EXCHANGES

These Simple Factors Suggest Bitcoin Could See a Sharp and Swift Recovery

[ad_1] Bitcoin saw a sharp and unexpected decline yesterday evening that led the crypto to shed over $20 billion from its market cap This decline came close on the heels of the multiple rejections that BTC has witnessed around the $10,000 region Despite the overt bearishness of this movement, analysts are noting that there are still some simple reasons why the cryptocurrency could see a swift recovery Bitcoin’s sharp overnight
BLOCKCHAIN

Positive On-Chain Activities During Bitcoin Halving Countdown

[ad_1] We have almost reached Bitcoin’s third halving where the network halves the block reward from 12.5 Bitcoin (BTC) to 6.25 BTC. This event has recently ignited strong market interest where Bitcoin broke through $10,000 on May 8, 2020, fully recovering from the Black Thursday crash. Meanwhile, the total cryptocurrency market cap has also passed $270 billion. At the time of writing, Bitcoin is currently hovering around $10,000.On-chain market activities
EXCHANGES

Quantitative Hardening: Dissecting the Third Bitcoin Halving, 3 Key Data Points to Watch

[ad_1] In a touch more than 24-hours time, the third bitcoin halving will take place on May 12, 2020, on or around 9:50 p.m. ET. Miners will see their revenues slashed in half from 12.5 coins to 6.25 BTC after the halving and speculators wonder what will happen after the event. Currently, according to Google Trends the term “bitcoin halving” is one of the most searched topics within the crypto
BLOCKCHAIN

Cryptopia: Bitcoin, Blockchains and the Future of the Internet

[ad_1] “Cryptopia: Bitcoin, Blockchains and the Future of the Internet” is filmmaker Torsten Hoffmann’s follow up to his award-winning 2015 documentary “Bitcoin: The End of Money As We Know It.”His first film looked at the history (and failings) of money and the financial system, and how Bitcoin was poised to revolutionize and solve many of its problems. Now, Cryptopia brings us up to date with the current state of play
Business

Traders Say Binance Cut Their Bitcoin Shorts: Here’s Why It Happened

[ad_1] As the Bitcoin (BTC) price abruptly dropped from $9,500 to $8,100, some traders on Binance claimed that their winning short trades were unfairly cut short. A trader named AthenaBank wrote on May 10:Deleverage? Binance close my short after I make 7 times my investment. What's going on? Where is my short? The BTC dropped to $8,000. Who pays the difference?But, the closure of the shorts was systematic and the process
Business

Iran Ditches Rial in Hyperinflation Crisis — Bitcoin Demand Rises

[ad_1] Ravaged by crippling hyperinflation, Iran’s Parliament has sanctioned the redenomination of its fiat — the rial — by replacing it with a new currency called the toman. According to the plan, each toman will be worth 10,000 rials.The redenomination plan effectively removes four place values (four zeros) from the Iranian national currency as part of efforts to kickstart an economic recovery from the country. It is a move that
Business

Binance’s Mining Pool Could Disrupt the Entire Mining Industry

[ad_1] Binance has launched its own mining pool. This could spell bad news for miners, but probably not for the reason you’re thinking of. We’re all aware that Binance is continuing to extend its reach across the industry. The exchange’s purchase of CoinMarketCap for a reported $400 million signaled a bold step toward grabbing attention at the top of the crypto funnel, and its recent foray into mining just ahead
Business

3 Reasons for the Bitcoin Price ‘Halving Dump’ From $10K to $8.1K

[ad_1] Bitcoin (BTC) price dropped from $10,000 to $8,100 within just over a day, as it plunged by 9% in a single hour. It liquidated $200 million worth of shorts, obliterating the futures market.The three key reasons that triggered the immense Bitcoin correction were: strong multi-year resistance area above $10,000, whales moving to short the market on BitMEX, and extreme volatility heading into the halving.$10,200 to $10,500 is a multi-year
EXCHANGES

Analyst That Called 2019’s Bitcoin Bottom Predicts Imminent Drop to $6,400

[ad_1] It’s been a volatile past seven days for Bitcoin. After peaking at $10,100 some 48 hours ago, the cryptocurrency took a dive on Saturday and Sunday morning, tanking $2,000 in about the span of 20 hours. In a dramatic sell-off, Bitcoin fell as low as $8,100, crushed by a seeming stop run that was reflected in the $250 million worth of BitMEX long liquidations. Chart from TradingView.com While prices
Business

OTC Exchanges Help Thwart $5M Bank Heist in Brazil

[ad_1] A $5 million online heist in Brazil targeting Spanish multinational financial institution, Banco Santander was thwarted after the funds were seized with local over-the-counter (OTC) crypto exchanges.The perpetrators immediately moved to convert the stolen funds into Bitcoin (BTC), however, the cash triggered many of the bank accounts of the exchanges to be frozen upon receipt, according to local press The Bitcoin Portal. The media outlet claims to have obtained internal