US Dollar. TRX price is now trading well above $0.0600 and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near $0.0640 on the 4-hours chart (data feed via Bitfinex). The pair is likely to continue higher as long as it is above the $0.0620 and $0.0600 support levels. TRON price is trading in a positive zone above $0.0600 against the US...

Bitcoin price failed to extend gains above $42,650 against the US Dollar. The price is now trading below $40,000 and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near $40,500 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair is likely to bounce back as long as it is above the $37,000 support zone. Bitcoin price is slowly moving lower below $40,000 against the US Dollar. BTC could start...

The Ethereum blockchain is scheduled to undergo the London hard fork, and several exchanges are taking precautions to ensure users’ funds remain secured once the hard fork is successfully deployed.  At block height 12,965,000, estimated to take place tomorrow (August 8th, 2021), Ethereum was scheduled to undergo the hard fork, and two scenarios are likely to occur; either the chain is split, and there’s a competing network with a new token or no new token is created, and most...

Miami mayor Francis Suarez has long been a bitcoin and cryptocurrency fan. He has proposed paying city workers in the world’s largest digital currency by market cap, and he has also tried to entice China’s exiting bitcoin miners to come to his region to start businesses and take advantage of the area’s many tax benefits. Miami Is Heading Deeper Into Crypto Territory However, now he’s taking his affection for digital currency to the next level. In a recent press release,...