Tag Archives: btcusd

Bitcoin bulls are staging a new breakout attempt right now as prices surge above the 0.618 Fibonacci level around $13,360 for the second time in 48 hours. The price wicked to $13,500, setting a fresh high for 2020. This is a critically important time for Bitcoin, as a second failure to overcome this level could form a bearish double top and cause prices to plummet. Looking at the global crypto market capital, we can see that volumes are now back to Sunday levels at $397...

Singapore’s largest bank, DBS Bank, has reportedly soft-launched an exchange offering fiat-to-cryptocurrencies trading pairs called DBS Digital Exchange.  According to the website and a few reports, it will enable customers to buy and sell four of the “top digital currencies in circulation” – Bitcoin, Bitcoin Cash, Ethereum (ETH), and Ripple (XRP). They will be traded initially against SGD, HKD, JPY, and USD. DBS Digital Exchange will not hold any cryptocurrencies. Instead,...

Yesterday, the Bitcoin network witnessed approximately 22 exahashes per second (EH/s) exit the ecosystem, as noted by Hashr8’s Thomas Heller on Twitter. The self-professed “mining maximalist” also shared his estimation that we’ll see the BTC mining difficulty decline somewhere between 7.4% to 8.8% by the end of the week — a drop that, if true, would be the worst negative difficulty adjustment since the infamous, COVID-19-induced “Black Thursday” crash in March. However, none...

As Bitcoin adoption grows more and more, concerns about the need for scalability solutions increase. Lightning Network is the most important layer-two development currently available on the Bitcoin blockchain, and it seems that North Americans are the favorite demographic for this efficiency-focused micropayment solution. The Lightning Network is a layer-two solution currently under development. It focuses on the creation of channels between peers that allow for almost...

An anonymous user just made what seems to be the largest fiat value transaction using Bitcoin. In a single transaction, the user sent a total of 88,857.2449 BTC, which, at the current rates, is worth around $1.15 billion. Being well-known for its low fees, the entire thing cost the user less than $4. Large Bitcoin transactions have happened in the past, and most of them are characterized by their staggeringly low fees. It’s also interesting to note that this wasn’t the...

Bitcoin’s price remains stuck under the key 0.618 Fibonacci level at $13,360 going into this week after little bullish momentum arrived during the opening of the US traditional markets. Wall Street, meanwhile, is painted in red. Over shorter timeframes, it’s clear that the general sentiment is still bullish as the leading asset continues to print higher lows. However, trading volumes are beginning to decline, and there’s a growing divergence between the RSI and price action,...

PayPal’s decision to enable its users to interact with cryptocurrencies directly on its platform continues to attract popular individuals’ attention. The latest to acknowledge the significance of this move were the Head of Facebook Financial, David Marcus, and Social Capital CEO Chamath Palihapitiya. Banks Will Follow PayPal, Says Marcus Arguably the most significant piece of news recently came last week when the giant online payment processor PayPal announced it will soon...

Founder and former executive chairman of the multinational technology conglomerate Alibaba Group, Jack Ma, believes that world regulators need to improve the legislation around digital currencies as they could create value. Ma: Digital Currencies Could Create Value In a recent speech reported by Bloomberg, the Chinese billionaire criticized the current global financial regulatory framework for its lack of innovation. He claimed that watchdogs are primarily focused on risk...

After marking two consecutive yearly highs in the span of a few days, Bitcoin has calmed but still hovers over $13,000. Most alternative coins have remained relatively stable, and the market cap is yet to break above $400 billion decisively. Bitcoin Stays Above $13k Although Bitcoin started the weekend with apparent stagnation, the asset entered Sunday on a roll. BTC was trading at $13,100 but sharply exploded to a fresh 2020 high of above $13,350. Shortly after, though, the...

Ever since Facebook announced its plans to create a digital payment currency dubbed Libra, central bankers have tried to counter it with an invention of their own. While Libra is facing regulatory troubles, a BIS report indicated that over 80% of the world’s central banks are currently developing a central bank digital currency (CBDC). The idea and purpose of a CBDC are fundamentally different than everything Bitcoin stands for. As such, the community has been speculating on...