News

The BTC price recently made a downside correction below the $10,000 level. During the decline, the price broke many supports, including the $9,500 and $9,300 levels. However, it remained well bid close to the $9,000 support zone. BTC is currently recovering steadily and trading well above the $9,300 level. There was a break above the 23.6% Fib retracement level of the recent key decline from the $10,390 high to $9,080 low. Notably, it appears there is a key contracting triangle…

Over the past 24 hours, Bitcoin incurred a high volatility such that it led to the sub-$9k area. The leading cryptocurrency incurred notable bullish pressure at this level, thereby returning to its past consolidation range in the mid-$9k area. Interestingly, a huge inflow of BTC into exchanges happened at the same time. This suggests that investors consider this latest dip basically remarkable, and these new inflows could put more pressure on the market. According to an analyst, Bitcoin supply could…

Blockchain is a horizontal innovation whose impacts are spreading like a bushfire leaving a mark wherever it touches. The technology has been around for a little over a decade, and innovators are constantly looking for ways to use it in various industries.  The blockchain industry has grown exponentially over the last few years. Today, there are more than 5500 cryptocurrencies, and the blockchain roots continue to spread.  The technology has been most disruptive in the financial, health, and supply chain…

China wants to go global over its quest for cryptocurrency predominance as it has proposed a digital currency that would be based on a basket of currencies including the Chinese yuan, Japanese yen, South Korean won and Hong Kong dollar. The proposed pan-Asian digital currency is planned by the private-sector to rival Facebook’s Libra and challenge the USD’s supremacy. A report by the Nikkei Asian Review on June 14 noted that the proposed digital currency is backed by China. The plan to create an…

Bitcoin has been trading tightly within a range between $9.3k and $9.5k over the previous few days, making it part of the cryptocurrency asset’s consolidation in the past two months which restricted the price action below the critical $10k barrier. Bitcoin market has been dull, such that it is about to attain a level of volatility not recorded since the beginning of 2020. Nonetheless, there is emerging proof that a breakout towards the downside is on the way. Bitcoin’s on-chain…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $267 billion. Bitcoin failed to go over the $10K level, and it ends the week trading in the red. Ethereum decreased by 2.5% over the past week but looking to surge again. XRP lost more than 4% and fell below $0.20 again Fears of a second wave of COVID-19 infections have shaken the markets…

The economic effects of the COVID-19 pandemic have driven discussions regarding the digitalization of economy with central bank digital currencies. This led a blockchain company in the United Kingdom to propose a central bank-issued digital currency (CDBC) system to the Bank of England. The company known as L3COS proposed an operating system based on blockchain for a CBDC to the Bank of England (BoE). According to the company, the proposal represents a response to the BoE’s consultation document released three months ago. The…

After being dubbed as a climate warming accelerator, Bitcoin is about to change sides and fight climate change. Is it possible for an industry that spends almost 0.13% of the world’s annual power consumption only on mining Bitcoin to become eco-friendly? And, if so, how will it go about it? Today, we take a closer look at the challenges that cryptocurrency faces in its bid to become “green.” We delve into alternatives to the energy-devouring mining process and how the…

In Europe, the focus has turned to cryptocurrency companies due to the discovery of the continent’s biggest-ever dirty-money ($220 billion) scandal in Estonia. Estonia has been clamping down on the companies towards the prevention of financial crime. This is due to allegations that billions of dollars of illegal cash flowed through the local unit of Denmark’s largest lender Danske Bank A/S. One of the steps taken by the government of Estonia is the withdrawal of permits from several cryptocurrency firms. The government focuses on firms that exchange…